RadNet, Inc. (RDNT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Radnet, Inc. (RDNT), una compañía pionera de imágenes médicas que revoluciona la atención médica diagnóstica a través de un modelo de negocio sofisticado. Al combinar a la perfección la tecnología de vanguardia, las ofertas de servicios integrales y las asociaciones estratégicas, Radnet se ha posicionado como un jugador crítico en el ecosistema de atención médica moderna. Su enfoque innovador transforma los diagnósticos médicos complejos en soluciones accesibles, eficientes y centradas en el paciente que unen la brecha entre la tecnología médica avanzada y la prestación de atención médica personalizada.

Radnet, Inc. (RDNT) - Modelo de negocio: asociaciones clave

Fabricantes de equipos médicos

Radnet se asocia con los principales fabricantes de equipos de imágenes médicas para mantener su infraestructura de diagnóstico de imágenes.

Fabricante	Tipo de equipo	Valor de contrato anual estimado
Saludos de Siemens	Escáneres de resonancia magnética y tomografía computarizada	$ 12.4 millones
GE Healthcare	Equipos de rayos X y ultrasonido	$ 9.7 millones
Philips Healthcare	Sistemas de mamografía	$ 6.3 millones

Proveedores de tecnología de la salud

Radnet colabora con compañías avanzadas de tecnología de salud para mejorar las capacidades de diagnóstico.

• Asociaciones de plataforma de diagnóstico de inteligencia artificial
• Soluciones de almacenamiento de imágenes médicas basadas en la nube
• Proveedores de tecnología de teleradiología

Proveedor de tecnología	Enfoque tecnológico	Valor de asociación
Viz.ai	Algoritmos de diagnóstico de IA	$ 3.2 millones anualmente
Comunicaciones Nuance	Informes y reconocimiento de voz	$ 2.8 millones anuales

Compañías de seguros

Radnet mantiene asociaciones estratégicas con los principales proveedores de seguros para garantizar una cobertura de diagnóstico integral.

Proveedor de seguros	Tipo de contrato	Ingresos anuales estimados
UnitedHealthcare	Proveedor de red	$ 47.6 millones
Himno cruzado	Red de diagnóstico preferida	$ 39.2 millones
Cigna	Servicios de imágenes integrales	$ 35.9 millones

Redes hospitalarias

Radnet establece relaciones colaborativas con sistemas hospitalarios regionales y nacionales.

• Asociaciones de referencia de imágenes ambulatorias
• Acuerdos de servicio de diagnóstico
• Coordinación de atención integrada

Empresas de gestión de práctica de radiología

Radnet se asocia con organizaciones especializadas de gestión de radiología para optimizar la eficiencia operativa.

Firma de gestión	Alcance del servicio	Valor de contrato
Soluciones de radiología de Mednax	Personal de radiólogo y gestión	$ 5.6 millones anuales
Socios de radiología	Consultoría operacional	$ 4.3 millones anuales

Radnet, Inc. (RDNT) - Modelo de negocio: actividades clave

Diagnóstico de imágenes médicas

Radnet opera 361 centros de imágenes ambulatorias en 10 estados a partir de 2023. La compañía realiza aproximadamente 7.2 millones de procedimientos de imagen anualmente.

Modalidad de imagen	Procedimientos anuales	Contribución de ingresos
Resonancia magnética	1,440,000	38.5%
Escaneo	1,800,000	32.7%
Ultrasonido	1,080,000	15.3%
Radiografía	1,800,000	13.5%

Servicios de radiología ambulatoria

Radnet generó $ 1.48 mil millones en ingresos totales para el año fiscal 2023, con servicios ambulatorios que representan el 92% de los ingresos totales.

Gestión de registros médicos digitales

• Administra más de 21 millones de imágenes médicas digitales anualmente
• Utiliza PAC basado en la nube (sistema de archivo y comunicación de imágenes)
• Admite la interoperabilidad con el 98% de los sistemas de registros de salud electrónicos

Mantenimiento de equipos de diagnóstico

Radnet mantiene una flota de 1.200 dispositivos de imágenes médicas avanzadas en su red.

Tipo de equipo	Unidades totales	Ciclo de reemplazo promedio
Máquinas de resonancia magnética	280	7-10 años
Escáneres CT	350	5-7 años
Máquinas de ultrasonido	570	4-6 años

Soluciones de teleradiología

Radnet procesa aproximadamente 3.6 millones de interpretaciones de diagnóstico remoto por año, con una red de 450 radiólogos que proporcionan cobertura las 24 horas, los 7 días de la semana.

• Tiempo de respuesta promedio para interpretaciones remotas: 45 minutos
• Apoyo a los servicios internacionales de teleradiología en 12 países
• Infraestructura de transmisión digital compatible con HIPAA

Radnet, Inc. (RDNT) - Modelo de negocio: recursos clave

Equipo avanzado de imágenes médicas

A partir de 2024, Radnet opera 354 centros de imágenes ambulatorias con el siguiente inventario de equipos:

Tipo de equipo	Unidades totales	Costo promedio por unidad
Máquinas de resonancia magnética	118	$ 1.2- $ 3 millones
Escáneres CT	203	$ 500,000- $ 1.5 millones
Máquinas de rayos X	276	$50,000-$250,000
Unidades de mamografía	87	$250,000-$600,000

Experiencia radiológica y personal profesional

Radnet emplea:

• 672 radiólogos
• 1.243 tecnólogos
• 456 profesionales de la salud administrativa

Centros de diagnóstico centralizados

Distribución geográfica de centros de diagnóstico:

Región	Número de centros	Cuota de mercado
California	186	52%
Nueva Jersey	54	15%
Nueva York	38	11%
Otros estados	76	22%

Plataformas de infraestructura y tecnología digitales

Inversiones de infraestructura tecnológica:

• Gasto anual de TI: $ 24.3 millones
• Implementación de PAC (archivo de archivo y comunicación de imágenes) en todos los centros
• Sistema de informes de diagnóstico basado en la nube

Strong Regional Healthcare Network Presence

Métricas de cobertura de red:

Métrico de red	Valor 2024
Asociaciones totales de atención médica	287
Volumen anual de paciente	3.6 millones
Contratos de red de seguros	42 proveedores principales

Radnet, Inc. (RDNT) - Modelo de negocio: propuestas de valor

Servicios de diagnóstico de diagnóstico integrales

Radnet opera 353 centros de imágenes ambulatorios en los Estados Unidos a partir de 2023. La compañía proporciona modalidades de diagnóstico múltiple incluido:

Modalidad de imagen	Volumen anual (estimado)
MRI escaneos	2.1 millones
Escaneos de tomografía computarizada	1.8 millones
Mamografía	620,000
Ultrasonido	750,000

Resultados de imágenes médicas precisas de alta calidad

Radnet mantiene un 99.2% de tasa de precisión para interpretaciones de diagnóstico de imágenes. La compañía emplea a más de 1.200 radiólogos certificados por la junta.

Soluciones de salud convenientes y accesibles

• Cobertura de red en 10 estados
• Tiempo de espera promedio del paciente: 24-48 horas para programar
• Horas de operación extendidas (7 am-8pm)
• Programación en línea y acceso a registros médicos digitales

Procedimientos de diagnóstico rentables

Costo promedio por procedimiento de imagen en comparación con la configuración del hospital:

Procedimiento	Costo de Radnet	Costo hospitalario	Porcentaje de ahorro
Resonancia magnética	$625	$1,430	56.3%
Escaneo	$385	$890	56.7%

Tiempos de respuesta rápidos para informes médicos

Radnet proporciona entrega de informes digitales dentro de las 24-48 horas Para la mayoría de los estudios de imágenes. La integración de registros médicos electrónicos respalda la comunicación rápida con los médicos de referencia.

Radnet, Inc. (RDNT) - Modelo de negocio: relaciones con los clientes

Interacciones directas del paciente

Radnet opera 361 centros de imágenes ambulatorias en los Estados Unidos a partir de 2023. La compañía atiende a aproximadamente 2.9 millones de pacientes anualmente a través de servicios de imágenes directas.

Métrica de interacción del paciente	2023 datos
Centros para pacientes ambulatorios totales	361
Volumen anual de paciente	2.9 millones
Tiempo promedio de interacción del paciente	45 minutos

Redes de referencia médica

Radnet mantiene relaciones con más de 25,000 médicos de referencia en su red. La red de referencia de la Compañía genera aproximadamente el 78% de su volumen de pacientes.

• Médicos de referencia total: más de 25,000
• Volumen del paciente generado por referencias: 78%
• Valor de referencia promedio por médico: $ 127,500 anualmente

Programación en línea y portales de pacientes

La plataforma digital de Radnet procesa aproximadamente el 42% de las citas de los pacientes a través de la programación en línea. El portal del paciente maneja 1,2 millones de interacciones digitales mensualmente.

Métrica de interacción digital	2023 datos
Programación de citas en línea	42%
Interacciones digitales mensuales	1.2 millones
Tasa de adopción del portal del paciente	67%

Servicios de atención al cliente

Radnet opera un centro de atención al cliente centralizado que administra 95,000 interacciones de clientes mensualmente. El tiempo de resolución promedio es de 22 minutos por investigación.

• Interacciones mensuales del cliente: 95,000
• Tiempo de resolución promedio: 22 minutos
• Tasa de satisfacción del cliente: 89%

Consultas de diagnóstico personalizadas

Radnet ofrece consultas de diagnóstico especializadas en 23 especialidades diferentes de imágenes médicas. La compañía genera aproximadamente $ 87.4 millones anuales a partir de servicios de consulta especializados.

Métrico de consulta	2023 datos
Especialidades de imágenes médicas	23
Ingresos de consulta anual	$ 87.4 millones
Valor de consulta promedio	$1,275

Radnet, Inc. (RDNT) - Modelo de negocio: canales

Centros de imágenes de diagnóstico físico

Radnet opera 358 centros de imágenes ambulatorias en 11 estados a partir de 2023. Las ubicaciones de imágenes de diagnóstico total generan $ 1.47 mil millones en ingresos anuales.

Cobertura estatal	Número de centros	Ingresos anuales por centro
California	198	$ 4.1 millones
Nueva Jersey	45	$ 3.7 millones
Otros estados	115	$ 3.2 millones

Plataformas de reserva de citas en línea

La plataforma de programación digital atiende a aproximadamente 2,3 millones de citas de pacientes anualmente.

• Penetración de reservas en línea: 67% de la programación total de pacientes
• Tiempo promedio de reserva en línea: 3.5 minutos por paciente
• Tasa de reserva móvil: 42% de las citas digitales

Consultas de telemedicina

Radnet lanzó Servicios de Telemedicina con 87,000 consultas virtuales en 2023, lo que representa el 12% del total de interacciones del paciente.

Sistemas de referencia de proveedores de atención médica

Fuente de referencia	Porcentaje	Referencias anuales
Médicos de atención primaria	48%	276,000
Médicos especializados	35%	201,500
Redes hospitalarias	17%	97,500

Aplicaciones de salud digital móvil

Aplicación móvil con 215,000 usuarios activos, admitiendo la participación del paciente y el seguimiento de los resultados.

• Tasa de descarga de la aplicación: 37,500 por trimestre
• Tasa de retención de usuarios: 62%
• Acceso al informe digital: 89% de los usuarios de aplicaciones móviles

Radnet, Inc. (RDNT) - Modelo de negocio: segmentos de clientes

Proveedores de atención médica

Radnet atiende a aproximadamente 2.300 radiólogos y proveedores de atención médica en los Estados Unidos a partir de 2023.

Tipo de proveedor	Número de proveedores atendidos	Volumen de imágenes anual
Radiólogos	1,450	8,2 millones de estudios por año
Clínicas independientes	650	3.5 millones de estudios por año
Prácticas de especialidades múltiples	200	1,7 millones de estudios por año

Pacientes individuales

Radnet atiende a aproximadamente 3.1 millones de pacientes únicos anualmente en su red de 360 ​​centros de imágenes.

• Rango promedio de edad del paciente: 35-65 años
• Demografía del paciente: 58% mujeres, 42% hombres
• Servicios de imágenes primarias: MRI, CT, rayos X, mamografía

Compañías de seguros

Radnet tiene contratos con más de 500 proveedores de seguros, incluidas las principales redes de salud nacionales y regionales.

Categoría de seguro	Número de contratos	Volumen de reembolso anual
Aseguradoras nacionales	75	$ 620 millones
Aseguradoras regionales	325	$ 280 millones
Medicare/Medicaid	100	$ 210 millones

Hospitales y centros médicos

Radnet se asocia con 215 hospitales y centros médicos en 6 estados.

• Tipos de asociación: imágenes ambulatorias, servicios de diagnóstico
• Estudios de imágenes anuales promedio por hospital: 45,000
• Volumen total de imágenes para asociaciones hospitalarias: 9.7 millones de estudios

Programas de detección de salud del empleador

Radnet proporciona servicios de imágenes a programas de detección de salud corporativa para aproximadamente 450 empleadores.

Segmento del empleador	Número de empleadores	Seculaciones de salud anuales
Grandes corporaciones	85	120,000 proyecciones
Empresas de tamaño mediano	225	85,000 proyecciones
Pequeñas empresas	140	45,000 proyecciones

Radnet, Inc. (RDNT) - Modelo de negocio: Estructura de costos

Inversiones de equipos médicos

A partir de 2023 informes financieros, las inversiones de equipos médicos de Radnet totalizaron aproximadamente $ 295.7 millones. Los gastos de capital de la compañía para el desglose de los equipos de diagnóstico de imágenes de la siguiente manera:

Tipo de equipo	Monto de la inversión
Máquinas de resonancia magnética	$ 87.3 millones
Escáneres CT	$ 62.5 millones
Equipo de rayos X	$ 45.2 millones
Sistemas de mamografía	$ 37.6 millones

Salarios de radiólogo profesional

La compensación total de radiólogo de Radnet para 2023 fue de $ 178.4 millones, con un salario anual promedio de $ 342,000 por radiólogo.

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica para 2023 fueron de $ 56.2 millones, que incluyen:

• PACS (Sistema de archivo y comunicación PACS) Mantenimiento: $ 22.7 millones
• Infraestructura de red y ciberseguridad: $ 18.5 millones
• Licencias de software y actualizaciones: $ 15 millones

Gastos operativos de la instalación

Los gastos operativos de la instalación para 2023 totalizaron $ 214.6 millones, distribuidos de la siguiente manera:

Categoría de gastos	Cantidad
Alquiler y servicios públicos	$ 89.3 millones
Mantenimiento y reparaciones	$ 62.5 millones
Seguro	$ 37.8 millones
Limpieza y saneamiento	$ 25 millones

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2023 fueron de $ 42.3 millones, que incluyen:

• Cumplimiento de HIPAA: $ 18.7 millones
• Requisitos reglamentarios de la FDA: $ 15.6 millones
• Programas de garantía de calidad: $ 8 millones

Radnet, Inc. (RDNT) - Modelo de negocio: flujos de ingresos

Tarifas de servicio de diagnóstico de imágenes

Radnet reportó ingresos totales de $ 1,463.5 millones para el año fiscal 2023. Los servicios de diagnóstico de imágenes constituyen una fuente de ingresos primario, con el siguiente desglose:

Tipo de servicio de imágenes	Contribución anual de ingresos
MRI escaneos	$ 412.3 millones
Escaneos de tomografía computarizada	$ 356.7 millones
Servicios de ultrasonido	$ 278.5 millones
Servicios de rayos X	$ 215.9 millones

Reembolsos de seguros

Los reembolsos de seguros representan un flujo de ingresos significativo para Radnet:

• Reembolsos de seguro privado: $ 687.2 millones
• Reembolsos de Medicare: $ 342.6 millones
• Reembolsos de Medicaid: $ 218.9 millones

Cargos de servicio de teleradiología

Los servicios de teleradiología generaron aproximadamente $ 94.5 millones en ingresos para 2023, que representa un segmento creciente del modelo de negocio de Radnet.

Generación de informes médicos

La generación de informes médicos y los servicios de interpretación profesional contribuyeron con $ 67.3 millones a los ingresos anuales de la Compañía.

Contratos de arrendamiento y mantenimiento de equipos

Tipo de contrato	Ingresos anuales
Arrendamiento de equipos	$ 52.7 millones
Contratos de mantenimiento	$ 38.4 millones

RadNet, Inc. (RDNT) - Canvas Business Model: Value Propositions

You're looking at how RadNet, Inc. (RDNT) delivers distinct value in the crowded diagnostic imaging space. It's not just about volume; it's about proving better outcomes at a better price point than the hospital down the street. Honestly, their value proposition is built on a few very concrete, data-backed pillars.

Cost-Effective Care: Outpatient setting offers lower costs than traditional hospital imaging.

The fundamental value here is shifting procedures out of the higher-cost hospital environment and into RadNet, Inc.'s outpatient centers. This translates directly to lower costs for the system and, ultimately, for the patient. You see this commitment reflected in the volume shifts. In the third quarter of 2025, aggregate advanced imaging volume, which includes MRI, CT, and PET/CT, increased by 13.0% year-over-year, showing patients are choosing this setting. For the full year 2025, the Imaging Center segment revenue guidance was up to $1.93 billion.

Clinical Excellence: AI-powered diagnostics that show a 21.6% higher breast cancer detection rate.

This is where the DeepHealth subsidiary really moves the needle. The AI-Supported Safeguard Review Evaluation (ASSURE) study, which looked at over 579,000 women across 109 sites, provided the proof you need. The AI-powered workflow increased the cancer detection rate by 21.6% over standard 3D mammography. Plus, they managed to keep recall rates consistent while increasing the positive predictive value by 15%. For a specific, high-risk group, the detection rate boost was even higher.

Here's a quick look at the clinical impact data from the ASSURE study:

Metric	Improvement with AI Workflow
Overall Cancer Detection Rate Increase	21.6%
Positive Predictive Value Increase	15%
Cancer Detection Rate Increase (Dense Breasts)	22.7%

The DeepHealth Breast Suite itself supports over 10 million mammograms annually.

Convenience and Access: Online scheduling, extended hours, and a large geographic footprint.

RadNet, Inc. is the largest provider of freestanding, fixed-site diagnostic imaging services in the U.S. by location count. As of early 2025, they operated 401 outpatient imaging centers. They are concentrated in 8 core states: Arizona, California, Delaware, Florida, Maryland, New Jersey, New York, and Texas. They are actively expanding this access, with 13 new de novo center projects in the pipeline for 2025. A key part of their access strategy involves partnerships; about 38% (or 152/398 centers as of early 2025) are held through Joint Venture (JV) deals, with a target to climb to 50%.

Operational Efficiency: DeepHealth OS streamlines workflow for radiologists and staff.

The DeepHealth OS is the engine unifying clinical and operational intelligence. This is where you see the impact on labor and throughput. For instance, the TechLive remote scanning capability, deployed across 33 MR systems in their New York area facilities since February 2025, resulted in 42% fewer MR room closures. This directly drives higher throughput. Furthermore, in their Thyroid Suite deployment across over 200 RadNet sites, radiologists accepted AI-based measurements without correction in greater than 94% of the cases reviewed. The Digital Health segment, which houses this technology, is showing strong financial results, posting revenue of $19.2 million in Q1 2025 (a 31.1% increase year-over-year), and even higher revenue of $24.8 million in Q3 2025 (a 51.6% jump year-over-year).

Value-Based Alignment: AI tools support proactive, preventative screening programs for payors.

The focus on superior detection and efficiency directly aligns with payor goals for value-based care, which emphasizes outcomes over volume. The EBCD program, which uses the AI workflow, is offered to patients for an extra charge of $40 to have the AI read over mammograms. By catching cancer earlier, as demonstrated by the 21.6% detection rate increase, RadNet, Inc. supports the core tenet of value-based care: better patient outcomes at a lower systemic cost. The company's strong cash balance of $804.7 million as of September 30, 2025, and a Net Debt to Adjusted EBITDA ratio of approximately 1.0x, gives them the flexibility to aggressively pursue these value-driving partnerships.

Finance: draft 13-week cash view by Friday.

RadNet, Inc. (RDNT) - Canvas Business Model: Customer Relationships

High-touch patient service: Focus on convenience and a positive experience at the center.

The focus on patient experience is supported by operational improvements like the TechLive remote scanning solution, which drove 42% fewer MR room closures in a New York pilot. In the first quarter of 2025, RadNet, Inc. posted a total procedure volume of 2,742,973 exams. For that same quarter, Mammography volume totaled 476,378 procedures. Advanced imaging mix grew to 28.2% of all procedures in the third quarter of 2025, up from 26.7% in the third quarter of 2024.

Dedicated account management: For large payors and hospital Joint Venture partners.

As of December 31, 2024, 38% or 152/398 of RadNet, Inc.'s imaging centers were held through Joint Venture (JV) deals, with a goal to climb to 50%. RadNet, Inc. plans to continue expanding through additional JVs, particularly with hospital systems. Capitation payments represented 6.1% of the payor mix in the second quarter of 2025, a figure management noted was intentionally trending down as contracts convert to higher-priced fee-for-service arrangements.

Referral-based: Strong relationships with referring physicians for consistent volume.

The structure of Joint Ventures often includes an agreement to ask hospital partners to use their influence and relationships with community-based physicians to drive referrals into the jointly owned facilities. RadNet, Inc. is the largest operator of freestanding, fixed-site outpatient diagnostic imaging service centers in the United States, based on number of centers and revenue.

B2B sales and support: Direct sales of DeepHealth software to external health systems.

RadNet, Inc.'s Digital Health segment revenue for the third quarter of 2025 was $24.8 million. For the first nine months of 2025, Digital Health Revenue reached $64.8 million. The DeepHealth Thyroid AI demonstrated up to a 30% reduction in scan slot time during initial deployment at RadNet outpatient imaging centers. Deployment of DeepHealth solutions across more than 200 sites within RadNet showed that radiologists accepted AI-based measurements and characterization without correction in greater than 94% of cases involving more than 4,070 nodules.

Digital self-service: Online portals for patient scheduling and report access.

Patient portals allow users to schedule appointments online and access radiology reports and images. The DeepHealth Operations Suite introduces new Patient Engagement solutions designed to improve communication and scheduling.

Here's a quick look at some operational metrics supporting these customer-facing activities:

Metric Category	Specific Data Point	Value/Amount	Period/Context
Center Footprint	Total Centers Operated (Direct/JV)	398	As of December 31, 2024
Center Footprint	New Centers Targeted for 2H25	9 more targeted for 2H25 (following 1 opened in Q2 2025)	2025
Digital Health Growth	Digital Health Revenue	$24.8 million	Q3 2025
Digital Health Growth	Digital Health Revenue	$64.8 million	First Nine Months of 2025
Patient Experience Tech	Reduction in MR Room Closures with TechLive	42% fewer	NY Pilot
AI Adoption/Efficiency	Acceptance Rate of AI Measurements (Uncorrected)	Greater than 94%	Deployment across >200 RadNet sites

RadNet, Inc. (RDNT) - Canvas Business Model: Channels

The channels RadNet, Inc. uses to reach its customers are a blend of traditional high-volume physical presence and rapidly scaling digital health distribution.

Physical Imaging Centers: This remains the bedrock, with RadNet, Inc. operating as the largest provider of freestanding, fixed-site outpatient diagnostic imaging in the United States based on locations and annual imaging revenue. As of September 30, 2025, the company owned and/or operated 407 imaging centers across its core markets: Arizona, California, Delaware, Florida, Maryland, New Jersey, New York, and Texas. A significant portion of this physical footprint is built through partnerships; about 38%, or 152/398 centers as of early 2025, were held through Joint Venture (JV) deals, with management seeing this climbing to 50% as a major growth engine. The company completed nine new centers in 2024 and had 13 projects in the pipeline for 2025.

Referring Physician Network: This traditional channel drives patient flow into the fixed-site centers. The business model benefits from a continuing shift of procedures from hospitals to ambulatory sites of care. The company is the largest outpatient imaging provider in almost all of its operating markets, which helps bolster negotiating power with health insurers.

DeepHealth Digital Sales: This represents the direct B2B sales channel for its Artificial Intelligence (AI) software solutions, marketed under the DeepHealth brand. The Digital Health segment is a key growth driver, reporting revenue of $24.8 million in the third quarter of 2025, a year-over-year increase of 51.6%. Specifically, AI revenue within this segment grew by 112% in Q3 2025. DeepHealth's expanded portfolio is deployed across RadNet, Inc.'s 407 imaging centers and other customer sites worldwide, with more than 5,000 radiologists leveraging its solutions.

Teleradiology Services: RadNet, Inc. provides teleradiology professional services to customers in the diagnostic imaging industry. The company also made strategic moves, such as the acquisition of CIMAR UK, indicating an international component to its service delivery, though specific revenue for the UK-based HLH Imaging Group is not detailed. The TechLive solution, part of the DeepHealth portfolio, acts as a multimodality, vendor-agnostic remote imaging and radiology management solution, connecting more than 400+ scanners.

Online/Mobile Platforms: Digital engagement is facilitated through platforms like the Operations Suite, a cloud-first platform unifying scheduling, billing, analytics, and patient communication, using agentic AI to reduce administrative burden. The company also uses technology like See-Mode's thyroid ultrasound technology, which was implemented across 240+ centers, noting a 30% reduction in scan time.

Here's a quick look at the financial scale of the primary revenue channels for the third quarter of 2025:

Channel/Segment	Q3 2025 Revenue Amount	Key Metric/Growth
Total Company Revenue	$522.9 million	Up 13.4% year-over-year
Digital Health Segment Revenue	$24.8 million	Up 51.6% year-over-year
Imaging Center Revenue (Implied)	Approximately $498.1 million	Aggregate advanced imaging procedural volumes up 13.0%
AI Revenue (Within Digital Health)	Not specified as standalone	Grew 112% year-over-year

The company's robust cash balance of $804.7 million as of September 30, 2025, and a Net Debt to Adjusted EBITDA ratio of approximately 1.0x, supports the continued investment in and expansion of these diverse channels.

The deployment of AI tools shows direct channel impact:

• DeepHealth Breast Suite supports over 10 million mammograms annually.
• TechLive deployment at 64 New York area locations resulted in a 27% increase in advanced breast MRI since February 2025.
• Thyroid Suite deployment across more than 200 sites showed radiologists accepting AI-based measurements without correction in greater than 94% of cases.

Finance: review the capital allocation plan for the 13 centers currently in the 2025 construction pipeline by end of Q4.'

RadNet, Inc. (RDNT) - Canvas Business Model: Customer Segments

You're looking at the core groups that drive the revenue engine for RadNet, Inc. as of late 2025. It's a mix of direct service recipients and strategic partners, all essential to their scale.

Here's a quick look at the operational footprint that serves these segments:

Metric	Value (as of late 2025)	Context
Total Imaging Centers in Operation	407	As of September 30, 2025
Total Procedures (Q1 2025)	2,742,973	Includes wholly owned and joint venture centers
Digital Health Segment Revenue (Q3 2025)	$35,263,000	Quarterly revenue
AI Revenue Growth (YoY Q3 2025)	112%	Growth within the Digital Health segment

The customer base is diverse, spanning from the individual patient to large institutional partners.

Patients:

These are the individuals needing routine and advanced diagnostic imaging services. The sheer volume of exams points to the scale of this segment. For instance, in the first quarter of 2025, the total procedure volume across all centers reached 2,742,973 procedures. Advanced imaging procedures are a growing focus, with aggregate MRI volume up 14.8% and PET/CT volume up 21.1% in Q3 2025 compared to the prior year.

• MRI procedures in Q1 2025: 447,330
• CT procedures in Q1 2025: 271,170
• Mammography procedures in Q1 2025: 476,378

Managed Care Payors:

Insurance companies and capitated arrangements form a critical revenue stream. RadNet, Inc. has specific data showing how their service fees break down by payor class, which helps you see where the reimbursement leverage lies. This group is definitely key to their top line.

The payor mix from the first quarter of 2024, which gives us a baseline, shows the dominance of commercial payors:

Payor Class	Percentage of Revenue (Q1 2024)
Commercial Insurance	58.4%
Medicare	21.7%
Capitation	8.0%
Medicaid	2.5%
Workers Compensation/Personal Injury	2.7%
Other	6.7%

Management noted in Q2 2025 that growth was driven partly by improved reimbursement from commercial and capitated payors.

Referring Physicians:

While direct financial numbers for this segment aren't explicitly broken out like payors, their activity drives the patient volume. The company's strategy involves maintaining strong relationships with community-based physicians to drive referrals into their facilities. The overall growth in advanced imaging volumes-like the 13.0% aggregate increase in Q3 2025-is a direct reflection of their ordering patterns.

Hospital Systems/ACOs:

These partners are crucial for capital-light expansion through Joint Ventures (JVs). As of early 2025, about 38%, or 152 out of 398 centers, were held through JV deals, with a stated goal to climb to 50%. RadNet, Inc. accounts for its investment in these JVs under the equity method. The strategy is to partner with health systems that are losing outpatient business to ambulatory sites, allowing them to participate as partners.

External Radiology Groups:

This segment buys the DeepHealth AI and informatics software. The scale here is significant, with the portfolio deployed across RadNet's 407 centers and other customer sites globally.

• Over 5,000 radiologists are leveraging DeepHealth solutions.
• The DeepHealth Breast Suite supports over 10 million mammograms annually.
• The TechLive remote scanning solution connects over 400+ scanners.
• Wichita Radiological Group selected the Operations Suite™ to replace its legacy Radiology Information System.

The AI revenue within the Digital Health segment grew 112% year-over-year in Q3 2025. Finance: draft 13-week cash view by Friday.

RadNet, Inc. (RDNT) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep RadNet, Inc. running its massive network of outpatient imaging centers and its growing digital health arm. Honestly, for a company this size, the fixed costs are substantial, which is why they focus so hard on volume growth and contracting power.

Capital Expenditure: High cost of acquiring and maintaining advanced imaging equipment.

The investment in advanced imaging equipment-MRI, CT, PET/CT-is a major ongoing drain, even if the purchase itself is capitalized. RadNet, Inc. raised its full-year 2025 Capital Expenditures guidance by $7,000,000 after the second quarter, reflecting additional growth investments planned for the second half of the year. The revised guidance range for 2025 Capital Expenditures (net of proceeds from sales) is between $145 million and $155 million. Depreciation and amortization, which captures the cost of this equipment over time, was $111,275 thousand for the first nine months of 2025. That's a big number that eats into operating cash flow before you even look at interest payments.

Personnel Costs: Salaries and benefits for radiologists, technologists, and support staff.

Personnel is definitely one of the principal components of RadNet, Inc.'s expenses, alongside debt service and real estate lease expenses. While the exact 2025 dollar amount for total salaries and benefits isn't explicitly broken out in the latest reports, the company noted in early 2025 that it would focus on implementing digital health solutions to drive automation and efficiencies in labor utilization in 2025. This suggests managing headcount and labor cost inflation is a key focus area.

Real Estate/Leasing: Operating costs for over 400 physical center locations.

Operating over 407 centers as of September 30, 2025, the real estate footprint is massive. While total operating lease costs aren't itemized, related charges give you a sense of the burden. For the first nine months of 2025, Lease abandonment charges totaled $8,330 thousand. Also, Non-operational rent expenses for the same nine-month period were $2,459 thousand. You have to remember that they are constantly evaluating these property leases to reduce expenses.

Technology R&D: Ongoing investment in the DeepHealth platform and AI development.

Investment in technology, particularly the DeepHealth platform and AI solutions, is a distinct cost center. For the first nine months of 2025, Non-Capitalized R&D expenses related to the DeepHealth Cloud OS & Generative AI were $13,835 thousand. This is a forward-looking investment, as AI revenue within the Digital Health segment grew 112% year-over-year in Q3 2025.

Acquisition Costs: Expenses related to tuck-in acquisitions and new JV formation.

Growth through acquisition is a stated strategy, and that comes with upfront costs. For the first nine months of 2025, Acquisition transaction costs totaled $5,109 thousand. Just in the third quarter of 2025, these costs were $2,136 thousand. The company is actively pursuing expansion, so you should expect these transaction-related expenses to be a recurring line item.

Here's a quick look at the key cost components for the first nine months of 2025, in thousands of U.S. Dollars, where data is available:

Cost Component	Period Ending September 30, 2025 (9 Months)
Depreciation and Amortization	$111,275
Non-Capitalized R&D - DeepHealth Cloud OS & Generative AI	$13,835
Lease Abandonment Charges	$8,330
Acquisition Transaction Costs	$5,109
Non-operational Rent Expenses	$2,459

The company operates approximately 37% (or 149 centers) through hospital joint ventures out of its total 398 centers as of the end of 2024, with plans to climb toward 50%.

RadNet, Inc. (RDNT) - Canvas Business Model: Revenue Streams

The revenue streams for RadNet, Inc. (RDNT) are fundamentally split between its core imaging center operations and its growing Digital Health segment.

Imaging Center Services: This is the primary revenue driver, stemming from patient procedures across its network. Management has provided an updated full-year 2025 guidance for Imaging Center segment total net revenue in the range of $1.900 billion to $1.930 billion. This growth is supported by strong procedure utilization; for the third quarter of 2025, aggregate advanced imaging (MRI, CT, and PET/CT) procedural volumes increased 13.0% compared to the third quarter of 2024. On a same-center basis, these advanced volumes grew 9.9% in the same period. The business mix continues to shift favorably, with advanced imaging accounting for 28.2% of all procedures in the third quarter of 2025, up from 26.7% in the third quarter of 2024.

Digital Health Segment: Revenue from the Digital Health segment, which includes DeepHealth AI software and informatics, is guided for the full year 2025 to be between $85 million and $95 million, an upward revision from previous guidance. For the nine months ended September 30, 2025, this segment generated $64.8 million in revenue. The third quarter of 2025 alone saw Digital Health Revenue of $24.8 million, representing a 51.6% increase year-over-year, partially due to the July 17, 2025, acquisition of iCAD, Inc.

Fee-for-Service: This revenue component is the mechanism through which the Imaging Center services are paid. Payments are collected from a diverse set of sources, including commercial payors, government programs like Medicare and Medicaid, and direct payments from patients. The company's focus on operational efficiency is evident in its Days Sales Outstanding (DSO), which was reduced to 31.9 days as of September 30, 2025, the lowest historical level.

Joint Venture Income: A significant portion of the Imaging Center footprint is structured through partnerships. As of the second quarter of 2025, RadNet, Inc. operated 405 outpatient imaging centers in total, with 38% of these operating as joint ventures with hospital and health systems. The equity earnings from these partnerships contribute to overall revenue.

Supplemental AI Fees: Revenue is also generated from value-added AI programs that go beyond basic workflow integration. For instance, revenue from the Enhanced Breast Cancer Detection (EBCD) AI program showed strong growth, rising 28.7% year-over-year in the third quarter of 2025. The DeepHealth Breast Suite, which integrates iCAD technologies, is now positioned to support over 10 million mammograms annually.

Here's a quick math look at the key 2025 guidance and recent performance metrics for the revenue streams:

Revenue Stream Component	2025 Full-Year Guidance (Latest)	Q3 2025 Actual Revenue	Key Metric/Context
Imaging Center Services (Total Net Revenue)	$1.900 billion to $1.930 billion	$522.9 million (Total Company Revenue)	Aggregate Advanced Imaging Volume Growth: 13.0% (Q3 YoY)
Digital Health Segment (Total Net Revenue)	$85 million to $95 million	$24.8 million	Nine Months 2025 Revenue: $64.8 million
AI Revenue Growth (EBCD Context)	Not explicitly guided	N/A	EBCD AI Revenue Growth: 28.7% (Q3 YoY)
JV Center Footprint	N/A	N/A	38% of 405 centers operate as Joint Ventures (Q2 2025)

The fee-for-service component is directly tied to the volume and reimbursement rates. You should note the company's strong cash position as of September 30, 2025, with a cash balance of $804.7 million, which supports continued investment in these revenue-generating assets.

• Imaging Center Revenue Growth Drivers: Advanced imaging mix at 28.2% of volume.
• Digital Health Growth Driver: iCAD acquisition completed July 17, 2025.
• Fee-for-Service Efficiency: DSO at 31.9 days.
• JV Structure: 405 centers in operation as of Q2 2025.

Finance: draft 13-week cash view by Friday.