As the world of medical insurance continues to rollercoaster through changes, reimbursement rates are often difficult to track and even more challenging to predict. Reimbursement dollars create a large percentage of revenue for any imaging facility and being able to accurately forecast income is a key piece to a successful pro forma and business plan.
To help in this area, Block Imaging has created an imaging costs reimbursement calculator and forecasting tool using 2014 reimbursement rates (radiology only: HCPCS codes 70000 – 79445). This tool will allow you to locate studies across all modalities and then see the reimbursement rate for each study (in addition to the technical and professional component). You can then enter estimated scans per month for each study and visualize monthly revenue as well as multi-year forecasts. You can also compare rates for Medicare/Medicaid vs. rates for a private insurer.
Why is this tool important?
During the early stages of planning, it is important to account for all expenses and all anticipated revenue. Expenses are often the easiest part to uncover, as most are fixed costs (equipment purchase, construction, service, staff, etc.), but revenue largely relies on variables like referrals and reimbursement dollars. The Radiology Reimbursement Calculator is designed to help with the latter part of this challenge.
Who should use this tool?
Really: anyone involved in the business development of an imaging facility. Whether you are an experienced manager or an entrepreneur looking to step into the diagnostic imaging business for the first time, this resource is for you.
You will be able to:
- Locate hundreds of multi-modality studies, including those for MRI, CT, X-Ray, nuclear medicine, mammography, and many more
- Learn the technology and professional component for each study (Medicare/Medicaid only)
- Customize the number of studies/month for each study
- Add unlimited additional studies
- Benefit from knowing monthly revenue estimations, forecasted out to 60 months
- Print a PDF of your results
When can I start using this?
Right now! Click the banner below to go to the welcome page. Enter some quick information, then start calculating your revenue estimate!