Today, the Big Orthos are posting record sales, and at the same time record layoffs. I wrote about this strange phenomenon here - The Orthopedic industry paradox. Over the last few weeks I have tried to figure out how this is happening.
I've come to the conclusion that there is a logical reason for higher sales with less people. The Big Orthos have learned to do more with less people, less capital, and less system complexity. This discipline was forced on them during the Covid period and its playing out now.
The old paradigm pre-2020 was to do more with more. If a company needed to sell twice as much, you needed twice as many salespeople, twice as many products, twice as many training courses, twice as many sales samples, twice as big a marketing budget, and so on.
Post-2022, the Big Orthos have learned to leverage improvements in many areas to grow sales faster than their expenses expand.
Below are 7 strategies that are being used today:
1/ Automation and Technology: By investing in technological advancements, Big Orthos can automate repetitive tasks, streamline processes, and improve overall efficiency. This reduces the need for additional labor, thus controlling expenses.
2/ Sc...
