Q. IMAGING ECONOMICS:

David Mahoney, MBA

?What is the current business outlook for radiology as a whole?

A. MAHONEY:

There is no doubt that radiology is faced with challenges. Declining reimbursements, competitive pressures, decreasing capital equipment budgets, and talent shortages make it difficult for radiology groups to thrive, but new technology provides a tool to overcome these existing obstacles and create new opportunity as well. Radiology groups that make smart investments in technology can reap the rewards not only of efficiency gains, but of improved revenue potential.

Q. IMAGING ECONOMICS:

What factors will determine which radiology providers survive and thrive in the near future?

A. MAHONEY:

The key component for success in this environment is the radiology provider’s ability to remain competitive. This means that radiology needs to deliver exceptional customer service, continuing to meet the needs of referring physicians and clinicians while, at the same time, developing relationships and adding value to them. Radiology services must remain ever available, accurate, and responsive. A group that can achieve this will most certainly secure its future stability and growth.

Q. IMAGING ECONOMICS:

How is the Internet affecting radiology?

A. MAHONEY:

The Internet is affecting radiology in a very positive way. The Internet provides radiology groups, departments, and providers a ubiquitous medium through which they can now deliver their products and services to their customers in a more economical and efficient manner. The Internet is providing the backbone on which radiology can promote itself and enhance its value in the health care delivery equation.

Q. IMAGING ECONOMICS:

Are data security and privacy major concerns?

A. MAHONEY:

The security and privacy issues raised by the Health Insurance Portability and Accountability Act (HIPAA) are now covered by known guidelines that will require compliance. Security and privacy are not of so much concern now that the HIPAA guidelines have been promulgated. The issues now are education, implementation, timing, and adherence. In many respects, the Internet provides a means of ensuring HIPAA compliance.

Q. IMAGING ECONOMICS:

What changes in radiology’s use of information technology and the Internet would you predict for the coming 5 years?

A. MAHONEY:

The Internet will clearly take on an increasingly large role as a communications medium and enabler of information work flow over the coming years. The concept of Internet-based image and information applications economically addressing the needs of the health care delivery system is valid today. Internet-based applications and radiology business and marketing tools will facilitate radiology information flow across the entire enterprise. Radiology practices that are implementing an Internet-based strategy today will be in a better competitive position than those that wait. They will have more secure relationships with the referring physicians who become accustomed to working with them through electronic methods.

Q. IMAGING ECONOMICS:

What strategies can institutions that have difficulty finding capital use to keep their technological capabilities up to date?

A. MAHONEY:

There are alternative means of funding new technology solutions available to institutions today; these means range from the application service provider type of pricing to standard leasing vehicles. The lack of a capital equipment budget should not mean that an institution has to go without technology. Many return-on-investment models now address productivity gains and cost reductions. Institutions should also begin looking at how technology implementation can offer revenue opportunity through improved throughput and increased referrals.

Q. IMAGING ECONOMICS:

Can eMed help institutions understand, and plan for, their radiology information needs?

A. MAHONEY:

Absolutely. This is eMed’s business. For the past 15 years, we have been working with institutions and radiology groups alike in educating, planning, and implementing image-management and information-management systems. From teleradiology to mini picture archiving and communications systems (PACS) through full-blown filmless implementations and, now, radiology information system capability, eMed’s sole focus is the business of radiology information management.

Q. IMAGING ECONOMICS:

Which types of facilities are most likely to benefit from eMed’s services?

A. MAHONEY:

We have a wide range of customer profiles benefiting from our technology today. From large hospital enterprises to multiple-facility imaging centers, our PACS technology is in place, bringing value to the customers who have implemented our solutions. We also have many radiology groups who have eMed’s teleradiology technology and are now building on their investment and moving to full eMed PACS solutions. Entrepreneurial radiology groups and imaging centers are also bringing PACS to a new level with eMed by implementing web solutions. They are finding that the service level and added value they are able to bring to their referring physicians via web is giving them a tremendous competitive edge.

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Kris Kyes is technical editor of Decisions in Axis Imaging News.