on February 16, 2012 |
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Topics: Service Lines, Oncology, Imaging, Volume Growth, Strategy, Service Line Growth
Eric Cragun
Late last year, we introduced the Service Line Forecast Compendium, a new resource for Marketing and Planning Leadership Council members. The compendium offers downloadable and online snapshots to help members assess growth prospects for key service lines. We’ve designed the compendium to be a quick reference for our members. We’re excited to release two snapshots for two additional service lines: oncology and diagnostic imaging.
In the inpatient setting, medical oncology admissions comprise the majority of both volumes and profits for the oncology service line. In HOPD settings, while chemotherapy is the highest volume oncology service, radiation therapy clearly drives the largest share of profits. We expect chemotherapy and advanced radiation therapy volumes to grow rapidly across the next five years, making outpatient oncology services a key growth area for many institutions.
Volume of diagnostic imaging services will also grow, albeit at a somewhat slower pace. The growth—which we foresee across all imaging modalities, but particularly advanced modalities—will be led by PET, MRI, and CT services in HOPD settings. Much of the growth will be driven by an aging population and further market penetration of advanced technology.
In addition to the new additions, the Service Line Forecast Compendium also contains snapshots of cardiac services, vascular services, orthopedics, and neurosciences service lines. We will continue to add to the compendium in coming months. Please email me (cragune@advisory.com) with any suggestions.
