Diagnostic Imaging Covers Radiology Practice Consolidation
NORWALK, Conn., March 25, 2013 /PRNewswire/ -- UBM Medica US announces that Diagnostic Imaging, a leading online publication for news and commentary of the medical imaging market, examined the factors and impacts of radiology practice consolidation.
Radiology groups are continuing to face consolidation and acquisition, leading to lost independence and potential commoditization. In this feature article, Diagnostic Imaging spoke with industry experts about what's driving the shift and what practices can expect. For example:
- If private radiology practices join with several other practices or a larger health system, they will likely benefit from an augmented ability to negotiate more favorable reimbursement rates from payers.
- Consolidation could provide for better access to patient records if they've had other studies done within the group, allowing for more coordinated, timely care.
- However, the industry could face perceptions of radiology as a commodity, which could drive prices down, force a greater focus on quantity and encourage less radiologist visibility.
Radiology consolidation is likely to continue, and when facing a merger or acquisition, groups must focus on developing a governance system and determining a common vision.
"Blending different practice cultures was much harder than we expected," said Cynthia Sherry, MD, radiologist and immediate past president of Southwest Diagnostic Imaging in Dallas, who lead her group through a merger. "But, culture eats strategy for lunch every time, so you have to be careful about melding cultures."About UBM Medica US Addressing today' s healthcare information needs, UBM Medica US, delivers strategic, integrated communications solutions and comprehensive reach—online, in print, and via custom programs. Improving the effectiveness of healthcare through information and education, UBM Medica US provides unbiased clinical, practical, and business information for physicians, providers, payers, and patients around the world. Through journals, magazines, websites, online communities, drug databases, digital events, and other valuable resources, UBM Medica US also delivers comprehensive communication solutions for the pharmaceutical and related industries. Websites include CancerNetwork.com, ConsultantLive.com, DiagnosticImaging.com, MusculoskeletalNetwork.com, OBGYN.net, PhysiciansPractice.com, PsychiatricTimes.com and SearchMedica.com. UBM Medica US is part of UBM Connect – which provides marketing services across a number of communities, the largest of which are healthcare, medical device design and advanced manufacturing. UBM Connect also includes UBM Studios, the global leader in interactive digital environments. UBM Connect is a UBM plc company. For more information, visit http://www.UBMMedicaUS.com
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