Page 6 - index

Looking for a Lab Strategy?

For years, hospital executives counted on stable margins In a dramatically changing and competitive market,
from the laboratory department. Unlike today, healthcare advisors and advocates who are proactive in hospitals
executives are facing tough decisions that will impact the should strategize and identify financial choices to
future direction of the hospital lab. The revenue initially maximize laboratory businesses.
gained from outreach services covered the monetary
losses from inpatient /outpatient. With reductions in What direction labs will face depends on top executives
reimbursements, increasing the test volume for a making the right economic decision. Hospitals can be at
lower cost per test may not be enough to minimize a disadvantage to large commercial labs. Large labs are
the revenue loss. particularly effective in processing huge volumes for
a lower cost. Streamlining the hospital lab processes,
Outreach lab has always lowering cost, and having access to reportable

been a driving contributor to data can create efficiencies in operations
and may be the fine line in the
the hospital’s bottom-line profits. decision-making process.

As labs continue to experience declining test
reimbursements, the question remains how hospital labs
will survive the diagnostic testing financial pitfalls?
Executive management is making every effort to satisfy
the laboratory’s goals and objectives. For management
to meet financial stability, they will need to consider
all options without compromising quality patient care.

Trending