How Hospitals Can Maximize the Value of their Reference Laboratory Partnership

Learn how to reduce reference laboratory costs and improve value of testing

Hospitals and healthcare systems are focused on lowering overall costs while also providing the appropriate diagnostic services to patient. Over the last ten plus years, testing purchased from reference laboratories has increased sharply due to novel genetic testing and the introduction of personalized medicine, which relies heavily on laboratory testing.

Hospital laboratory administrators who perform periodic business reviews will be in a better position to control reference laboratory costs and will be better able to optimize their partnerships with the reference laboratories.

As the nation’s premier laboratory consulting firm, the Nichols Management Group (NMG) takes our mission seriously to advise clients on the identification and implementation of optimal laboratory strategies to reduce risk and improve revenues. Therefore, NMG is offering this complementary white paper, “How Hospitals Can Maximize the Value of their Reference Laboratory Partnership”. NMG has provided immediate benefits to organizations with their reference laboratory opportunities from evaluation, negotiation, implementation, and monitoring support.