Integrated Imaging Service Lines Critical for Healthcare Providers to Gain Higher Efficiencies
Advanced imaging technologies and integration of capabilities vital to deliver value-based care and drive revenue growth, finds Frost & Sullivan
SANTA CLARA, Calif., Nov. 4, 2019 /PRNewswire/ -- In the quest to reduce costs and make optimal use of health systems, hospitals have increasingly consolidated into larger integrated delivery networks (IDNs). In medical imaging especially, providers that are looking to achieve true economies of scale and initiate a cycle of cost efficiency and growth are evolving from running a collection of departmental imaging solutions to implementing integrated imaging service lines (ISL). The success of the ISL concept is based on the four pillars of technology management, enterprise integration, cost-efficiency and, eventually, business growth.
Frost & Sullivan's unique thought leadership brief, Fuel Growth in Imaging—How to Commercialize Your Imaging Service Line to Fuel Growth in a Consolidating US Healthcare Market, analyzes the factors required to roll out an enterprise-wide integrated ISL. It examines the outcomes that can be measured and improved as well as highlights the four organic and inorganic growth opportunities presented by integrating and commercializing an ISL.
To download the complimentary brief, please visit: www.frost.com/fuelgrowth.
"The way medical imaging organizations continue to justify and realize their technology investments is proving increasingly more unsustainable. Value-based healthcare makes it critical for imaging operations to augment and demonstrate their value in order to be aligned with institutional-level, value-based purchasing frameworks," explained Daniel Ruppar, Transformational Health | Consulting Director at Frost & Sullivan. "The best practice for attaining this goal is to invest in appropriate, carefully selected, and planned professional imaging resources, additional capacity, technology, and services that can combine into an integrated ISL."
Providers can uncover significant organic and external revenue opportunities over 18-30 months after the commercialization of an integrated ISL by:
- Investing in a high-availability platform of specialized imaging experts and the latest imaging capabilities to increase out-of-network referrals and minimize leakage. Out-of-network referrals are expected to result in a 10% increase in magnetic resonance imaging (MRI) study volume within IDN, which can translate to a revenue increase of $2.9 million. Meanwhile, recovered and prevented network leakage is likely to augment computed tomography (CT) study volume by 15% and total revenue by $7.18 million.
- Leveraging teleradiology to boost CT studies volume by an additional 20,000 and ultrasound studies by 10,000. The professional revenue gain from this is anticipated to be $1.6 million.
- Distributing the ISL workload in an orchestrated manner across available resources, while developing tele-imaging activities to obtain adjunctive sub-specialty and final coverage. Providers are forecast to achieve an additional 200,000 exams in Florida and raise professional revenue by $6.9 million.
- Demonstrating the reduced cost per relative value units (RVU) led by lateral consumption of additional ISL capacity to acquire greater leverage in shared-risk contracting and payment model negotiations.
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SOURCE Frost & Sullivan
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