New Report Tracks Revenue Generated by Allied Healthcare Professionals
Revenues May Exceed $2 Million Per Year After Staffing Costs
DALLAS, June 19, 2024 (GLOBE NEWSWIRE) -- Allied health professionals such as radiology technologists and therapists can generate millions of dollars a year for their facilities, according to a new report from AMN Healthcare, the nation’s leading provider of healthcare workforce solutions.
The company’s 2024 Allied Healthcare Professional Revenue and ROI Report tracks net revenue generated by various types of radiology technologists and therapists, less the cost of staffing them on a contingent basis.
According to the report, cath lab technologists generate the most net annual revenue of the 16 types of allied healthcare professionals included in the data. Cath lab technologists, who provide critical assistance during cardiac procedures, including operating defibrillators and other equipment, generate an average of more $2.8 million in revenues per year. This equates to $237,375 a month and to $54,778 per week, after contingent labor costs are deducted.
“It is well known in the healthcare industry that physicians generate revenue through the services they provide, but allied healthcare professionals also can be significant contributors to the bottom line,” said Michael Dennis, President of AMN Healthcare’s Allied Staffing Solutions division. “Far from being a cost, they are an important, revenue driving asset.”
Vascular sonographers rank second in revenue generation among allied radiology professionals, generating average net revenues of $1,371,750 per year, according to the report. Nuclear medicine technologists are third, generating average annual net revenues of $1,275,090, while radiation therapists rank fourth, generating average annual net revenues of $1,000,275. General radiology technologists, who typically take x-rays, rank fifth, generating average annual net revenues of $626,825.
In addition to the direct revenue they generate, allied radiology professionals also generate considerable indirect revenue, according to Dennis.
“Without allied radiology professionals to take diagnostic images such as X-rays, MRIs, CAT scans and others, radiologists would be unable to do their jobs,” Dennis said. “The revenue that radiologists generate can be lost or decreased when allied radiology professionals are either unavailable or in short supply.”
According to AMN Healthcare’s 2023 Physician Billing Report, radiologists bill an average of more than $2 million a year to commercial payors alone by interpreting the diagnostic images taken by allied radiology professionals.
The report also tracks revenue generated by physical therapists (PTs), occupational therapists (OTs) and speech language pathologists (SLPs), less the cost of staffing them on a contingent basis. The average direct net annual revenue generated by all three types of therapists is $225,000. According to Dennis, the indirect revenue PTs, OTs and SLPs generate is difficult to calculate, but may include revenues generated by surgeries that require post-operative therapy.
“Therapists, allied radiology professionals and other types of allied healthcare professionals provide baseline services that can generate revenue in themselves, but also are necessary to generating revenue from other sources,” Dennis said.
The report is derived from a national data base of annual billing generated by various types of allied healthcare professionals, less the daily cost of staffing contingent allied healthcare professionals based on prevalent rates. Data referenced in the report was accessed and compiled by AMN Healthcare’s Revenue Cycle Solutions Division. AMN Healthcare’s 2024 Allied Healthcare Professional Revenue and ROI Report can be accessed at https://online.flippingbook.com/view/126104609/.
About AMN Healthcare
AMN Healthcare is the leader and innovator in total talent solutions for healthcare organizations across the United States. People are the heart of healthcare, and at the core of our mission is a commitment to ensure all may thrive. Through a steadfast partnership approach, we solve the most pressing workforce challenges to enable better clinical outcomes and access to care. We provide a comprehensive network of quality healthcare professionals and deliver a fully integrated and customizable suite of workforce technologies.
For over 40 years we have served the healthcare community with workforce planning, recruitment and placement technologies and services, creating a breadth of job opportunities in all specialties and settings, physical and virtual, across the country. Our extensive network of top-tier healthcare professionals includes nurses, physicians, allied health professionals, interpreters, and leaders. We support various employment options, enhancing flexibility for organizations and guiding healthcare professionals throughout their careers.
Our values are core to who we are. We prioritize inclusivity, valuing a multitude of backgrounds and viewpoints, and strive to build a diverse, skilled team that mirrors the communities we serve. At AMN Healthcare, we are empowering the future of care. For more information, visit www.amnhealthcare.com.
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