The Financial Value of Clinical Laboratories is Disproportionately High: 5% of Cost Can Drive 50% or More of Margin
Here is one of healthcare’s best kept secrets–laboratory drives a disproportionate share of hospital profits. Five percent of hospital costs can drive over fifty percent of hospital profits. How? The answer is a robust laboratory outreach program. Outreach can be the proverbial “goose that laid the golden egg” providing a growing, recurring revenue stream at a time when hospitals are starved for new revenue and margin.
Yet, despite this incredible story, outreach is often misunderstood. Why? A myriad of reasons:
I could go on and on with the reasons why outreach is so misunderstood. If you hold any of these beliefs, I recommend you read one or more of the following articles:
- Stop Drinking the National Lab Kool-Aid
- Strategic Implications of Chi Laboratory Outreach Survey Findings
Kathleen A. Murphy, PhD.
Chief Executive Officer
Chi Solutions, Inc.