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Cost Analysis

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Laboratories are businesses like any other. They must control costs and report on financial performance. Job Cost Analysis is a way to evaluate whether a particular analyzer is performing as expected. The stay in business the laboratory needs to demonstrate a positive financial contribution to the overall organization. Job Cost Analysis usually takes into account:

  • Amortized cost of the machine
  • Reagent cost total and per unit time
  • Disposables cost totasl and per unit of time
  • Number of tests per unit of time by day, month, quarter, year
  • Expected (or actual) reimbursement per test
  • The cost of technician time

Many offices employment a Laboratory Information System that keeps track of materials, Reagents, Disposables so that Job Cost Analysis becomes easy for the laboratory.