1. A method for compressing data for transmission via a slip ring connector in a medical imaging system, the method comprising: configuring a slip ring connector to transmit data from a data acquisition system (DAS) to a computer of the medical imaging system; configuring the DAS to acquire raw data in a plurality of channels and compress the acquired raw data using data compression based on a scout image that provides a measured dynamic range of data to identify a plurality of channels with similar data magnitudes, for transmitting from the DAS to the computer via the slip ring connector; and configuring the computer to reconstruct at least one image using the compressed data.