1887

Chapter 34 : Financial Decision Making: Putting the Pieces Together

MyBook is a cheap paperback edition of the original book and will be sold at uniform, low price.

Ebook: Choose a downloadable PDF or ePub file. Chapter is a downloadable PDF file. File must be downloaded within 48 hours of purchase

Buy this Chapter
Digital (?) $30.00

Preview this chapter:
Zoom in
Zoomout

Financial Decision Making: Putting the Pieces Together, Page 1 of 2

| /docserver/preview/fulltext/10.1128/9781555817282/9781555817275_Chap34-1.gif /docserver/preview/fulltext/10.1128/9781555817282/9781555817275_Chap34-2.gif

Abstract:

Much of a laboratory’s revenue will likely be fixed based on the size of the population receiving care from an accountable care organization (ACO), making cost containment an even greater imperative. In such circumstances, a valid cost analysis will look not merely at costs borne directly by the laboratory but also at those incurred by the larger organization. Capital expenditures for the introduction of molecular techniques would be substantial, and there would be associated needs for space, training time for technical staff, and infrastructural support, all of which would increase laboratory costs in the short term. In such a situation, even if the manager believes that the overall impact on the organization’s finances would be favorable, deciding whether to proceed may not be straightforward. While assigning precise dollar figures to incremental changes in inpatient length of stay (LOS) is problematic and beyond the purview of the laboratory manager, communication between the manager and colleagues addressing such issues is necessary to ensure that financial decisions in the laboratory are based on consideration of the wide range of pertinent data. Other than the need for teamwork in developing a suitable evidence base for decision making, effective human resource management to ensure optimal performance in the implementation phase is also equally important.

Citation: Bryant R, Lewis M. 2014. Financial Decision Making: Putting the Pieces Together, p 619-621. In Garcia L (ed), Clinical Laboratory Management, Second Edition. ASM Press, Washington, DC. doi: 10.1128/9781555817282.ch34

Key Concept Ranking

Molecular Techniques
0.917398
Real-Time PCR
0.75
0.917398
Highlighted Text: Show | Hide
Loading full text...

Full text loading...

References

/content/book/10.1128/9781555817282.chap34

This is a required field
Please enter a valid email address
Please check the format of the address you have entered.
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error