Ann: Trading Update, page-50

reporting fees for radiologists vary from 17%-24% of Medicare fees.

out of hours loading means sometimes up to 27% of Medicare gets paid to radiologist.

if working on hourly rates then $250 - $450 per hour is typical radiologist pay rate.

radiographer rates vary $45 - $80 per hour then after hours loading of 1.5x - 2x on an on call basis. usually requires 25 minute or under travel time. So one CR case could be around 1.5-2 hours radiographer total time.

Assuming a CT head, $245 fee for providing the service, assuming Medicare Rate but often hospital is 1.5-2x extra for out of hours cases. so probably nearer $350. Radiologist fee will be approx $50. Radiographer fee including travel will be ~$150. So 40% potential profit for overnight hospital cases. Just gotta take out machine costs, head office costs and the rest is profit. In IDX case the costs excluding labour would therefore have to be around 35% or lower to generate a 5-6% margin.

not a bad business if run well. In Idx case, just not being run well enough now. Growing pains of disparate cultures from multiple roll ups - all varied in quality and management culture. And not enough time between acquisitions to allow Idx culture to develop.

a good company that is in early teenage years - will be better once it enters into adult stage of development. If it can hold on for that long...