Refurbished Medical Imaging Equipment through Technology

Abstract

Purpose - the purpose of this paper is to study the market assessment for Refurbished Imaging Equipment through understanding the Technological advancements in the Sector. Design/methodology/approach - Data has been collected from Primary sources and Secondary sources. The researcher applies Factor analysis, Principal Component an analysis and Component Score Coefficient Matrix for the analysis. Findings - Though there is ample potential for refurbished medical imaging equipment market, itis due to lack of confidence in refurbished equipment, healthcare providers prefer not to go for refurbished. Procurement policies of most public and large private hospitals are against use of refurbished medical equipment due to lack of standards and regulations for manufacturing, imports, and sale of new and pre-owned/used/refurbished medical equipment in India. Originality/value - The Statistical analysis from the study will help the Hospitals, Medical Practitioners, in understanding the merits of using a refurbished Imaging equipment that comes with Low cost of Ownership, Higher end equipment in lower budget, keeping cost of diagnosis low.