MedInformatix Positioned for Growth in Expanding Medical Imaging Market
RIS Innovator Partners with Record Number of Florida Providers
Capitalizing on a robust medical imaging market in the United States, RIS innovator MedInformatix has expanded its geographic footprint during the first eight months of 2023, establishing new customer relationships with leading outpatient radiology practices across the country. The company significantly increased its customer base in Florida, one of the most competitive and fastest growing radiology markets in the U.S.
Analysts at research firm Fortune Business Insights predict the U.S. diagnostic imaging services market will grow from $130 billion in 2023 to $206 billion by 2030, at a compounded annual growth rate of almost seven percent. They point to the increased prevalence of chronic diseases such as cardiovascular diseases and cancer, as well as a rise in government regulations supporting reimbursement policies, as driving demand for medical imaging procedures. The RIS portion of the industry is also on the rise. Business Market Insights predicts the RIS market to expand to US$ 605.60 million over the next four years.
As demand for radiology services rises, so does the number of imaging centers offering them.
Data from healthcare intelligence firm Definitive Healthcare shows there are more than 18,800 imaging centers in the United States today. From a regional perspective, the Southeast portion of the country has the most centers, totaling more than 4,900. The US Midwest ranks second with just over 4,100 providers, followed by the Northeast with 3,600.
The same data shows the State of Florida accounts for approximately 35 percent of all imaging centers in the Southeast, with more than 1,700 locations scattered across the state. Only the State of Texas is home to more imaging centers.
Pat McGonigle, CEO of MedInformatix, says his company is ideally positioned as a preferred partner in radiology’s growth. Founded over 30 years ago as a small software service provider on the West Coast, MedInformatix has today built an impressive nationwide network of radiology customers, offering comprehensive RIS, revenue cycle management, medical coding and provider-patient communication solutions. The MedInformatix technology platform is at work at outpatient radiology practices in more than 40 states.
Nowhere is the MedInformatix brand more prevalent than the aforementioned Florida. MedInformatix serves as the official RIS, revenue cycle or medical coding solutions provider at more than 43 outpatient imaging centers across the state, serving practices from the panhandle to South Florida. “Florida is clearly a leading market for radiology, and we are thrilled to partner with some of the most innovative practices in the state,” adds McGonigle.
McGonigle says as long as the specialty continues to experience growth, so too, will the technology that supports it. In addition to medical coding technologies that help radiology providers get reimbursed more quickly, MedInformatix recently launched an expansive mobile communication platform aimed at helping providers strengthen the relationship with their patients, while simultaneously increasing practice productivity and profitability. The apps streamline the appointment scheduling, registration, check-in, authorization and billing processes, and serve as an effective two-way communication tool to relay important pre-appointment and other information between provider and patient in the most convenient and secure way possible.
“Our mobile communication platform is an important step in our commitment to bring new technologies to the radiology marketplace,” said McGonigle. “Wherever the region, MedInformatix helps providers be more efficient and offer patients a better healthcare experience in today’s rapidly changing and competitive landscape. As the radiology and RIS markets continue to grow, we look forward to continuing to innovate and grow right along with them.”
