subject: Paying For An Mri Machine [print this page] While, in many cases, Magnetic Resonance Imaging exams have succeeded in improving patient care, the equipment is quite expensive. MRI equipment varies in price, depending on the strength of the scanner and the age of its technology.
Newer scanners with more strength produce more detailed images; therefore, these scanners cost more. Magnetic Resonance Imaging machines can range in price from $1 and $3 million.
Construction of Magnetic Resonance Imaging suites can easily add another $500,000 to the total amount. An extremity MRI machine alone costs $300,000 or more, and can only be used to scan the patient's hands, feet and knees.
Purchasing a used-extremity Magnetic Resonance Imaging scanner can cost as much as $150,000. While Medicare, most HMOs and private insurance companies, as well as Workers' Compensation carriers, will cover at least some of the payment for a patient to have an MRI exam, government-sponsored health plans are now reimbursing less for the equipment charge.
When the price of the procedure is not covered by a patient's health plan, or a patient is uninsured, the provider will usually advise a patient of the payments at the time an appointment is scheduled. A Magnetic Resonance Imaging examination can cost several thousands of dollars, as it includes a charge for using the MRI machine to perform the scan, in addition to a professional charge for a radiologist to view the images.
The equipment charge alone can add up to somewhere in the range of $3,500. Add another $350 fee to that for a radiologist to take a look at the images and interpret the data.
Another factor to consider when it comes to medical facilities being reimbursed for the study is that many insurance companies require pre-approval before covering the price of a Magnetic Resonance Imaging exam. While MRI's generate substantial revenue for health-care providers who receive reimbursement from medical insurance providers, escalating health-care costs has made it more important for providers to keep prices under control.
Increasing prices to patients is not always the best solution either. If the payment of a medical service increases too much, there is always the risk that insurance companies may either reduce the amount of coverage for a service or drop coverage for the service altogether.
If an Magnetic Resonance Imaging exam is not conducted properly, another MRI study may need to be ordered, costing someone money. Although Magnetic Resonance Imaging scans are increasingly being used by physicians for diagnostic purposes, the scans costs patients significantly more than traditional x-rays or ultrasounds.
The procedure can be an expensive way to search for a disease that does not exist. Another disadvantage of this kind of screening is that not everyone has access to such an expensive diagnostic study.
The overall price of Magnetic Resonance Imaging makes it a huge investment to health-care providers. Aside from the initial price of purchasing the MRI equipment, there is the additional charge of $800,000 each year on average to operate the scanner, including the expensive process used to chill the magnetic coils in the machine.
Add to that the charge of hiring employees with the technical skills to operate and repair these sensitive machines, and the price tag quickly goes up more. Another critical consideration is the life cycle of a new MRI machine, which is typically assessed at about seven years.
However, because of the high price, most facilities try to get more in the line of 12 to 14 years of use out of the equipment. Even if a machine lasts longer, as it gets older, a scanner is likely to require repairs more often.
Fortunately, keeping the scanner functioning and in good repair can extend the lifetime. Consequently, when compared to the high cost of purchasing a new machine every few years, the price of making repairs is still significantly less.
Operating Magnetic Resonance Imaging equipment can generate as much as $10,000 of income an hour. It is easy to understand how an MRI machine that is not functional can end up costing the health care provider a considerable amount of money.
