Capitol Health conducts over 1 million procedures every year and employs over 800 staff.
Capitol Health continues to pursue a dual-track growth strategy, exploring strategic growth opportunities while benefiting from the historically robust organic demand growth influencing the sector. Increasingly, the focus has moved to driving cost efficiencies while maintaining or improving patient outcomes.
There has been substantial consolidation in the Australian radiology industry; however, Capitol Health believes there is considerable opportunity to further consolidate the industry by acquiring, and establishing new clinics that deliver bulk billed services. Capitol Health is well placed to pursue its strategy of expansion through acquisition and organic growth.
The Victorian and New South Wales markets have historically been highly fragmented, with the top six market providers accounting for roughly half the overall market share and a sizable portion of clinics remaining independently owned and operated. Capitol Health’s current share of these markets is estimated at approximately 5% to 7%. Drivers for market share improvement include:
- community-based, personalised services;
- strength of brand to both consumer and referrer community; and
- efficiency gains through targeted technology investment.
Capitol Health has aligned its strategy to these drivers.
Personalisation is a focus of the strategy – through the company’s geographic footprint; recruitment and retention of leading sub specialist radiologists; in-house technological developments e.g. mobile applications, data science, and other online initiatives; and broader technical investment aimed towards delivering better patient outcomes.
Capitol Health’s commitment to implementing an Enterprise Imaging Platform over a vast network will enhance the accessibility of scan information, which aims to improve distribution of scans to the appropriate specialist, ultimately resulting in a more accurate and timely patient result the first time. The Enterprise Imaging Platform will drive loyalty and brand awareness, both among referrers and consumers.
Capitol Health listed on the Australian Securities Exchange (ASX) in June 2006 (ticker CAJ).