The Numbers Game
Demographers tell us that the fastest growing segment in the U.S. is that group of citizens that are 65+. Add to this statistic the fact that there are approximately 78 million so called “baby boomers” that are just now arriving at retirement age and the stage is set for a major acceleration in the overall demand for health care services in the next 20 years or so. That is good news and bad news, as usual. The good news is that medical imaging organizations can pretty much count on continued growth in overall demand for their services. The bad news, of course, is that the fighting parties in Washington, D.C. have not yet figured out how to pay for this anticipated growth in Medicare beneficiaries. Radiology practices need to find ways to prepare for an uptick in volume and a simultaneous downturn in reimbursement. It’s a numbers game that will have a profound impact on the economics of tomorrow’s practices. Best to start paying close attention to how shifting demographics will affect your business.