by Heather Mayer
, DOTmed News Reporter | October 11, 2010
DOTmed News recently sat down with Robert Dakessian
, president and CEO of Genesis Medical Imaging, Inc., a CT and MRI service specialist based in Huntley, Ill. Dakessian discussed the trends in the imaging service industry and offered insight to the future.
DOTmed News: Can you talk a little bit about the trends and changes in the imaging service industry?
It's important to understand that this business is cyclical. OEMs dominated years ago and then ISOs came in and dominated. Hospitals then try taking a lot of services in-house. Right now, ISO-industry services dominate. Economic constraints force hospitals to look at cutting more costs. They are turning more to ISOs and in-house services. Hospitals have depended on OEMs for years, but now through premier service organizations, like Genesis, they don't have to do that. We can provide the safe alternatives to OEMs and the support to in-house groups, to become independent from OEMs.
DM: Last year, you told DOTmed News that there would be consolidations over the next two years, for example, mergers and acquisitions. How accurate has that prediction been?
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I'm not surprised [about the consolidations]. It's a coming trend. There's a lot going on. At the end of the tunnel, I believe there will be a couple of strong national premier service organizations. The small companies will remain small, local ISOs. By staying true to our core competency in CT, MRI and PET/CT and continuing to invest in proprietary technology, we believe it will give Genesis the competitive edge.
DM: How has Genesis Medical Imaging grown since you last met with DOTmed News?
We plan to open two new territories by year's end, in addition to our current 12 territories throughout the country. We're also expanding internationally and expect to have more news about this in the coming weeks. This new relationships should bring a significant amount of business [to Genesis] virtually immediately.
This year, Genesis has improved over last year's growth rate. As you know, Genesis has carved out what we consider a new niche in the industry, offering both the safe OEM quality and the customer focus and value of an ISO.
We find that luminary customers who would not consider a traditional ISO in the past are finding Genesis as the only premier service organization that offers innovative safe alternative to OEMs and the value they need in today's economic landscape.
DM: Can you explain your company's new Predict/Prevent model that is designed to reduce equipment downtime and lower repair costs?