Though access to capital remains tight and Medicare dollars are hard to come by, managers of hospital radiology departments remain confident in their ability to turn a profit.
The key to success? Controlling costs as revenue shrinks.
“Controlling costs is critical for successful operations and adhering to best practices is more important than ever” said Roland Rhynus, CRA, President of The Association for Medical Imaging Management (AHRA).
The just-released, second quarter 2011 Medical Imaging Confidence Index (MICI), co-developed by The MarkeTech Group LLC and AHRA: The Association for Medical Imaging Management, reveals results from an online survey of 154 managers of radiology departments meant to assess their confidence in market conditions for the current quarter.
Here are the results for second quarter of 2011:
|Will grow monthly volume in diagnostic and interventional radiology||106||Neutral|
|Will receive adequate reimbursement from Medicare for diagnostic and interventional imaging||65||Low confidence|
|Internal operating and staff costs will remain constant||129||High confidence|
|Will have access to capital for imaging equipment and IT needs||89||Neutral|
|Will maintain/grow as a profit center||121||High confidence|
|Composite score across all areas||101||Neutral|
Confidence related to Medicare payments improved slightly from the first quarter, while manager's perceptions about capital availability dropped, but the changes were not statistically significant. (Review the full first quarter report.)
Every quarter, the same participants will be asked the same questions.
Because of how the longitudinal index culls responses from a statistical cohort of participants, the index is considered a sophisticated scientific measure and reliable gauge of the industry outlook, according to index developers. For each topic, the index posed this statement: "Over the next three months, I am very optimistic that our department ..." Scores measure their level of confidence (from extremely low to extremely high). What do you think?
Medical Imaging Confidence Index (MICI) was co-developed by AHRA:The Association for Medical Imaging Management and The MarkeTech Group, owner of the imagePRO panel, launched in 2008. MICI data rely on the feedback of a statistical cohort of respondents from the imagePRO panel that accurately represent the US market hospital market by bedsize and geographic areas.