David Kent Joslin is a senior executive radiology consultant – his long-standing career in radiology has helped him orchestrate mergers and acquisitions, strategy and development, partnerships, de novo projects, and more. In his current role, David Kent Joslin advises companies by identifying and solving issues that inhibit growth. He puts together a strategy using his business insight, hands-on operational experience, software development knowledge, experience in the healthcare services sector, investment banking, and more. David’s financial expertise comes from the accounting experience he gained while working for investment banking and management consulting.
Although he is currently based in Sarasota, David Kent Joslin has had an international reach. David Joslin is a board member for Insight Radiology Puerto Rico, a multi-site operator of free-standing radiology facilities. He has a business proficiency in Spanish and enjoys spending time on the island.
Aside from Puerto Rico, David’s international reach began when he graduated in 1993 from Duke University with a degree in history and political science. His first job took David Kent Joslin to Mexico City as a strategy management consultant for a leading media and telecom company. After spending three years in Mexico City, David Joslin relocated to London from 1996 to 1997 to work as a financial analyst for an international investment banking firm.
When he returned to the United States from his job in London, David Kent Joslin enrolled at Columbia Business School in New York. In the summer of 2000, he completed a summer internship with Bain Consulting in Panama City, Panama. After completing his MBA in 2001, David worked for a large investment bank in New York City. His work in investment banking led him to make start-up investments in healthcare. Some of the investments included medical devices, CAD Sciences, and Insight Radiology.
Once he became involved with Insight Radiology Puerto Rico, David Kent Joslin shuttled back and forth between San Juan, Puerto Rico, and New York City. David Joslin later became more involved and became a board member of Insight Radiology.
In 2008, David Kent Joslin served as vice president of mergers and acquisitions at a large radiology and cancer treatment healthcare services firm. By 2012, he returned to Insight Radiology until 2015 when David Kent Joslin transitioned to RadNet as vice president of operations and development. In his role at RadNet, David managed the services of 17 radiology centers in New Jersey, a $65 million operation.
Since settling in Sarasota with his family, David Kent Joslin loves to spend his free time playing golf and cycling outdoors. David Joslin is not done with New York, however; he still holds a real estate license in that state.
As a senior executive consultant in radiology, David Kent Joslin has many years of experience working with various healthcare services, software development, and management consulting. David Kent Joslin is also a board member of InSight Radiology Puerto Rico, a multi-site operator of free-standing radiology facilities. A successful senior advisor and radiology consultant, David Kent Joslin has put together deals for multi-million dollar companies. David Joslin explains how to succeed in the radiology industry.
Radiology Is Full of Surprises
David Joslin points out that the responsibilities of a radiologist vary day by day, and learning ways to deal with the unexpected is vital. David Joslin knows successful radiologists are those who are can quickly work through routine images (high productivity is essential) while retaining the acuity and focus to catch other diseases in the more difficult cases that may not have been suspected previously.
Communication Is Key
Communication is critical in Radiology because it can save someone’s life. As a successful financial advisor, David Joslin knows that the ability to communicate well on the job is necessary to succeed. For radiologists, mastering verbal and written communication skills should be a top priority. Verbal communication skills allow radiologists to share information from the patient to the physician without complication. Good written communication skills ensure radiologists are properly documenting patient history, times of exams, and other details during the consultation.
There Is More Than One Possibility
When it comes to the human body, radiologist, and anyone in the medical field know there are always multiple possibilities. Although they are trained to understand human anatomy, radiologists learn early on to look for more possibilities.
Integrity Is a Key Principle
Integrity is an essential quality for all of those who work in the medical field, according to David Joslin. Radiologists need to maintain untarnished integrity. For example, tampering with medical records or modifying patient results can have irreversible consequences for the patient. For those who work in healthcare, it often helps to treat every image or result as if they were dealing with a loved one.
David Joslin has a robust portfolio in the industry – he also served as VP of Operations and Development for RadNet, a radiology facilities operator. David Joslin graduated from Duke University with a B.A. in history and political science before obtaining his MBA in finance and accounting from Columbia Business School. He lives in Sarasota, FL, with his family.
A successful senior advisor and radiology consultant, David Kent Joslin, has put together deals for multi-million dollar companies. He has also worked for a variety of healthcare services, management consulting, and software development. His successful career in the healthcare industry has also led him to sit on the board of InSight Radiology Puerto Rico, a multi-site operator of free-standing radiology facilities. With such a long successful career, David Joslin has identified healthcare reimbursement trends to watch out for in 2019.
Merit-Based Incentive Payment System
According to David Joslin, Merit-Based Incentive Payment System (MIPS) is a trend that is not going away any time soon. MIPS is useful in the health reimbursement sector because it tracks three useful things into one single payment program – the Value-based Payment Modifier Program (VM), Physician Quality Reporting System (PQRS), and Medicare Electronic Health Record Incentive Program. Since MIPS combines all of these systems into one, physicians and health centers will minimize financial errors.
Big Players Continue to Get a Bigger Piece of Pie
In the healthcare reimbursement sector, large hospitals and healthcare centers usually get the largest financial reimbursement, while small private practices tend to fall short. As more and more small practices merge with large health centers, the big players will continue to demand the largest financial gain.
Providers Will Improve Value
David Joslin explains that physicians and hospitals with the data to prove positive outcomes will be more attractive for insurers. Although some carriers will still stick to the fee-for-service business model, carriers will emphasize service value. The healthcare reimbursement sector will depend a lot more on value-based care than in previous years.
Healthcare Reimbursement Will Cover Virtual Visits
Many insurance companies now offer virtual visit consultations for their patients. David Joslin explains doctors and providers can now set up consultations with patients via video-chat or over the phone and get paid by insurers. The value of virtual check-ins makes it convenient for both patients and providers. Before accepting virtual consultations, physicians need to ensure insurance companies will cover those services.
Boost Revenue with Existing Codes
David Joslin explains that many providers are focusing on transitional care management (TCM) and chronic care management (CCM) codes to boost revenue. By using the proper codes to document patient discharge dates and relevant information, providers miss out on billing opportunities. David Joslin says health care centers will see the value in using these existing codes.
About David Joslin
David Joslin has a B.A. in history and political science from Duke University and an MBA in finance and accounting from Columbia Business School. David Joslin lives in Sarasota, FL, with his family.
As a senior executive consultant in radiology, David Kent Joslin has many years of experience working with various healthcare services, software development, and management consulting. David Kent Joslin is also a board member of InSight Radiology, Puerto Rico, a multi-site operator of free-standing radiology facilities. With his extensive portfolio in the healthcare industry, he explains the healthcare reimbursement process.
Log the Patient Information Necessary to Submit for Payment
According to David Joslin, before they can get paid, medical providers have to log the patient’s information into an electronic health record (EHR). The purpose of the EHR is to document the necessary patient information including, medical history and reason for the visit. Most providers also document how they diagnosed the patient and the treatment plan. It’s necessary that the provider documents all of this information since it’s key to process the reimbursement.
Enter the Appropriate Medical Codes
Every single entry made in the EHR has to have the appropriate medical code. Medical coders or the providers are in charge of assigning medical codes. The use of these medical codes is necessary when trying to obtain reimbursement from payers. David Joslin explains that it’s a lot easier for insurance companies to simply look at the medical code instead of reading through a long medical description. For each service or procedure performed, the provider will be paid based on the services.
Submission of the Claim
David Joslin explains once the services provided to the patient have been properly coded, it’s time to submit the claim. Many providers choose to submit the claim directly to the payer/insurance company, while others first run it through Clearinghouse. According to David Joslin, the purpose of Clearinghouse is to review the claims internally before sending it to providers. If it identifies a mistake, the provider has the opportunity to address it before the payer receives the claim. This cuts back on mistakes and speeds up the reimbursement process. Once the claim is ready to go, the payer will receive the electronic submission.
Wait for the Payer’s Response
Once the payer receives and reviews the invoice, they either pay the full claim, partially pay it, or reject the claim. David Joslin says that providers should also expect a list of remittance advice codes with every rejected claim. On top of providing a code with each rejection, they also provide a brief explanation. The provider needs to take the necessary steps to give the payer what they need in order to process the claim.
Prepare for Audits
Providers should always have all of the documentation necessary in case of an audit. David Joslin explains payers can request an audit at any point to ensure all of the claims are correct. The more organized they are on the front end, the easier the audits will go.
About David Kent Joslin
David Kent Joslin obtained his MBA in finance and accounting from Columbia Business School and a Bachelor of Arts in History and Political Science from Duke University. He also holds a real estate license in the state of New York. When he is not playing a game of golf, he likes to spend time with his family in their Sarasota home.
As a successful senior advisor and radiology consultant, David Kent Joslin has a long successful career in the healthcare industry. For many years, David Joslin has advised companies to help them identify areas that inhibit growth. His role helps healthcare companies develop a competitive strategy and reach success. David Kent Joslin has also worked with a variety of healthcare services, management consulting, and software development. David’s experience with Mergers & Acquisitions healthcare has helped him put together deals for multi-million dollar companies. This is one of the reasons why David Joslin is familiar with the Mergers & Acquisition trends in 2019.
So far, in 2019, healthcare M&As accounted for $11.3 billion in transactional revenue. According to David Joslin, 2018 saw some healthcare M&A trends that carried over into 2019. Small and community-based hospitals and health centers partnered with some of the large regional hospitals. David Joslin explains this move will ensure the survival and growth of the smaller hospitals.
The smaller hospitals were not the only ones merging in 2019. Large and regional healthcare facilities and hospitals participated in mega-mergers to expand their service reach and health coverage. David Joslin also explains that one of the most significant trends includes nonprofit healthcare systems acquiring for-profit health centers and hospitals. By acquiring for-profit hospitals, nonprofits hope to fill service gaps.
Some of the other trends happening in healthcare M&A also have private equity firms accounting for most of the transactions in mega-deals, cross country integrations, and disruptive partnership models. According to David Joslin, the healthcare sectors that have seen the most M&A activity in 2019 include urgent care centers, behavioral health, senior practices, ambulatory surgery, diagnostic imaging, and senior living. For example, David Joslin explains there is a higher need for services that are happening outside of hospitals, which is the reason why urgent care services are a popular sector.
Aside from his work as a senior executive consultant in radiology, David Kent Joslin is also the board member of InSight Radiology Puerto Rico, a multi-site operator of free-standing radiology facilities. David Kent Joslin also has an MBA in finance and accounting from Columbia Business School. Not to mention, he graduated from Duke University with a B.A. in history and political science before obtaining his MBA. He currently resides in Sarasota, FL, with his family. When he is not playing a game of golf, he spends his time building homes with Habitat for Humanity.
A long career as a senior executive in finance and radiology, both in the U.S. and abroad, prepared David Joslin for his latest occupation as a consultant specializing in mergers and acquisitions and general management advisory.
Although he’s not a medical doctor, David Joslin has accumulated a trove of knowledge about radiology and the radiology business.
David Joslin has also worked as a radiology consultant and continues to stay involved in the radiology business today as a longtime member of the board of directors for a leading radiology healthcare services provider in Puerto Rico.
David Joslin has witnessed a fundamental change in the industry and he explains how the field has evolved. “Today radiology has become an IT-driven business with a technological at its core that facilitates a three-way interactive dialogue between referring physician, diagnosing radiologist and the patient”, Joslin said. He continues, “A third component in the form of a central radiology backbone, called RIS/PACS in industry parlance, stands equally alongside the radiologist and the imaging machines themselves in importance to getting the diagnosis right. Broadly speaking, RIS/PACS coordinates image capture, interpretation, and storage as well as key business functions such as patient scheduling, insurance billing and the production of KPIs (key performance indicators) to give managers hard data with which to make decisions.”
Radiology is a medical specialty that diagnoses disease and detects tissue or bone abnormalities by seeing or visualizing those medical conditions in the body which in turn guides better treatment decisions. Before radiology, without the ability to visualize, medical intervention relied more heavily on less direct methods of diagnosis.
After the discovery of x-rays in 1895, physicians learned how to transmit them through the body in order to produce an image, or radiograph, of internal bone or tissue structure. Improvements in that technology first resulted in fluoroscopy, which captured motion instead of still x-ray images.
The advent of computing made possible further advances in imaging of tissue structure and function including computed tomography (CT), dynamic ultrasound imaging based on sound wave technology, and magnetic resonance imaging (MRI), among others, which relies on the magnetic properties of fluids in the body and tissue. Imaging of body chemistry has been achieved through a combination of positron emission tomography and CT (PET/CT) which together track the properties and behavior of radioactive agents introduced into the bloodstream.
Radiology Aids the Cure
Whether they are general practitioners or board-certified surgeons, doctors around the world today rely on radiology to diagnose, treat and heal injuries, ailments, and diseases from head to toe.
A shortlist of some of the different types of radiology today includes:
· Body imaging
· Breast imaging (mammogram)
· Cardiac imaging (heart)
· Interventional radiology (includes biopsies)
· Musculoskeletal imaging (joints, muscles, ligaments, tendons, and bones)
· Neuroradiology (brain)
· Nuclear medicine
· Pediatric imaging (children)
· PET/CT imaging (positron emission tomography/computed tomography)
· Thoracic imaging (spinal and cervical)
· Vascular imaging (blood vessels, arteries, and veins)
After graduating from Duke and earning an MBA from Columbia in 2001, David Joslin worked in investment banking before taking executive positions in connection with investments in the healthcare space, namely healthcare services, and medical devices.
In 2002, Joslin was a co-founder and served as a strategy and operations executive for InSight Radiology, a chain of outpatient radiology facilities in San Juan, Puerto Rico. Six years later, he left the company but returned from 2012 to 2015 to serve as its president and he continues to serve on the company’s board of directors today.
From 2008 to 2012, in between his stints at InSight Radiology, David Joslin returned to New York to serve as vice president of mergers and acquisitions at Alliance Healthcare Services, where he created and led a mergers and acquisitions group at the large radiology center operator and cancer treatment provider, completing five transactions with a total equity value of $102 million.
Later, from 2016 to 2017, Joslin was vice president of operations and development at RadNet, where he managed operations for 17 radiology centers in New Jersey. He was responsible for a $65 million profit and loss portfolio.
David Kent Joslin currently advises companies in identifying and resolving issues inhibiting growth in order to create a strategic competitive advantage. Joslin’s strategic insight and hands-on operational experience, along with financial, capital raising and accounting expertise, combine to provide his management clients with balanced and actionable advice.
For more information about David Joslin’s career as a radiology consultant and list of selected transactions in mergers and acquisitions, capital markets and licensing, click here.
Radiology consultant David Joslin is a senior executive with demonstrated results in corporate strategy and development, mergers and acquisitions, de novo (facility development) projects, operations, turnarounds, partnerships, accounting and financial management.
Based in Sarasota and with an international reach – he has long worked in Puerto Rico and has business proficiency in Spanish – David Joslin has parlayed his education, international banking experience and intimate knowledge of healthcare services, software development, media, investment banking and management consulting to compile an impressive career resume.
David Kent Joslin currently advises companies in identifying and resolving issues inhibiting growth in order to create a strategic competitive advantage. Joslin’s strategic insight and hands-on operational experience, alongside informed financial, capital raising and accounting expertise learned at several investment banks, combine to provide management with balanced and actionable advice.
After Duke, International Insights
After graduating from Duke University in 1993 with a joint degree in history and political science, David Kent Joslin went international for his first real job, becoming a strategy management consultant for a leading media and telecom company based in Mexico City.
Then it was on to London in 1996-97 as a financial analyst for an international investment banking firm and later to Columbia Business School in New York with a summer internship with Bain Consulting in 2000, this time in Panama City, Panama.
Earned an MBA from Columbia
After earning his MBA from Columbia in 2001, David Joslin stayed in New York at a large investment bank after which he teamed with several angel/venture investors to make start-up investments in healthcare services and medical devices, InSight Radiology and CAD Sciences, respectively. Both investments had David Joslin shuttling between New York and San Juan, Puerto Rico serving actively in management and as a board member.
David Joslin returned to New York in 2008 to serve as vice president of mergers and acquisitions at a large radiology and cancer treatment healthcare services firm, before returning to InSight from 2012-2015. Later, as vice president of operations and development at RadNet from 2016-17, Joslin managed operations for 17 radiology centers in New Jersey, where he had P&L responsibility for a $65 million radiology services operation.
At Home in Sarasota
A Tough Mudder enthusiast, David Kent Joslin also is interested in current history and enjoys golf and cycling, as well as spending time with his family in beautiful Sarasota. He often travels to New York and holds a real estate license in that state.
For more information about David Kent Joslin’s professional career and a more detailed list of his successful mergers and acquisitions, click here.