StatRad

The company's business model centers on providing remote interpretation of medical images, functioning as an extension of a hospital or clinic's own radiology department. StatRad employs over ninety U.S.-based radiologists who perform reads for numerous clients. Revenue is generated based on the volume of studies interpreted for its clients, with customized enterprise pricing determined by the scope of services. In July 2024, StatRad was acquired by I-MED Radiology Network, a move intended to expand I-MED's presence in the U.S. market.

StatRad's core offering is its proprietary teleradiology platform, developed in-house to support its services. This cloud-based software provides a centralized worklist for all exams sent from a client's facility and includes features designed to streamline workflows. Technologists can submit interpretation requisitions via a simple online form, moving away from fax and paper-based systems. A key component of the platform is the Online Client Portal, which grants clients 24/7 access to view exam reports, check the status of requisitions, and monitor performance metrics like turnaround times and study counts. This portal is accessible from any computer or secure mobile device without requiring any software downloads. The platform also offers data redundancy, with all information backed up to ensure operational continuity, and its infrastructure is designed to exceed HIPAA compliance standards for patient data protection.

Historically, the company has undergone several strategic shifts. In 2016, StatRad formed a parent company, NucleusHealth, to commercialize its cloud-native image management technology under the brand nucleus.io, while continuing teleradiology services under the StatRad name. The technology division, including its zero-footprint diagnostic viewer and streaming technology, was later acquired by Change Healthcare in 2020. Following this sale, the company, which had been operating as NucleusHealth, reverted to its original name, StatRad, LLC in 2022 to concentrate exclusively on its teleradiology services.