Diagnostic Imaging Intelligence Report
Diagnostic Imaging Intelligence Report (DIIR) is a monthly newsletter which covers new business opportunities in the lucrative field of medical imaging. Each issue gives you concise, up-to-date analysis to help you anticipate key market trends and increase your facility’s revenues with proven growth and cost reduction strategies. DIIR is written for medical imaging providers and for professionals such as directors of radiology, chief operating officers, radiology administrators, branch managers, and others in for-profit, free-standing diagnostic imaging centers, radiology group practices or hospital-based medical imaging outpatient departments.
June 2008 - Table of Contents
A Florida radiologist has agreed to pay $7 million to resolve Medicare fraud allegations against himself, his imaging centers, and other related businesses, the Department of Justice announced April 14 (United States ex rel. Clayman v. Steinberg).
The Centers for Medicare & Medicaid Services (CMS) is proposing several changes to the Stark prohibition on physician self-referral, including a modification to the "stand in the shoes" provisions and a clarification of the period of time for which a physician would be prohibited from referring Medicare patients to an entity for designated health services following a violation.
The United States April 14 filed a complaint in intervention in a False Claims Act (FCA) qui tam action that alleged a California diagnostic clinic defrauded Medicare by performing unnecessary radiological tests, the Office of the U.S. Attorney for the Central District of California said (United States ex rel. Serrano v. Advanced Radiology of Beverly Hills, intervention complaint filed 4/14/08).
The United States has intervened in a whistleblower suit accusing the Christ Hospital, the Health Alliance of Greater Cincinnati, and the Ohio Heart Health Center of defrauding federal health care programs.
The Centers for Medicare & Medicaid Services (CMS) is proposing extensive changes to the inpatient prospective payment system (IPPS) for 2009, including a change to the definition of physician-owned hospitals, a modification of the physician self-referral "stand in the shoes" provisions, clarification of the period of time for which a physician would be prohibited from referring Medicare patients to an entity, and expansion of initiatives linking quality to payment.
Analogic Corp. (Peabody, Mass.) has successfully completed its acquisition of Copley Controls Corporation. Headquartered in Canton, Mass., Copley is a leading supplier of gradient amplifiers for magnetic resonance imaging (MRI) and precision motion control systems used in computer-controlled automation systems.
The Center for Diagnostic Imaging (CDI; Minneapolis) and Radiology Consultants of Washington (RCW) announced April 10 they have reached a merger agreement that will combine their eight Washington outpatient imaging centers.
The Food and Drug Administration (FDA) has given specialty CT manufacturer Xoran Technologies (Ann Arbor, Mich.) a warning letter related to its MiniCat scanner, a compact CT unit used for imaging the sinuses, skull base, and temporal bones.
Given Imaging (Yoqneam, Israel) has reached a settlement with Olympus Corporation over patent litigation related to their respective capsule endoscopy products.
Varian Medical Systems said April 23 that revenue for the second quarter of fiscal 2008 increased 19 percent over revenue for the same quarter last year. For the quarter, revenue was $528 million.
The emerging ultrasound market will experience rapid growth over the next five years, concludes Millennium Research Group (Waltham, Mass.) in a new report.
The 10 stocks in the G-2 Report’s Diagnostic Imaging Index fell by an unweighted average of 20 percent in the four weeks ended April 18, 2008, with three rising and seven falling. Since the beginning of the year, the index has fallen by 57 percent. In comparison, the S&P 500 has dropped about 5 percent, and the Nasdaq has composite has fallen by about 9 percent.
Erich Reinhardt, head of Siemens AG’s health care sector, will resign from the company as a result of compliance violations that took place under his leadership. Reinhardt was not personally involved in the far-reaching corruption at the conglomerate.
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