Are you considering the purchase of a new MRI for your practice facility? If so, examine these five factors that may change your perception.
Examining why you want to make this purchase
If your main goal here is simply to have a new MRI or a better version of one, there is probably no real need. A lot of time and money goes into an MRI, some of which you may not be able to spare. Evaluate your current situation and examine whether it is a true need. Custom X-rays can help you along the way.
Whether or not you have a business plan set in motion. If you don’t have a written plan evaluating all costs, possible scenarios, or equipment plans, then you most likely need to re-evaluate your needs. Whether you have a working MRI and want a second one or just want to get a new one, there are many aspects to consider. Having a well-written and executed business plan is highly important. Examine your market, finances, and any “worst-case scenarios” that could put you in the hole all because of a new MRI.
Having a plan to market a new MRI
You must have a marketing strategy set in place before purchasing a new MRI. Knowing how your current referring physicians and their referring patterns could affect your growth and the new machine is a major factor. Is your location better or more convenient, either due to location or patient access? These things could play a part in whether a new MRI is required.
The effectiveness of your billing and the ways you are currently paid
Is it cost-effective to get a brand new MRI with your current payer mix? It will be crucial to stay on top of billing and know beforehand that you can afford the change with your current customers. Consider the types of payment, such as Medicare, Medicaid, private pay, and HMO, and whether or not they offer reimbursements for your current studies. Make a five-year plan that allows for different scenarios so that you aren’t bombarded when changes take place. Failing to have a secure billing plan can come back to haunt you.
Understanding the costs and having a prepared budget
Is a new MRI something you can realistically afford? Being prepared for the years after the warranty is up and any services the machine may need is critical. Once again, preparing for any “worst-case scenarios” should be high on the list. Evaluate what it would do to your finances and whether or not your business would bounce back or bleed.
It is a lot to consider, but once you thoroughly evaluate your status and current needs, you will better understand if a new MRI is an absolute need or something that would cause more harm than good. Custom X-Ray is there to offer information and guidance if you choose to move forward with a purchase. Go over each of these five factors thoroughly and make your decision based on facts and thorough research.