Understanding Hospital Joint Ventures and Imaging Partnerships
For over 25 years, joint ventures between investors and health care organizations have developed a strong hold in economic interest, and partnerships are expected to continue with their increase. A joint venture is a broad term referring to the combination of two or more parties seeking the development of a single enterprise.
Among hospitals, joint ventures restructure the way they do business with increased efficiency and available expertise for imaging opportunities. Since 2012, radiology groups have actually been encouraged to do joint ventures with hospitals in an outpatient imaging center due to declines in reimbursement, consolidation pressure, and an uncertain future.
Hospital Joint Ventures
Hospital Joint Ventures are models based on shared financial responsibility between two or more parties seeking to develop and expand resources in the healthcare market. Joint ventures between healthcare systems and imaging centers remain independent diagnostic testing facilities (IDTF) to negotiate better rates and provide higher value and cost effective imaging services. They will have their own board of directors representing both the hospital and medical practices, combining capital and expertise for imaging services.
Imaging Center Partnerships
There are many reasons why an imaging center might seek a joint venture partnership in addition to the concerns mentioned above. The most important reason is the ability to grow and face oncoming challenges in the healthcare industry. They seek cost-effective solutions to reduce stress, capitalize on profitability, and have better time management.
By partnering with experienced imaging center management and IDTF development companies such as Outpatient Imaging Affiliates (OIA), your business can grow at a faster pace and reduce costs with a supported staff. With this partnership, it’s easier for imaging centers to invest in new technologies in order to keep up with the competitive market.
Partnering With Outpatient Imaging Affiliates
The business model for Outpatient Imaging Affiliates is to invest equity in each project alongside its local partners while providing development, management, marketing, billing and collection services to the joint venture. We partner with healthcare providers such as health systems, academic medical centers, and radiology groups to develop, market and operate quality, patient-friendly, service-oriented outpatient imaging centers.
We have established a reputation within healthcare ventures by dedicating ourselves to serving the needs of patients and building partnerships driven by customer service. Our strength is in our dedication to excellence in serving the needs of patients, referring physicians, employees, and venture partners.
Ready to bring imaging services to your community? Contact OIA today for your joint venture!