By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    bowl of vegetable salad
    Raw Foods: benefits and harms
    November 9, 2021
    pros and cons of the keto diet
    Read This Before You Follow the Keto Diet
    May 18, 2022
    spinal cord injuries
    4 Potential Causes of Spinal Cord Injuries (and How to Seek Compensation)
    May 25, 2022
    Latest News
    5 Steps to a Promising Career as a Healthcare Administrator
    July 31, 2025
    Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
    July 20, 2025
    How Probate Planning Shapes the Future of Your Estate and Family Care
    July 17, 2025
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Effective Healthcare Requires a Social Approach
    June 15, 2015
    CCBHCs
    2016 Excellence in Behavioral Health Program Design
    February 23, 2016
    conducting Clinical Trial
    5 Tips for Conducting a Clinical Trial
    April 21, 2024
    Latest News
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
    How Health Choices and Legal Actions Intersect After an Injury
    July 17, 2025
    How communities and healthcare providers can address slip and fall injuries with legal awareness
    July 17, 2025
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Shared Risk Reimbursement: 5 Challenges and Opportunities for Radiology
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Finance > Shared Risk Reimbursement: 5 Challenges and Opportunities for Radiology
BusinessFinanceRadiology

Shared Risk Reimbursement: 5 Challenges and Opportunities for Radiology

Andy Salmen
Andy Salmen
Share
4 Min Read
SHARE

man-96868Accurate and efficient radiology billing can prove tricky, especially with so many factors influencing the final outcome. Still, maintaining a healthy revenue stream is possible for any healthcare provider so long as the practice adheres to a handful of best practices. Many of them are fairly common sense but, if ignored, can prove detrimental in the long-term.

man-96868Accurate and efficient radiology billing can prove tricky, especially with so many factors influencing the final outcome. Still, maintaining a healthy revenue stream is possible for any healthcare provider so long as the practice adheres to a handful of best practices. Many of them are fairly common sense but, if ignored, can prove detrimental in the long-term.

To achieve business objectives, service providers will need to be aware of the potential obstacles and rewards of participating in medical shared risk reimbursement agreements.

More Read

Clinical-Trial-Marketing-Clinical-Trial-Patient-Recruitment-eRecruitment
Why Selecting the Right Digital Advertising Vendor Matters for Your Clinical Trial
A Healthier Conversation
Wait Watchers: ER Appointments Differentiate a Hospital Brand
The End Of Healthcare As We Know It
A Culture of Safety in Hospitals and the CEO’s Role

1. Bring Costs under Control

Although advances in diagnostic imaging have been instrumental in improved diagnosis, a reduced number of invasive procedures, and enhanced patient care, it has also come under scrutiny as one of the primary contributors to escalating healthcare costs.

Consequently, reimbursement cuts for diagnostic imaging and the transition to a shared risk reimbursement arrangement makes controlling expenses essential for radiology practices.  Staff salary and wages represent the biggest expense categories, followed by facility leasing costs, supplies and administrative expense.

Some facilities address cost by cross training staff to take on more responsibilities managing equipment.  Another approach is to evaluate industry benchmarks for expense categories and use the information to bring your costs in line with, or below, the norms.

2.  Become More Visible and Indispensable

The new shared risk reimbursement model positions radiology practices to build stronger relationships with the hospital they contract with, including sitting on committees and medical boards.  Embrace the role of becoming more of a consultant and making yourself available for clinical questions, which create opportunities for additional revenue streams.

3. Improve Radiological Reports

Shared risk reimbursement makes quality radiological reports even more critical for service providers.  Reports must not only be accurate and timely—cited by physicians as the most important components of a report, but also help physicians make diagnostic and treatment decisions.  Radiologists can improve their value by eliminating errors and improving the clarity of reports to ensure that they are easily understood by specialists and primary care physicians as well as patients.  This can be accomplished by avoiding radiology-centered jargon where possible and to use the same terms to describe the same condition, which helps avoid confusion. 

4. Better Use of Data

The medical shared risk reimbursement model requires radiology services and other providers to accept more financial liability for reaching certain financial or quality targets.  This requires participants to collect, track and transmit large quantities of data related to diagnostic imaging. Data mining enables the provider to analyze data sets to uncover patterns, which can be used to make projections and develop strategies.

Important data points include productivity levels, procedure counts, charges and reimbursement, which can be used to better understand how the radiological services function from a business and operational standpoint.

5. Adjust Workflow Practices to Coding Changes

ICD-10, which goes into effect in October 2015, will likely have a significant effect on the coding groups used by radiologists.  In addition, radiology service providers participating in medical shared risk reimbursement agreements will likely also be affected because of the reliance on referring physicians.  Supporting the “medical necessity” for radiological services will require sufficient documentation, especially for injuries, fractures and traumas.

Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

5 Steps to a Promising Career as a Healthcare Administrator
5 Steps to a Promising Career as a Healthcare Administrator
Health
July 31, 2025
holistic dental
Holistic Dentist Services Are Natural and Safe
Dental health Specialties
July 28, 2025
botox certification
Help Improve People’s Skin Health Via Botox Certification
Skin Specialties
July 22, 2025
Telemedicine Apps
Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
Health
July 20, 2025

You Might also Like

changes brought on by blockchain in healthcare
BusinessHospital AdministrationMedical InnovationsTechnology

Blockchain Technology is Changing the Trajectory of the Healthcare Sector

March 6, 2022
Readmission Reduction Program
BusinessFinanceHealth ReformPolicy & LawPublic Health

9 Criticisms of the Readmission Reduction Program

June 6, 2014

Innovating Your Way to a Patient-Centric Emergency Department

March 11, 2012

Giving Interns More Sleep is Not Making Hospitals Safer

August 13, 2011
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?