With rising costs and decreasing reimbursement, outpatient imaging exists in an increasingly challenging business environment. Yet the needs of the population for imaging services continue to grow, a trend that will only accelerate as the population ages and as the advance of imaging technology continues. Recognizing the new dynamics of the industry, Radsource believes that a joint venture strategy with key local partners provides the best foundation for future outpatient imaging success. Radsource therefore seeks out partnerships with hospitals and/or progressive radiology practices. Through careful planning and execution, and a relentless focus on quality, we provide the foundation for success in outpatient imaging.
Radsource's experience and knowledge in joint venture business transactions is rooted in its history. Its parent company, United Surgical Partners International, has successfully partnered with numerous physicians and many of America's most respected healthcare systems. Our broad operational expertise combined with our medical knowledge and "in the trenches" experience in the practice of radiology makes Radsource ideally suited to help you succeed in today's challenging outpatient imaging market. As an equity partner in imaging centers, Radsource puts "skin in the game," assuring you that our interests and motivations are aligned. We do not require a majority stake and carefully consider the desires and regulatory requirements of any partner when structuring a joint venture relationship.
Approach to Development
As a prelude to center development, Radsource conducts thorough due diligence of the opportunity at hand. This includes detailed assessments of demographics, existing and future competition, payor mix and reimbursement, referring physician characteristics, and radiology professional services. Potential equipment needs and costs are evaluated, and detailed modeling of financials is performed. The analysis may not result in a positive outcome, but Radsource feels it is important to be selective and would not recommend that a potential partner pursue a project that appears unsafe, with or without our participation.
When a decision is made to develop a project, Radsource provides all necessary services to ensure an efficient and timely outcome. Development services include:
- Feasibility and Demographics Study
- Partnership Formation
- Facility Planning
- Construction Management
- Negotiation of Real Estate Leases
- Equipment Purchase and Lease Arrangements
- Funding and Financing Arrangements
- Pre-opening Marketing
- Preparation for Initial Operations
Health care providers are faced with increasingly difficult financial conditions, and as a result a lack of access to capital may limit opportunities in outpatient imaging. As your joint venture partner, Radsource is able to provide necessary operating capital and to obtain favorable terms on short and long term financing, generally with no recourse required beyond the level of the new entity LLC.
Day to Day Management
Before and after center opening, Radsource assumes all responsibilities for ongoing operations. Joint venture partners are able to decide what level of operational participation they desire. Radsource services include but are not limited to:
Unique to the outpatient imaging market, Radsource's EDGE (Every Day Giving Excellence) for Imaging provides key benchmarking and performance indicators, allowing continual improvement and learning that results in superior patient care and financial performance.
- EDGE for Imaging
- Financial Planning and Budgeting Services
- Proprietary Operating Systems and Best Practice Reviews
- Partnership Management and Administration
- Business Office Management
- Managed Care Contracting
- Purchasing and Supply Cost Management
- Oversight of professional interpretation services
- Legal and accounting
- Policies and procedures
- Center Marketing
- Compliance and Legislative Support
- Information Systems Support
- Personnel Administration
- A nationwide human resources and benefit program
- Insurance Programs
- Sales Support
- Accreditation Preparedness
Radsource's combination of operational expertise and clinical acumen uniquely positions the company in the outpatient imaging arena. Very few if any imaging companies can boast such strong clinical knowledge of the practice of radiology and such extensive experience in outpatient imaging development, both of which are further strengthened by a core partnership with United Surgical Partners International. Radsource is a partner that can be counted on to lead an imaging facility to excellence in economic performance and patient care.
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