A Radiology Information System (RIS) is designed to facilitate and document procedure performance, manage results, and generate radiology medical billing records. According to a recent medGadget report, the RIS market is poised to see rapid growth globally with technological advancement and innovation. The RIS can be a stand-alone system or connected to an EMR or Practice Management Software.
Along with picture archiving and communication systems (PACS) and electronic medical record (EMR) systems, RIS allows imaging practices to receive physician orders, perform the requested imaging procedure safely and efficiently, and deliver the images and results to referring physicians and patients. The RIS can track radiology imaging orders and patient reports including entire radiology history from admission to discharge. It can generate statistical reports for one patient or for a group of patients.
Recent surveys have found that the radiology information system has grown substantially at a healthy CAGR, driven by the increasing needs of integrated healthcare systems and rise diagnostic industry demand. Futuremarketinsights.com predicts that the RIS market will register a double-digit CAGR during 2015-2025. These trends also augur well for radiology medical billing companies as the RIS facilitates a continuous communication loop between them and radiology departments. Experienced revenue cycle management vendors, as these companies are also called, can work with hospital or radiology information system (RIS) to extract the data needed for billing and help imaging facilities maximize their reimbursements.
Radiology information systems help physicians and hospitals maintain critical data and get access to information from anywhere. According to the report, the key factors driving the growth of the global RIS market are:
- Technological advancements
- Rising aging population
- Increase in the number of chronic diseases
- Consolidation of healthcare providers
- Innovation, improved efficiency and better results
- Increasing demand for better healthcare systems
- Increased use of cloud computing and web-based solutions
The report states that lack of experienced professionals and interoperability issues as barriers to the growth of the RIS market.
North America and Europe are expected to dominate the radiology information market during the forecast period, driven by the need for faster and more effective results.