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FRS Membership
Dues |
Please contact the American College of Radiology Membership Services at (800) 347-7748 to pay your 2024 Florida Radiological Society membership dues. |
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| Meet Your 2023 - 2024 FRS Executive Committee |
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President
Laura Vallow, MD |
President Elect
Juan Batlle, MD, FACR |
Treasurer
Andrew Bowman, MD, PhD |
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Secretary
Edem Chen, MD |
Past President
Chintan Desai, MD, FACR |
Radiation Oncology, Chair
Jennifer Peterson, MD |
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Letter from the Editor |
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Radiology Practice Evolution: Navigating the Business Life Cycle
The life cycle of a business generally consists of several stages: startup, growth, maturity, and decline or renewal. Each stage brings its own set of challenges and opportunities. Let's explore how this life cycle applies to different types of radiology practices and radiologists: |
1. Startup Phase:
Academic Radiology Practice: In this phase, academic radiology practices are typically established within universities or teaching hospitals. They focus on building expertise, recruiting faculty, and developing research programs.
In the startup phase, academic radiology practices often attract radiologists who are early in their careers and have a strong interest in research and academia. These radiologists may be fellows or junior faculty members focused on building their academic portfolios.
Private Radiology Practice: Private radiology practices in their startup phase often involve a small group of radiologists coming together to establish their practice. They focus on acquiring necessary equipment, establishing relationships with referring physicians, and building their patient base.
Private practices in their startup phase often consist of radiologists who are entrepreneurial and looking to establish their own practice. These radiologists may have recently completed their residency or fellowship and are eager to build their patient base and reputation.
Private Equity Radiology Practice: Private equity-backed radiology practices often start with a consolidation of existing practices or the acquisition of a single practice. The focus is on scaling the business rapidly through further acquisitions and investments in infrastructure and technology.
Private equity-backed radiology practices in their startup phase may attract radiologists who are interested in joining a rapidly growing organization. These radiologists may be drawn to the opportunity for career advancement, access to resources, and potential financial incentives.
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2. Growth Phase:
Academic Radiology Practice: During this phase, academic practices expand their research programs, attract more faculty and students, and establish themselves as leaders in specific areas of radiology research and education.
As academic practices grow, they attract radiologists who are established in their fields and have a track record of research and teaching. These radiologists may be recruited from other academic institutions or research centers to further enhance the practice's expertise.
Private Radiology Practice: Private practices experience growth by expanding their service offerings, adding more radiologists, and potentially opening new locations. They also focus on improving efficiency and quality of care to attract more patients and referrals.
In the growth phase, private practices attract radiologists who are looking for stable employment and opportunities for professional development. These radiologists may have a mix of experience levels, including mid-career radiologists seeking leadership roles and younger radiologists looking to build their careers.
Private Equity Radiology Practice: Private equity-backed practices aggressively expand through acquisitions of other practices and investment in technology and infrastructure. They aim to achieve economies of scale and increase market share rapidly.
Private equity-backed practices in their growth phase may recruit radiologists who are interested in being part of a dynamic and fast-growing organization. These radiologists may be attracted by the potential for career advancement, access to resources, and competitive compensation packages.
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3. Maturity Phase:
Academic Radiology Practice: At this stage, academic practices have established themselves as reputable institutions with a strong focus on research, education, and clinical care. They may continue to innovate and adapt to changes in the field.
In the maturity phase, academic practices retain experienced radiologists who are leaders in their fields and have a strong commitment to the institution's mission. These radiologists may hold tenured positions and play key roles in research, teaching, and clinical care.
Private Radiology Practice: Mature private practices have a stable patient base, established referral networks, and efficient operations. They focus on maintaining high-quality patient care, retaining staff, and possibly exploring partnerships or strategic alliances.
Mature private practices retain a mix of experienced radiologists who have been with the practice for many years and newer radiologists who have joined more recently. These radiologists may have established themselves as leaders in specific subspecialties and contribute to the practice's reputation for excellence.
Private Equity Radiology Practice: Mature private equity-backed practices have achieved significant growth and market presence. They may focus on optimizing operations, integrating acquired practices, and maximizing profitability.
Private equity-backed practices in their maturity phase retain radiologists who are aligned with the organization's goals and values. These radiologists may have opportunities for leadership positions and participation in strategic decision-making processes.
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4. Decline or Renewal Phase:
Academic Radiology Practice: Academic practices may face challenges such as funding cuts, declining enrollment, or changes in research priorities. They may need to adapt their strategies or seek new sources of funding to remain competitive.
In the decline or renewal phase, academic practices may experience turnover among radiologists as they adapt to changes in funding or research priorities. Some radiologists may leave for other academic institutions or private practices, while others may stay and focus on maintaining the practice's core mission.
Private Radiology Practice: Decline in a private practice could be due to changes in the local healthcare landscape, increased competition, or economic factors. Practices may need to restructure, merge with other practices, or explore new markets to survive.
Private practices facing decline may experience attrition among radiologists as the practice reevaluates its strategies and priorities. Radiologists who are not aligned with the practice's direction may seek opportunities elsewhere, while others may stay and contribute to the practice's efforts to reinvent itself.
Private Equity Radiology Practice: Private equity-backed practices may face challenges if their growth strategies are not sustainable or if there are changes in regulatory or reimbursement environments. They may need to reassess their business model, divest underperforming assets, or pursue new opportunities for growth.
Private equity-backed practices in decline may undergo restructuring or consolidation efforts that could impact the composition of the radiology workforce. Radiologists who are not essential to the practice's new direction may be transitioned out, while others may have opportunities to contribute to the practice's renewal efforts.
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Overall, the life cycle of a radiology practice, whether academic, private, or private equity-backed, involves similar stages but with variations in radiologist, strategies and focus areas based on their respective goals and environments.
ChatGPT series#9 |
Edem Chen, MD
Secretary, FRS |
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FRS President's Message |
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Greetings Colleagues,
The FRS had an amazing turn out for the 2024 ACR Annual Meeting in April. Our members enjoyed connecting and collaborating while serving multiple important committee, councilor, and volunteer roles. For those unable to attend, I wanted to share highlights from the meeting.
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The FRS received a 2023 Chapter Recognition Award for Excellence in Government Relations recognizing our work, success, and innovation.
We hosted a lively tri-society happy hour with the Michigan and Ohio state chapters.
The FRS Society Dinner was a spectacular event with members, spouses, students, residents, and NY state chapter guests in attendance.
Congratulations to Dr. Nick Hatton for receiving the ACR Foundation Global Humanitarian Award. This award recognizes outstanding individuals, organizations and programs working to improve access to quality radiological services in low and middle-income countries.
Congratulations to Dr. Katharine Lampen-Sachar of University of Miami, for being elected to the College Nominating Committee. For all 2024 Election Results follow this link, Election Results | American College of Radiology (acr.org) |
| Congratulations to the FRS members awarded ACR Fellowship in 2024 |
Juan C. Batlle, MD
Timothy Brant, MD
Herman Flink, MD |
Hillary Garner, MD
Darel Heitkamp, MD |
Roy Siragusa, MD
Daniel Wessell, MD |
We had an extremely active Capitol Hill Day with18 participants attending a total of thirteen meetings with Members of Congress. Many thanks to all for your enthusiasm and engagement.
For members who want to become more involved in the ACR Council, there are opportunities to volunteer for credentials, reference, or tellers committees. Volunteer Committees | American College of Radiology (acr.org)
Please plan now to attend the FRS & FRBMA 2024 Annual Meeting at the Ritz-Carlton Orlando, Grande Lakes, 7/19-7/21/2024. Register here:
2024 FRS Annual Meeting
2024 FRBMA Annual Meeting
Thank you for all you do to contribute to the success of the Florida Radiological Society, Florida Radiology Business Management Association and all radiology related specialties and practices.
Best Regards, |
Laura Vallow, MD
President, Florida Radiological Society
Vallow.laura@mayo.edu |
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FRBMA President's Message |
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What Keeps You Up at Night?
Although our industry has always struggled with the expectations of balancing rising costs with decreasing revenue, the current economy is certainly alarming with its skyrocketing labor and supply costs coupled with seemingly non-responsive government action to provide compensatory relief for these increases. This double whammy is putting pressure on radiology practices across the country, leading to concerns about patient care and the long-term sustainability of the field. |
Shrinking Workforce, Strained Resources:
Physician Shortage: An aging radiology workforce coupled with a small pool of incoming talent is creating a significant physician shortage. Changes in lifestyle demands and the increasing availability of customized pay per volume models are leaving large gaps in our ability to bring in radiologists for on premise work without paying a premium.
Burnout on the Rise: The physician shortage translates to a heavier workload for remaining radiologists, leading to burnout, and potentially impacting the quality of care.
Technologist Gap: Similar trends are affecting radiology technologists, who are crucial for conducting imaging procedures. Centers are having to limit appointment times due to the lack of availability of technologists. The resulting escalations in labor costs leave many smaller practices unable to compete with large health systems that are consistently paying above market rate.
Supply and Software Cost Escalations: Software platforms that were historically purchased and capitalized over time are now being replaced with subscription-based models that continue to rise in pricing each contract term. In addition, the supplies and contrast costs associated with our imaging scans have seen double digit price increase for the last few years with no signs of slowing.
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Reimbursement Malalignment:
Decreasing Rates: Reimbursement rates for radiology services, particularly from Medicare, have seen decreases year over year. BCBS recently announced to its Florida based practices that it will be applying a reduction in the reimbursement for the professional component for patients receiving multiple procedures in the same day. FRS and FRBMA, along with ACR have responded to this notice clearly outlining why this reduction holds no merit in its rationale and will further impact the quality of care available to its patients. The reductions are effective this month and we have seen no response to date from BCBS. When adjusted for inflation, radiology has seen a 26% reduction from 2001 through 2023, while insurance companies themselves publish record earnings.
Better Technology/Higher Complexity: The increasing number of images per scan and the addition of post processing algorithms and series have dramatically improved the quality of scans but often increase the interpretation time. While it can improve diagnoses, it also adds to the workload without a corresponding increase in revenue for these procedures.
Looking for Solutions: Radiology practices are looking for innovative ways to navigate these challenges. Some potential solutions include:
Workflow Optimization: Utilizing technology to streamline processes and improve efficiency can help radiologists handle higher workloads. In addition, the introduction of virtual workstations for technologists to remotely operate scanners is rapidly becoming an attractive option to help alleviate technologist shortages and improve coverage.
Patient involvement: The evolution of patient centered platforms allowing self-scheduling, registration, payments, access to medical records and reminder platforms could significantly relieve the staffing costs associated with performing these tasks.
Telehealth Integration: Telehealth can allow radiologists to interpret scans remotely, potentially expanding access to care in underserved areas. It also offers an attractive work environment to radiologists who are looking for home-flexible schedules.
Collaboration with AI: While not a replacement for human expertise, artificial intelligence can assist radiologists by simplifying or completely automating some tasks and providing quality review and follow-up tracking on results.
Advocacy for Fair Reimbursement: Supporting the radiology community by actively lobbying for changes to the reimbursement system to ensure fair compensation for services rendered is paramount.
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| The future of radiology hinges on finding ways to address these critical issues. By implementing innovative solutions and advocating for fair compensation, radiology practices can ensure continued high-quality patient care and a sustainable future for our industry. |
Lisa Adams, CEO, MBA
President, FRBMA |
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Legislative Update |
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As I write this Ebrief, the Governor still has not received the budget; but, has started traveling around the state holding press conferences on items in the budget he is supporting. He was recently in Jupiter announcing his support for the money in the budget for the Els Center for Excellence for Autism.
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Very sad news rocked the legislative community when it was announced that Senate President Kathleen Passidomo’s beloved husband of 45 years was injured and passed away from a fall he took while they hiked Bryce Canyon National Park. The Celebration of Life in Naples was held on April 26th and over a thousand people attended. The same amount of folks also attended the funeral the following day. John was a beloved land use attorney who played a major part in shaping Naples into the beautiful community you see today. Needless to say, this tragedy has had a profound effect on the Senate President and all her staff. There has been conjecture that this is why the budget has not been released to the Governor. It is anticipated to happen soon.
Campaign season is heating up and sadly this was Leader Mike Grant’s last session. He will be missed terribly as he has always been a staunch supporter of the radiological community. On a good news front, his daughter, Vanessa Oliver, will be running for an open seat that runs from Ft. Myers to Punta Gorda. I am looking forward to working with her.
Please reach out to me if you have any campaign questions.
Please stay well, |
Alison Dudley, FRS Lobbyist
AlisonDudley@dudleyandassociates.com |
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2024 Annual Meeting of the
FRS & FRBMA |
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| Please join the Florida Radiological Society and the Florida Radiology Business Management Association for the 2024 Annual Meeting at the Ritz-Carlton Orlando Grande Lakes, July 19-21, 2024. The meeting will focus on “Forging Ahead into the Brave New World of Radiology” and will feature lectures by faculty who are leaders in the practice of radiology. We look forward to seeing you in July. |
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Call for Volunteer FRS/FMA Delegates |
The FRS is seeking volunteers to be an FMA delegate. These openings are on a first come, first serve basis. If you are an FMA and FRS member and agree to be an FMA delegate to represent the FRS, please contact Lorraine Roger at lroger@edusymp.com by May15th.
As an FMA/FRS Delegate you agree to attend the House of Delegates meeting to represent the interests of the FRS with other FMA/FRS delegates. Below is the FMA official description:
The FMA House of Delegates (House) is the legislative and business body of the FMA. Its members are the officers of the FMA, the elected members of the Board of Governors, and the delegates officially elected by the component societies, specialty societies, Specialty Society Section, Young Physicians Section, Medical Student Section, Resident & Fellow Section and the FMA Alliance. The House meets annually at a time and location determined by the FMA Board of Governors. It is the responsibility of the Speaker of the House to prepare the agenda and assure consideration and completion of its business.
The business of the formal sessions of House is established by a blend of tradition and requirements of the Association’s charter and bylaws, and includes:
- Setting policy for the FMA by acting on recommendations from the Board of Governors and resolutions presented by component county medical societies, recognized specialty medical societies, special sections and delegates.
- Hearing addresses and reports from the Treasurer, Speaker, and outgoing and incoming Presidents.
- Presenting awards recognizing distinguished work by members of the FMA and others whom the FMA decides to honor.
- Electing Officers, Board members and AMA Delegates.
The 2024 FMA Annual Meeting is scheduled for August 1-4 at the Hyatt Grand Cypress, Orlando.
Register for the meeting and hotel at: https://www.flmedical.org/florida/AM_HOTEL |
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Martin Northup Resident Leadership Award |
H. Martin Northup Resident Leadership Award - A scholarship opportunity for Florida Diagnostic Radiology, Radiation Oncology and Medical Physicist 2nd year Residents or graduate students.
Martin Northup was very committed to radiology resident education and advancement. To eternally honor and remember him, the board of the FRS Foundation has established a special award bearing his name, the “H Martin Northup Resident Leadership Award.” During the FRS annual meeting, a $1,000 award will be given to a 2nd year Florida radiology resident who will be a 3rd year at the time of the fellowship. During the FRS Annual Meeting, the resident will have an officer mentor and will attend all functions including the board meeting. The goal is to develop future leaders in Radiology and develop promising residents to assume greater roles in the society, such as President of the Resident and Fellow’s Section. The award recipient will be chosen for the 2024 Annual Meeting in Orlando, Florida, July 19-21, 2024 by the Scholarships and Grants committee based on a competitive application process.
Please check with your Program Director to be considered for this opportunity and to complete the application. Return your completed application to lroger@edusymp.com before end of business on May 15, 2024 in order to be considered for this award.
Thank you, |
| Jeffrey Stone, M.D., FACR |
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FACR Application |
Although there are multiple pathways to ACR Fellowship, by providing opportunities for leadership and involvement, chapters give members an opportunity for recognition as an ACR Fellow. This designation is attained by only an estimated 10 percent of radiologists that belong to the ACR and represents a significant career accomplishment. Chapters also serve as a vital link for recommendation of candidates for ACR Fellowship to the ACR Committee on Fellowship.
If you think you meet these criteria and wish to apply to become an ACR fellow with Florida chapter nomination please contact the FRS at lroger@edusymp.com.
Years in training do not count as member years.
If you are applying for Fellowship, the Chapter Firm Deadline is May 31st. |
Joseph G. Cernigliaro, MD, FACR
Alan H. Porter, MD, FACR
Chairs, Fellowship Committee |
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Attend a sample of the Learning to Lead Bootcamp
at the 2024 FRS Chapter Meeting. Check out the spring RLI Learning to
Lead Bootcamp at www.acr.org/LearningToLead for additional training
and tools to address early leadership challenges. |
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Job Posting Opportunities |
Florida Radiological Society is pleased to introduce the opportunity for interested parties to advertise for potential jobs in our monthly FRS Ebrief bulletin.
Advertisement pricing is as follows:
Ebrief Job Posting pricing:
- 3 months ($100 monthly)
- 6 months ($90 monthly)
- 12 months ($80 monthly)
Please contact Lorraine Roger, our Society Administrator for further information on how to advertise in our monthly publication.
Phone: (813) 806-1070
Fax: (813) 806-1071
Email: lroger@flrad.org
We feel that this will provide a valuable service to both our members and our Florida community of Radiology. |
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Become A PAC Member Today |
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Attention FRBMA Members! Please support the cause. We encourage you to be PAC members and supporters; you do not have to belong to the FRS. Donations can be made online through our PAC website www.FLRADPAC.org. Thank you for your donation.
It is critical that we support both our Florida PAC and RADPAC in order to bolster our voice in Tallahassee and Washington, respectively. Please join FRS lobbyist Alison Dudley in her special appeal for all Florida radiologists to become Florida PAC members. If you would like to help FRS defend radiology against untoward legislation and introduce bills that have a positive impact on our practices, we need your financial support to re-elect our friends in the state House and Senate. The FRS can also show you simplified ways on how to sign up your radiology group. Contact Lorraine Roger or contact Alison Dudley for more information. |
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Telephone (813) 806-1070
Fax (813) 806-1071
5620 W. Sligh Avenue
Tampa, Florida 33634 |
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| The E-Brief is an exclusive member benefit of Florida Radiological Society, delivering monthly member, chapter and industry news. Please do not reply to this automatic e-mail. For comments or questions about the E-Brief, please contact lroger@flrad.org. |
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