To model the potential financial impact that using Vital’s Practice Management applications can have on your imaging business’s bottom line:
Start by estimating your imaging service line’s current revenue.
- Enter the number of hospitals or imaging sites in your organization.
- Enter the average number of exams performed daily at each site by modality type.
- Average exam income by modality types have been pre-populated but can be optionally changed to reflect your specific reimbursement rates.
- Enter the annual number of work days.
- Enter your estimated profit margin in the “EBIT as % of Income” field.
- (for reference, the total net margin for US hospitals was 7.9% as of 2015*)
Next, model your “future state” by entering the target percentage increases and decreases you may achieve by using data to inform your management decisions.
- How much could you increase your exam volume by identifying referral patterns and proactively managing your referral pipeline?
- How much could you decrease your costs by better managing utilization of existing modality resources?
- How much more might you be able to reduce costs by increasing workflow, staffing and IT resource utilization efficiencies?
Finally, click on the “Calculate” button to see the estimated annual financial impact in the “$ Change” field.
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This calculator is designed to assist potential customers of Vital Images, Inc. in modeling the potential revenue increases and costs over time of using Vital Enterprise Analytics software within your enterprise. In order to use the calculator, you should make several estimates, including but not limited to its costs for software, maintenance, the annual number of radiology procedures performed in its enterprise by modality type; the average reimbursement associated with imaging exams; similar data for software from other providers; and various other factors.
After the appropriate data is entered into the calculator, you will receive an estimate of the total cost of ownership to be incurred by using Vital’s product along with the associated potential revenue increases.
The actual total cost of ownership of analytics solutions may vary depending upon a number of factors that are not captured by this calculator. Further, technologist and physician costs, as well as reimbursement, may vary. All output of the calculator is based on estimates and data input by the customer and should not be construed as a guarantee or warranty of any specific cost savings or revenue increases by Vital Images.