Originally established in 2003 as New York Imaging Service (NYIS) in Newburgh, NY, the company evolved through expansion, mergers, and acquisitions. As the organizations were consolidated, the company rebranded to Prestige Medical Imaging and currently covers twelve states. “This put us in a position to create unique business models that we couldn't have achieved as a small independent organization,” says Haussmann. The business model includes purchasing organizations in key regions, keeping the culture and relationships in place, and leverage PMI support to serve customers in a better way. This consolidation has reduced price points through bulk purchases and leveraging service capabilities. In growth regions, PMI establishes Managing Partners with significant experience and understanding of the local culture. The Managing Partners enable PMI to provide localized customer support, guaranteeing the local, intimate relationships between the customer and PMI.
Service is the best product that we sell
Many customers often have limited capital and are unable to afford X-ray equipment. “To address this challenge, we took an approach similar to your cell phone company and applied it to X-ray,” quips Haussmann. This solution offers “X-Ray-as-a-service” solution where the customers are charged a monthly fee for their equipment and usage. Such value offering sets PMI apart from its competition.
PMI is the official radiology provider for several leading sports teams such as Miami Heat and New York Mets. PMI serves hospitals, orthopedics, imaging groups, chiropractors, podiatrists and veterinarians. PMI are sellers of new and pre-owned radiographic equipment including MRI, CT and PACS.
“The thing that I am most proud of is this one big family we've created. Over 65 percent of our employees have been here for a decade or longer, which is special," adds Haussmann. He believes that employees are the most important part of the company because if the employees are taken care of, then they would in turn take care of the customers. Kevin Galage, COO, has been with the company for more than ten years. Haussmann met Galage through a business transaction and he was recruited shortly after, as Haussmann was impressed by his professionalism. “You can't pick your family, but you can pick your work family. So, we've handpicked ours," quips Haussmann. He hires his employees based on the experience they create while working with him instead of the usual interview and hiring process. This has helped PMI to provide best-quality services and make them compete with leading companies such as GE and Siemens.
Key points Haussmann envision in the future roadmap— adding managing partners and developing the “X-ray-as-a-service” model, which is launching over the next twelve months. “We are currently actively entertaining multiple acquisitions also,” concludes Haussmann.