Imaging services provider RadNet and radiology management and interpretation services firm Imaging Advantage have entered into a multiyear strategic relationship.
Under the terms of the agreement, the parties will collaborate to deploy new models for delivering radiology services, combining the outpatient expertise of RadNet with Imaging Advantage's cloud-based professional radiology physician and technology capabilities.
Imaging Advantage will employ and integrate RadNet's California-based radiologists into its cloud-based platform to enable RadNet to optimize its current radiologist capacity, target specialization, and reduce turnaround times.
Among other things, RadNet will share with Imaging Advantage its expertise in billing and collection, risk management, marketing, and payor contracting. In markets where RadNet does not own facilities, RadNet will lend its outpatient imaging expertise and resources to certain Imaging Advantage hospital system partners to help them compete with freestanding outpatient imaging centers and other hospital providers in those markets, the firms said. The intention is to create new revenue opportunities for Imaging Advantage and its hospital partners in these markets.
The parties' expansion plans in 2016 may include additional markets, the firms added.
