Feb 27, 2017

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The Top Characteristics of Medical Device Companies

The Top Characteristics of Medical Device Companies

What exactly keeps medical device companies in business? Is it the innovative products they produce? Is it the groundbreaking research and development? Or is it a staff of passionate salespeople who are excellent marketers? Well, it’s probably all of that, and even a bit more.

Taking the idea one step further in an attempt to explain things, MedReps decided to ask the question: what makes a good medical device company? Well, what better way to find out than to ask the people that work there? MedReps recently reached out to their community of medical device sales jobs professionals and got the answers that were published in their 2017 Best Medical Device Companies report. Respondents of the corresponding survey noted a variety of what they think makes a good medical device company which also provided insight as to what they liked and what they didn’t like about their current employers. So what did they have to say? Read on to discover more.

The Positives

Right off the bat, competitive compensation is the most important thing a company can offer, followed (rather distantly) by work-life balance, according to the report. Additionally, and consistent with their peers in both the pharma and biotech fields, medical device professionals consider a company’s product line to be of utmost importance when evaluating a potential employer. After that, a focus on research and development is of secondary importance.

The Negatives

While low pay and lack of benefits were the biggest negatives that respondents offered, another negative aspect that was frequently mentioned was stress. 20 percent of employed medical device respondents reported the stressful nature of medical device sales jobs as being the worst part of their employment.

Interestingly enough, more than two-thirds (69 percent) of medical device respondents said they were at least very or somewhat satisfied with their jobs, however, 41 percent still said they are likely to leave their jobs in the next year.

The Winners

Large Category

In the large medical device company category and for the fifth consecutive year, Medtronic took top honors. This year, not only did it land at number one in the “large” category, it earned the top spot in the overall vote as well. Medtronic is widely respected by the medical device sales community, and is seen by many as the “holy grail” of employment opportunities.

Medtronic has a great reputation of treating its employees well and here’s what a few of their employees had to say when surveyed:

Medtronic treats their employees with respect. They are always helping the community and giving us an opportunity to participate. We are told that work comes after family and faith and they mean it.”

Innovation, culture of high ethics, minimal sales administrative responsibilities, good pay, great benefits, awesome products that alleviate pain – restore health -extend life. Biggest most recognized name in Medical device, makes getting appointments with surgeons, hospital staff, and other HCPs easy.”

Medtronic has always been a company where the patient comes first by Alleviating Pain, Restoring Health and Extending Life. As an employee I have always felt that my opinion mattered and everyone is working to make this company the best employer you could have.”

Medium Category

In the medium medical device company category, ConMed came in at number one. According to the report, more ConMed employees cast votes for ConMed than did employees of any other company. This certainly speaks volumes about the high level of job satisfaction experienced by ConMed employees. The company’s dedication to improving healthcare through innovative products creates a positive environment where medical sales professionals can make a difference while advancing their medical sales job careers.

Some of the employee praises include:

As a sales territory manager the commission rate is outstanding, the 401k match is incredible, additional benefits are great, and there is a great leadership structure that allows me to perform my job just like I need to.”

An extremely innovative and exciting workplace environment where the potential for career and personal growth is abundant.”

CONMED has given me the opportunity to finally have a work life balance.  I have been in medical device sales since 2002 and have never been able to have a healthy work life balance.”

Small Category

AccuVein may employ fewer than 100 personnel, but in terms of impact, the company truly knows no bounds. A global leader in medical imaging solutions, the company was voted the best medical device company to work for in the small company category for the second year in a row. Many employees mentioned compensation and company culture as well as world-class products as reasons why AccuVein is a great place to work.

Read what other excited employees had to say about AccuVein:

Our technology and our culture create lots of opportunity for growth.”

Vein illumination is a breakthrough device, which allows health care professionals to see a map of peripheral veins on the skin’s surface with the goal of improving venipuncture, the most commonly performed invasive medical procedure, and other vascular access procedures.”

The technology that they (AccuVein) have developed for vein actuation. It solves an age old problem that arises every single day in the hospital setting multiple times a day even the hour. This solution can reduce time and money spent on a problem that as mentioned arises multiple times a day.”

The perks of medical device sales jobs including competitive salaries, the chance to work with life-changing products, a healthy work-life balance, and the autonomy afforded by the job, make them highly desirable. The above companies represent those qualities and characteristics and are some of the best places to start your job search.

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