Few Medical Laboratories and Pathology Groups Pursue Big Cost Savings by Identifying and Fixing the Recurring Cost of Bad Quality in Their Labs
Concepts of ‘recurring cost of bad quality’ and systemic failures are still new in clinical laboratory management, yet offer the potential for substantial savings to lab managers who learn these techniques and tools
Today, most clinical laboratories and pathology groups feel the financial squeeze from shrinking budgets and decreasing prices for lab tests. This is a big reason why cutting costs is a primary goal for nearly every medical laboratory in the United States.
In their cost-cutting efforts, labs quickly pursue the low-hanging fruit of reducing staff overtime and using Lean and Six Sigma to identify obvious sources of unnecessary costs. But there is a source of huge cost savings that goes unnoticed and unaddressed in all but a handful of the nation’s savviest clinical labs and pathology groups. It is the recurring cost of bad quality. (more…)