Long-Term Health System Strategy: Are You Optimizing Your Lab as a Strategic Asset? Buy, Sell, Merge, or Outsource
During a roundtable session at Becker’s Hospital Review’s 12th Annual Meeting sponsored by Accumen — which partners with executives at U.S. hospitals to address complex issues in lab, patient blood management, and imaging — BG Porter, CEO of Accumen, led a discussion about assessing the potential of hospital laboratories with a group of lab experts:
- Jeff Downs, Vice President of Strategic Relationships, Accumen
- Christal Contini, Partner, Mergers and Acquisitions Practice Group, McDonald Hopkins
- Tom Hirsh, Senior Advisor, Coronis Health
- Joe McGann, Vice President, and General Manager of Laboratory Operations, Accumen
Clinical labs affect 70 percent of medical decision making and touch every aspect of healthcare, according to the leader of a lab management and consulting firm. Underutilized capacity within hospital and health system labs have the potential to be a strategic asset that can drive revenue and growth. Optimizing the lab as an asset can provide a consistent revenue stream at a healthy margin. Alternatively, some hospitals and health systems may also contemplate selling their lab or partnering with a private lab company, which comes with tradeoffs.
