As diagnostic imaging becomes even more complex, so, too, does the business of running a hospital. Margins are low, competition is high and hospitals are consolidating just to survive. Next-generation imaging solutions are emerging to take the industry to the next level. Industry visionaries have coined the term PACS 3.0 to describe the system of the future with patient-centric data and the fulfillment of anytime, anywhere access. But these visionaries have put the industry on notice that PACS 3.0 simply can’t be achieved without the ability to scale and interoperate with other systems. The burning question in the industry should be: how do we get from here to there?

Traditionally, advances in healthcare are built upon a formalized architecture of research and the application of the scientific method into healthcare decision making for the benefit of optimal care for a single patient or for populations of patients. The importance of data has continued to manifest itself in other areas of healthcare and influence behaviors with respect to information systems and technology as they relate to healthcare. Historically influential in business, data has become increasingly important to healthcare providers as a predictor and an analysis tool for their own businesses. But as radiologists struggle to maintain their independence and demonstrate their value in the healthcare process, no method proves to be stronger than listening to the experiences of peers, those experiencing success, and those experiencing difficult challenges as well, in order to build the strategies that radiologists will apply to their own businesses as a means to sustaining long-term success.

The 2015 proposed changes to the Medicare Physician Fee Schedule (MPFS) are consistent with those from previous years, continuing to whittle away the revenue stream of radiologists. While the overall impact to radiology is estimated at two percent based on the current proposal, there are some notable changes proposed that may cause the impact to be significantly higher in certain situations.

As radiology struggles to find its footing in an emerging healthcare delivery paradigm that emphasizes collaboration and accountability, radiologist Rasu Shrestha, MD, finds himself at the center of the fray at the University of Pittsburgh Medical Center, Penn., where he was recently named chief innovation officer and president, Technology Development Center.

As valuation professionals, we actively follow publicly traded companies in the healthcare industry.  These companies provide insight into how company management and investors evaluate the opportunities and risks faced by a particular industry.  Challenges in the diagnostic imaging business are not unique; nearly all ancillary healthcare service companies are experiencing similar macroeconomic headwinds. However, ancillary healthcare stocks have continued to demonstrate gains.  

In imaging services, “getting it right” is of utmost importance when it comes to selecting the appropriate equipment, administering the correct radiation dose and delivering excellent patient care. Getting it right also is an imperative where staffing is concerned.

The seamless interface of information systems within an enterprise is the Holy Grail in health systems for good reason: Tight integrations can yield big benefits. After replacing its PACS and tightly interfacing the new system with its electronic medical record (EMR), Springfield, Mass.-based Baystate Health is reaping the benefits of streamlined workflow and improved patient care across its four hospitals, more than 10,000 employees, cancer center and heart and vascular center. 

When it comes to electronic communications for radiology, it’s all in the workflow, says Andrew Wells, MD, a radiologist with Hendersonville Radiological Consultants, an eight-partner practice that covers three hospitals in western North Carolina.