Indianapolis, IN. – December 30, 2013 – Zotec Partners (Zotec), an industry-leading provider of radiology billing and practice management services, announces an exclusive billing partnership with RadNet, Inc., the largest owner and operator of fixed diagnostic imaging centers in the United States.
Founded in 1984, RadNet, (NASDAQ: RDNT), is a leader in providing high-quality, cost-effective diagnostic imaging services through a network of 251 owned and/or operated outpatient imaging centers, 39 hospital locations, and 15 outside read sites. It is a national provider operating in several states, including California, Maryland, Delaware, Kansas, New Jersey, New York, Rhode Island and Florida. RadNet offers its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures.
According to Taylor Moorehead, regional partner with Zotec, “Like many large radiology groups, RadNet is faced with reimbursement and utilization pressures, increased regulatory requirements, and the impending ICD-10 implementation. Given the close cultural alignment between Zotec and RadNet, we were confident our business intelligence technology would help RadNet outpace the pressures it continues to face in 2014. Our ultimate goal is to increase and expedite cash flow to RadNet’s multiple U.S. locations in a challenging economic environment.”
“RadNet recently implemented a fiscal savings program for its annual operating costs in response to the reimbursement pressure and lower than anticipated utilization the company has experienced this year. We recognized the opportunity to generate significant cost savings and improve performance by working with a billing partner who could provide us with the tools and expertise that have not previously been available to us,” states RadNet’s President and CEO, Dr. Howard Berger. “Zotec proved to be an ideal partner for our group because of its ability to directly impact our bottom line with undeniably sophisticated and cost-effective revenue cycle management solutions, including billing and business analysis technologies.”
Zotec is committed to the continual pursuit of excellence in the physician revenue cycle and practice management industry by delivering effective solutions through innovative software, personalized service and measurable client results. Zotec’s proprietary processes and technology manage in excess of 80 million medical encounters across all 50 states.
For more information about Zotec visit www.zotecpartners.com, and for more information about RadNet, visit www.radnet.com.
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About Zotec Partners
Zotec Partners is the industry leader in specialized radiology medical billing and practice management services. The company delivers comprehensive solutions to radiology groups, imaging centers and teleradiology companies. It uses proprietary revenue cycle management technology paired with experienced professionals who provide exceptional personal service, yielding measurable client results that are unmatched in the radiology industry. Zotec Partners is among the largest national revenue cycle management firms in the U.S., currently serving more than 270 radiology clients. For more information about Zotec Partners, visit http://www.zotecpartners.com.
About RadNet, Inc.
RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 251 owned and/or operated outpatient imaging centers. RadNet's core markets include California, Maryland, Delaware, New Jersey, New York and Rhode Island. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has a total of approximately 6,300 employees. For more information, visit http://www.radnet.com.