Is cost most important part in value equation?

The most important arm of the value equation may have shifted from quality to cost, according to C. Matthew Hawkins, MD, assistant professor at Emory University School of Medicine.

In the latest entry of the Journal of the American College of Radiology blog, Hawkins writes that future reimbursments may be more closely tied to costs, prompting radiologists to redirect their efforts and resources to lowering costs. Paradoxically, cost may be the hardest part of the value equation to measure, as even CMS doesn't know which costs best represent an imaging practice. It's an immensely complicated system with an alphabet soup of measurements, terms, and regulatory bodies.

Properly measuring cost could make the difference between a thriving specialty and one that's languishing, writes Hawkins. 

"Diagnostic imaging, when used appropriately, can reduce inpatient length-of-stay and prevent unnecessary hospital admissions from the emergency department. Interventional radiology procedures have shorter recovery time and at least equal efficacy compared to more invasive surgical procedures," he wrote. "With respect to societal-related costs, radiology sure seems like a healthcare winner. But without appropriately measuring and reporting costs according to the recommendations issued by national consensus panels, all radiologists may be left with are unreimbursed self-congratulatory anecdotes."