The Profit Potential of Hospital Labs
By Chris Serb
Outreach programs expand services to physicians, employers and insurers with relatively modest added investment
Opinions about what strategic value hospitals derive from their laboratories have zigged and zagged during the last 30 years: from cash cows to "necessary evil" cost centers; from something of an afterthought to mission-critical drivers of data and decisions. Now, perceptions are changing again. Hospital leaders increasingly see so-called laboratory outreach programs as a true business opportunity.
Outreach expands labs’ traditional role beyond quickly turning around tests for emergency cases and inpatients. Hospitals market their labs’ services to physician offices, employers and insurance companies, no longer conceding most of that business to independent commercial labs.