Based on its recent analysis of the enterprise medical image archiving market, Frost & Sullivan recognizes Mach 7 Technologies with the 2012 Global Frost & Sullivan Award for Entrepreneurial Company of the Year. Mach 7 Technologies has embarked on a highly promising growth path by implementing global yet focused market strategies.
The company's approach to image management is perfectly in line with the emerging paradigm that seeks to replace monolithic picture archiving and communication systems (PACS) with a best-of-breed combination of a PACS-neutral, back-end infrastructure with diagnostic and enterprise PACS viewers. To deliver an end-to-end solution based on this model, Mach 7 Technologies has cultivated symbiotic, solid industry partnerships with leading information technology vendors.
By working closely with partners and customers across the spectrum of healthcare providers ranging from large U.S. luminaries to small facilities in developing countries, the company leverages its focused development resources to respond rapidly to emerging market needs.
"Implementing its technology at prestigious healthcare institutions across the U.S. was one of Mach 7 Technologies' early achievements," says Frost & Sullivan Principal Analyst Nadim Daher. "The adoption of its solutions by some of the world's leading names in healthcare demonstrated the company's thought leadership and its ability to effectively address complex challenges for large, highly demanding academic medical centers."
Mach 7 Technologies has been making forays into the international market, most notably, into Southeast Asia, the Middle East, and Australia. By catering to emerging or underserved healthcare IT markets, it enables the local imaging providers to adopt a vendor neutral approach to imaging informatics right at the outset, eliminating the hurdles experienced by second-generation PACS customers in the more advanced markets. This approach allows the company to execute a ‘blue ocean' strategy that has already started to pay off.
The company's flagship platform, Keystone Suite™, exemplifies best-in-class enterprise image management and archiving. It is highly scalable and has been tested as a robust solution at all types of facilities. This dedication to product development sets Mach 7 Technologies apart and allows it to adopt a multi-department, enterprise-oriented market approach to the image management market.
Mach 7 Technologies' value proposition is differentiated in the vendor-neutral archive (VNA) market, in that it is not bound to a radiology-centric approach. The vendor's solutions empower customers by giving them full control of their data and workflow. They achieve this by providing a final solution to digital imaging and communications in medicine (DICOM) interoperability challenges and enabling users to achieve true enterprise imaging integration.
Mach 7 Technologies' ability to meet the technical as well as clinical requirements of enterprise image management and archiving is proving pivotal in aligning the incentives of the various medical imaging stakeholders across the clinical, IT, and business enterprise.
"Clinical stakeholders can benefit from a streamlined imaging workflow and a single point of access to imaging and related data, while IT stakeholders can gain efficiency through data normalization, consolidation, and data mining," notes Daher. "As for business stakeholders, they can take advantage of the higher levels of operational efficiency of the imaging enterprise."
Each year, Frost & Sullivan presents this award to the company that has demonstrated entrepreneurial spirit by devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in business processes, leadership in customer value as well as market penetration. In short, the award looks at the emerging market players in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Mach 7 Technologies
Mach 7 Technologies (mach7t.com), headquartered in Singapore, is a global provider of innovative, flexible, enterprise clinical image management solutions that enable healthcare enterprises to own, share, and access medical image data. Mach7's flagship Enterprise Clinical Image Management solution, Keystone Suite, is composed of innovative and sophisticated technology designed for vendor neutral archiving (VNA), intelligent routing and prefetching of relevant medical images, clinical viewing and complete image management. Keystone Suite has been used by healthcare institutions around the world for archiving, academic medical research, improved radiologist productivity, cost savings and more across an enterprise.
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