The Two Reasons Some Reps Make Over $1M/Year in the Medical Ancillary Sector

People land in the medical ancillary sector for various reasons, but more than anything, they are looking to make those huge commissions they’ve heard stories about. Having spent the past 9 years specifically in the ancillary space, I can tell you from experience that some of these stories are true, and there are indeed sales professionals who make 7-figures.

However, for every Million-Dollar-Rep, there are at least 50 that struggle to earn even a modest living.

What is that Million-Dollar-Rep doing that the rest aren’t? I’ve examined this issue to narrow down what are the key differences between the top-earning reps and the bottom-dwellers, and I’ve identified 2 key distinctions:

1 – Million-Dollar-Reps Go Direct!

I’d like to convey a true story that recently happened with our company. I’m sure most people reading this have their own similar stories.

In August 2018, a credit application came across our desk for a large capital purchase. This was exciting, especially for the sales representative, who stood to make over $30,000 in commission on the deal. However, we didn’t recognize the sales rep’s name, so we reached out to him. During the course of our conversation, we spoke about commissions, and he indicated that he was going to make $5,000 on this sale.

We were appalled, and investigated to see how he got such an inequitable deal. As it turns out, a sales rep signed a direct contract with the vendor, which paid $30,000. That sales rep spammed LinkedIn and found another distributor to sell under them for $25,000. Then, that distributor ran ads on the internet to make $15,000. A person answered that ad, and ran their own ad on craigslist to make $5,000. The person who answered that ad finally made the sale.

This industry is filled with useless middlemen who add no value to the sale. In fact, they are a huge impediment to making the sale as reps have to work through several layers to get questions answered. This is highly inefficient and ineffective, as anyone who has ever played the child’s game of “telephone” could tell you. Beyond that, that’s now 4 layers of risk to seeing your money at all, even if you do manage to get your deal closed.

Unfortunately, most reps are not aware of the layers between them and the vendor. The Million-Dollar-Reps, on the other hand, ALWAYS go direct when possible. They understand that making the sale is only a small part of what is going to make you the most money. Reducing the risk of not getting paid for their hard work by cutting out useless layers is a major key to their success.

2 – Million-Dollar-Reps Sell Everything

If the compounding industry taught us one thing, it’s never to put all of your eggs in one basket. Million-Dollar-Reps understand this better than anyone.

If you look at the paychecks for the top earners, they will typically have several checks for various amounts throughout the month, versus one big check. They don’t get rich by selling a single widget to 100 doctors, they get rich by selling 10 widgets to 10 doctors.

Doctors are increasingly turning to medical ancillaries to enhance the quality of care to their patients and drive additional revenue. What they want is a consultant.

Selling a single program creates a psychological barrier. The doctor knows that your incentive is to sell them that program, regardless of it is a good fit for the practice.

Million-Dollar-Reps, on the other hand, provide practices with a complete layout of the whole sector, and custom-fit solutions to fit each practice. These reps are seen as practice consultants. In my experience, the average Million-Dollar-Rep has 10 solid relationships with practices who perform several ancillaries.

How to Become the Next Million-Dollar-Rep

First, you need to shift your paradigm away from being a sales representative to becoming an ancillary consultant.

At Every Ancillary, we have built a sales tool that addresses both of these issues.

EveryAncillary.com affiliates have the ability to add a full suite of medical ancillaries to their sales portfolio, in a format that allows them to present multiple ancillary options in a single catalog….with DIRECT CONTRACTS with vendors, cutting out the useless middlemen.