Laboratory Outreach Success with eValuate

To expand the reach of their services, enhance patient care, and generate additional revenue, laboratories can engage in outreach programs.  Using eValuate, laboratories can effectively manage and report on these outreach activities, gaining detailed financial and operational insights.  Here is how eValuate can ensure the success of your outreach programs:

Cost Management

Uncontrolled costs can quickly derail the success of any outreach program, making cost management key to their sustainability.  By analyzing the costs and activities, eValuate helps laboratories accurately calculate and control their costs.

Cost per test

eValuate offers a reliable and repeatable cost-per-test calculation, helping laboratories understand all expenses related to outreach activities.   These include transportation, logistics, marketing, and additional client services, ensuring a comprehensive view of the financial inputs involved.

Cost allocation

By understanding where and how costs arise, laboratories can develop more effective implementation strategies, such as cost sharing and optimization.  Detailed cost allocation helps identify cost-saving opportunities and enhances the overall efficiency of outreach activities.

Volume and Profit Evaluation

Assessing test volumes and profitability is essential for planning and managing outreach programs.  eValuate provides detailed insights into these aspects, ensuring laboratories can operate efficiently and profitably.

Volume and Profit Analysis

eValuate provides a combined scatterplot that visualizes both test volumes and profitability.  This chart helps laboratories identify high-volume, high-profit tests, including areas where low volume or low profitability may indicate opportunities for improvement or cost reduction.  The scatterplot provides a clear visual, making it easier to spot outliers and opportunities for strategic adjustments.

Profitability Analysis

eValuate compares revenue and costs to assess the profitability of outreach tests.  This analysis helps labs identify which programs are financially sustainable.  By identifying high-performing tests and those needing adjustments, laboratories can make strategic decisions on resource deployment and increase marketing efforts on profitable tests and services.

Comparative Analytics

eValuate's internal comparative analytics allow performance comparisons between outreach sites and workstations.   By benchmarking performance internally, laboratories can identify best practices and areas for improvement within their network.

Detailed Reporting

eValuate generates detailed reports on various aspects of laboratory operations.  Including the outreach programs, a clear picture of the financial performance is gained, aiding in informed decision-making.

eValuate Reports

eValuate includes reports from site, department, and workstation overviews to detailed reports for tests, allowing for transparent financial reporting for an outreach program.

Performance Metrics

The platform reports on key performance metrics, including cost per test, revenue per test, and profit percentage, from organization to test level.  These insights offer valuable insights into the outreach programs' overall performance.

Decision Support

Decisions informed by actionable information will ensure successful outreach programs.  eValuate aids in strategic planning and operational adjustments, enabling laboratories to adapt and thrive in a competitive environment.

Data-Driven Insights

eValuate provides data-driven insights that support informed decision-making regarding adjustments to outreach activities.  Financial and operational impact analyses of activities will inform strategic planning and resource allocation.

Strategic Planning

Using the insights from eValuate, laboratories can plan strategic initiatives to enhance their outreach programs.  These include identifying trends, opportunities, and potential challenges to ensure a proactive approach to outreach management.

Conclusion

With eValuate, laboratories can better understand their financial and operational performance regarding their outreach programs.  These will enable them to make data-driven decisions, optimize resource utilization, and enhance service delivery.

By integrating eValuate and effective cost management into the decision-making process, a laboratory can accurately allocate costs, optimize operations, and strategically price its services, leading to enhanced service quality, improved client relationships, and competitive pricing essential for successfully incorporating the sale of spare capacity and specialty testing within an outreach program.   The laboratory can effectively leverage its existing resources, enhance its reputation, build a robust network of client laboratories, maximize utilization, and foster long-term partnerships and market presence.