1887

Chapter 38 : Determination of Profitability

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

Determination of Profitability, Page 1 of 2

| /docserver/preview/fulltext/10.1128/9781555817695/9781555812799_Chap38-1.gif /docserver/preview/fulltext/10.1128/9781555817695/9781555812799_Chap38-2.gif

Abstract:

This chapter describes those items that are included in the true costs of a laboratory procedure, It discusses possible reasons why cost analyses rarely account for all expenditures and the term “outcome assessment.” The chapter lists three primary tools used in the laboratory to assess profitability. Several key indicators used to evaluate an institution’s performance (benchmarking) and the the term “outcome assessment” are described. The chapter also talks about the concept of human profitability and its relationship to quality patient care. Analyses to assess laboratory profitability are usually performed on a regular basis, not less than quarterly and typically monthly. To accomplish this there are three primary tools used in the laboratory setting: the balance sheet, the income statement, and the cash flow statement. Key income indicators are used to determine whether a laboratory is financially successful. It is clear that each individual laboratory must be able to operate efficiently within a defined budget and that each laboratory manager must continue to seek ways to operate more effectively to decrease overall costs in an era of evercontinuing decreases in available revenues. Through all discussions of profitability, one must not lose sight of the reason for the existence of laboratory medicine as an accepted discipline.

Citation: Baselski V, Weissfeld A, Sorrell F. 2004. Determination of Profitability, p 603-608. In Garcia L, Baselski V, Burke M, Schwab D, Sewell D, Steele J, Weissfeld A, Wilkinson D, Winn W (ed), Clinical Laboratory Management. ASM Press, Washington, DC. doi: 10.1128/9781555817695.ch38

Key Concept Ranking

Antimicrobial Susceptibility Testing
0.58361346
Chlamydia trachomatis
0.55664146
Influenza A virus
0.5
0.58361346
Highlighted Text: Show | Hide
Loading full text...

Full text loading...

References

/content/book/10.1128/9781555817695.chap38
1. Church, D. L.,, H. D. Davies,, C. Mitton,, H. Semeniuk,, M. Logue,, C. Maxwell,, and C. Donaldson. 2002. Clinical and economic evaluation of rapid influenza A virus testing in nursing homes in Calgary, Canada. Clin. Infect. Dis. 34:790795.
2. Doern, G.V.,, R. Vautour,, M. Gaudet,, and B. Levy. 1994. Clinical impact of rapid in vitro susceptibility testing and bacterial identification. J. Clin.Microbiol. 32:17571762.
3. Drinka, P. J.,, P. Krause,, L. Nest,, S. Gravenstein,, B. Goodman,, and P. Shult. 2002. Delays in the application of outbreak control prophylaxis for influenza A in a nursing home. Infect. Control Hosp. Epidemiol. 23:600603.
4. Gift, T. L.,, M. S. Pate,, E. W. Hook III,, and W. J. Kassler. 1999. The rapid test paradox: when fewer cases detected lead to more cases treated: a decision analysis of tests for Chlamydia trachomatis. Sex. Transm. Dis. 26:232240.
5.NCCLS. 1998. Basic Cost Accounting for Clinical Services. Approved guideline GP11-A. NCCLS, Wayne, Pa.
6. Travers, E.M. 1997. Clinical Laboratory Management, p. 259283. Williams and Wilkins, Baltimore, Md.
7. Wilkinson, D. S. 2000. Technology assessment: measuring the outcomes of laboratory practice. Clin. Leadersh. Manag. Rev. 14:267271.
8. Wilkinson, D. S.,, and D. D. Reynolds. 2003.Using benchmarking to manage your laboratory. Clin. Leadersh. Manag. Rev. 17:58.

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