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Research firm finds reinvesting in CT brings financial and healthcare benefits

Business News
Philips CT MarketingPhilips Healthcare

Research firm finds reinvesting in CT brings financial and healthcare benefits

Sg2 recently published a detailed white paper containing research findings on the benefits of reinvesting in CT. In it, Sg2 found that regularly upgrading your CT equipment and software can lead to new revenue generating benefits such as new applications, improved workflow and enhanced operating efficiencies.

 

According to Sg2's research, it is vital to manage technological change and anticipate growth trends in order to keep your institution at the forefront of patient care. From 2005-2015, the US Market is expected to have procedure volume growth of 1,228% for CT Angiography - chest/thorax, 1,210% for CT Angiography - lower extremities, 258% for CT Angiography - head/neck and approximately 63% for CT - lower and upper extremities.

 

" Perhaps no other application of CT will have a more dramatic impact on procedure volumes than the assessment of cardiovascular disease. CT angiography is quickly becoming an accepted test for evaluating stenoses of the coronaries and will soon be adopted in the emergency department for triage patients with chest pain. Over time, CT angiography will replace many diagnostic caths; however, it will also lead to more interventional procedures to treat disease that is found earlier."

 

Besides anticipating areas of growth, it is important to look for application upgrades that will allow for better operating efficiency and increased patient throughput. "A good rule of thumb for a "typical" CT outpatient procedure is that one new patient per working day represents about $125,000 in additional annual revenue." Maximizing the number of patients in a given day should be a crucial component of your reinvesting efforts.

 

An underlying benefit of reinvesting in your CT business is the ability to gain a "First to Market" advantage. By being the first in your area to offer a new application, your institution becomes identified with the technology and becomes a part of your brand, something that helps develop ongoing relationships and build loyalty.

 

Among other things, Sg2 concluded through their research that it is good practice to:

  • Build a budget for CT upgrades into the overall CT business plan.
  • Expect to spend between 5 - 8% of annual revenue to build the CT program - half of these funds going to refeshing CT technology.
  • Make regular upgrades part of the operating plan.
  • Choose upgrades and service enhancements that are consistent with your clinical priorities.
  • Focus on outpatient imaging opportunites and work flow enhancements.
  • Consider moving scanners into other locations and sergregating them by application.

 

To read the entire Sg2 white paper, click on the link below.




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