Do you remember the rise and fall of Theranos? When looking back to their earliest days, it’s understandable why so many very savvy investors jumped on board the Theranos train. The truth is that they were absolutely correct about one thing: it makes no sense for all lab testing to be done at the big, centralized lab facilities. Instead, accessibility, quality and cost should be the key drivers in lab testing as it relates to providing patient care.  How does the lengthy process of sending specimens across the country to expensive labs that are billed out of network create a positive experience for physicians or patients? The short answer is that it doesn’t. That’s why more and more hospital systems, ACOs, addiction treatment facilities and physician groups are bringing ancillary lab services in-house.  There are three important issues this approach solves:

With an on-site lab, you can almost entirely eliminate patient mix-ups, lost samples, “QNS” or leaked specimens in transit.  Plus, having control of maintenance and quality checks improves patient care and the accuracy of results.  

Setting your own turnaround time and never again having to call into an automated system to get an ETA on your patient results creates peace of mind.  As a general rule, health care providers tend to be smart, focused, and working on time-sensitive issues.  Running your own samples means no more having to wait in line to get results, plus it allows you to prioritize emergencies for even faster results.  

High-priced third-party labs with huge sales and marketing budgets inflate costs for the entire system. 

Every reputable analyst in the country will tell you that the health system is moving toward value-based reimbursement.  In the near future, providers are going to be saddled with the expectation of bundled payments for treating different disease states.  With laboratory medicine playing a key role in virtual any diagnosis or treatment plan, it’s fair to expect more integrated care systems with end-to-end capabilities to play an increasingly prominent role in the future of our health care system. 

You don’t need a “micro lab” to bring an affordable, accessible, high-quality laboratory into a practice.  The economics of an in-house lab work great for most practices and often provide substantial ancillary revenue opportunities while simultaneously setting the practices up for long-term financial success. Stop letting the big reference labs eat your lunch.  Let us and our partners help you build your own in-house lab and recapture that revenue that the big companies have been taking off your hands.

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