Competitive price benchmarking study of the enterprise imaging IT market

A US-based global management consulting firm wanted to deepen its understanding of enterprise imaging IT and Picture Archiving and Communication System (PAC) adoption trends in the US health industry to help its client develop a competitive pricing strategy. Their existing information was limited in scope and lacked external market perspectives, such as information about competitors, their price offerings, and the factors influencing vendor selection.

Objective

Our client, a US-based global management consulting firm, wanted to deepen its understanding of enterprise imaging IT and Picture Archiving and Communication System (PAC) adoption trends in the US health industry to develop a strategic business plan for its customer. It sought accurate information about competitors, their price offerings, and the key vendor selection criteria in order to do so.

Solution

Netscribes conducted a competitive price benchmarking study to meet the clients’ requirements, which involved the following steps:

• Background research: We leveraged various paid and non-paid databases, and other secondary sources of information to study the overall PACs systems market and identify the various service providers in North America.
• Identification of respondents: Next, we identified a sample group of people involved in the selection or purchasing of medical imaging IT systems. This step also involved running potential respondents through screener questions to identify their qualification for the survey.
• Primary research: We conducted a CATI-based telephonic survey with the qualified product users and procurement personnel to analyse the pricing quotes offered by competing vendors during the bidding process, as well as, the factors that influenced their selection. It considered the overall costs, taking into account any additional modules, ancillary systems, and services that were charged upfront. The project had an incidence rate of 15% as out of a pool of every 100 respondents, around 35 successfully completed the screeners and 15 completed the remaining survey.
• Quality check: All completed surveys went through a stringent quality check process. First, the transcript submitted by the analyst is reviewed. Once that is cleared, the call recordings are sent through the QA team which then calls the respondents to verify their responses.