REGULAR CONTENT
Final ID
530
Type
Original Scientific Research-Oral or Pos
Authors
Z Hartley1, M Guimaraes2
Institutions
1Oakland University William Beaumont School of Medicine, Royal Oak, MI, 2Medical University of South Carolina, Charleston, SC
Purpose
As Vascular Interventional Radiology (VIR) has expanded and become more clinical, many models have been developed to predict and evaluate the profitability of the practice in the outpatient setting. To date, much of the focus has been put on predicting initial revenues and costs, while downstream revenues have been only theorized. We want to determine wholesale value from the outpatient VIR practice and if a walk-in clinic would be best if open in or off main hospital campus.
Materials & Methods
Patients were sorted based on where initial contact with VIR was, and charges and payments were captured based on initial contact location as well as insurance carrier. Additionally, new patients during the last fiscal year were identified and sorted by whether they were soon in the in-hospital clinic, or the off campus clinic. These patients were followed and downstream VIR revenues were captured in the form of both imaging and procedures.
Results
From 4/1/15 to 3/31/16 groups of 90 patients from off campus clinics and 225 patients from in-hospital clinics were compared. Revenues were gathered and averaged within groups and compared. Average radiology professional revenue was $1126 on average for patients from off campus clinics, and $1717 for in-hospital clinics (p<0.001). These values did not include procedural income at this time. These values are representative of where the patients made initial contact with the VIR department, and not where the revenue was specifically generated.
Conclusions
There has been much debate as to the overall value of VIR clinics, and how they can add value to both the department and the hospital as a whole. Furthermore if they do add value, how can that value be maximized. Our early results show that more value is generated when patients establish care in in-hospital clinics. This may be from a multitude of factors including more consistent follow up, and quicker turnaround times for imaging and procedures. More research is needed to add procedural value and to further evaluate factors that make in-hospital clinics more value producing than off campus clinics. As VIR departments continue to grow and expand, creating a value producing clinic will be a crucial component.
Final ID
530
Type
Original Scientific Research-Oral or Pos
Authors
Z Hartley1, M Guimaraes2
Institutions
1Oakland University William Beaumont School of Medicine, Royal Oak, MI, 2Medical University of South Carolina, Charleston, SC
Purpose
As Vascular Interventional Radiology (VIR) has expanded and become more clinical, many models have been developed to predict and evaluate the profitability of the practice in the outpatient setting. To date, much of the focus has been put on predicting initial revenues and costs, while downstream revenues have been only theorized. We want to determine wholesale value from the outpatient VIR practice and if a walk-in clinic would be best if open in or off main hospital campus.
Materials & Methods
Patients were sorted based on where initial contact with VIR was, and charges and payments were captured based on initial contact location as well as insurance carrier. Additionally, new patients during the last fiscal year were identified and sorted by whether they were soon in the in-hospital clinic, or the off campus clinic. These patients were followed and downstream VIR revenues were captured in the form of both imaging and procedures.
Results
From 4/1/15 to 3/31/16 groups of 90 patients from off campus clinics and 225 patients from in-hospital clinics were compared. Revenues were gathered and averaged within groups and compared. Average radiology professional revenue was $1126 on average for patients from off campus clinics, and $1717 for in-hospital clinics (p<0.001). These values did not include procedural income at this time. These values are representative of where the patients made initial contact with the VIR department, and not where the revenue was specifically generated.
Conclusions
There has been much debate as to the overall value of VIR clinics, and how they can add value to both the department and the hospital as a whole. Furthermore if they do add value, how can that value be maximized. Our early results show that more value is generated when patients establish care in in-hospital clinics. This may be from a multitude of factors including more consistent follow up, and quicker turnaround times for imaging and procedures. More research is needed to add procedural value and to further evaluate factors that make in-hospital clinics more value producing than off campus clinics. As VIR departments continue to grow and expand, creating a value producing clinic will be a crucial component.