NAICS 621512 Quarterly Industry Report
Diagnostic Imaging Centers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 621512Sector: Health Care and Social Assistance (62)Updated: Q1 2026
About This Report
This industry profile for Diagnostic Imaging Centers (NAICS 621512) draws on data from the U.S. Census Bureau[9], Bureau of Labor Statistics[6], CMS[8], and SBA size standards database[7]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, radiology industry analysts, and imaging center investors with current market data. All quantitative claims are sourced to publicly verifiable databases.
Industry Snapshot
Key metrics for the diagnostic imaging centers industry.
NAICS Sector
62
Health Care and Social Assistance
Industry Definition & Overview
Diagnostic Imaging Centers (NAICS 621512) encompasses freestanding establishments known as diagnostic imaging centers primarily engaged in producing images of the patient generally on referral from a health practitioner per the U.S. Census Bureau[5]. Services include MRI, CT scanning, X-ray, ultrasound, mammography, PET scanning, bone densitometry, and fluoroscopy performed in outpatient settings separate from hospitals.
Market size reached $25.4 billion in 2024 with 96,249 employees per Census and Bureau of Labor Statistics[6] data. Average revenue per freestanding imaging location is $3.8 million. RadNet Inc. operates as the largest freestanding imaging operator with over 400 centers, followed by SimonMed Imaging, Akumin, and Alliance HealthCare Services. Independent single-site centers still represent a large market share, though multi-site consolidation has accelerated through private equity investment.
Per the SBA Table of Size Standards[7], the size standard is $19 million in average annual receipts. CMS[8] has made virtual supervision of diagnostic imaging permanent, allowing radiologists to provide real-time oversight through audio-video technology rather than requiring physical presence. AI-assisted image interpretation tools are gaining FDA clearance for mammography, chest X-ray, and musculoskeletal applications. State scope-of-practice regulations govern which practitioners may order imaging studies, while radiation safety standards under the Nuclear Regulatory Commission apply to facilities operating CT, fluoroscopy, and nuclear medicine equipment. Reimbursement pressures from the Physician Fee Schedule and hospital outpatient department bundling continue to shape freestanding center financial models.
What's Included in This Industry
- MRI (magnetic resonance imaging) scanning services
- CT (computed tomography) scanning and 3D reconstruction
- Diagnostic X-ray and digital radiography services
- Ultrasound and Doppler imaging examination services
- Mammography screening and diagnostic breast imaging
- PET and PET-CT nuclear medicine imaging services
- Bone densitometry (DEXA) scanning for osteoporosis
- Fluoroscopy and image-guided injection procedures
- Radiologist interpretation and reporting services
- AI-assisted image analysis and computer-aided detection
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Health Care and Social Assistance | 62 |
| Subsector | Ambulatory Health Care Services | 621 |
| Industry Group | Medical and Diagnostic Laboratories | 6215 |
| NAICS Industry | Medical and Diagnostic Laboratories | 62151 |
| National Industry | Diagnostic Imaging Centers | 621512 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 621511 | Medical Laboratories | Medical Laboratories provide complementary diagnostic testing that physicians order alongside imaging studies, with laboratory and imaging results together forming the diagnostic workup for many clinical conditions requiring multi-modal evaluation |
| 622110 | General Medical and Surgical Hospitals | General Medical and Surgical Hospitals operate inpatient and outpatient imaging departments that compete with freestanding centers for physician referral volume, with hospital-based imaging often costing more due to facility fee structures |
| 621111 | Offices of Physicians (except Mental Health Specialists) | Offices of Physicians (General) serve as primary referral sources for imaging studies, with physician ordering patterns, prior authorization requirements, and patient convenience driving referral volume to preferred imaging providers |
| 339113 | Surgical Appliance and Supplies Manufacturing | Surgical and Medical Instrument Manufacturing produces MRI machines, CT scanners, X-ray systems, and ultrasound equipment that represent the primary capital expenditures for imaging center buildout, with technology refresh cycles driving ongoing investment |
| 621493 | Freestanding Ambulatory Surgical and Emergency Centers | Freestanding Ambulatory Surgical Centers require pre-operative and post-operative imaging services, with MRI, CT, and X-ray referrals from ASCs creating clinical workflow connections between surgical and imaging facility operations |
| 524114 | Direct Health and Medical Insurance Carriers | Direct Health and Medical Insurance Carriers set imaging reimbursement rates and manage prior authorization requirements that directly influence freestanding center revenue and patient access to diagnostic imaging services |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 13.4% | 928 |
| 2 | Florida | 12.7% | 879 |
| 3 | Texas | 11.4% | 790 |
| 4 | New York | 8.3% | 573 |
| 5 | New Jersey | 3.7% | 255 |
| 6 | Georgia | 3.6% | 246 |
| 7 | Illinois | 3.3% | 226 |
| 8 | North Carolina | 2.8% | 192 |
| 9 | Pennsylvania | 2.7% | 184 |
| 10 | Arizona | 2.5% | 175 |
% Of Establishments
0%
13%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
312
Total SBA Loans
$186.7M
Total Loan Volume
$598K
Average Loan Size
11 yrs
Average Loan Term
10.13%
Average Interest Rate
4,184
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per the SBA Table of Size Standards[7], Diagnostic Imaging Centers (NAICS 621512) has a size standard of $19 million in average annual receipts for federal contracting purposes. SBA lending programs[10] support center acquisition, imaging equipment investment, and facility expansion for qualifying diagnostic imaging center operators. Eligible businesses can access SBA 7(a) loans[11] for working capital, equipment, and acquisition financing, while 504 loans[12] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Banco Popular de Puerto Rico | 32 | $46.3M | $1.4M |
| 2 | City National Bank | 16 | $32.1M | $2.0M |
| 3 | EverBank National Association | 8 | $19.5M | $2.4M |
| 4 | Climate First Bank | 8 | $13.9M | $1.7M |
| 5 | Centerstone SBA Lending, Inc. | 8 | $10.7M | $1.3M |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for diagnostic imaging centers?
NAICS 621512 covers freestanding diagnostic imaging centers providing MRI, CT, X-ray, ultrasound, mammography, and other imaging services per the U.S. Census Bureau[5].
How large is the diagnostic imaging center market?
What is the SBA size standard for imaging centers?
The SBA size standard[7] is $19 million in average annual receipts, determining eligibility for federal small business contracting programs and SBA lending products.
Who is the largest freestanding imaging operator?
RadNet Inc. operates over 400 centers as the largest freestanding imaging operator per industry tracking data, followed by SimonMed Imaging, Akumin, and Alliance HealthCare Services across multi-state networks.
Can radiologists supervise imaging remotely?
CMS[8] has made virtual supervision of diagnostic imaging permanent, allowing radiologists to provide real-time oversight through audio-video technology rather than requiring physical presence at the imaging facility.
How is AI being used in diagnostic imaging?
AI-assisted image interpretation tools are gaining FDA clearance for mammography, chest X-ray, and musculoskeletal applications per CMS[8] technology guidance, with computer-aided detection improving diagnostic accuracy and workflow efficiency.
How do imaging center costs compare to hospitals?
Freestanding centers typically charge lower prices than hospital outpatient departments due to the absence of facility fees, with price transparency requirements increasingly driving commercially insured patients toward freestanding imaging per Bureau of Labor Statistics[6] pricing data.
What equipment does an imaging center need?
Primary equipment includes MRI machines, CT scanners, X-ray systems, and ultrasound units per CMS[8] facility standards, with individual units costing $150,000 to $3 million depending on modality, field strength, and technology generation.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA Table of Size Standards sba.gov
- [8]CMS cms.gov
- [9]U.S. Census Bureau data.census.gov
- [10]SBA lending programs sba.gov
- [11]SBA 7(a) loans sba.gov
- [12]504 loans sba.gov
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