Medical ancillaries are gaining in popularity among medical sales professionals. Physicians are increasingly relying on ancillaries to improve their quality of patient care and their bottom lines. This increased demand, along with the flexibility and unlimited income potential, has caused many medical sales professionals to try their hand at ancillaries.
Unfortunately, many are disappointed to learn that much of the ancillary sector is dysfunctional. Every rep in the ancillary space has stories about not getting paid on a service they sold to a doctor.
If you have a Linkedin account, you have probably been bombarded with opportunities to take advantage of medical ancillaries that are paying ostensibly huge amounts of commission. These offers can be tempting.
However, having worked with hundreds of ancillary vendors, I am witness that these claims seldom materialize.
As one example, HOPD lab billing has been all the rage for the past few years. The three things that every HOPD model has in common:
- You have to work through a “master distributor”, which has its own risks.
- This “master distributor” explains to you how the last 20 people didn’t know what they were doing, but they have worked out all the kinks.
- You either never get paid, or you get paid for short a period of time before it peters out.
While the commissions/specimen were 3-5x higher, there is a huge risk you get nothing or get your commissions clawed back. Not to mention, doctors have little patience for continually switching labs.
Having spent 9 years in this industry, I can tell you that the best money over the long-run is NBB – Nice Boring Business.
While NBB might pay less up front, some accounts I’ve kept for 9 years, so it’s paid out tremendously more than gimmicky programs. It’s been a source of stability for the practice since they know they can count on the vendor.
The best way to find NBB is to partner with vendors who have a solid track record. When you are picking up a new ancillary or new vendor, you should ask to speak with other distributors who have a long track record with them. If they cannot produce, that’s a big warning sign.
If you are looking for NBB vendors to add to your portfolio, visit everyancillary.com. There you will have the ability to add a full suite of medical ancillaries to your sales portfolio, in a format that allows you to present multiple ancillary options in a single catalog….with DIRECT CONTRACTS with vendors, cutting out the useless middlemen.
Register today at everyancillary.com and receive your free Medical Ancillary Sales Playbook.