Maximize health system financial performance: 5 reasons to retain the lab service line
Hospital systems are under ever-increasing pressure to balance quality patient care with bottom-line performance. Selling your laboratory business or entering into a joint management agreement may seem like a wise decision to bring a short-term cash infusion.
But data suggests health systems that retain their lab service lines ultimately perform better financially compared with those that relinquish control of the lab — while maintaining their ability to deliver quality care for their patients.
This report presents five data-driven reasons why retaining your hospital lab can make a powerful impact on the financial well-being of the entire health system.
Takeaways from the report:
But data suggests health systems that retain their lab service lines ultimately perform better financially compared with those that relinquish control of the lab — while maintaining their ability to deliver quality care for their patients.
This report presents five data-driven reasons why retaining your hospital lab can make a powerful impact on the financial well-being of the entire health system.
Takeaways from the report:
- How lab ownership impacts length of stay and contributes to growth in net patient revenue and other ancillary services
- Real-world examples demonstrating what might be at stake when health systems sell their lab
- The long-term financial benefits of maintaining control of the lab
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