Ecton-Individual Case Analysis

Keep using the old machine incurs higher cost(higher EAA) than replacing it with the new one. Therefore assuming sales are equal for both cases, when sales is smaller than 328338.07 and greater than 434036.67, Fonderia di Torino S.p.A should definitely replace the old machine with the new automated machine.

When I entered college I was uncertain of what my career would be. I chose to get my degree in Biology because I knew that it can open my path to many different fields in healthcare. Following the completion of my Bachelor in Biology from the University of Texas at San Antonio, I worked at a medical office and during those times I came across the field of Ultrasound. I was amazed and fascinated by the technology and the sight of a human heart. Echocardiography was created a unique opportunity for me to combine my interest in medicine and technology with concern for others.

When making a purchase to improve on many areas of operations there are always factors to take into consideration. There will be a great amount of capital expenditure for this equipment; however the potential for higher return on investment is remarkable. The initial cost of purchasing the MAGNETOM is approximately $ 1 million. There will be an additional cost of $500,000 to operate and maintain the machine. These costs will be reimbursed within the first eight months of extensive utilization if the all marketing for the machine is on point. Since we are currently paying a technician to operate our out of date machinery, there is no reason why this prediction cannot become reality. There will also be an offset of income inherited by the lack of errors made by the technicians after they have trained for the new machine . ("Magnetom espree -," 2013)

The required training and education for entry-level positions in diagnostic medical sonography is generally obtained through an associate’s degree, preferably with an accredited institute. Bachelor’s degrees are also available, as well as one-year certificate programs for professionals expanding their current healthcare degree. Most employers require education from an accredited program because of their allotment for clinical training and studies including medical terminology courses and detailed instruction on interpreting ultrasound images. As discussed previously, students choose a specialized field of sonography to study. Certification is then applied to whichever specialized field has been chosen, such as obstetric and gynecologic sonography, abdominal sonography, breast sonography, musculoskeletal sonography, neurosonography and cardiovascular sonography. Although the interviewee Wilma Barniak has many modalities, she mentions, “I have fortunately always been able to find employment in Rad/CT or a Cardiac Cath Lab. I would say these are my most useful certifications.” The job market for cardiovascular technologists and vascular technologists is rapidly growing. According to the U.S. Bureau of Labor Statistics, a projection of twenty-nine percent in employment between 2010 and 2020 is expected. The authors of Hot Health Care Careers noted, “This technology is increasingly being used to detect heart attacks and heart and

Technological- Modern manufacturing techniques like robotic equipment can prove to be much more efficient than traditional methods. However it is expensive at $250,000.

The required training and education for entry-level positions in diagnostic medical sonography is generally an associate’s degree, preferably through an accredited institute. Bachelor’s degrees are also available, as well as one-year certificate programs for professionals expanding their current healthcare degree. Most employers require education from an accredited program because of their allotment for clinical training and course of study which include medical terminology courses and detailed instruction on interpreting ultrasound images. As discussed previously, students choose a specialized field of sonography to study. Certification is then applied to whichever specialized field has been chosen, such as obstetric and gynecologic sonography, abdominal sonography, breast sonography, musculoskeletal sonography, neurosonography and cardiovascular sonography. Although the interviewee Wilma Barniak has many modalities, she mentions, “I have fortunately always been able to find employment in Rad/CT or a Cardiac Cath Lab. I would say these are my most useful certifications.” The job market for cardiovascular technologists and vascular technologists are rapidly growing. According to the U.S. Bureau of Labor Statistics, a projection of twenty-nine percent in employment between 2010 and 2020 is expected. The authors of Hot Health Care Careers noted, “This technology is increasingly being used to detect heart attacks and heart and vascular

Hi, my name is LeAna. I am a student at Midlands Technical College hoping to someday be a professional in the field of cardiovascular technology. Because of my interest in cardiac imaging, I have decided to do some research on the Society of Invasive Cardiovascular Professionals, SICP. This professional organization works provide professionals in the cardiovascular health care field with educational opportunities for invasive specialist, high quality care for patients, and support for invasive cardiovascular leaders. Someday in the near future, I will be one of the healthcare professionals in the cardiovascular field. In this essay, I will discuss SICP’s purpose, design, interactivity, and its influence.

From the article, both machines run faster, produce clearer films and meet all safety standards. So making a choice on which machine to buy will be based on other factors rather than these. Which machine brings the greatest benefit to the hospital and which is paid for by itself are among the factors to consider. Whichever one l chose between the two, I will have to deal with a problem called opportunity cost. Both the mammogram and the MRI machines cannot be purchased at the same time. The current budget allocated to the department cannot take care of both machines. This means one of machines will have to be selected over the other. Opportunity cost is the benefit, profit, or value of something that must be given up to acquire or achieve something else. (www.Businessdictionary .com) If l chose the mammogram machine over the MRI machine, then the opportunity cost is letting go of the MRI machine.

How Information System’s Assist: The facility states that it offers their physicians and patients access to the “latest high-tech imaging services, digital medical technology and specialized equipment.” This equipment includes the use of digital radiology imaging, digital echocardiograms and digital cardiac catheterization. The facility also uses an Electronic Medical Record system, which they claim enhances patient safety and maximizes physician connectivity. Having this equipment helps the facility differentiate itself from its

Technology permeates every domain of critical care and has contributed to rising survival rates. The technological innovation grew out of boundaries, changing all industries involved. In health care, the advancement in science and technology play an important role in almost all process from patient registration to data monitoring, from lab tests to self-care.

However, they still required the operator to position the material manually. Automatic machines were designed for use by high-volume producers. ML believed that the increased speed would offset the higher costs for the machines. Two of the automatic machines were pneumatically powered. The primary difference between them was that one machine positioned only one part of the fastener while the other machine positioned both parts of the fastener which increased its speed. The third automatic machine was electrically powered which made it significantly faster than the other two automatic machines, and it could attach multiple fasteners to the same garment.

Ecton, Inc., a startup company, has brought a new invention into the ultrasound equipment industry. This invention exists in the form of a compact, easy to use, non-conventional and newly developed Doppler echocardiography technology. The company is now poised to move from the product developmental phase of its invention to bringing it to launch in the market. Towards a successful and profitable launch however, the company needs to make a choice on whether to activate its marketing and production efforts towards an existence as an independent company or whether to use the success of the invention to pursue a deal to be acquired by a large firm.

NeoMed Technologies should’ve considered applying their initial product development to the technology of screening for drugs, drug delivery applications or detecting cancer. These areas would’ve possibly allowed for a quick to market product, without the additional approvals, quality standards applied in the medical equipment space, and FDA approvals needed. Bringing a simpler product to market first could’ve brought in revenue to fund the long-term product focus of a CAD screen system. The profits from a drug screening or drug delivery product could’ve assisted in funding their long-term product focus, they missed an opportunity to develop a quick revenue steam.

Ecton Inc. has innovated a new concept echocardiograph imaging system. This concept challenges the conventional use of imaging system which was dominated by HP, Acuston, and ATL. Ecton Inc. has made their product compact and mobile as compared to conventional imaging system which weighed more than the average NFL Linesman. Now that Ecton Inc. is in the final phase of the product development cycle they have two options. First is that Ecton Inc. should rollout the product. This will require considerable capital input and similar strengths in marketing, sales and production as they have in the engineering team. Second option which was also their original plan in the Phase 3 plan (March 1998) was to be acquired by an established Large company who already have the skills to market the product and have established distribution channels. This report focuses on Ecton’s market position, examines its future choices and offers a recommendation.

From many of these examples and articles, we can gather much information over the relationship between innovation and strategic management. Although, some areas may not be proven in its fullest capacity, there are undoubtedly ways that innovation improved business operations and practices, which can be seen in examples such as Apple, Microsoft, Dominos, and Samsung. On the other hand, not every business incorporating innovation is a success story. In the dynamic days we find ourselves in today, business and organizations are digging deeper into the wells of innovation. We have all come to enjoy the benefits and I am not sure of anyone that would want to