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Profitability

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Profitability Posted: Mon Nov 10, 2014 5:32 pm
In order to make sure we are as profitable as possible what is the best way to determine if we should batch a test and only run it a couple of times a week?
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deloselab
 
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Re: Profitability Posted: Mon Nov 10, 2014 5:33 pm
First thing you would want to do is to determine the low volume tests that you do in your lab that might benefit from batching. This can be different for each test. I would say that if you are averaging less than 4 a day this is where you should start. Once you have your list I suggest you discuss the batching idea with your lab director and clinical consultant to determine if any of the tests could be done less than daily without effecting clinical decision making. If so a cost savings study should be done to determine if the savings is worth not having the results on a daily basis. Any change must be approved by the laboratory director and documented in your laboratory procedure manual. It is also necessary to communicate any frequency change with the appropriate practice physicians and staff.
Last edited by todd.proud on Mon Nov 10, 2014 5:36 pm, edited 1 time in total.
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todd.proud
 
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Re: Profitability Posted: Mon Nov 10, 2014 5:34 pm
Why do you think 4 test/per day is the cutoff. And where is the cost savings?
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deloselab
 
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Re: Profitability Posted: Mon Nov 10, 2014 5:35 pm
This is not an exact number but a number that we have found should trigger an investigation. Your analysis will determine if that number works for your lab or not. The savings would come in if you were to batch your tests a few times per week you would be running lest overall tests per month. Also, many times at low volumes you lose money because you do not use all the reagent in a container before it expires onboard leading to an increased waste and therefore dollars.
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