in the industry
Radiology” was the premier facility for
evaluating knee injuries, then MRIs
done of the knees at that facility should
be worth a premium.
And from conversations I’ve had
with senior management at Fortune 500
employers, they agree. Employers, particularly those that are self-funded in group
health and Workers’ Compensation, are
very open to higher short term costs if
they deliver better care and outcomes
over the long term.
While the ability to compete on measurable quality is critical to beating back
the forces of commoditization, a more
objective quality metric approach is good
for radiology as a whole. Facilities faced
with upgrading equipment can analyze
whether the investment required for an
expensive 3.0T machine is justified, or
if another piece of equipment might be
more financially feasible. While some
brain imaging is best on a 3.0T machine,
such a machine might be unnecessary for
some knee injuries.
Focusing on quality helps patients get
accurate treatment the first time, reduces
cost to the system as a whole by improving patient outcomes, and allows radiology providers to actually differentiate
amongst themselves. Most importantly,
it will help radiology cure the commoditization disease.
1Radnofsky L. “Steep Rise in Health Costs Projected.” The Wall Street Journal. June 12,
2012. Available at: http://online.wsj.com/
4577462731719000346. Accessed December 6, 2013.
Ron Vianu is the CEO and cofounder of Spreemo
( www.spreemo.com), a cloud-based healthcare
marketplace that offers cost transparency, quality-based metrics and predictive analytics.