NextLOGiK Tool Helps Medical Practitioners Evaluate the Business of Providing Near-Patient Testing
LabClarity provides insight for lab managers and/or owners, helping them explore ways to maintain or improve the business of their laboratory testing activities.
Cost-benefit ratios must be evaluated in order for small to mid-size medical practitioners to provide onsite lab testing. LabClarity is a cost-analysis tool to help these practitioners better understand the cost effect of conducting near-patient testing in their lab.
Medical practices will quickly gain a perspective on their business that typically is reserved for larger lab testing operations, according to the company.
LabClarity helps practices assess their composite costs in providing a varying array of lab tests by evaluating differing scenarios of procedure methodology, personnel utilization, and reimbursement. The goal is to assist small to mid-size practices in planning new procedure/testing implementation by providing profit/loss information for their lab activities so that they can begin to provide, or continue providing, near-patient testing in a cost efficacious manner.
It is estimated that the information obtained from the clinical lab plays a pivotal role in 60% to 70% of medical determinations. Near-patient testing allows more immediate decisions to be made by the practitioner, and also allows face-to-face interaction to be made with the patient when explaining the lab test results. These factors have been shown to increase patient compliance with a therapeutic regimen.
Rapid availability of lab test results also enables more efficient use of practitioner time and leads to a reduction in errors and omissions. Overall patient satisfaction with the practitioner and the medical practice are enhanced when lab testing results are delivered to the patient in a timely fashion.