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Survey Finds Radiologists Concerned About Acquisitions, Compensation

Survey Finds Radiologists Concerned About Acquisitions, Compensation

  • For this survey, we asked radiologists about the changes they are seeing in practice structures. Are radiology groups concerned about being acquired by a hospital or seeing work contracted to teleradiology companies? Have partnership tracks changed? How worried are they about pay reductions and long-term job security? Of the 256 respondents, about 40 percent were radiologists in private practice or imaging center, 33 percent were hospital employees, and 23 percent were employed by an academic medical center. Among the private practice radiologists, most hailed from smaller groups with up to 20 radiologists.
  • Among all respondents, pay reductions and long-term job security topped the list as highest concerns. Many respondents also expressed concern about mergers or buyouts with a hospital or other private practices.
  • Looking closer at radiologists employed by a private practice or imaging center, 74 percent work in groups with 20 or fewer radiologists.
  • Nearly 70 percent of private practice radiologists said they were concerned about being acquired by a local hospital, with 36 percent saying they were “very” concerned.
  • Many private practice radiologists are already seeing business slow. When asked if they worried that acquisitions or outsourcing by the hospital will drive them out of business, 74 percent said they were “very” or “a little” concerned.
  • Most of the private practice respondents want to remain independent. Nearly 70 percent said they didn’t want to become an employee of a hospital or health system. And 71 percent said they were not considering an acquisition or partnership with a teleradiology company.
  • Just like their colleagues as a whole, private practice radiologists are resoundingly concerned about long-term job security and pay reductions.
  • The current employment climate is also affecting the partnership track at many radiology practices. Thirty-two percent of respondents said the path has changed, but they were mixed on how it’s changed.About a third said the path to partnership is longer, and nearly 30 percent said it is not offered to new associates.
  • Radiologists employed by hospitals aren’t insulated from the changes in practice structure. Half of respondents said they worried about staff reductions and day hawking. And nearly a quarter said they would prefer to be in private practice.

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