10 months ago
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A major private player in the medical imaging space remains optimistic that the pending addition of 16 new medical imaging devices across public facilities won’t significantly impact earnings.
That’s because facilities are still not meeting local demand for medical diagnostic services, according to CEO of Image Plus Consultants Limited Kisha Anderson in an interview with the Financial Gleaner on Monday. Image Plus trades as Apex Radiology.
The size of the business done by diagnostic companies is unknown, but for the two service providers listed on the Jamaica Stock Exchange, they generated $447 million combined in revenue from their services to the market; and for their past fiscal years, a combined total of $2 billion.
The Jamaica government plans to add 10 CT and six MRI scanners at public health facilities this year, according to a bidding document released this week by the Ministry of Health and Wellness.
“I’m not expecting a dramatic impact on earnings immediately because, as I say, it’s going to be a transition period. Plus, the machines are going to have downtime in the public system,” said Anderson.
She added that an ageing population keeps demand rising. Also, some patients journey from smaller Caribbean islands for diagnostic imaging services.
“Certainly, we’re going to see some change; but the demand is growing,” the Image Plus CEO said.
Jamaica plans to acquire the new scanners under a lease arrangement that will run for seven years. The lease will cover supply, installation, maintenance, and user training across 10 hospitals in the capitals of Kingston, Montego Bay, Mandeville, May Pen, Black River and the parishes of St Ann and Portland.
Suppliers have until February 28 to submit bids.
“The truth of the matter is that we need these machines for the Type A hospitals,” said Anderson. “They really should have them.”
She said it’s “ridiculous” that some hospitals don’t have an MRI or a CT scanner, especially with the constant flow of gunshot and car-crash victims; and called for greater public-private partnership to get the scanners installed and operational.
The new equipment will help address diagnostic bottlenecks and reduce dependence on imaging services in the private sector. Such equipment is critical for diagnosing conditions such as cancers, vascular diseases, and neurological disorders.
There are currently about two dozen MRI machines in operation in Jamaica, spread across the public and private sectors, based on a quick check by Anderson. The addition of six new MRI machines would increase the supply by about one-quarter. The number of CT scanners was not immediately available.
The Ministry of Health says the lease arrangement would cover the provision of 16 medical diagnostic imaging equipment, installation, maintenance and training.
Anderson said that new machines can take “six months to nine months” between placement of the order and delivery.
“They are built to specification,” she said, adding that installation requires a technician.
For the MRI equipment, the facility has to build a Faraday cage, a sort of enclosure designed to block electromagnetic fields, and add a chiller.
“It is not like you just plug in something. There are all kinds of components that are needed to make it work,” she added.
Beyond procurement and installation, keeping trained staff remains a challenge. Private firms must train new graduates on MRI and CT machines, as their practical experience is limited to X-ray machines during their studies. However, skilled technicians eventually migrate as they can earn two to three times more in the Caribbean and United Kingdom, Anderson indicated.
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