Factors influencing relative financial performance of hospital laboratories. Economic comparisons to measure...

When factors that drive hospital laboratory costs are clearly understood, administrators and laboratory directors can make more informed, comprehensive decisions about the laboratory's future. If internal laboratory operations cause higher-than-average relative costs, department managers can work toward improving productivity, efficiency, and decisions about purchased products/services. If, however, external factors, such as unusually high laboratory utilization and service-level expectations of the medical staff cause higher-than-average relative laboratory costs, hospital administration and laboratory managers can determine whether those external factors can be modified to reduce laboratory costs without adversely affecting patient care.