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January 25, 2016 by Kristina Loughrey

How In-Office Lab Creates More Profit for Your Medical Practice (Part 1)

How In-Office Lab Creates More Profit for Your Medical Practice (Part 1)
January 25, 2016 by Kristina Loughrey

Are you looking for ways to turn your business into a more profitable medical practice? Thanks to all the overhead and market challenges the average practice faces, maintaining a healthy profit is often more difficult than it looks. What’s worse, implementing the wrong ideas at the wrong time can actually increase expenses and reduce margins.

When it comes to a profitable medical practice, however, one tactic stands out: Starting your own in-office medical lab. If you’ve thought this is unattainable for your practice due to regulatory standards or other issues, it’s time to take a second look. Companies of all sizes, from small startups to large established brands, are having increased success.

An In-Office Lab is the Engine of a Profitable Medical Practice

The situation for most practices is simple: They invest time and expertise to draw blood, but still need to outsource samples to a specialized lab company to get test results. Bringing lab work back in-house may seem like a challenge, but the results speak for themselves – the opportunity for anywhere from $50,000 to $80,000 in pure profit for each test run.

Establishing an in-house lab may be easier than you think. Although regulations are complex, it has never been easier to meet requirements for a whole suite of low-risk tests. These include such commonplace procedures as ovulation, blood glucose, rapid strep tests, and urinalyses of various kinds – all considered “waived labs” with streamlined rules.

We also help setup equipment and testing processes for moderately complex lab services.

In-House Lab Work is a Smart Move for a Profitable Medical Practice
 
The medical world is growing more competitive. Practice leaders have much to gain by challenging pre-conceptions about in-house lab work and investigating how it can fit into their business model.
As with any new program, an in-house lab requires new processes and careful implementation. Done right, however, it can provide sizable returns within a short period, giving your practice enduring advantages.
Are you in the early stages of implementing in-practice lab work? Contact Vessel Medical for a free one-on-one consultation in your medical practice with one of our lab setup specialists.

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Recent Posts

Test Anywhere with Clip COVID, A Smartphone-Based Rapid TestFebruary 11, 2022
Flu Season Ramps UpDecember 17, 2021
Difference Between Strep Throat and COVID-19December 14, 2021

Categories

  • A more Efficient Practice
  • Allergy
  • Allergy Shots
  • BR Video System
  • Burdick ECG
  • Chemistry
  • CLIA Waived
  • Covid-19
  • Current Trends
  • Diabetes
  • Enovachem Injection Kits
  • Equipment
  • exercise
  • Flu
  • Flu Season
  • General Medical Supplies
  • Generate More Revenue
  • Hematology
  • Immunoasay
  • In-House Lab
  • Integra Miltex
  • Lab
  • Lifestyle
  • Lung Diseases
  • Monthly Specials
  • NDD
  • News
  • Nikomed
  • Others
  • Overstock Flu Vaccine
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  • Post
  • Profitable Lab
  • Running a Efficient Practice
  • Sport
  • Uncategorized
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