Within Northern New Jersey market, there was only one MR unit servicing population of more than ten million. Business plan was developed, but neither necessary capital nor access to funding was available to complete project.
Networked through contacts to team with group of healthcare professionals with established outpatient imaging centers. Persuaded them to provide necessary funding to establish state-of-the-art imaging center in New Jersey.
$4 million raised by conducting public offering with underwriter of major backer.

Was approached by two physicians about establishing MR imaging facility in nearby, blue collar neighborhood in Newark, NJ. Many felt that second nearby office could be source of competition and parasitize portion of well-established referral base.
Met with key physicians, business leaders, real estate brokers, and politicians in community to determine their levels of interest and support. Initiated discussions with nearby community hospital to establish relationship of shared MR imaging services.
$855,000 in additional revenues generated as result of taking initiative in forging relationships with both associates and competitors in market.

Revenues for imaging center were stagnant, and costs for maintaining aging piece of highly technological equipment (MR unit) were increasing. Office was not profitable enough to either support upgrades or purchase new MRI unit, and it was highly likely that competition would arise within two years, thus increasing chances of failure.
Entered discussions with other radiology and physician groups to assess their interest in acquiring center. Negotiated with growing physician group that shared building and persuaded them into purchasing center.
$315,000 in profit realized and future losses avoided by successfully negotiating and selling organization.

Following liquidation of medical practice, it was imperative that new source of income was developed. Having been immersed in medicine for very long time, no direct experience with other revenue-generating opportunities existed.
After significant research, chose to engage in financial trading arena. Rapidly gained understanding and knowledge base of financial markets, trading opportunities, psychology for trading, and IT platforms available for effective trading. Consulted with experts in the field and experimented with variety of web-based simulator techniques in order to develop sound trading strategies.
$220,000 in annual revenue yielded as direct result of being able to definitively research and apply techniques to become expert in topic within limited amount of time.

New angiography and interventional radiology service was being introduced to hospital; however, it's medical and surgical staff were resistant to change. In addition, what budget project did have was inadequate and highly scrutinized by all members of staff.
Gained confidence of new colleagues. Befriended leading internists and surgeons in order to gain their support for new service. Formed critically important relationship with chairperson of surgical department. Introduced new procedure cautiously, and its popularity grew among staff ranks.
97% increase in procedures per day, effectively allowing department to expand into additional angiographic suite and to purchase more than $3 million in new equipment.

Asked to serve as mentor and consultant to both physicians and technologists at another private imaging center. This particular imaging center had some geographic catchment overlap with primary center, which created potentially serious conflict of interest.
Closely assessed situation through sensitive discussions with several key referring physicians. Evaluated multiple, key strategic considerations and benefits that might offset loss of MR revenue. Determined that some physicians had multiple offices and could continue referral efforts from their local office MR business.
12.5% increase in MR and 8.5% increase in non-MR referrals to imaging center seen by appropriately weighing benefits of strategic decision.

Due to operating inefficiencies, radiology department was losing significant amount of money, despite large volume of x-rays being generated in emergency room. Hospital was reluctant to change its procedures due to fear of damaging one of its key profit centers - the Emergency Room.
Analyzed data available for radiology services provided in ER. Determined that more than 40% of patients' basic demographic and insurance information sections were left either blank or incomplete. Presented findings to hospital administration in manner that gained approval for adoption of plan and implementation of recommendation that member of radiology department be instituted in ER to gather appropriate patient information.
$319,000 in ER revenue collections, or 51% boost, seen by taking charge of and analyzing situation as well as taking time to develop best strategy for achieving results.

After replacing productive and very popular director of imaging, it was necessary that smooth transition occur, especially for those who had previously been peers and were then subordinates. Certain level of animosity existed among staff, which could potentially lead to lack of productivity.
Made it clear to entire staff that policies and procedures would remain same throughout transition. Continued same routine of daily work schedules and conferences until confidence of both departmental workers and medical staff was earned.
6.7% increase in revenue achieved by gaining employee trust in order to institute meaningful changes that expanded department service offerings.

Department's equipment was severely strained, and new equipment was necessary to perform daily procedures. Without additional investments, it would no longer be safe to perform certain exams; however, there was lack of funding support by radiology department and hospital administration.
Generated list of necessary equipment to support angiography and interventional procedures service. Prepared and presented study comparing lack of equipment, supplies, and support with other regional hospitals. Built upon good will already established to solidify case for additional funding and expansion of services.
$1.77 million in revenue generated for hospital by successfully gaining support for enhancements of facility.

Upon accepting position of Director of Imaging, there was general dissatisfaction regarding consultation between medical and surgical services as well as radiology department. Majority of resentment existed due to poor communication.
Met with department chairs seeking improved relationships between departments and discussed both their grievances and needs. Established reciprocal relationship where both departments would attend weekly presentations of case studies on alternating location basis. Created program for residents in other specialties to rotate through imaging department in order to develop deeper understanding of various imaging modalities and techniques.
Eliminated 97% of all complaints between departments by utilizing leadership role to develop programs in order to open up communications.

There was a strong desire to build a successful MRI operation within area. However, group faced significant political difficulties within medical community. Presence of new radiology office was perceived as threat to local entrenched physicians, and nearby hospitals attempted to influence their staff members to refrain from referring patients to office.
Created financial benefit for both parties by engaging local hospital administrators to discuss affiliation agreement with imaging center. Met with local radiologists to establish means of productive communication as well as obtain their support for proposed hospital agreement. Presented credentials to local physicians and solicited opportunity to serve their outpatient imaging needs.
24% increase in revenue seen by earning respect of medical professionals in surrounding area of new business venture.

In order to obtain the financial backing to construct an imaging center in New Jersey, capital had to be raised through an investment banker.
The funds available for the new office in NJ would come from a much larger tranche of investment dollars that would be used to fund the creation of five imaging centers in five different states. Unless the full amount needed to fund all five centers was obtained, new center would not be funded.
In short order, poignant presentations were prepared and became well versed in the financial details and pro formas of the private offering and planned imaging centers.
Raised over $22 Million to fund all five offices in 3 months.