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In recent years, there has been a significant uptick in mergers and acquisitions in the radiology space. According to a recent article from Radiology Business, nearly 3,500 physician practices that provide radiology services disappeared from the Medicare Provider Data Log between 2015 and 2022.
Of the associated physicians from these disappearing practices, 46% of them moved to a large multispecialty group. This trend reflects the state of the radiology practice landscape, which is increasingly trending toward large radiology groups, with a 349% increase in practices that employ over 100 radiology professionals in the past decade.
So, what’s driving this trend? Healthcare valuation and consulting firm Healthcare Appraisers (recently acquired by Stout) attributes this trend to several factors.
Amid these changes, radiology groups face several hurdles. Integrating different systems, maintaining data integrity, and ensuring consistent workflow can be daunting. This is where solutions, such as InteleOrchestrator and InteleOne, come into play. Designed to streamline and automate workflows, these solutions address many of the complexities associated with M&A, providing a unified platform for seamless integration and improved operational efficiency.
Unifying disparate radiology practices during mergers and acquisitions presents a multitude of challenges. These include operational, financial, technical, compliance, and workplace-culture issues.
Addressing these multifaceted challenges requires strategic planning, robust technology solutions, and effective change management practices. This is where technology such as Intelerad’s solutions come into play, providing essential support for radiology practices navigating the complexities of M&A.
Problems like these require dynamic and adaptable solutions, specifically ones that can support and integrate multiple system types. Intelerad products InteleOrchestrator and InteleOne can significantly ease these challenges, making the merger process more straightforward and simple.
InteleOrchestrator tackles integration, workflow, data management, and operational issues with ease.
InteleOne targets access and continuity so that no patient is left behind.
Both InteleOrchestrator and InteleOne provide tools and features that support change management initiatives, helping staff adapt to new systems and workflows more easily.
By leveraging these solutions together, radiology reading groups can navigate the complexities of M&A with greater ease, ensuring a smooth transition, enhanced operational efficiency, and continued high standards of patient care.
Columbus Radiology Corporation (CRC), a leading subspecialty radiology group, faced significant challenges due to rapid growth and the complexity of integrating various systems across multiple sites. To address these issues, CRC implemented InteleOrchestrator. This solution provided a unified workflow, integrating eight different dictation systems and multiple PACS without requiring client sites to change their processes. The result was a 50% increase in efficiency, streamlined operations, and improved patient care continuity.
The ability to dynamically organize reading tasks based on radiologist subspecialty, credentials, workload, location, and availability allowed CRC to maintain high standards of service while expanding its client base. The Productivity Gauge feature enables real-time workload balancing, ensuring fair distribution of work for optimal productivity. Seamless integration and operational consistency were crucial at this complicated time for CRC, enabling them to manage their rapid growth effectively and continue providing high-quality, uninterrupted, radiological services.
By leveraging Intelerad’s InteleOrchestrator, CRC not only overcame the challenges of system integration and workflow management but also fostered a more harmonious work environment, demonstrating the product’s capability to support dynamic and growing radiology practices through complex M&A processes.
For more details, you can read the full case study here.
Navigating the complexities of radiology group mergers and acquisitions requires robust and flexible solutions. Intelerad’s InteleOrchestrator and InteleOne provide exactly that, offering seamless integration, automated workflows, and real-time access to patient data. These tools ensure operational efficiency, enhance data management, and maintain continuity of patient care, making them invaluable during the M&A process.
To see these powerful features in action, check out InteleOrchestrator and InteleOne, or book a demo to experience firsthand how these solutions can benefit your practice.
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