Top 10 Radiology Stories of 2024

What were the top 10 radiology stories of 2024 in The Imaging Wire? This year’s top 10 list as measured by reader views demonstrates the fascinating new developments going on every day in medical imaging.

  1. Radiologist Shortage Looms: A July report painted a gloomy picture of the demographic crush facing radiology as the U.S. population ages and imaging volumes rise, but the number of radiologists remains static.
  1. Study Shows AI’s Economic Value: A March study in JACR tackled arguments against AI’s economic value, demonstrating AI’s ability to both improve radiologist efficiency and also drive new revenues for imaging facilities. 
  1. Radiology’s Private-Practice Squeeze: It’s no secret that U.S. radiology’s traditional private-practice model has been slowly fading away, but a study published in AJR in June illustrated the magnitude of the shift. The number of radiologist-affiliated and radiologist-only practices has dropped, even as the total number of U.S. radiologists has gone up.
  1. Radiologist Pay Rebounds: Radiologist pay grew 5.6% and radiology moved up one notch in a May survey of highest-paid U.S. medical specialties for 2023. Physician salaries generally rebounded last year after a decline in 2022.
  1. FDA Keeps Pace on AI Approvals: The FDA in August updated its list of AI- and machine learning-enabled medical devices that have received regulatory authorization, showing the agency keeping a brisk pace of authorizations.
  1. Is Radiology’s AI Edge Fading? FDA figures from May hinted that radiology’s AI edge might be fading, at least when it comes to the specialty’s share of AI-enabled medical devices being granted regulatory authorization.
  1. Is Head CT Overused in the ED? A study in March suggested that head CT could be overused in the emergency department for patients presenting with conditions like headache and dizziness, as researchers found a big increase in CT angiography utilization.
  1. AI Speeds Up MRI Scans: Researchers in March found that AI-based data reconstruction sped up MRI scans and helped their hospital avoid buying a new scanner by improving throughput. 
  1. 6 Solutions to the RT Shortage: A new report published in July from the ASRT and other groups confirmed the shortage of radiologic technologists is severe, but offers some solutions. 
  1. MASAI Gets Even Better at ECR 2024: At ECR 2024, researchers in the MASAI study presented final data indicating that AI could have an even bigger impact on mammography screening than we thought.

The Takeaway
The Imaging Wire’s list of top 10 articles for 2024 shows that bread-and-butter issues like the radiologist shortage and physician reimbursement continue to be top of mind for our readers. The use of AI in radiology is a close second, and our readers can be assured that we will follow all of these issues closely in 2025.

RSNA 2024 Video Highlights

Last week’s RSNA 2024 meeting saw a major bounce in attendance, with early numbers indicating an 18% jump in the number of radiology professionals wandering the halls of McCormick Place. The increase brought total attendance at midweek to 40k. 

As in past years, AI dominated the discussion, both in the presentation rooms and on the exhibit floor. Researchers presented the latest findings on AI’s ability to aid radiologists, while vendors showcased new algorithms for use cases from mammography screening to fracture detection. New technologies like foundation models for AI training bubbled under the surface and promise to have a major impact in years to come.

It was our privilege to speak with many of the most interesting vendors exhibiting at RSNA 2024, from multinational vendors to small but promising start-ups.

We hope you enjoy watching our coverage as much as we enjoyed producing it! Check out the links below or visit the Shows page on our website.

ECR 2024 Video Highlights

The theme of ECR 2024 was Next Generation Radiology, and those who were in attendance at Austria Center Vienna truly got a glimpse of what the future of medical imaging will look like. 

From the latest in cutting-edge AI research to new developments for classic technologies like radiography, ECR 2024 spotlighted why radiology has a bright future ahead. 

In this special edition of The Imaging Wire newsletter, we offer a recap of our ECR video interviews with thought leaders and imaging vendors from the exhibit floor. 

We hope you enjoy watching our coverage as much as we enjoyed producing it! Check out the links below or visit the Shows page on our website, and keep an eye out for our next Imaging Wire newsletter on Thursday.

The 35 Best Radiology Sources

Our list of the top radiology news sources last year generated a lot of excitement, so we’re updating the list for 2024 with the people and publications we rely on to find the most interesting medical imaging stories. 

Top Radiology Sites

From a radiology newsletter with a laser focus on AI to an educational site with thousands of radiology cases, you’re sure to find something that meets your needs from the list below.

  • AI for Radiology – A great source for news on AI, including the Project AIR testing clearinghouse.
  • DI Europe – Two European journalists reviving one of radiology’s most venerable brands.
  • Medality Radiology Report Podcast – Medality CEO Daniel Arnold interviews the biggest names in medical imaging. Think Howard Stern for radiology.
  • radHQ.net Forums – In a short time this has become the go-to public bulletin board for radiologists. Bring popcorn. 
  • Radiopaedia – The best site for educational radiology content, bar none.
  • Signify Research – Home of the best radiology market analysis, backed by actual market data.

Top Radiology Key Opinion Leaders

Radiology is fortunate to have a wealth of really smart people sharing their thoughts on medical imaging technology. Here are a few of the best.

  • Jan Beger – OEM executive with insightful high-level thoughts on AI.
  • Mike Cannavo – The one and only PACSman, with invaluable insights on AI and enterprise imaging.
  • Francis Deng, MD – Great analysis of radiology education and residency trends.
  • Rich Duszak, MD – Always a superb source for radiology leadership and responsible imaging.
  • Tobias Gilk – Radiology’s conscience on MRI safety. 
  • Tom Greeson – The authority for perspectives on legal issues in radiology.
  • Laura Heacock, MD – A leading voice on AI research and advancements.
  • Saurabh Jha, MBBS – Delivers keen radiology insights with a biting wit.
  • John Kalafut, PhD – Former vendor executive now offering AI wisdom.
  • Woojin Kim, MD – One of radiology’s best sources for keeping up with the latest AI research. 
  • Amine Korchi, MD – A radiologist with an eye for business news.
  • Nina Kottler, MD – Eloquent and informed insights from the frontlines of imaging. 
  • Curt Langlotz, MD, PhD – The first place we look for imaging AI context.
  • Rizwan Malik, MD – Incredibly insightful and uniquely autobiographical. 
  • Geraldine McGinty, MD – New platform, but still the moral compass of radiology.
  • Herman Oosterwijk – The unquestioned authority on DICOM and enterprise imaging.
  • Sebastian Schmidt – OEM executive with insightful analysis on CT lung cancer screening.
  • Vikas Shah, MD – Radiopaedia managing editor. Come for the educational content, stay for the dart takes. 
  • Ben White, MD – Excellent insights into the vagaries of being a working radiologist.
  • Reza Zahiri – Detailed LinkedIn posts that deconstruct the financial positions of medical imaging vendors.

Healthcare Newsletters and Sites

Looking to get out of the radiology niche and broaden your horizons? Check out some of these healthcare newsletters and websites.

The Takeaway

This list should cover all your bases for staying informed about the latest developments in radiology news, especially in the red-hot AI segment. Or, just sign up for The Imaging Wire and we’ll do it for you.

PS – As always, if there’s any radiology publications or healthcare news sources that should be on this list, let us know!

Earnings Season Momentum

As medical imaging vendors wrap up another quarterly earnings season, most radiology companies for the November to January period continued with the momentum they showed in the fall of 2023

Large multimodality OEMs in particular saw continued success, with most saying that hospital capital equipment purchasing is crawling back to a normal level. Smaller vendors and niche players were more likely to struggle, on the other hand. 

Accuray – This radiation therapy vendor saw sales at constant exchange rates drop (-8% to $106M) while its net loss grew (-$9.6M vs. -$1.9M). 

Canon – Canon’s medical business unit enjoyed strength in Europe and Japan and in MRI, X-ray, and ultrasound, propelling the division to record quarterly revenues (8.9% to $1.12B) while operating profit boomed (38% to $93.3M). 

Fujifilm – Fujifilm saw revenues grow in its healthcare division (+10% to $1.65B) thanks to steady sales of endoscopes and CT/MRI scanners. The company has also seen strong sales of mobile X-ray systems in the US and PACS and 3D software in the US and Europe.  

GE HealthCare – GE HealthCare turned in a strong final quarter in its first full year as an independent public company thanks to good revenue growth (5% to $5.21B), with segment revenue increasing in imaging (4%), pharmaceutical diagnostics (25%), and patient care solutions (5%), making up for a decline in ultrasound (-1%). Net income slipped on lower margins (-27% to $416M). 

Hologic – Hologic continued to put supply chain problems in the rearview mirror, seeing quarterly revenue jump in its breast health business (12% to $378M). The company’s overall net income spiked (32% to $247M). 

Konica Minolta – Revenue after currency adjustment edged up in Konica Minolta’s medical business (2% to $236M) but the division posted an operating loss (-$11M) on “restrained investments” that slowed the US hospital market.  

Philips – Philips saw revenues after currency adjustment grow 5% in its diagnosis and treatment division for its final quarter of the fiscal year ($2.7B), while operating income slipped ($142M vs. $200M). Sales grew in the high single digits in image-guided therapy. 

Siemens Healthineers – Strong revenue growth in its Varian radiation oncology business (22%) helped offset a decline in COVID-19 antigen testing to propel an overall increase in Siemens’ first fiscal quarter sales. The company’s imaging segment grew 5.3% to $3B and advanced therapies was up 5% to $511M, while Varian reported sales of $981M.

Varex – Due to a 13% drop in medical segment sales, Varex saw quarterly revenues decline (-8% to $190M). The digital X-ray vendor fell into the red for the period against the year-ago quarter (-$400k vs. $3.2M).

The Takeaway

This earning season’s results show that radiology continues to emerge from COVID’s long shadow with building momentum. Future earnings periods will hopefully demonstrate continued prosperity.

Top 12 Radiology Trends for 2024

What will be the top radiology trends for 2024? We talked to key opinion leaders across the medical imaging spectrum to get their opinions on the technologies, clinical applications, and regulatory developments that will shape the specialty for the next 12 months.

AI – Generative AI to Reduce Radiology’s Workload: “New generative AI methods will summarize complex medical records, draft radiology reports from images, and explain radiology reports to patients using language they understand. These innovative systems will reduce our workload and will provide more time for us to connect with our colleagues and our patients.” — Curtis Langlotz, MD, PhD, Stanford University and president, RSNA 2024

AI – Generative AI Will Get Multimodal: “In 2024, we can expect continued innovations in generative AI with a greater emphasis on integrating GenAI into existing and new radiology and patient-facing applications with growing interests in retrieval-augmented generation, fine-tuning, smaller models, multi-model routing, and AI assistants. Medicine being multimodal, the term ‘multimodal’ will become more ubiquitous.” — Woojin Kim, MD, CMIO at Rad AI

AI – Will AI Really Reduce Radiology Burnout? “Burnout will continue to be a huge issue in radiology with no solution in sight. AI vendors will offer algorithms as solutions to burnout with catchy slogans such as ‘buy our lung nodule detector and become the radiologist your parents wanted you to be.’ Their enthusiasm will cause even more burnout.” — Saurabh Jha, MBBS, AKA RogueRad, Hospital of the University of Pennsylvania

Breast Imaging – Prepare Now for Density Reporting: “The FDA ‘dense breast’ reporting standard to patients becomes effective on September 10, 2024, and breast imaging centers should be prepared for new patient questions and conversations. A plan for a consistent approach to recommending supplemental screening and facilitating ordering of additional imaging from referring providers should be put into action.” — JoAnn Pushkin, executive director, DenseBreast-info.org

Breast Imaging – Density Reporting to Spur Earlier Detection: “In March 2023, FDA issued a national requirement for reporting breast density to patients and referring providers after mammography. Facilities performing mammograms must meet the September 2024 deadline incorporating breast density type and associated breast cancer risk in their reporting. This change can lead to earlier breast cancer detection as these patients will be informed of supplemental screening as it relates to their breast density and [will] choose to pursue it.” — Stamatia Destounis, MD, Elizabeth Wende Breast Care and chair, ACR Breast Imaging Commission

CT – Lung Cancer Screening to Build Momentum: “Uptake of LDCT screening for lung cancer will increase in the US and worldwide. AI-enabled cardiac evaluation, even on non-gated scans, will allow for prediction of illnesses such as AFib and heart failure.  Quantifying measurement error across platforms will become an important aspect of nodule management.” — David Yankelevitz, MD, Icahn School of Medicine at Mount Sinai Health System

CT – Photon-Counting CT to Expand: “In 2024, we will continue to see many papers published on photon-counting CT, strengthening the body of scientific evidence as to its many strengths. Results from clinical trials involving multiple manufacturers’ systems will also increase in number, perhaps leading to more commercial systems entering the market.” — Cynthia McCollough, PhD, director, CT Clinical Innovation Center, Mayo Clinic

Enterprise Imaging – Time is Ripe for Cloud and AI: “Healthcare has an opportunity for change in 2024, and imaging is ripe for disruption, with burnout, staffing challenges, and new technology needs. Many organizations are expanding their enterprise imaging strategy and are asking how and where they can take the plunge into cloud and AI. Vendors have got the message; now it’s time to push the gas and deliver.” — Monique Rasband, VP of strategy & research, imaging/oncology at KLAS

Imaging IT – Data Brokerage to Go Mainstream: “A new market will hit the mainstream in 2024 – radiology data brokerage. As data-hungry LLMs scale up and the use of companion diagnostics in lifesciences proliferates, health systems will look to cash in on curated radiology data. This will also be an even bigger driver for migration to cloud-based imaging IT.” — Steve Holloway, managing director, Signify Research     

MRI – Prostate MRI to Reduce Biopsies: “Prostate MRI in conjunction with PSMA PET will explode in 2024 and reduce the number of unnecessary biopsies for patients.” — Stephen Pomeranz, MD, CEO of ProScan Imaging and chair, Naples Florida Community Hospital Network 

Theranostics – New Radiotracers to Drive Diagnosis & Treatment: “Through 2024, nuclear medicine theranostics will increasingly be integrated into standard global practice. With many new radiopharmaceuticals in development, theranostics promise early diagnosis and precision treatment for a broadening range of cancers, expanding options for patients resistant to traditional therapies. Treatments will be enhanced by personalized dosimetry, artificial intelligence, and combination therapies.” — Helen Nadel, MD, Stanford University and president, SNMMI 2023-2024

Radiology Operations – Reimbursement Challenges Continue: “In 2024, we will continue to experience recruitment challenges coupled with decreases in reimbursement. Now, more than ever, every radiologist needs to be diligent in advocating for the specialty, focus on business plan diversification, and ensure all services rendered are optimally documented and billed.” — Rebecca Farrington, chief revenue officer, Healthcare Administrative Partners 

The Takeaway
To paraphrase Robert F. Kennedy, radiology is indeed living in interesting times – times of “danger and uncertainty,” but also times of unprecedented creativity and innovation. In 2024, radiology will get a much better glimpse of where these trends are taking us.

Top 10 Radiology Stories of 2023

What were the top 10 radiology stories of 2023 in The Imaging Wire? From worklist cherry-picking to a wearable breast ultrasound scanner – and with lots of AI in between – this year’s top 10 list demonstrates the fascinating new developments going on every day in medical imaging.

1. The Perils of Worklist Cherry-Picking

If you’re a radiologist, chances are at some point in your career you’ve cherry-picked the worklist. But picking easy, high-RVU imaging studies to read before your colleagues isn’t just rude – it’s bad for patients and bad for healthcare. That’s according to a study in Journal of Operations Management that analyzed radiology cherry-picking in the context of operational workflow and efficiency. 

2. Tipping Point for Breast AI? 

Have we reached a tipping point when it comes to AI for breast screening? A study in Radiology demonstrated the value of AI for interpreting screening mammograms. 

3. Autonomous AI for Medical Imaging is Here. Should We Embrace It? 

What is autonomous artificial intelligence, and is radiology ready for this new technology? In this paper, we explored one of the most exciting autonomous AI applications, ChestLink from Oxipit. 

4. Undermining the Argument for NPPs

If you think you’ve been seeing more non-physician practitioners (NPPs) reading medical imaging exams, you’re not alone. A study in Current Problems in Diagnostic Radiology found that the rate of NPP interpretations went up almost 27% over four years. 

5. Reimbursement Drives AI Adoption

It’s no secret that insurance reimbursement drives adoption of new medical technology. But an analysis in NEJM AI showed exactly how reimbursement is affecting the diffusion into clinical practice of perhaps the newest medical technology – artificial intelligence. 

6. Radiation and Cancer Risk

New research on the cancer risk of low-dose ionizing radiation could have disturbing implications for those who are exposed to radiation on the job – including medical professionals. In a study in BMJ, researchers found that nuclear workers exposed to occupational levels of radiation had a cancer mortality risk that was higher than previously estimated.

7. Cardiac Imaging in 2040

What will cardiac imaging look like in 2040? It will be more automated and preventive, and CT will continue to play a major – and growing – role. That’s according to an April 11 article in Radiology in which Dr. David Bluemke and Dr. João Lima looked into the future and offered a top 10 list of major developments in cardiovascular imaging in 2040.

8. When AI Goes Wrong

What impact do incorrect AI results have on radiologist performance? That question was the focus of a study in European Radiology in which radiologists who received incorrect AI results were more likely to make wrong decisions on patient follow-up – even though they would have been correct without AI’s help.

9. The 35 Best Radiology Newsletters, Blogs, and Websites to Follow

We dedicated March 6th’s top story to the people and publications that we rely on to find the most interesting medical imaging stories. Assuming that you already subscribe to The Imaging Wire, these are the 35 other newsletters, websites, blogs, and accounts to follow if you want to know what’s happening in radiology.

10. Breast Ultrasound Gets Wearable

Wearable devices are all the rage in personal fitness – could wearable breast ultrasound be next? MIT researchers have developed a patch-sized wearable breast ultrasound device that’s small enough to be incorporated into a bra for early cancer detection. They described their work in a paper in Science Advances.

The Takeaway

The Imaging Wire’s list of top 10 articles for 2023 shows that, while artificial intelligence featured prominently during the year, there was much more to radiology than just AI. We hope you enjoyed reading our content this year as much as we enjoyed bringing it to you.

RSNA 2023 Video Highlights

That’s a wrap! 

RSNA 2023 just concluded, and by most accounts it was a successful conference. Preliminary figures indicate that attendance was up 11% over 2022. While short of the glory days of RSNA, the numbers indicate that the meeting’s recovery from the COVID-19 pandemic will be slow but steady.

As expected, AI was a dominant theme at McCormick Place, and that’s reflected in our video coverage of the technical exhibit floor. AI busted out of the AI Showcase to permeate both exhibit halls, a sign of the technology’s growing influence on radiology.

We profiled many of the most intriguing companies that were exhibiting at RSNA 2023 – some of them dominant players in the field while others are new entries looking to secure a foothold. 

We hope you enjoy watching our coverage as much as we enjoyed producing it! Check out the links below or visit the Shows page on our website.

Welcome to RSNA 2023

It’s off to the races at RSNA 2023 as radiology’s showcase conference kicked off on Sunday. 

“Leading Through Change” is the theme of this year’s meeting, and it’s an appropriate slogan for a specialty that seems on the cusp of disruption with the growing use of AI, deep learning, and other tools. 

  • AI is being featured prominently in scientific presentations and vendor exhibits in McCormick Place, with a particular focus on whether large language models like ChatGPT can find practical application in radiology. Early research is promising but still inconclusive.

Another major focus at RSNA 2023 has been lung cancer screening, with Sunday afternoon sessions investigating how screening can be expanded

  • Researchers mined a database of 32k women who got screening mammography to find eligible candidates for lung screening, finding 5% who met screening criteria. 
  • Using the USPTSF’s 2021 guideline revision to find screening candidates led to shorter smoking histories (42 vs. 29 pack-years) and slightly more women being eligible (48% vs. 46%). 
  • ChatGPT gave more correct answers than Google Bard to non-expert questions on lung screening (71% vs. 52%).
  • ChatGPT, GPT-4, and Bard needed multiple iterations to produce reports readable by patients. 

AI is also proving its value for selecting screening candidates and identifying lung pathology: 

  • An AI algorithm analyzed chest X-rays to determine whether an individual would benefit from CT lung cancer screening – even if they don’t smoke. In 17.4k patients, the model classified 28% as high risk, 2.9% of whom were later diagnosed with lung cancer, a higher level than the 1.3% six-year threshold at which guidelines recommend CT lung screening.
  • A deep learning algorithm analyzed chest X-rays in a cohort of 10k patients to predict who would develop type 2 diabetes, turning in better accuracy than a model that only looked at clinical factors like age, BMI and HbA1c levels (AUCs:  0.84 vs. 0.79). 

Looking for more coverage of RSNA 2023? Be sure to check out our videos from the technical exhibit floor, which you can find on our new Shows page

The Takeaway
The RSNA has always been known as the Super Bowl of radiology, and this year’s meeting is off to a great start. Be sure to check back on our Twitter/X, LinkedIn, and YouTube pages for more coverage of this week’s events in Chicago.

Vendors Enter RSNA on Q3 Roll

As RSNA 2023 approaches, medical imaging vendors appear to be on a roll when it comes to financial results. In the weeks leading up to the meeting, companies have posted numbers that for the most part are strongly positive and appear to be leaving the bad old days of the COVID-19 pandemic behind.

Agfa – Between Agfa’s two imaging divisions, healthcare IT continues to outperform the radiology solutions business. Healthcare IT saw growth in revenue (3.3% to $67M) and EBITDA (44.3% to $6.4M), but revenue declined at radiology solutions (-5.7% to $127M) as did EBITDA (-21% to $10M). 

Canon – Canon Medical Systems saw firm revenues in Japan and Europe, which propelled the business unit to higher revenues (5% to $913M) while income before taxes edged up (0.3% to $46M). 

Fujifilm – Revenues tapered off slightly in Fujifilm’s healthcare business at constant currency rates (-1.9% to $1.66B) as a 12.4% decline in its contract manufacturing business offset 1.7% growth in medical systems. Operating income in healthcare slipped due to a one-time benefit in the year-ago quarter (-6.5% to $217M).

GE HealthCare – Revenue growth in its molecular imaging and CT businesses helped propel GE HealthCare’s revenue growth (5.4% to $4.82B), assisted by 13% growth in pharmaceutical diagnostics and a 9% increase in patient care solutions. Net income was lower (-23% to $375M). 

Guerbet – Strong revenues for the third quarter in Asia (+15%) and stability in the EMEA region (0.6%) helped counter a decline in the Americas (-5.2%), enabling Guerbet to turn in overall quarterly revenue growth at constant exchange rates (2.3% to $212M). The company expects sales of its Elucirem MRI contrast agent to ramp up in the fourth quarter. 

Hologic – The semiconductor shortage that had impacted Hologic in previous quarters eased, leading to a sharp jump in revenues in the company’s breast health business (27% to $353M). The rebound didn’t extend to Hologic’s overall net income as its net margin narrowed (-24% to $91M). 

Konica Minolta – A decline in sales of X-ray systems to hospitals in its core market of Japan and a slower US hospital market produced lower revenues in Konica Minolta’s healthcare division (-5% to $238M), and the business posted an operating loss (-$5.5M).

Philips – Philips rebounded in the most recent quarter, with revenues in its diagnosis and treatment division rising sharply after currency conversion thanks to double-digit growth in all businesses (14% to $2.39B). Operating income doubled (to $272M). 

RadNet – RadNet saw a double-digit jump in revenues (15% to $402M) while net income leaped ($17.5M vs. $668k). Revenue jumped 221% in the company’s AI segment, which made progress narrowing its EBITDA loss (-$2.5M vs. -$4.5M) on higher consumer adoption of its Enhanced Breast Cancer Detection offering.  

Siemens Healthineers – Siemens Healthineers closed its financial year with “outstanding” 8.3% revenue growth at constant exchange rates, including double-digit growth in its imaging business (11% to $3.62B) while adjusted EBIT edged up (2% to $812M). Its Varian radiation therapy business saw a strong recovery in revenue (30% to $1.1B) and adjusted EBIT (90% to $207M).

Varex – Growth in Varex’s industrial X-ray imaging business propelled the company to higher overall revenues even as revenues in its medical business fell (-9.8% to $164M). The medical division’s gross profit also slipped (-7% to $53M).

The Takeaway

Not every company was a winner in this last round of quarterly earnings, but at least the macroeconomic headwinds of the COVID-19 pandemic are fading. The fourth calendar quarter is typically radiology’s strongest period due to the impact of the RSNA conference on equipment purchasing, so let’s hope the momentum continues.

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