Should your practice have an MRI?
Stephen Veals
CEO MRI Consulting Group
May 26, 2024
Is MRI the Right Diagnostic Tool for Your Practice?
If you are an orthopedic or specialty group member considering an MRI project, you will want to make sure that an MRI is clinically the right diagnostic imaging modality for your patient profile.
I was involved in a project several years ago in which a group of ENT physicians initially expressed interest in participating in an exciting MRI project, only to realize that the project would not suit their needs.
This ENT group had typically ordered MRIs and CTs in their medical practice, which is common.
However, upon closer review, they realized if they could only select one primary imaging modality, in terms of clinical necessity, a CT unit was what they used diagnostically slightly more often than the MRI.
Before deciding if your practice should have an MRI, it is important to ensure that, clinically, the MRI is the best diagnostic tool for your medical group. To do so, closely review your medical practice's ordering and diagnostic referral patterns for the most recent year of operations. You may consider MRI, CT, or even both!
That said, if you are part of a growing medical group or a multiple specialty group and the group has the diagnostic imaging ordering volume and the clinical necessity to make multiple imaging modalities profitable, you can maximize your opportunities and cost savings by installing both an MRI unit and a CT unit simultaneously. You may be a medical entity that can significantly benefit from implementing Multiple Diagnostic modalities simultaneously.
Cost Saving Efficiencies
If you have a patient imaging referral base and are interested in implementing multiple imaging modalities, you can achieve significant cost-saving efficiencies and resulting revenue-enhancing opportunities.
These cost-saving efficiencies include a shared control room, dressing rooms, equipment, supply rooms, waiting area, diagnostic and technical staff, and design and build-out efficiencies. Implementing multiple imaging modalities can also offer advantages in contract negotiations with managed care and insurer entities, which can work extraordinarily well for medical practice groups.
In addition to MRI and CT, you can include other complementary, cost-effective, and profitable diagnostic imaging modalities, such as Ultrasound and Radiography.
Don’t overlook Ultrasound.
Ultrasound is an increasingly sought-after diagnostic and interventional modality, with a significant increase in usage among Orthopedic Surgeons.
Ultrasound studies offer very good reimbursement amounts compared to those seen with an MRI scan.
This is important to consider as the investment in an Ultrasound unit is roughly 10% of the cost of MRI equipment. It is easy to maintain, and the site requirements, costs, and prep are minimal.
Ultrasound can provide a tremendous new revenue stream and meet additional clinical needs for practice patients.
We can assist with exploring all imaging options that could suit your practice needs and contribute to your bottom line.
Read these additional pages for more in-depth information:
Can my medical practice have a profitable MRI?