My Medical Device Sales Career
Most of you know that I love stocks and I am an active trader with a balanced hand at portfolio stock management. In fact, it is this hobby that led to my daily medical news tweets that some of you follow every day. I realized that the CURRENT health of medical and pharmaceutical companies can often be predicted long before a lay off or conversely a hiring expansion. Everything our medical sector does is watched very closely due to the obvious connections to government and legal legislation and reimbursement, as well as the importance of the products and services produced that can save and change lives (for better or sometimes worse)!
Many have asked me why I bother to report/tweet the medical, bio and pharma news each day (now found daily on the front page of our site). My reply is quite simple, "Everything moves very fast now in our industry, a company can introduce a new, unique surgical product and enjoy a nice entry lead into the marketplace, only to see it evaporate within 5 to 10 years by the competition or newer concept products."
In our industry all it takes is one product recall, FDA failure, key reimbursement reduction or elimination to effectively shut down a company or, minimally, have it fall prey to a buyout within 12 to 24 months of the event. Compare that to other industries like a long dying Sears and Roebucks, who just announced today they were closing 62 locations, but a company that could carry on as it went into a slow decline for decades; there is no room or tolerance for a slow, long bleed like that in our industry.
We are fortunate to be in this industry for many reasons, but let me add one more; it is an industry that is transparent IF YOU stay on top of the medical news trends, the products and the changes in healthcare. Ask any pharmaceutical representative that did not read the trends of their industry 8 years ago and stayed until they were laid off....the writing was on the wall if they would have just read it from time to time.
Think of my medical news tweets as just that, a wall of news that may help you stay on top of the health of your industry, your company, the competition and ultimately the health of your job security.
©Linda Hertz, All Rights Reserved
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