RBMA hosted their annual meeting in sunny Hollywood, Florida at the Diplomat Beach Resort. Under the name PaRADigm, it ran from April 2-5. We exhibited on the show floor, and our founder & CEO, Parag Paranjpe, also spoke at one of the sessions. Our booth visitors and session attendees approached us to learn more about HealthLevel and the capabilities of Foundations™. Many also shared the operational challenges they were facing as well as the solutions they were looking for. Below, we share our top three takeaways summarized from those conversations.
1. Leaders are Looking for Operational Efficiency Because of Thinning Margins
It’s no secret that CMS reimbursements continue to decrease year after year. It was a hot topic in our conversations as many leaders shared their concerns about running operations effectively as reimbursements continued to decrease. (According to Radiology Business1, radiology absorbed a 44% Medicare reimbursement reduction over the last decade, and AuntMinnie.com2 reported a 1%-3% decrease in 2023 Medicare reimbursement rules.) Many went on to express the difficulty in maintaining visibility over all operational performance as volume grew – effectively obscuring key areas they want to improve: patient throughput, staff performance, and financial health. They’re looking for solutions to help them do more with less, and for them, this means making their operations more efficient as each study yields less revenue.
2. Leaders are Investing More in Staff and Technology to Reduce Burnout
Many of our visitors also shared that they understood the value of their staff’s talent and the need for technology to scale. Staff burnout is a widely recognized issue that directly impacts staffing requirements for meeting patient volume demands; those who experience burnout perform below their capabilities due to dissatisfaction, which could lead to a departure from the organization, or worse yet, an exit from the industry entirely. Leaders are recognizing that staff investments lead to greater loyalty, increased job satisfaction, and overall operational productivity improvements. Investment examples include increased pay, ongoing training, performance recognition, and of particular interest, technology. Leaders want intuitive visibility into operational health to make key decisions that improve operational performance, and this includes getting a deeper understanding of whether they’re understaffing (e.g., contributing to staff burnout and eroded patient experiences) or overstaffing (e.g., leading to staff boredom and financial waste.) Technology also helps by automating workflows at a scale that only it can achieve, which frees staff up to focus on areas that matter to them rather than be bogged down by administrative chores.
3. Leaders are Looking for All-Encompassing Radiology Operations Software
We learned that many of our visitors had already invested in some type of radiology operations software. Some shared that it only gave them a sliver of what they needed (i.e., it didn’t give them the full picture of operations) or the level of support provided was below their expectations. Meanwhile, a few others shared that their go-live date was months behind schedule, causing them to second-guess their selection. In all cases, these experiences drove them to search the market again for other solutions, which included them visiting our booth to learn more about Foundations™. We had the opportunity to share that benefits of a radiology business platform, and it also underscored the importance of choosing a software partner, rather than choosing a software platform.
We absolutely enjoyed our attendance of RBMA 2023 PaRADigm. (Many thanks to the RBMA team!) The location was beautiful, the sessions & conversations were educational, and most importantly, it was incredibly productive to connect with new and familiar faces. We appreciated how our booth visitors opened up to us about their industry concerns, their investments in staff & technology, and their need for robust radiology operations software. We’re continuing many of these conversations and relationships post-meeting. We also realize that many our readers are experiencing the same challenges we described here. Contact us – especially if you couldn’t visit us at PaRADigm – to discuss how Foundations™ can help improve the efficiency of your radiology operations. Until then, see you at the next show!
HealthLevel is the creator of Foundations™, a radiology business operations platform. By combining financial, clinical, and operational data, it uses analytics to paint a complete picture of a business’s operations. It engages every team member to confidently take actions that improve productivity and increase the bottom line. Learn more.