One of the best options for increasing your laboratory’s profits is to decrease your costs. You don’t need to sacrifice the quality of your work—follow these top money-saving tips for clinical laboratories.
1. Hire a Part-Time Lab Director
One of the best ways to save money in your lab is to hire a CLIA-accredited part-time lab director. In most states, directors can oversee up to five laboratories, and many directors take advantage of this opportunity. A director might take a part-time position to supplement their full-time income or to decrease their work hours per week. Rather than compensate a full-time director, consider hiring for a part-time position to save money while still meeting accreditation standards.
2. Compare Vendor Pricing
Another top money-saving tip for clinical labs is to compare vendor pricing for equipment and supplies. Whether you’re buying advanced equipment for a well-established facility or equipment for a startup lab, shopping around can save you a lot of money. One possible trick you might use for shopping around is to go through a lab consulting firm. An experienced firm will have strong connections with vendors, making it easier to negotiate prices.
3. Conserve Energy
While all businesses can benefit from lowering their electric bills, labs use an especially high amount of power. Make your lab more environmentally friendly and reduce wasted energy. Turning off devices when not in use and putting equipment in sleep mode are two simple everyday steps your lab can take. You can also buy energy-efficient equipment and keep up with maintenance to reduce energy consumption.
4. Simplify Processes
Save time and money by streamlining your lab operations. Start by assessing cost and performance data to determine where you should focus on improving—perhaps you have issues in your supply chain or see opportunities to improve your labor productivity.
Next, communicate the intended changes to leadership and staff. Create a trusting and positive work relationship by clearly communicating new processes and procedures you will implement. Finally, implement your plans and monitor the outcomes.