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Trends in radiology and medical imaging industry continues to quickly change the healthcare landscape affecting radiologists, healthcare facilities and radiology groups.
Challenges in Radiology
- Mednax to sell vRad radiology business and the company “now owes about $1.66 billion in net unpaid debt.”1,2
- Medical imaging volume has been sharply impacted where “exam volumes have seen declines of between 40% and 90%”3
- Shut down of radiology companies due to lack of funding (i.e., Aris Radiology) or due to mergers4,5
- Shortage of Physicians6
- Budget constraints to hire in-house radiologists
- Getting 24/7 coverage for medical imaging readings during emergency, day and nighthawk times
Read more about these challenges as sourced below.
Sources:
1Radiology Business News, Marty Stempniak | June 05, 2020 | Healthcare Economics & Policy
2Mednax to sell its $550M Radiology Solutions business line, change name back to Pediatrix
3AuntMinnie.com, Kate Madden Yee. Private radiology practices hit hard by COVID-19. July 17, 2020
4COVID or Not, Big Money is Buying Radiology Practices. Should Yours Be Selling? Julie Ritzer Ross | April 29, 2020 | Radiology Practice
5AuntMinnie.com, Erik L. Ridley. National radiology group Aris shuts down. March 17, 2020.
6Association of American Medical Colleges (AAMC). Patrick Boyle, U.S. physician shortage growing. June 26, 2020
Find out how Excalibur can support health systems, outpatient diagnostic centers, rural health and critical access hospitals medical imaging needs with stability, peace of mind and patient centric service.
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