Total Cost of Ownership (TCO) for IoMT Solutions

For Internet of Medical Things (IoMT) solutions, the cost dynamics of building and maintaining the solution throughout its life cycle are shaped by the combined complexities of IoT and HealthTech.
On average, building the IoMT solution accounts for 30-40% of the Total Cost of Ownership (TCO), while maintenance makes up 60-70%. However, maintenance costs can escalate further due to poor decisions during the development phase or a lack of oversight and inefficient management across the various areas that require attention during the maintenance phase.
Timely preparation and maintaining a clear, comprehensive overview are essential to ensure the IoMT solution remains operational, compliant, and secure throughout its entire life cycle.