The growth will be driven by advancements in digital technology in remote patient diagnosis and a growing focus on vendors offering mobile health services. However, the report also sees a lack of common standards as representing a degree of uncertainty in teleradiology which could impact growth.
At the same time, the global medical imaging equipment market is projected to reach $25.3 billion by 2015. Market growth is set at 4 percent CAGR, driven by technical advances and a demand from emerging economies. However, there is also a risk for cannibalization of medical imaging equipment due to technological advances as well as a growing concern for radiation.
As the market for radiology equipment and teleradiology grows, physicians must stay updated with appropriate documentation to reach accurate CPT codes so the radiologists don't lose money. A recent study published in the Journal of the American College of Radiology examined nearly 12.7 million radiology reports from 37 practices to identify and analyze abdominal ultrasound reports.
The researchers found that 75.1 percent of the reports documented all eight elements for CPT coding as complete examinations, 7.7 percent documented seven elements, 5.6 percent documented six elements, 4.8 percent documented five elements and 13.5 percent documented four or fewer elements.
There were incomplete reports and undercoding in 2.5 percent to 5.5 percent of lost income, according to the report. The study's authors advised structured reporting might improve documentation.
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Global Teleradiology Market to Grow 19.3% to 2015Written by Laura Miller | June 22, 2012
The global market for teleradiology is expected to grow at a CAGR of 19.3 percent through 2015, according to a report from TechNavio.
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