SOURCE: Captive Radiology

Captive Radiology

October 04, 2011 10:00 ET

Experts Provide Advice to Maximize Medical Imaging Services Profits

CANTON, OH--(Marketwire - Oct 4, 2011) - Medical imaging services for hospitals, clinics or physician practices can boom or bust depending on the quality of the upfront analysis and the counsel that guides buying decisions, according to the experts at Captive Radiology.

Captive Radiology co-owners Joe Palmisano and Dave Kelly credit their company's 100 percent success record in leading healthcare clients to profitable medical imaging services to thorough analysis of business needs and careful consideration of the budget for new equipment. In many cases, their counsel leads to clients transitioning into fixed-base medical imaging services.

"We advise our clients, 'Don't decide on emotion and don't overspend based on sloppy counsel,'" Palmisano said. "That sounds simple, but it really is the essence of how healthcare businesses can make money through their medical imaging services. We all know how important it is for healthcare organizations to maximize their revenues wherever they can."

Kelly counseled upfront analysis should include examining business and clinical needs in the context of the budget.

"Your front-end analysis and budget must mesh. If you make a mistake up front, like over-buying or over-developing your radiology imaging services, making money will be very difficult," Kelly said.

He and Palmisano agree that once the analysis is complete and the technology is installed, the profitability of the medical imaging services depends on patient satisfaction and maximizing the hours the equipment is in operation.

"Fixed-base radiology imaging services provide more days and more hours of operation. Mobile radiology results in missed days, and missed profit opportunities," Palmisano said.

Kelly said the quality of service should be deliberately aimed at making patients into fans of the radiology imaging services. "Again, it comes down to the basic fact that if you make your patients' experiences satisfactory, you create goodwill that leads to more revenue and improved profitability," he said. "Mobile, compared to fixed-base, can be an incomplete solution in terms of service and in patient satisfaction."

About Captive Radiology
Captive Radiology, formerly Physicians Imaging Solutions, is the nation's leader in fixed-base radiology services for hospitals, surgical centers, physician groups and clinics. The Canton-based company assumes responsibility for clients' radiology equipment needs -- from design to construction, and from equipment selection to staffing. Employing nearly 40 professionals, Captive Radiology has managed installations throughout the U.S. improving client radiology departments' performance and revenue capture. Visit www.captiveradiology.com.

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