Economics

This channel highlights factors that impact hospital and healthcare economics and revenue. This includes news on healthcare policies, reimbursement, marketing, business plans, mergers and acquisitions, supply chain, salaries, staffing, and the implementation of a cost-effective environment for patients and providers.

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Radiology departments must look long-term to build financial resiliency after the pandemic

UW Seattle radiologists are cutting costs in the near-term to combat low imaging volumes, but say building future financial growth potential is key to a more stable outlook.

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Why the pandemic may be hitting female radiologists harder, and how hospitals and practices can counter

A recent study in JACR explored how video conferencing’s growing popularity in the profession may be having a negative impact on women. 

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Medical isotopes firm takes revenue hit amid pandemic, but says impact will be ‘relatively short lived’

Idaho Falls-based International Isotopes reported a 5% drop in revenue from nuclear medicine sales, primarily due to imaging clinics shutting their doors and suspending elective exams.

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Radiologists earn 81% of their potential bonus on average, more than most physicians

The majority of rads collect their entire incentive payment, but the next highest proportion only achieved 25% of their bonus or less, according to the 2020 Medscape Radiologist Compensation Report. 

Outpatient imaging suffers massive declines at mega hospital system located in COVID epicenter

Investigators from Northwell Health hope such data could prove pivotal in making a case for further relief from federal and state governments. 

5G innovation lab opens to support AI development, edge computing, more

The lab’s leaders are pledging to support innovators in various industries—including healthcare—who will have a hand in the rise of 5G technology.

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One state’s hospitals saw $650M drop in revenue, with radiology cancellations a key factor

New Jersey providers have been beset by a double whammy of financial challenges during the pandemic, with hospital expenses also increasing by $214 million per month. 

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Pandemic-induced economic recession will likely hinder radiologist recruitment for years

Such was the case in 2009, when the Great Recession brought about a “protracted, seven-year struggle” to recruit medical students into the specialty, experts wrote in Current Problems in Diagnostic Radiology.