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News You Need to Know Today
Best of May: Radiologist among highest paying jobs | Envision bankruptcy | DOJ targets rad | Siemens-CommonSpirit deal
Friday, June 2, 2023
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The Month in Review

Editor's Note:

Industry watchers had been anticipating a potential chapter 11 filing from Envision Healthcare after months of financial challenges. The news finally dropped in mid-May, with the Nashville-based multispecialty group seeking bankruptcy protection to wipe out billions in debts. Time will tell whether its story is a “canary in the coal mine” for further turmoil in the physician services space, or just a one-off cautionary tale. Leaders have said they hope to emerge from the process positioned for growth. But analysts are concerned the company’s operating performance will continue to deteriorate in the coming months. Thanks for following this story with Radiology Business and enjoy your weekend. —Marty Stempniak, Editor

Editor's Note:

Industry watchers had been anticipating a potential chapter 11 filing from Envision Healthcare after months of financial challenges. The news finally dropped in mid-May, with the Nashville-based multispecialty group seeking bankruptcy protection to wipe out billions in debts. Time will tell whether its story is a “canary in the coal mine” for further turmoil in the physician services space, or just a one-off cautionary tale. Leaders have said they hope to emerge from the process positioned for growth. But analysts are concerned the company’s operating performance will continue to deteriorate in the coming months. Thanks for following this story with Radiology Business and enjoy your weekend. —Marty Stempniak, Editor

Radiologist among the 6 highest-paying jobs in America

The specialty’s $329,080 average salary placed it behind four other medical specialties, along with “athletes and sports competitors," according to the Department of Labor.

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Medicare money payment physician. The CardioVascular Coalition and Society for Cardiovascular Angiography and Interventions have both issued new statements highlighting their issues with the 2024 MPFS proposed rule. 
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Radiologist among the 6 highest-paying jobs in America

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Medicare money payment physician. The CardioVascular Coalition and Society for Cardiovascular Angiography and Interventions have both issued new statements highlighting their issues with the 2024 MPFS proposed rule. 
The specialty’s $329,080 average salary placed it behind four other medical specialties, along with “athletes and sports competitors," according to the Department of Labor.
READ MORE >

Private equity-backed radiology provider Envision Healthcare to file for bankruptcy: Report

The move is expected to wipe out the entire investment of KKR, which first took the publicly traded physician group private in a 2018 $5.5B buyout. 

READ MORE >
Money bankruptcy debt liquidation
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Private equity-backed radiology provider Envision Healthcare to file for bankruptcy: Report

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Money bankruptcy debt liquidation
The move is expected to wipe out the entire investment of KKR, which first took the publicly traded physician group private in a 2018 $5.5B buyout. 
READ MORE >

Radiology provider Envision Healthcare scores $91M judgment against UnitedHealthcare

The nation's largest insurer reportedly breached its contract with the PE-backed multispecialty group by “unilaterally reducing reimbursement rates.” 

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Radiology provider Envision Healthcare scores $91M judgment against UnitedHealthcare

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The nation's largest insurer reportedly breached its contract with the PE-backed multispecialty group by “unilaterally reducing reimbursement rates.” 
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Justice Department accuses radiologist of amassing $6.5M in improper Medicare payments

James McGuckin, MD, allegedly submitted more than 500 false claims for unnecessary vascular procedures between 2016 to 2019, the DOJ said.

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Medicare money payment
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Justice Department accuses radiologist of amassing $6.5M in improper Medicare payments

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Medicare money payment
James McGuckin, MD, allegedly submitted more than 500 false claims for unnecessary vascular procedures between 2016 to 2019, the DOJ said.
READ MORE >

Envision bankruptcy could be 1st canary in the physician services coal mine, MD writer contends

The private equity-backed multispecialty group's failure could have "significant ripple effects" on radiology and other specialties, N. Adam Brown, MD, MBA, wrote recently. 

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Bankruptcy
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Envision bankruptcy could be 1st canary in the physician services coal mine, MD writer contends

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Bankruptcy
The private equity-backed multispecialty group's failure could have "significant ripple effects" on radiology and other specialties, N. Adam Brown, MD, MBA, wrote recently. 
READ MORE >

Featured Articles

American College of Radiology releases new breast cancer screening guidelines

“These evidence-based updates should spur more-informed doctor-patient conversations and help providers save more lives," the document's lead author said. 

READ MORE >
breast radiologist breast cancer mammography
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American College of Radiology releases new breast cancer screening guidelines

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breast radiologist breast cancer mammography
“These evidence-based updates should spur more-informed doctor-patient conversations and help providers save more lives," the document's lead author said. 
READ MORE >

Siemens teams with hospital giant CommonSpirit to acquire imaging vendor in ‘first of its kind’ deal

“Healthcare providers and industry need to work together to solve our common challenges," the president of Siemens Medical Solutions USA said.

READ MORE >
Siemens headquarters
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Siemens teams with hospital giant CommonSpirit to acquire imaging vendor in ‘first of its kind’ deal

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Siemens headquarters
“Healthcare providers and industry need to work together to solve our common challenges," the president of Siemens Medical Solutions USA said.
READ MORE >

Philips will pay $62M to settle allegations of corruption

The accusations pertain to the Amsterdam-based corporation’s sales of diagnostic imaging equipment in China, the SEC announced May 11. 

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Philips Headquarters
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Philips will pay $62M to settle allegations of corruption

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Philips Headquarters
The accusations pertain to the Amsterdam-based corporation’s sales of diagnostic imaging equipment in China, the SEC announced May 11. 
READ MORE >

Latest version of ChatGPT AI passes radiology board exam

However, GPT-4 confidently delivered incorrect or irrelevant answers on some questions, according to new research in Radiology. 

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Rajesh Bhayana MD Toronto General Hospital in Toronto on ChatGPT passing radiology board.
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Latest version of ChatGPT AI passes radiology board exam

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Rajesh Bhayana MD Toronto General Hospital in Toronto on ChatGPT passing radiology board.
However, GPT-4 confidently delivered incorrect or irrelevant answers on some questions, according to new research in Radiology. 
READ MORE >

Radiology Partners announces changes in its board room

William Brody, MD, is stepping down from the practice's governing body, with a notable name serving as his replacement. 

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Andrew Litt
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Radiology Partners announces changes in its board room

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Andrew Litt
William Brody, MD, is stepping down from the practice's governing body, with a notable name serving as his replacement. 
READ MORE >

Radiologists rapidly launch inpatient IR consult service that’s generating tens of thousands in new revenue

Between 2020-2021 (and amid the pandemic), interventional consult volumes climbed 13%, while consult-specific payments leapt by 84%, experts detailed.  

READ MORE >
graph
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Radiologists rapidly launch inpatient IR consult service that’s generating tens of thousands in new revenue

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graph
Between 2020-2021 (and amid the pandemic), interventional consult volumes climbed 13%, while consult-specific payments leapt by 84%, experts detailed.  
READ MORE >

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