RadNet sees advanced-imaging volumes leap nearly 20%, driven by key efficiencies
RadNet Inc. says it saw advanced-imaging volumes leap nearly 20% in the third quarter of 2026, driven by key efficiencies.
When counting on a same-center basis—filtering out new acquisitions and including only centers RadNet operated in both quarters—advanced imaging volumes increased 9% compared to Q3 of 2025. Altogether, the publicly traded, Los Angeles-based company recorded “record” revenue of $638 million in the three months ending Sept. 30, up 22% from Q3 of 2025.
About 30.6% of all imaging RadNet handles is now classified as MRI, CT or PET/CT, up 232 basis points from the 28.2% seen last year.
“We have a very strong emphasis on advanced imaging,” President and CEO Howard Berger, MD, told investors during a conference call on Monday, according to a transcript provided by Motley Fool. “The demand continues to accelerate—first because of just enlarging population and aging population. But perhaps more importantly, [because of] many new tools that are now available with artificial intelligence and other ways of making our equipment that much faster.”
Overall, MRI volumes increased 18% year over year, CT was up about 22% and PET/CT surged more than 30%. Routine imaging volumes—including X-ray, ultrasound, mammography and other exams—increased by about 11%. When focusing only on the same centers both quarters, MRI volumes increased 8%, CT 10%, and PET/CT about 8%. Meanwhile, routine imaging exams increased about 3% over the previous year’s same quarter, RadNet reported.
Berger and colleagues discussed some of the strategies the company has deployed to help boost advanced imaging volumes. RadNet has begun transitioning PET/CT scanners to the latest technology. This has allowed some nuclear exams to be delivered in less than 15 minutes, when they used to take an hour.
“So, that is driven by the demand, and rather than us putting another PET/CT scanner in, we've been able to almost double our PET/CT volume, which was unthinkable perhaps even two years ago,” Berger told investors.
Demand for cardiac CT angiography also has grown considerably among asymptomatic patients who are potentially high-risk and seeking to determine the extent of their heart disease. Berger estimated it has seen almost 100-fold growth in this segment, since RadNet launched a formal CCTA program about one and a half years ago. Many are customers who have sought alternatives to more costly hospital-based imaging, he added.
The company also has seen a “significant” increase in breast MRI volumes because of cancer screenings among high-risk patients. Along with that, CT and traditional MRI continue to see high demand, partially driven by the quality and capabilities of newer technology.
“We certainly have added an enormous amount of capacity. And it's likely that in 2027, our growth for PET/CT and advanced imaging will continue at the same rate that we're seeing right now,” Berger told investors.
Chief Financial Officer Mark Stolper also touted the continued rollout of RadNet subsidiary DeepHealth’s TechLive remote-scanning solution. Cleared by the U.S. Food and Drug Administration in 2025, the product allows off-site radiologic technologists to control multiple scanners, enabling centralized operation and supervision of imaging systems.
Stolper said this has allowed RadNet to lower exam-room closure hours, helping the company address staffing challenges or scenarios where a rad tech has called in sick. In Q3, about 13% of all MRI scans were completed with remote techs. RadNet plans to continue growing this number, eventually training the majority of technologists to control multiple machines simultaneously.
“We’re still really at the infancy of rolling that out,” Stolper said. “It’s not only about building that capacity but also the utilization of that capacity and dealing with staffing shortages,” he added later.
Berger also touted the company’s recent plans to acquire teleradiology provider OnRad for more than $350 million. RadNet said the move will allow it to expand into the hospital-based imaging market, introduce efficiency products such as TechLive in new settings, and further expand the delivery of advanced imaging, which costs more and notches higher company revenues.
“So, I encourage everyone to think broader in terms of what the OnRad acquisition allows us to do with the credibility and proven tools that I believe can be beneficial to any hospital system,” Berger told investors.
RadNet bills itself as the leading provider of freestanding, fixed-site diagnostic imaging services in the U.S., based on the number of locations and annual imaging revenue. The company now operates about 450 imaging centers spanning 11 states. You can read more about its Q3 earnings results here.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.