Imaging centers have been feeling the pinch from shrinking reimbursements, rising expenses and increased competition with hospitals. For one large California group, the answer to these woes could come from the lucrative world of pharmaceuticals.
Radiology Associates of Sacramento Medical Group Inc. has teamed up with a clinical trial imaging software company to seek business from pharmaceutical firms, Sacramento Business Journal reports.
The group, which has 1,000 employees, said the new business, called Impact CoreLab LLC, was part of its strategy to make up for losses after its exclusive imaging contract with Sutter Health, a 24-hospital system also based in the state's capital, came to an end in April last year. Another strategy is to expand its teleradiology service, especially to sites in the southwest. Dr. Richard Myers, the imaging group's president and board chairman, told the paper: "These ventures, over three or four years, are designed to replace the income loss from Sutter."
Impact CoreLab, founded in December with software firm Radiant Sage, will help with clinical trials for cancer and neurological drugs, the journal reports.