Spurred by cost-cutting pressure from health insurance companies, five Maryland radiology practices have joined forces create the state's largest medical imaging company.
Advanced Radiology, based in Woodlawn, has 28 outpatient facilities and 400 employees, including 52 doctors.
The company was formed by a combination of Copeland, Hyman & Shackman P.A.; LaSalle Diagnostic Imaging; Arundel Radiology; DeCarlo, Lyon, Hearn & Pazourek P.A. and Carroll Imaging Associates.
"What this thing is all about, in truth, is an attempt to maintain the high quality that we have," said Dr. Michael L. Sherman, president of Advanced Radiology. "In order to do that, we have to cut our costs because the insurance companies won't pay the same amounts," he said.
The new company expects to save on expenses by combining its purchases of equipment and supplies, Dr. Sherman said. In addition, a new centralized billing and administration office in Baltimore County has replaced five separate offices that are being closed, he said.
Advanced Radiology is the largest radiology practice in the state.
In addition to the 28 outpatient locations, the new company, which started operation Jan. 1, has operations in six hospitals, including Franklin Square Hospital, Greater Baltimore Medical Center, St. Joseph Medical Center, North Arundel Hospital, Carroll County General Hospital and James L. Kernan Hospital.