Clavate Medtech Intelligence and Relatable software enhances product data management and competitive conversion efficiencies for medtech sales, contracts and pricing teams.
LONDON , Sept. 23, 2024 /CNW/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformational intelligence, today announced a strategic partnership with Relatable Healthcare, a technology company that provides product relationship management (PRM) software to leading medical technology companies to drive revenue and workflow efficiencies.
(PRNewsfoto/Clarivate Analytics)
Relatable™ is a Product Relationship Management (PRM) platform developed for medical technology manufacturers and distributors, enabling new competitive transformation capabilities that drive cost-effective revenue growth. The platform establishes a single source of truth for all information related to a specific product and its direct competitors, and populates the data into a data management platform available to contracts, sales, marketing and technical support teams.
With the Relatable™ platform, customers now have access to comprehensive competitive intelligence from Clarivate in addition to product specifications and cross-references, availability, sales literature, EPP data, chemicals of concern, manufacturers, or any custom proprietary data customers wish to manage. This partnership will enable Clarivate and Relatable customers to make strategic pricing decisions with confidence, streamline sales agreement processes, and strengthen contract compliance by providing comprehensive tools and insights to effectively manage the entire contract cycle.
“At Clarivate, we are focused on expanding our market intelligence and data analytics offerings in the medical device and technology sectors, as well as delivering powerful workflow solutions that translate data-driven insights into decisions and actions to accelerate growth for our clients. This new strategic partnership will enable us to help the industry get products to patients faster,” said Andrew Lee, vice president, MedTech, Life Sciences and Healthcare at Clarivate.
“At Relatable Healthcare, we’re focused on creating intuitive software that modernizes how innovative medical device and supply companies leverage product intelligence to drive efficient revenue growth. We’re excited to partner with Clarivate and their medtech customers to automate workflows across contracting, sales, marketing and product support, empowering them to instantly cross-reference competitive products in RFP responses, measure contract compliance more frequently and proactively uncover conversion opportunities in the field,” said Joshua Emert, CEO of Relatable Healthcare.
The story continues
In the evolving healthcare environment, medical device and supply companies, along with their distributors, face significant challenges in communicating the value of their products and providing consultative insights. They also struggle to drive adoption and effectively analyze market trends. Cost-constrained healthcare providers critically evaluate purchasing decisions by comparing equipment and supplies in detail. To meet this demand, medtech companies need up-to-date competitive intelligence and advanced software to analyze and communicate portfolio insights customized for each contract, sale, and conversion opportunity.
This collaboration enables medtech companies to commercialize products and serve integrated delivery networks (IDNs), group purchasing organizations (GPOs), health systems, independent hospitals, surgery centers and clinics, more efficiently streamlining the entire revenue growth process. Combining Clarivate’s deep product-level market knowledge with Relatable Healthcare’s enterprise software gives medtech companies the insights and tools to win new business and drive contract compliance.
About Clarivate
Clarivate™ is the world’s leading provider of transformative intelligence delivering rich data, insights and analytics, workflow solutions and professional services to academic, government, intellectual property, life sciences and healthcare. For more information, visit www.clarivate.com.
About Relatable Healthcare
Relatable Healthcare is a technology company providing pioneering Product Relationship Management (PRM) solutions for the medical device and supplies industry. Our data management tools and automated workflows help leading MedTech organizations drive efficient revenue growth across the commercialization spectrum. To learn more, visit www.relatable.io.
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