Who is Outpatient Imaging Affiliates, LLC?
Outpatient Imaging Affiliates (“OIA”) seeks to joint venture new or existing outpatient imaging centers with local healthcare providers. OIA's business model is to invest its equity along side our partners in such projects and provide long term management services to the centers on behalf of the joint venture.
Why is a joint venture more beneficial than opening a center independently?
The formation of a joint venture with any third party, whether by joint ownership or management agreement, is initiated to provide your organization with a previously existing expertise it otherwise must administer or possibly even develop on its own. In today’s industry environment, there are no opportunities for second chances and a joint venture with an experienced third party encourages a “get it right the first time” mentality while still allowing the originating party the flexibility to focus on its own competencies and priorities.
Additionally, every healthcare provider is faced with increasing demands on an already stretched capital budget and therefore, a joint venture model will minimize your required investment and risk. OIA will provide its own equity in these joint ventures under a flexible financial structure designed to meet the needs of all parties in the venture.
Can Outpatient Imaging Affiliates help manage my existing center?
There are several ways in which OIA can assist your existing operations. If your center is not meeting desired financial performance levels and is in the need of additional capital, OIA can propose a “buy-in” to your existing venture and use the cash to provide the working capital necessary to keep operations flowing while our methodology works to turn your center into a profitable entity.
If your center is performing but the desire exists to reduce your day to day time commitment, OIA will “buy out” a portion of the center allowing you to receive the cash payment. Not only will OIA’s capital provide you with the ability to explore other investments, but our assumption of day to day management responsibility will allow you the time to do so as well.
Lastly, OIA also offers what essentially equates to an “outsourced management” solution whereby OIA will assume day to day operational responsibility for your center without investing our equity or diluting your ownership levels.
So, how does Outpatient Imaging Affiliates management model work?
Each year, OIA will present a Comprehensive Management Plan and Budget to the center’s Board. This document will include a vast amount of information pertaining to the operations of the center including items such as volume forecasts, pro forma financial statements, capital expenditures, marketing plans, hiring needs, expansion opportunities and potential pitfalls. Once approved by the Board, this document becomes OIA’s “marching orders” throughout the year. OIA excels at communication with its partners allowing you to stay on top of your center’s current operating performance while focusing your primary attention on other priorities.
Why should I choose Outpatient Imaging Affiliates over another organization?
Simply stated, OIA’s management team is second to none. With over three decades of experience in the radiological services sector – essentially from the dawn of the diagnostic imaging era - no one can say they have more experienced management. OIA’s reference list is also unmatched. Partners such as The University of Virginia Health System, Thomas Jefferson University, The University of Texas Health Science Center, Adventist Health, Raleigh Radiology and several others have all chosen OIA to implement their outpatient strategies.
Does Outpatient Imaging Affiliates require a majority ownership in the joint venture?
OIA seeks what we consider to be a “meaningful” ownership interest – the amount of which can be dependent on many factors. However, if the parameters of the situation warrant, OIA will certainly accept a minority interest in the venture.
What ongoing business philosophy directs your management of the facility?
The long-term success of any outpatient imaging center is dependant on its ability to provide the highest level of patient care and satisfaction so that it can successfully compete for referrals from satisfied providers. OIA will utilize its management expertise to establish a “comfort culture” at each center. It is not just our hope, but our expectation that with every point of contact – from patient scheduling to physician interaction - all parties involved will receive a positive and pleasant experience.
We also recognize that it is your community in which we are operating. We build upon your existing mission statements, long term strategic goals, and community involvement plans to initiate a quality based, competitive outpatient imaging centers on which you will certainly be proud to put your name.
We are looking to get out of imaging totally – will OIA explore imaging center acquisition opportunities?
Yes, OIA actively seeks acquisition opportunities.