Growth Opportunities Arising due to the Use of Commercial AI Models in Radiology

Growth Opportunities Arising due to the Use of Commercial AI Models in Radiology

The Intensely Competitive Landscape Necessitates the Repositioning of Value Through the Acceptance of New Business Models

RELEASE DATE
04-Aug-2021
REGION
North America
Research Code: K653-01-00-00-00
SKU: HC03439-NA-MT_25652
$2,450.00
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HC03439-NA-MT_25652
$2,450.00
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Description

As artificial intelligence (AI) solutions gain acceptance in the imaging fraternity and among senior leaders in the health systems space, competition has intensified and necessitated the creation of differentiation strategies for companies that want to improve their revenue and sustain growth. The rapid proliferation of medical imaging AI companies has led to the availability of a plethora of solutions in the market; however, hospitals are not able to access these solutions (and vice versa). The launch of platforms and marketplaces by imaging original equipment manufacturers (OEMs) and others has paved the way for new distribution channels and commercial models. The software-as-a-service (SaaS) marketplace (mainly cloud-based) is meant to simplify medical imaging providers' access to various independent software vendors' applications without having to contract and engage individually with each vendor.

Owing to the shift from fee-for-service models to value-based reimbursement, intrinsic factors that drive adoption (improved sensitivity and specificity and reduced reporting and interpretation time) will become less important to end users. AI vendors should design their solutions and their pricing strategies to align with the value delivered in the overall care pathway. Predictive solutions and the identification of new protocol or indications for imaging will decrease readmissions and enable optimum resource utilization (equipment, manpower, and financial) and align with the goals of value-based care. As pressure on radiologists increases due to high scan volumes and complex cases, vendors should focus on condition-based packages that can be integrated with operational processes. Vendors can offer comprehensive condition-specific packages by partnering with OEM platforms or marketplace to decrease the cost of sale, improve market access, and benefit from new pricing models and integration facilities.


Research Highlights

This Frost & Sullivan study examines the following:

  • Strategic imperatives for vendors
  • Key market trends and impact of AI on radiology
  • Scenarios driving the adoption of AI among providers
  • Types of value creation of AI in radiology
  • Adoption of AI and functional prioritization by radiologists
  • Evolution/progression of pricing models for AI tools
  • Demand-side factors that influence the shift in pricing models
  • Value positioning of various pricing models
  • Top growth opportunities

Author: Srinath Venkatasubramanian

RESEARCH: INFOGRAPHIC

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Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Radiology AI Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Market Segmentation

Key Trends and the Evolution of AI in Radiology

AI Development Ecosystem and the Role of Multiple Participants in the Deployment Stack

Growth Drivers

Radiology AI Use-Cases in Imaging Workflows

AI Use-Cases or Functionalities in Imaging Workflows

Types of Deployment, Value, and State of Play

Efficacy Levels and their Impact on the Adoption of AI in Imaging

AI Adoption in Imaging—Key Evaluation Criteria for End Users

AI in Radiology—Types of Value Creation

AI in Radiology—Roadblocks and Recommendations

AI in Radiology—Evolution/Progression of Pricing Models

Demand-side Factors that Influence the Shift in Pricing Models

Value Positioning of Various Pricing Models

Unlocking Value across the Radiology Stack to Abate Price Erosion

AI in Radiology—Growth Opportunity Matrix

Growth Opportunity 1: Disease-specific Packages Sold Through OEM Platforms and Marketplaces Will Drive Adoption

Growth Opportunity 1: Disease-specific Packages Sold Through OEM Platforms and Marketplaces Will Drive Adoption (continued)

Growth Opportunity 2: Strategic Partnerships with MedTech and Biopharma Companies Will Create New Revenue Streams

Growth Opportunity 2: Strategic Partnerships with MedTech and Biopharma Companies Will Create New Revenue Streams (continued)

Growth Opportunity 3: Solutions that Benefit Referrers and Payers Will Yield High Revenue

Growth Opportunity 3: Solutions that Benefit Referrers and Payers Will Yield High Revenue (continued)

Legal Disclaimer

As artificial intelligence (AI) solutions gain acceptance in the imaging fraternity and among senior leaders in the health systems space, competition has intensified and necessitated the creation of differentiation strategies for companies that want to improve their revenue and sustain growth. The rapid proliferation of medical imaging AI companies has led to the availability of a plethora of solutions in the market; however, hospitals are not able to access these solutions (and vice versa). The launch of platforms and marketplaces by imaging original equipment manufacturers (OEMs) and others has paved the way for new distribution channels and commercial models. The software-as-a-service (SaaS) marketplace (mainly cloud-based) is meant to simplify medical imaging providers' access to various independent software vendors' applications without having to contract and engage individually with each vendor. Owing to the shift from fee-for-service models to value-based reimbursement, intrinsic factors that drive adoption (improved sensitivity and specificity and reduced reporting and interpretation time) will become less important to end users. AI vendors should design their solutions and their pricing strategies to align with the value delivered in the overall care pathway. Predictive solutions and the identification of new protocol or indications for imaging will decrease readmissions and enable optimum resource utilization (equipment, manpower, and financial) and align with the goals of value-based care. As pressure on radiologists increases due to high scan volumes and complex cases, vendors should focus on condition-based packages that can be integrated with operational processes. Vendors can offer comprehensive condition-specific packages by partnering with OEM platforms or marketplace to decrease the cost of sale, improve market access, and benefit from new pricing models and integration facilities.--BEGIN PROMO--

Research Highlights

This Frost & Sullivan study examines the following:

  • Strategic imperatives for vendors
  • Key market trends and impact of AI on radiology
  • Scenarios driving the adoption of AI among providers
  • Types of value creation of AI in radiology
  • Adoption of AI and functional prioritization by radiologists
  • Evolution/progression of pricing models for AI tools
  • Demand-side factors that influence the shift in pricing models
  • Value positioning of various pricing models
  • Top growth opportunities

Author: Srinath Venkatasubramanian

More Information
No Index No
Podcast No
Author Srinath Venkatasubramanian
Industries Healthcare
WIP Number K653-01-00-00-00
Is Prebook No
GPS Codes 9600-B1,9825-B1,9A06-B1,9566-B1,9570-B1,99CC-B1,99BE-B1,9614-B1