Your TRUSTED Imaging Operations Consultants

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One of the main rationales for any healthcare merger or acquisition is the desire to cut the overall cost-to-earnings ratio. One organization buys another and then proceeds to cut and improve efficiencies in all the areas they can. One area where these efficiencies are very difficult to develop is equipment management. The reason for this difficulty is the disparity in management processes, equipment and utilization that exists from facility to facility. The most effective way for organizations to develop greater efficiency is to learn to view imaging assets as part of a larger portfolio, and manage the lifecycles of these assets accordingly. Republic Medical seeks to help Hospital IDNs and imaging groups derive more value from their existing equipment through:

  • Combining equipment and service valuation in our Equipment Portfolio View

  • Mapping an understanding of the facilities' equipment utilization

  • Incorporating lifecycle management strategies

  • Offering acquisition and liquidation expertise in your approach to imaging equipment portfolios

  • Compliance assistance, such as ACR Accreditation and XR-29

  • We want to help Hospital IDNs and Imaging groups better understand what equipment they possess, what it’s worth, how they are utilizing it (how much profit it brings in), and how they are servicing it (how much it is costing them).

Once these questions are answered, Republic Healthcare can assist in planning the right lifecycle management plan for an entire portfolio, including capital imaging acquisition, relocation, and liquidation.  Additionally, we can develop service strategies incorporating the appropriate mix of OEM service, third-party service, parts and labor agreements, time and materials agreements, and preventative maintenance agreements, as well as in-house biomedical programs. 

Diagnostic Imaging Assessment

Do you know what the diagnostic imaging (radiology) department's contribution is to your institution's total revenue? Chances are it is much more important to the financial health of your organization than you might have imagined. Despite this contribution, most radiology departments are under significant pressure to generate more. Significant reductions in reimbursement rates for imaging procedures over the past several years have made improved performance extremely difficult.  

Unfortunately, most department heads don't know how to improve their outcomes because they are too busy trying to "keep it all together". If they can get their heads above water, it is difficult to know what to do first!

The formula for running a profitable diagnostic imaging department is simple.

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If you have the right services and locations, being marketed to the right referrers, and the locations have the right equipment being manned by the right staff, who are scheduling patients by using the right process... YOU WIN.

The formula is simple, but the "right" variables are incredibly complex.

  • Do you have clinical sales and marking staff that is specifically dedicated to Diagnostic Imaging?

  • How do you know if you are Providing the right services in the right locations?

  • What is your capital equipment management plan?

  • How do you know if you have the right staff (training and numbers) for your needs?

  • Is your scheduling process maximizing the potential of your staff and equipment?

  • All of a sudden the simple formula feels incomprehensible because your answer to many of these questions is: "I think we...." However, what you "think" may not be true to the facts.

Our partners specialize in working with organizations like yours to uncover the metrics needed to identify and understand the correct answers to these questions, and many more. We do this to help you to balance your radiology program within the winning formula to ensure that your department’s value to your organization can significantly increase. 

“Data driven assessments yield valuable insight into trends and forecasts while identifying areas of weakness in your diagnostic imaging programs.”

— Bruce Elder of MedQuest Associates in Radiology Today Managing to Succeed: Where Do You Really Stand?

 

Would you like to learn more?

Download a white paper: 5 Ways to Improve the Profitability of Your Radiology Operations