Boost Medical Lab Vitality with Better Control of Your InventoryBoost Medical Lab Vitality with Better Control of Your InventoryBoost Medical Lab Vitality with Better Control of Your Inventory

Having a profitable medical laboratory depends on properly managing all aspects of inventory control.

Understanding what your inventory costs are, allocating inventory costs to specific cost centers, replenishing inventory efficiently, handling reagents properly, managing vendor contracts and calculating test costs are just some of the unique challenges testing laboratories face. Check out sideeffects.com.

So, who cares about controlling costs in a medical lab? Everybody should!

For the stockholder or owners of the company, unnecessary inventory costs are eating away at profits. But the skyrocketing costs of healthcare affects everyone – consumers, other healthcare organizations, and every business that provides healthcare insurance to its employees. So, let’s look at some of the ways to control inventory costs.

1. Make Sure You Don’t Have Excessive Inventory

Start with a software solution that tracks inventory in real-time – a must for controlling costs. Beyond that, however, we find many laboratories have each test area maintain their own bench inventory.

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