Thank you for Subscribing to Med Tech Business Review Weekly Brief

Laboratory Medicine: Efficiency as a Critical Factor for Market Survival


I’ve seen laboratories of all sizes, from small to large, and some aspects were common to most of them at the beginning of the 2000s, when I started my career in a multinational company: very sectorized environments, with little automation, many employees, poorly standardized processes and deadlines for delivering results that would certainly be considered unacceptable today. In addition, the number of manual tasks, from manually identifying collection tubes to paperwork maps and typing up results one by one, made the environment very prone to errors.
With the increasing democratization of information and competitiveness, laboratories have had to work on strategies to differentiate themselves and improve efficiency. The last 15 years have been marked by a search for positioning vis-à-vis the end customer, consolidations between companies, and the consequent emergence of mega labs by a strong movement to modernize methodologies, integrate disciplines, and automate laboratories. In the aftermath, the global health crisis caused by the COVID-19 pandemic and subsequent pandemic has pushed laboratory medicine to adopt innovative techniques, positioning point-of-care methodologies and molecular biology as important tools for increasing emergency response capacity. Considering the changes in the population’s lifestyle and consumption, increased life expectancy, increasingly scarce resources, and the demands imposed by the market, clinical laboratories must be prepared for the very near future. With this regard, it is essential to increase operational efficiency with an eye on long-term results, establishing pillars, targets, and indicators to monitor performance and detect opportunities for continuous improvement. From my point of view, I see seven essential aspects to consider that strongly corroborate increasing the operational efficiency of your laboratory medicine company: 1. Efficient process management Process management impacts and controls what is being produced and offered to the end customer. Managing processes allows the company to promote continuous improvement in line with its strategies and objectives, optimizing costs, time and resources, increasing customer satisfaction and business sustainability. 2. Data-based management Making quick and assertive decisions guarantees a company’s financial success. This is possible when management is based on concrete data. Standardizing procedures and defining strategic and technical indicators optimizes the management of different laboratory processes, helps implement corrective and preventive measures, and monitors the effectiveness of the actions taken. 3. DigitalizationWith the increasing democratization of information and competitiveness, laboratories have had to work on strategies to differentiate themselves and improve efficiency.