Capitalizing on existing IT systems is a
logical solution to take the mystery out
of cost assignment of radiology services.
With this application, a facility like Mayo
will be able to have data instantly which
will allow them to be proactive in their
practice and make changes for the betterment of the patients, improve radiology
finances, and become better stewards of
resources. Using data leveraging to implement ABC for imaging services provides
leaders with detailed knowledge of their
profit margins thus giving them the competitive edge in the marketplace. Managing costs to improve profit margins will be
the key to survival for hospital based and
outpatient imaging service providers.
Figure 2 • IT systems identified to supply necessary data.
increase in procedure time was the result
of a clinical pilot conducted at the location on the particular scanner. The clinical pilot began in the end of March and
continued throughout April. The ABC
solution enabled quantification of the
cost increase associated with the clinical
pilot—a cost that otherwise would have
gone unnoticed. If they had this information in May, they could have made operational changes to reduce the cost and still
successfully conducted the pilot.
Radiology professionals must continually
adapt to evolutionary changes in the business environment and become educated
to meet the challenges that these changes
create. Ongoing pressures that squeeze
profit margins will force healthcare providers to examine costs more closely than
ever before. Effective systems are needed
to aid managers with their clinical and financial decisions while balancing quality.
Paul H. Monge, RT, RDMS, CRA, BS, is the vice president
of clinical specialists with MedidaMetrics®, Inc. He
possesses more than 30 years of radiology clinical and
operational experience. He holds a bachelor’s degree
in healthcare management.
Nicole Bolinger-Perez, RT(R), BS, MPA, is a radiology
clinical specialist with MedidaMetrics®, Inc. She possesses
more than 20 years of clinical experience in the imaging
industry including more than 10 years of radiology and
women’s healthcare administrative experience. She
holds a master’s degree in public administration.
Kent Boysen, BS, MPA, is the operations manager in
the department of radiology at the Mayo Clinic. He
has more than 15 years of healthcare experience and
in business administration. He holds a master’s degree
in business administration specializing in healthcare
Figure 3 • Sample cost difference in a labor item (not actual data from Mayo).