Evaluating Imaging Technology Investments Requires New Definitions

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Is it possible for organizations to strike the right balance between technology adoption and controlling cost to meet current needs?

Even before COVID-19 swept the globe, the balancing act of managing costs while maintaining value was at the forefront of imaging technology purchasing decisions. While the roller coaster effect of the pandemic threw this balancing act in sharp relief, many challenges existed before, and will continue long after, the pandemic subsides.

Some of these challenges are inherent in the economic model of radiology. To stay on the cutting edge, hospitals invest in new technology that often pays off only when that technology is fully incorporated in day-to-day practice. Although the fast pace of technological advances is what makes radiology such a rewarding field of medicine, it is also what makes it expensive to stay on top of – and indeed, in front of – various trends.

Radiologists are also contending with increasing patient demand and continuing staff shortages, which express themselves in backlogs that demand new approaches to throughput. In addition, changes in government regulations can have a significant effect on technology return on investment, as well as system upkeep. For example, the impact of a new administration and resulting legislation on reimbursement in the United States, the Brexit-triggered customs checks and controls in commerce between Great Britain and the rest of Europe, and limitations caused by economic sanctions on certain countries in the Middle East and Africa all add to the complexities of imaging technology purchases.

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