We propose Retrieval Augmented Generation (RAG) as an approach for automated radiology report writing that leverages multimodally aligned embeddings from a contrastively pretrained vision language model for retrieval of relevant candidate radiology text for an input radiology image and a general domain generative model like OpenAI text-davinci-003, gpt-3.5-turbo and gpt-4 for report generation using the relevant radiology text retrieved. This approach keeps hallucinated generations under check and provides capabilities to generate report content in the format we desire leveraging the instruction following capabilities of these generative models. Our approach achieves better clinical metrics with a BERTScore of 0.2865 (Δ+ 25.88%) and Semb score of 0.4026 (Δ+ 6.31%). Our approach can be broadly relevant for different clinical settings as it allows to augment the automated radiology report generation process with content relevant for that setting while also having the ability to inject user intents and requirements in the prompts as part of the report generation process to modulate the content and format of the generated reports as applicable for that clinical setting.