CEO SUMMARY: Seeking ways to automate every aspect of work flow, the clinical laboratory at St. Francis Health System in Tulsa, Oklahoma, implemented a unique automated laboratory inventory management system that utilizes RFID. In the first four months, the system helped the hospital cut the value of inventory on hand by $296,000. Another direct cost savings was a 75% reduction in staff time required for inventory control. Payback from this investment was swift and lab administration says it is saving more than $169,000 each year because of this system.
Tag: reduction in cost
CEO SUMMARY: One stark difference between the presentations delivered at last year’s Executive War College and this year’s presentations in New Orleans last week was near-unanimous recognition that the era of fee-for-service payment is soon to end! Speaker after speaker urged the audience to accept this marketplace reality. The common recommendation was for lab administrators and pathologists to take immediate steps to help their laboratories respond to this development in effective ways.
IN RECENT WEEKS, each of the nation’s two largest public laboratory companies reported earnings for fourth quarter 2011 and full year 2011. Organic growth at both lab companies continues at low single-digit rates.
This continues the pattern of relatively modest growth that has been posted by each of the two lab behemoths. On the other hand,
CEO SUMMARY: It was six years ago when Geisinger Health System pushed laboratory testing and pharmacy services closer to the patients and referring physicians. By establishing coagulation clinics in six multi-specialty clinic sites, Geisinger has allowed pharmacists to use point-of-care testing to provide coag consults, therapy, and patient counseling in real time–often in as little as 30 minutes
CEO SUMMARY: Here’s a consolidated laboratory organization serving six hospitals and an extensive outreach program. As described in the first installment of this two-p art series, Presbyterian Laboratory Services actively reshaped itself into a well-run asset for its parent healthcare system. Consistent growth and strong management execution gives Presbyterian Laboratory Services the potential to become