Medical Imaging: Recession Proof?

[mcclam]

The medical imaging industry was once referred to as “recession proof”. Patients are losing insurance coverage. Many hospitals are experiencing financial difficulty, while many have been forced to close. New information technology purchases, one of the largest investments for hospitals, are commonly being put on hold. Compounding the effects of our economy, our industry continues to deal with current and impending unfavorable changes in reimbursement.

Are we no longer a “recession proof” industry? Are you experiencing a perceptible change in your patient load, how you or your group practices or even your “bottom line”? Do we need to brace ourselves for major changes as economy attempts to rebound? What strategies can we employ to weather the storm?

[lfordham]

Interesting question! I think there has been a decrease in utilization of imaging at my hospital. We have seen a recent increase in the no show rate for elective procedures. We have been very busy with trauma and emergency add ons. I don't know if the emergency add ons are because people are delaying the elective procedures.

[mcclam]

In RSNA's News (April 2009), there is an article (Medicine Not Bulletproof in Recession) which mentions that the recession is also affecting academia and the research community. Examples that were cited include changing the manner in which physicians are compensated and adopting more conservative hiring practices. Not suprisingly, the author states that more residents are doing fellowships and more fellows are choosing to stay on staff until they can find ideal private practice positions.