Dear AuntMinnie Member,
CHICAGO - "Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."
Those words by Sir Winston Churchill in 1942 were referring to the changing tide of World War II after the Battle of El Alamein. But they could also be applied to the radiology industry, which appears to be slowly climbing out of a painful recession that has gripped the market for the past several years.
Vendors exhibiting at this week's RSNA show are reporting increased interest in equipment purchasing as hospitals appear comfortable enough with the healthcare landscape to consider replacing aging equipment. Recent advances in healthcare IT are pointing to exciting new directions in a more connected, integrated healthcare enterprise that bring medical images closer to patients than ever -- and will require healthcare providers to allocate additional funds to their IT budgets.
But as radiology climbs out of the hole, there are also signs that the industry may never return to the glory days of yore. Radiology groups are consolidating and getting larger, and they are faced with new competitive pressures. The U.S. government and private payors continue to put the squeeze on reimbursement. And many old business models are going by the wayside.
The changes are most obvious at the RSNA conference itself, where lavish corporate parties and vendor booths jam-packed with sales executives have given way to a new frugal sensibility that's even evident in the shorter cab lines at the end of the day in McCormick Place.
The radiology industry that emerges in this new environment will be fundamentally different from the one with which many market veterans are familiar. But there is no question that one thing will remain: the relentless pace of innovation and change that makes radiology such a fascinating discipline.
We hope you enjoyed our coverage of the show in our RADCast @ RSNA. See you next year!
