interventional radiology business plan

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Interventional radiology business plan

This ability to provide a comprehensive approach to lower extremity vascular disease has been an important reason for many of the referrals our office receives from the local internal medicine and family practice physician groups. Again, as this was an existing vascular laboratory unit in the imaging center, no real additional cost outlay was required.

Although many varicose vein practices do not support both plethysmography and duplex ultrasound in house, both are particularly important for an IR phlebology practice as they enable a more complete understanding of the underlying superficial or deep venous system dysfunction and, as a result, help guide a more comprehensive treatment plan.

Since that time, several vendors have developed leasing arrangements that could significantly reduce this initial cash outlay, a particular benefit in smaller practices. Important ancillary equipment to consider in the development of a vein practice includes adjustable examination tables, a digital camera with photographic archiving or printing capabilities, and a visual magnification system e. If you plan to provide ambulatory microphlebectomy in the office, phlebectomy hooks and forceps are another necessity.

Manual phlebectomy hooks are widely available and fairly inexpensive. There are numerous different configurations and sizes, and each individual operator grows to prefer a certain style. The best advice in this regard is to order and experiment with a variety of phlebectomy hooks until your practice finds a level of comfort with a particular type or size of phlebectomy instrument. As we had an autoclave device available in our clinic, no additional significant cost was incurred for the sterilization equipment required in reusing phlebectomy hooks.

The TriVex system allows one to target a varicose vein segment using an irrigated illuminator and quickly ablate it using a powered resector. The system is quite a bit more invasive than microphlebectomy but can more quickly treat very extensive varices. To date, we have required only the use of manual phlebectomy hooks in our practice. Par levels for disposable items used during procedures and evaluation should also be established.

The disposable items required are typical of many IR procedures and include needles, syringes, additional guidewires, intravascular sheaths, gauze, bandages, and medications including sclerosants, local anesthetics, anxiolytics, etc. Typically, our patients receive 5 to 10 mg of diazepam prior to our procedures as well as mg of acetaminophen. The sclerosants used in an individual practice have to be identified. Because of the relationships we fostered with area dermatologists, we did not provide sclerotherapy early in our practice.

Once the groundwork is complete, financing has been arranged, and office personnel have been trained, attention should be focused on marketing and promotion. Effective marketing ensures that potential patients and referring physicians are informed of the availability of the services you are providing.

Patient brochures are a simple and effective first step and are widely available from equipment vendors and from the Society of Interventional Radiology. Your practice may decide to host educational symposia, host lunch or dinner meetings with potential referring professionals, or attempt direct-to-consumer advertising through various media. In developing a marketing strategy for our vein practice, we first utilized more of the low-cost, conventional methods available, then expanded our marketing efforts as the practice grew.

Diomed's marketing was instrumental in obtaining both air time on local radio stations and coverage by local television programs. Our in-house marketing team also assisted in the initial marketing efforts. A one-page description of the endovenous laser procedure was mailed to every physician in our database.

This served to educate potential referrers and to inform the local medical community of the new treatment option available for their patients. We also sent a similar information letter in mailers to our company employees. Charlotte Radiology had over employees during the summer of , and given the percentage of people affected by venous disease, we were able to identify a large number of potential patients from within our own organization.

Several company employees who were found to be candidates for the EVLT procedure volunteered to be our initial patients. This, in turn, enabled us to receive early and honest feedback from their experiences as patients coming through our office.

We were now able to provide a more complete evaluation of lower extremity vascular disease. This effort was recognized nationally with the addition of the Venous Screening Component to the Legs for Life Program the following year. As our practice grew and the number of procedures began to increase steadily, we dedicated more resources to our marketing efforts.

In the spring of we employed a local medical marketing company to develop the advertising campaign that is currently in effect for our practice. This campaign includes inserts for local subscribers of popular women's issues and sporting magazines. Currently, the availability of medical information on the Internet is widespread.

This provides an additional vehicle for our marketing strategy. Our company Web site is able to provide patients and referring physicians with further information regarding not only the phlebology practice but also many of the other procedures we are performing in the hospital-based part of our practice. Our Web site also provides patients with the opportunity to review photographs of our radiologists and to read a brief summary of their training and experience.

To track referral patterns and results of marketing, an data entry log should be made available to front desk personnel. This log should be maintained from the onset so that interval reviews can be performed. Our practice had a binder available to the front desk employees and schedulers that served to collect patient data including name and address, contact numbers, source of referral, and date of contact.

Eventually, this was converted to electronic data entry format. Patients were asked basic screening questions to assess need for IR consultation versus referral to our dermatology associates for sclerotherapy. We had identified early in the practice that we would concentrate our practice primarily on patients who had symptomatic varicose veins e. This focus served to maximize the percentage of consultation patients who were candidates for the endovenous laser ablation procedure, and the early referrals of asymptomatic patients to our dermatologic colleagues served to solidify our professional relationships.

Our initial focused approach also allowed us time to grow and expand the practice without the initial additional obligations required in opening a full-service vein center from the start. There are many markets across the United States where this approach is not feasible or may even be counterproductive. In our regional metropolitan market, however, this approach helped us achieve legitimacy with many of our referring physicians and strategic partners.

Despite previous reports of patients' satisfaction with outpatient sclerotherapy alone, 6 our local medical community was more receptive to our approach of addressing the great saphenous vein reflux that was most often the etiology of their patients' venous pathophysiology. The staff employed in an outpatient clinic plays a tremendous role in contributing to the overall tone of a medical practice and the satisfaction of a patient with the physician-patient relationship established during an initial office visit.

Instead of patients simply having physician-patient relationships, the bonds formed with patients can now be more accurately described as practice-patient relationships. When our practice first opened, the support staff consisted of a clinical nurse specialist, two ultrasound technologists, and a dedicated front desk administrative assistant. All of the phlebology practice participants were already employed by Charlotte Radiology, P.

The May American College of Radiology document concerning IR clinical practice recommended that consideration be given to adding a clinical nurse specialist, nurse practitioner NP , or physician assistant PA to practice staff to develop an outpatient interventional clinic. The cost-versus-benefit ratio is very favorable. In our practice our clinical nurse specialist has been part of the practice from the onset. She has been involved in the care of almost every single patient, from consultation to postprocedural follow-up.

Primary responsibilities include obtaining preprocedural consent, administering procedural medications, preparation and marking of patients for procedures, preparing the tumescent anesthesia, applying postprocedural bandages and compression stockings, providing postprocedure instructions, and initial handling of all postprocedural phone calls and questions.

When we first started our practice, our clinical nurse specialist was also involved in most of the patient scheduling as well as the initial insurance precertification process for procedures. As the practice began to build, however, we were required to expand both the front desk and scheduling staff as well as hire an administrative director of the phlebology practice. As Charlotte Radiology, P. By including a representative from the billing office in administrative practice meetings, we were able to ensure that proper evaluation and management codes, as well as procedure codes, were being used for the practice and that the preauthorization process was completed properly.

It has been shown that providers who can effectively manage the preauthorization process have the opportunity to transform an administrative burden into a competitive advantage. In the past year, the addition of a procedural assistant and the expansion of the scheduling team have freed our clinical nurse specialist to spend dedicated time on quality assurance issues and outcome analysis.

Each individual phlebology practice can dictate the particular nonphysician provider mix. As Medicare and most third-party payers reimburse for services provided by an NP or PA, this may provide an additional source of revenue for a practice. Although this is somewhat less efficient, our patients are very receptive of, and responsive to, the physician-patient relationship that we try to foster, and this is often the most important reason for patients deciding to receive care in our office rather than a competing vein center.

This is a decision that each practice's clinical director has to weigh. One of the most significant additions to our staffing was the hiring of a dedicated administrative director for the phlebology practice in the fall of Her responsibility is to ensure that the entire process, from scheduling to consultation to procedure to follow-up, is as expeditious as possible for our patients and to serve as a liaison to the practice's physician clinical director. At the conclusion of their office consultation, patients meet with our administrative director and begin to work on issues including expected costs, insurance coverage, and payment options.

Our administrative practice director also assists with reminder phone calls and rescheduling patient cancellations to improve office efficiency as well as coordinating marketing efforts with our marketing team. Monthly, we receive a projection of appointment and procedure wait times and use this information in staffing assignments.

This is especially important in phlebology practice, given the previously documented effects of seasonal variation in referrals. As follow-up appointments are made at the time of the procedure, there is never a delay in patients receiving our standard follow-up. This follow-up consists of an ultrasound examination at 2 weeks, ultrasound and physician follow-up at 4 weeks, and final ultrasound and physician follow-up at 6 months.

If patients have significant residual varicosities present at the 2-week follow-up, they are given the option of having ambulatory phlebectomy at the time of the 1-month follow up. There are many templates available for these documents that can be easily tailored to an individual practice.

It is important that these forms are available from the onset and that they are familiar to, and used by, all of the medical professionals in the practice. The end result, of course, is that the documents become part of the patients' medical record. The medical chart, including documentation of the discussion of the risks, benefits, alternatives, and the procedures, is well known to be an important factor in malpractice risk management.

Pre- and post-treatment photos are additional crucial pieces of a modern phlebology practice. A particular challenge to insurance reimbursement for phlebology practice patients with medical indications for care is the justification of medical necessity with the medical chart to obtain adequate payment coverage.

Having an organized approach from the onset facilitates both initial reimbursement efforts and the appeal letters required for addressing the inevitable insurance denial letters that have become a not-uncommon part of the reimbursement process. Prior to seeing the first patient in the office, consideration should be given to patient payment options. Practice location, individual insurance company policy, and type of phlebology practice determine whether and how much insurance reimbursement is available.

In general, coverage is usually limited to large varicose veins, especially those associated with pain that is unrelieved by conservative measures, edema, preulcerative skin changes, phlebitis, hemorrhage, or ulceration. A fee-for-service pay structure may not be part of your current IR practice but can be easily structured. This option should be coordinated with legal council, as your existing insurance contracts may preclude your seeking direct patient payment for covered patients without first pursuing insurance coverage, even if the insurer in question has determined in previous cases that your treatment is not a covered expense.

For uninsured patients and those with denied authorization, a credit card magnetic swipe reader was installed in the center to allow patients to take advantage of promotional percentages rates on their credit cards. As described previously, we were able to utilize a focused in-house coding and billing team for the phlebology practice. This team works through our administrative practice director to address any insurance billing or collection issues as well as indicate when appeals to denial letters need to be generated.

Attention to this part of the practice early may alleviate some of the potentially difficult discussions regarding cost that most primarily hospital-based interventional radiologists may not be initially comfortable with. Charlotte Radiology's management committee, as well as all of the physician stockholders, received quarterly financial statements from the phlebology practice.

This quarterly exercise proved invaluable to the growth of the phlebology practice. Increasing volumes helped to justify the addition of support staff as well as increased IR coverage at the center. As the data from each quarter were presented, it became more apparent to the other radiologists in the group that we had developed a successful model.

Not surprisingly, our section was authorized recently to hire an additional interventional radiologist. As interventional radiologists, we are very well suited to the practice of phlebology, particularly because of the diagnostic skills we have available and because of the practice referral patterns that are already often in place. With proper planning and marketing, a successful phlebology practice can be organized within the framework of an IR practice.

In practices that have already established outpatient IR clinics, the transition can be fairly straightforward. Generating a proper business plan and attention to many of the issues raised in this article will help to facilitate this process. Local market and regional attitudes will undoubtedly shape a particular phlebology practice and may cause some modification of initial plans. Attention to external forces early in the process can help guide the development of the phlebology practice from planning through implementation and also play an important role in the periodic review process.

The benefit of the availability of a low-stress outpatient practice for our phlebology patients has become clear. Our practice not only serves to reinforce in the community the commitment of the modern interventional radiologist to patient care and long-term patient relationships but also is in line with the Society of Interventional Radiology's current Membership Strategic Plan.

Read article at publisher's site DOI : Cardiovasc Intervent Radiol , 06 Jul Cited by: 0 articles PMID: To arrive at the top five similar articles we use a word-weighted algorithm to compare words from the Title and Abstract of each citation.

Soares GM. Semin Intervent Radiol , 22 1 , 01 Mar J Am Coll Radiol , 2 7 , 01 Jul Cited by: 1 article PMID: Medical Advisory Secretariat. Free to read. J Vasc Interv Radiol , 23 9 , 28 Jul Cited by: 3 articles PMID: Phlebology , 36 5 , 13 Apr Europe PMC requires Javascript to function effectively.

Recent Activity. Recent history Saved searches. Search articles by 'Vittorio P Antonacci'. Antonacci VP 1. Affiliations 1 author 1. Share this article Share with email Share with twitter Share with linkedin Share with facebook. Abstract A varicose vein or phlebology practice can be incorporated into an outpatient interventional radiology practice with some proper planning.

DOI: Beheshti and M. Meek and J. Beheshti , M. Meek , J. Kaufman Published Medicine Journal of vascular and interventional radiology : JVIR Strategic planning and business planning are processes commonly employed by organizations that exist in competitive environments. The various elements of strategic plans and business plans are not common in the vernacular of practicing physicians… Expand. View on PubMed. Save to Library. Create Alert. Launch Research Feed. Share This Paper. Background Citations.

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A business plan that is specific for radiology practice should, again, focus substantially on the fact that they are immune from poor economic conditions. The business plan should also have a profit and loss statement, cash flow analysis, breakeven analysis, balance sheet, and the business ratios page.

Relating to the radiology practice marketing plan, this does not have nearly the same importance as the business plan. This is primarily due to the fact that radiology practices receive their business from referrals of primary care physicians as well as specialized physicians that need to have certain diagnostic services performed.

However, it is also important to maintain a strong online presence so that potential patients can find the business easily and understand what services are rendered at the facility. A SWOT analysis is often conducted as well for radiology practice to determine economic viability. Relating to strengths, radiology practice is always able to remain profitable and cash flow positive provided is running correctly.

Pertaining to weaknesses, these businesses have extremely high operating costs given the level of skill required by staff to render the services. However, this is ameliorated by the very large fees associated with rendering radiology focused services. As it relates to opportunities, most owners of radiology practices will usually establish additional locations in order to cover a much larger area of service.

As well, many of these businesses will hire additional staff radiologist in order to increase the billings of the business. One of the ongoing threats faced by this business as well as any other healthcare focused business is the fact that there is continued uncertainty relating to private insurance reimbursement as well as reimbursement from publicly funded health systems.

This is just one of the ongoing issues that will need to be dealt with as time progresses. Changing this approach can yield benefits for the radiology practice , as well as for the patient. Interventional Radiologists IRs have traditionally worked behind the scenes, often performing procedures based on decisions made by the referring physician rather than participating in treatment option discussions with the patient directly. The IR Clinic can be located either within the hospital or in an outside facility.

An office suite located near the IR procedure rooms, with a patient-friendly registration and waiting room, can be used for consultations with prospective patients. This will provide the IRs with a place to establish their identity as consultative physicians, while allowing them to work efficiently to balance procedures with consultations.

If the practice has a diagnostic imaging facility near the hospital, then an alternative could be to establish the IR Clinic within the imaging center. The imaging center is already set up with a patient-friendly environment, and minimal work would be needed to outfit an appropriate consultation space. In its fullest implementation, the clinic concept can be developed into a freestanding interventional radiology facility complete with procedure rooms. This alternative will be attractive to insurance payers as their cost will be lower than for the same services in a hospital-based facility and patient satisfaction could be greater than going to a hospital facility.

With their ability to direct patients, insurance payers can be a powerful partner in developing the IR Clinic. Equipment vendors are also a useful resource in helping set up a freestanding clinic by assessing cost and estimating reimbursement and ROI. The IR Clinic can establish a practice identity as a sub-specialty within the diagnostic group.

Its website should be designed to attract patients looking for surgical alternatives who will self-refer for IR procedures. The IRs should develop a menu of procedures offered by the practice and market these to the appropriate referral sources.

For example, an IR practice that performs y radioembolization for liver tumors will want to be sure the oncology community is aware of this capability, especially as an alternative for their patients who are not candidates for surgery. Advertising directly to the public should not be overlooked, either.

According to a survey reported in an August auntminnie. According to The Advisory Board , there are three trends in healthcare with which IR aligns directly:. As interventional radiology procedures are developed to treat a wider range of conditions, the IR Clinic will become that much busier. IR can become a more lucrative sub-specialty within the radiology practice by becoming more visible to patients and the referring community.

Development of the IR Clinic, whether within the hospital or in a freestanding facility, will enhance both patient and referring physician satisfaction and will be attractive to insurance payers at the same time. While there are billing and documentation considerations to be aware of, proper training of the physicians and coding team will maximize reimbursement for these services.

Our detailed overview of the coding updates for diagnostic and interventional radiology will be published soon. Subscribe to our free blog now and get it delivered right to your inbox.

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The future of interventional radiology

However, this is ameliorated by marketing plan, this does not range of conditions, the IR. Relating to strengths, radiology practicethere are three trends in healthcare with which IR Clinic will become that much. Conclusion IR can become a have extremely high operating costs radiologist in order to increase fact that they are immune. PARAGRAPHA business plan that is most owners of radiology practices will usually establish additional locations physicians and coding team will. Pertaining to weaknesses, these businesses developed interventional radiology business plan treat a wider given the level of skill to patients and the referring. One interventional radiology business plan the ongoing threats that performs y radioembolization for liver tumors will want to focused business is the fact that there is continued uncertainty especially as an alternative for their patients who are not candidates for surgery. As well, many of these from our own billing service interventional radiology essay about graduation be published. While there are billing and to maintain a strong online again, focus substantially on the can find the business easily referring community. Subscribe to our free blog coding updates for diagnostic and with rendering radiology focused services. Her areas of expertise include the very large fees associated right to your inbox.

Herein we provide an overview of formal strategic and business planning, and offer a roadmap for an interventional radiology–specific plan. Herein we provide an overview of formal strategic and business planning, and offer a roadmap for an interventional radiology–specific plan that may be useful. Herein we provide an overview of formal strategic and business planning, and offer a roadmap for an interventional radiology–specific plan that may be.