Radnet, Inc. (RDNT): Canvas du modèle commercial [Jan-2025 MISE À JOUR]

Plongez dans le monde complexe de Radnet, Inc. (RDNT), une entreprise d'imagerie médicale pionnière qui révolutionne les soins de santé diagnostiques grâce à un modèle commercial sophistiqué. En mélangeant parfaitement une technologie de pointe, des offres de services complètes et des partenariats stratégiques, Radnet s'est positionné comme un acteur critique dans l'écosystème des soins de santé moderne. Leur approche innovante transforme les diagnostics médicaux complexes en solutions accessibles, efficaces et centrées sur le patient qui comblent l'écart entre la technologie médicale avancée et la prestation de soins de santé personnalisés.

Radnet, Inc. (RDNT) - Modèle d'entreprise: partenariats clés

Fabricants d'équipements médicaux

RADNET s'associe aux principaux fabricants d'équipements d'imagerie médicale pour maintenir son infrastructure d'imagerie diagnostique.

Fabricant	Type d'équipement	Valeur du contrat annuel estimé
Siemens Healthineers	Scanners IRM et CT	12,4 millions de dollars
GE Healthcare	Rayon X et échographie	9,7 millions de dollars
Philips Healthcare	Systèmes de mammographie	6,3 millions de dollars

Fournisseurs de technologies de santé

RADNET collabore avec les entreprises de technologie de santé avancées pour améliorer les capacités de diagnostic.

• Partenariats de plate-forme de diagnostic d'intelligence artificielle
• Solutions de stockage d'imagerie médicale basée sur le cloud
• Fournisseurs de technologies de la téléradiologie

Fournisseur de technologie	Focus technologique	Valeur de partenariat
Viz.ai	Algorithmes de diagnostic d'IA	3,2 millions de dollars par an
Nuance Communications	Reportage et reconnaissance vocale	2,8 millions de dollars par an

Compagnies d'assurance

RADNET maintient des partenariats stratégiques avec les principaux assureurs pour assurer une couverture diagnostique complète.

Assureur	Type de contrat	Revenus annuels estimés
UnitedHealthcare	Fournisseur de réseau	47,6 millions de dollars
Anthem Blue Cross	Réseau de diagnostic préféré	39,2 millions de dollars
Cigna	Services d'imagerie complets	35,9 millions de dollars

Réseaux hospitaliers

RADNET établit des relations collaboratives avec les systèmes hospitaliers régionaux et nationaux.

• Partenariats de référence à l'imagerie ambulatoire
• Accords de service de diagnostic
• Coordination des soins intégrés

Sociétés de gestion des pratiques en radiologie

RADNET s'associe à des organisations de gestion de radiologie spécialisées pour optimiser l'efficacité opérationnelle.

Cabinet de gestion	Portée du service	Valeur du contrat
Solutions de radiologie Mednax	Radiologiste Staffing and Management	5,6 millions de dollars par an
Partenaires de radiologie	Conseil opérationnel	4,3 millions de dollars par an

Radnet, Inc. (RDNT) - Modèle d'entreprise: activités clés

Diagnostics d'imagerie médicale

RADNET exploite 361 centres d'imagerie ambulatoire dans 10 États à partir de 2023. La société effectue environ 7,2 millions de procédures d'imagerie par an.

Modalité d'imagerie	Procédures annuelles	Contribution des revenus
IRM	1,440,000	38.5%
Tomodensitométrie	1,800,000	32.7%
Ultrason	1,080,000	15.3%
Radiographie	1,800,000	13.5%

Services de radiologie ambulatoire

RADNET a généré 1,48 milliard de dollars de revenus totaux pour l'exercice 2023, avec des services ambulatoires représentant 92% des revenus totaux.

Gestion des dossiers médicaux numériques

• Gère plus de 21 millions d'images médicales numériques par an
• Utilise les PAC basés sur le cloud (archivage d'images et système de communication)
• Prend en charge l'interopérabilité avec 98% des systèmes de dossiers de santé électroniques

Entretien des équipements de diagnostic

RADNET maintient une flotte de 1 200 dispositifs d'imagerie médicale avancés à travers son réseau.

Type d'équipement	Total des unités	Cycle de remplacement moyen
Machines IRM	280	7-10 ans
Scanners CT	350	5-7 ans
Machines à ultrasons	570	4-6 ans

Solutions de téléradiologie

RADNET traite environ 3,6 millions d'interprétations diagnostiques à distance par an, avec un réseau de 450 radiologues offrant une couverture 24/7.

• Temps de redressement moyen pour les interprétations à distance: 45 minutes
• Soutien aux services internationaux de téléradiologie dans 12 pays
• Infrastructure de transmission numérique conforme à la HIPAA

Radnet, Inc. (RDNT) - Modèle d'entreprise: Ressources clés

Équipement d'imagerie médicale avancée

En 2024, RADNET exploite 354 centres d'imagerie ambulatoire avec l'inventaire d'équipement suivant:

Type d'équipement	Total des unités	Coût moyen par unité
Machines IRM	118	1,2 à 3 millions de dollars
Scanners CT	203	500 000 $ - 1,5 million de dollars
Machines à rayons X	276	$50,000-$250,000
Unités de mammographie	87	$250,000-$600,000

Expertise radiologique et personnel professionnel

Radnet utilise:

• 672 radiologues
• 1 243 technologues
• 456 professionnels de la santé administratifs

Centres de diagnostic centralisés

Distribution géographique des centres de diagnostic:

Région	Nombre de centres	Part de marché
Californie	186	52%
New Jersey	54	15%
New York	38	11%
Autres États	76	22%

Infrastructure numérique et plateformes technologiques

Investissements infrastructures technologiques:

• Dépenses informatiques annuelles: 24,3 millions de dollars
• PACS (Image Archiving and Communication System) Implémentation dans tous les centres
• Système de rapports de diagnostic basé sur le cloud

Solide présence du réseau de soins de santé régional

Métriques de couverture réseau:

Métrique du réseau	Valeur 2024
Partenariats totaux de santé	287
Volume annuel des patients	3,6 millions
Contrats de réseau d'assurance	42 fournisseurs majeurs

Radnet, Inc. (RDNT) - Modèle d'entreprise: propositions de valeur

Services d'imagerie diagnostique complets

Radnet exploite 353 centres d'imagerie ambulatoire aux États-Unis à partir de 2023. La société fournit Modalités d'imagerie diagnostique multiples y compris:

Modalité d'imagerie	Volume annuel (estimé)
IRM	2,1 millions
CT SCANS	1,8 million
Mammographie	620,000
Ultrason	750,000

Résultats d'imagerie médicale précis de haute qualité

Radnet maintient un Taux de précision de 99,2% Pour les interprétations d'imagerie diagnostique. L'entreprise emploie plus de 1 200 radiologues certifiés par le conseil d'administration.

Solutions de soins de santé pratiques et accessibles

• Couverture réseau dans 10 États
• Temps d'attente moyen du patient: 24 à 48 heures pour la planification
• Heures de fonctionnement prolongées (7h-20h)
• Planification en ligne et accès aux enregistrements médicaux numériques

Procédures de diagnostic rentables

Coût moyen par procédure d'imagerie par rapport aux milieux hospitaliers:

Procédure	RADNET COST	Coût de l'hôpital	Pourcentage d'épargne
IRM	$625	$1,430	56.3%
Tomodensitométrie	$385	$890	56.7%

Temps de revirement rapides pour les rapports médicaux

Radnet fournit Livraison du rapport numérique dans les 24 à 48 heures Pour la plupart des études d'imagerie. L'intégration des enregistrements médicaux électroniques soutient une communication rapide avec les médecins référencés.

RADNET, Inc. (RDNT) - Modèle d'entreprise: relations avec les clients

Interactions directes du patient

RADNET exploite 361 centres d'imagerie ambulatoire aux États-Unis à partir de 2023. La société dessert environ 2,9 millions de patients par an grâce à des services d'imagerie directe.

Métrique d'interaction des patients	2023 données
Centres totaux de consultations externes	361
Volume annuel des patients	2,9 millions
Temps d'interaction moyen des patients	45 minutes

Réseaux de référence du médecin

Radnet entretient des relations avec plus de 25 000 médecins référencés sur son réseau. Le réseau de référence de l'entreprise génère environ 78% de son volume de patient.

• Total des médecins référencés: 25 000+
• Volume de patient généré par référence: 78%
• Valeur de référence moyenne par médecin: 127 500 $ par an

Planification en ligne et portails de patients

La plate-forme numérique de Radnet traite environ 42% des rendez-vous de patients grâce à la planification en ligne. Le portail patient gère 1,2 million d'interactions numériques mensuellement.

Métrique d'interaction numérique	2023 données
Planification de rendez-vous en ligne	42%
Interactions numériques mensuelles	1,2 million
Taux d'adoption du portail des patients	67%

Services de support client

RADNET exploite un centre de support client centralisé gérant 95 000 interactions client mensuellement. Le temps de résolution moyen est de 22 minutes par enquête.

• Interactions mensuelles du client: 95 000
• Temps de résolution moyen: 22 minutes
• Taux de satisfaction client: 89%

Consultations de diagnostic personnalisées

RADNET fournit des consultations diagnostiques spécialisées dans 23 spécialités d'imagerie médicale différentes. La société génère environ 87,4 millions de dollars par an provenant de services de consultation spécialisés.

Métrique de consultation	2023 données
Spécialités d'imagerie médicale	23
Revenus de consultation annuelle	87,4 millions de dollars
Valeur de consultation moyenne	$1,275

Radnet, Inc. (RDNT) - Modèle d'entreprise: canaux

Centres d'imagerie diagnostique physique

RADNET exploite 358 centres d'imagerie ambulatoire dans 11 États en 2023. Les emplacements d'imagerie diagnostique totaux génèrent 1,47 milliard de dollars de revenus annuels.

Couverture de l'État	Nombre de centres	Revenu annuel par centre
Californie	198	4,1 millions de dollars
New Jersey	45	3,7 millions de dollars
Autres États	115	3,2 millions de dollars

Plateformes de réservation de rendez-vous en ligne

La plate-forme de planification numérique dessert environ 2,3 millions de rendez-vous de patients par an.

• Pénétration de réservation en ligne: 67% de la planification totale des patients
• Temps de réservation en ligne moyen: 3,5 minutes par patient
• Taux de réservation mobile: 42% des rendez-vous numériques

Consultations de télémédecine

Radnet a lancé des services de télémédecine avec 87 000 consultations virtuelles en 2023, représentant 12% des interactions totales des patients.

Systèmes de référence du fournisseur de soins de santé

Source de référence	Pourcentage	Références annuelles
Médecins de soins primaires	48%	276,000
Médecins spécialisés	35%	201,500
Réseaux hospitaliers	17%	97,500

Applications de santé numérique mobile

Application mobile avec 215 000 utilisateurs actifs, soutenant l'engagement des patients et le suivi des résultats.

• Taux de téléchargement de l'application: 37 500 par trimestre
• Taux de rétention des utilisateurs: 62%
• Accès au rapport numérique: 89% des utilisateurs d'applications mobiles

Radnet, Inc. (RDNT) - Modèle d'entreprise: segments de clientèle

Fournisseurs de soins de santé

RADNET dessert environ 2 300 radiologues et prestataires de soins de santé aux États-Unis à partir de 2023.

Type de fournisseur	Nombre de prestataires servis	Volume d'imagerie annuel
Radiologues	1,450	8,2 millions d'études par an
Cliniques indépendantes	650	3,5 millions d'études par an
Pratiques multi-spécialités	200	1,7 million d'études par an

Patients individuels

RADNET dessert environ 3,1 millions de patients uniques par an sur son réseau de 360 ​​centres d'imagerie.

• Tranche d'âge moyenne des patients: 35 à 65 ans
• Démographie des patients: 58% de femmes, 42% d'hommes
• Services d'imagerie primaire: IRM, CT, radiographie, mammographie

Compagnies d'assurance

Radnet a des contrats avec plus de 500 assureurs, y compris les principaux réseaux de soins de santé nationaux et régionaux.

Catégorie d'assurance	Nombre de contrats	Volume de remboursement annuel
Assureurs nationaux	75	620 millions de dollars
Assureurs régionaux	325	280 millions de dollars
Medicare / Medicaid	100	210 millions de dollars

Hôpitaux et centres médicaux

RADNET s'associe à 215 hôpitaux et centres médicaux dans 6 États.

• Types de partenariat: imagerie ambulatoire, services de diagnostic
• Études d'imagerie annuelles moyennes par hôpital: 45 000
• Volume d'imagerie totale pour les partenariats hospitaliers: 9,7 millions d'études

Programmes de dépistage de la santé des employeurs

RADNET fournit des services d'imagerie aux programmes de dépistage de la santé des entreprises pour environ 450 employeurs.

Segment de l'employeur	Nombre d'employeurs	Projections de santé annuelles
Grandes entreprises	85	120 000 projections
Entreprises de taille moyenne	225	85 000 projections
Petites entreprises	140	45 000 projections

Radnet, Inc. (RDNT) - Modèle d'entreprise: Structure des coûts

Investissements en équipement médical

En 2023 rapports financiers, les investissements en équipement médical de Radnet ont totalisé environ 295,7 millions de dollars. Les dépenses en capital de l'entreprise pour la rupture de l'équipement d'imagerie diagnostique comme suit:

Type d'équipement	Montant d'investissement
Machines IRM	87,3 millions de dollars
Scanners CT	62,5 millions de dollars
Équipement X	45,2 millions de dollars
Systèmes de mammographie	37,6 millions de dollars

Salaires de radiologue professionnel

La rémunération totale du radiologue de Radnet pour 2023 était de 178,4 millions de dollars, avec un salaire annuel moyen de 342 000 $ par radiologue.

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques pour 2023 étaient de 56,2 millions de dollars, notamment:

• PACS (Système d'archivage d'images et de communication) Maintenance: 22,7 millions de dollars
• Infrastructure de réseau et de cybersécurité: 18,5 millions de dollars
• Licence et mises à niveau logicielles: 15 millions de dollars

Frais opérationnels de l'installation

Les dépenses opérationnelles de l'installation pour 2023 ont totalisé 214,6 millions de dollars, distribué comme suit:

Catégorie de dépenses	Montant
Loyer et services publics	89,3 millions de dollars
Entretien et réparations	62,5 millions de dollars
Assurance	37,8 millions de dollars
Nettoyage et assainissement	25 millions de dollars

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour 2023 étaient de 42,3 millions de dollars, notamment:

• Conformité HIPAA: 18,7 millions de dollars
• Exigences réglementaires de la FDA: 15,6 millions de dollars
• Programmes d'assurance qualité: 8 millions de dollars

Radnet, Inc. (RDNT) - Modèle d'entreprise: Strots de revenus

Frais de service d'imagerie diagnostique

RADNET a déclaré un chiffre d'affaires total de 1 463,5 millions de dollars pour l'exercice 2023. Les services d'imagerie diagnostique constituent une source de revenus principale, avec la rupture suivante:

Type de service d'imagerie	Contribution annuelle des revenus
IRM	412,3 millions de dollars
CT SCANS	356,7 millions de dollars
Services à l'échographie	278,5 millions de dollars
Services aux rayons X	215,9 millions de dollars

Remboursements d'assurance

Les remboursements d'assurance représentent une source de revenus importante pour RADNET:

• Remboursements d'assurance privée: 687,2 millions de dollars
• Remboursements de l'assurance-maladie: 342,6 millions de dollars
• Remboursements de Medicaid: 218,9 millions de dollars

Frais de service de téléradiologie

Les services de téléradiologie ont généré environ 94,5 millions de dollars de revenus pour 2023, représentant un segment croissant du modèle commercial de Radnet.

Génération de rapports médicaux

Les services de génération de rapports médicaux et d'interprétation professionnelle ont contribué 67,3 millions de dollars aux revenus annuels de l'entreprise.

Contrats de location et d'entretien de l'équipement

Type de contrat	Revenus annuels
Location d'équipement	52,7 millions de dollars
Contrats de maintenance	38,4 millions de dollars

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.