By David M. Yousem MD MBA, Norman J. Beauchamp Jr. MD MHS
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Additional resources for Radiology Business Practice. How to Succeed
Once we have completed our analysis of these elements of revenues we should build a model designed to project volumes from the ‘‘bottom up’’ that specifies numbers by modality for each office location. The modality totals will be summarized by the payer and appropriate reimbursement rates will be applied to arrive at net revenues. The ‘‘other net revenues’’ category could include fees derived from billing or management services. Income Taxes Net Income ........ correspondingly could increase our ability to grow above market or historical rates?
10. Lose hope. Fail to inspire. REFERENCES 11. Jones DT, Roos D, Womack JP: The Machine That Changed the World. New York, Simon & Schuster, 2007. 12. Leadership in literature: a conversion with business ethicist Joseph L. Badaracco, Jr. Harvard Business Review (March 2006), pp 47–55. 13. Robbins CJ, Bradley EH, Spicer M: Developing leadership in health care administration: a competency assessment tool. J Health Manage 46(31):188–202, 2001. 1. Ratchenevsky P: Genghis Khan. Oxford, UK, Blackwell, 1983.
These referral patterns can be broken with better technology offerings as well as service improvements. Lastly, government licensing issues such as Certificates of Need (CON) can prevent new entrants. Currently, these exist only in a few states. The bottom line is that the barriers to entry in the diagnostic imaging industry, which were once monumental, have sharply eroded in the past five years and as a result there are many new outpatient centers. PRESSURE FROM SUBSTITUTE PRODUCTS This is really not an issue for the overall imaging industry, but it is true that within radiology, multidetector CT angiography has eroded some of the marketing position previously held by MR angiography and duplex sonography.
Radiology Business Practice. How to Succeed by David M. Yousem MD MBA, Norman J. Beauchamp Jr. MD MHS