SALT LAKE CITY--(BUSINESS WIRE)--Novarad Corporation, a leader in the development of medical imaging software, introduced its guaranteed TCO pricing model for its Ncompass Enterprise Imaging® system. One of the high-risk challenges of budget planning in a healthcare environment is unpredicted or undisclosed maintenance and support costs. Novarad has offered fully inclusive pricing plans on clinical solution products such as PACS, Cardiology and Mammography for many years. By extending this to Enterprise Imaging, healthcare facilities can perform an upgrade with full confidence of predictable costs.
“We received many competitor quotes, but when you looked at five years of ownership and 10 years of ownership, there was a big cost difference,” said Kelly Denton, Imaging Director at Southwest Medical Center (SWMC). “The Board was appreciative that we did a very thorough analysis and were so confident on why we wanted to choose Novarad.”
Novarad’s controlled pricing model includes 24/7 U.S.-based support, software upgrades for the life of the agreement and if included in the deployment, ongoing hardware updates. Additionally, healthcare providers benefit by paying only for the services and storage they use—all costs that would fall under TCO.
TCO is a well-known and vital piece to the healthcare operations puzzle. According to Gartner*, “An upfront focus on TCO can help reduce the long-term cost of maintaining and supporting applications. TCO should be a primary consideration during the procurement phase of all major applications and systems, not five years later.”
“TCO is an important component (risk management) of vendor management and a byproduct of application investment,” wrote Barry Runyon, Research Vice President at Gartner. “When an investment in a vendor product or service is approved, the enterprise is automatically committing to ongoing costs that could eventually be more than 10 times the initial investment. It is incumbent upon all stakeholders, including IT, finance and functional areas of the investment, to manage this significant financial commitment and risk going forward.”*
CIOs that take an active role in monitoring and managing lifetime software costs tend to gain the best return on investment (ROI) and the greatest business outcomes.
Those interested in learning more about taking advantage of the controlled TCO model may visit the company at HIMSS 2018, booth 8015, visit www.novarad.net.
*Gartner, “Develop These Two Healthcare Provider Strategic IT Disciplines,” Barry Runyon, 14 December 2017.
For over 20 years, Novarad has enabled healthcare providers to solve their imaging problems through its full diagnostic suite. Today, Novarad’s specialized enterprise imaging and workflow solutions continue to improve upon industry standards and empower healthcare providers everywhere to solve problems. Through customizable workflow and imaging solutions, Novarad encompasses medical imaging needs. Visit Novarad at www.novarad.net for more information.