Question 1

How do I know if LabMetrics Consulting is a good match for my business?

Accepted Answer

As laboratory consultants, we provide a full range of “end-to-end” services for all types of laboratories, from start-ups through complex consolidation, outreach, and disruptive improvements. In addition, we can assist laboratories and healthcare organizations with a variety of their staffing needs. Contact Us to discuss your situation confidentially and professionally to advise you if LabMetrics Consulting is the best fit for your business and project needs.

Question 2

Are projects performed onsite or done remotely?

Accepted Answer

LabMetrics Consulting strives to minimize the cost and expense to our clients. Many projects can be done remotely via teleconference and/or Web meetings. As the project needs dictate, our consultants will travel and work onsite. Being on site for a presentation is always an option you can elect. If the project will require onsite work, it will be clearly indicated in the final agreement including the reimbursement of third-party expenses.

Question 3

How do you define the scope and price of my project, i.e. Start the process to get information about my specific project needs?

Accepted Answer

We have fixed fee and hourly fee models and are happy to discuss and provide an estimate using a simple, straightforward 3-Prong approach to guide you from project conception to project commencement.

Introductory phone call.
Provide you with a proposal outline.
Provide you with an engagement agreement (as requested).

It is important for us to first understand your individual situation to scope the engagement appropriately. This generally involves a brief phone discussion about your project goals – including business and personal goals, the desired timeframe, budget constraints and other relevant topics. Within 1-2 days, we then provide you with a proposal outline via email from which the project scope and pricing can be refined. From this, you can decide to move forward with the project, at which time we would provide you with an engagement agreement to execute and commence work.

Question 4

We are a group of physicians considering building our own patient diagnostic service center (PDSC) to provide in-house imaging and laboratory testing needs. Can you help?

Accepted Answer

Yes. We have assisted groups like yourself developing the business plan/feasibility study to fully understand the startup costs and revenue expectations, work through compliance and regulatory issues, identify your ideal test menu matched to the appropriate diagnostic equipment, overcome interoperability/connectivity issues with EMRs, etc. We also provide startup build services, lab management, and medical director assistance.

Question 5

We are a multi-hospital system all running duplicate lab services across the enterprise. Can you help us elevate and determine the best way to consolidate these services either through a core lab, virtual core lab, partnership, and/or outreach expansion to reduce costs and improve our bottom-line?

Accepted Answer

Yes. This is a core offering. We have assisted many types of systems (academic medical centers, hospital systems, commercial labs) evaluate their current lab operations and make the best recommendation – which is not always core lab consolidation. We evaluate all aspects of your lab including staffing, test menu, testing capabilities, capacity, facilities, competition/market, information technology, automation, contracts/arrangements, pathology, etc.

Question 6

We are a pathology group trying to retain our income and/or expand our services. Can you help?

Accepted Answer

Yes. We have associates with considerable pathology expertise having built and run their own practices and pathology labs. We can guide you on strategy as well as organization, staffing, operations, marketing and other improvements. We also can advise you on the latest pathology business models and trends including exciting opportunities relative to virtual pathology services to retain your clients and expand your market by offering the very best sub-specialty services w/o the direct overhead associated with hiring and retaining personnel. Contact us today to set up a call with our experts to discuss confidentially your practice/lab needs.

Question 7

I feel our lab is not large enough to have a full-time CIO, but we are in desperate need of IT strategy, direction and oversight. Can you help?

Accepted Answer

Yes. This is a core service offering and we can structure a very cost-effective agreement that will provide you access to a “virtual-CIO”. Contracts can be tailored to provide your organization with a CIO presence that can be used to address high-priority needs. Often clients engage our virtual-CIO service and have the first order of business be to conduct an IT readiness assessment (security and technology) to develop a list of gaps that are prioritized and used as the basis of the work plan for the term of the engagement. Another popular offering is providing interim CIO services to support a strategic expansion, e.g. acquisition due diligence and integration, staffing assessment, etc. with the intent to find a permanent replacement. There are many other models that can be tailored to the specific needs of the organization.

Question 8

I am a startup lab and need assistance with my billing and financial management. Can you help me with this?

Accepted Answer

Yes. This is a core service offering which can be done either through a fixed-fee to help identify, evaluate, select and implement your billing service – or – a monthly retainer to provide oversight, guidance, and management of your billing department.

Question 9

I have patented a product and need help conducting further research and/or commercializing it to market. Can you help me?

Accepted Answer

We have assisted many clients as yourself with purchasing a lab that will continue to generate a revenue stream while you set up a research arm. We can help you formulate a comprehensive commercialization strategy and assist with operationalizing and implementation. If you already have a valid plan, we can review/refresh and fast-track you into the implementation phase.

Question 10

I am considering a new startup lab and need assistance with my ideas to develop a realistic business plan on a limited budget. Can you help?

Accepted Answer

Yes! We often work with startups in this situation, providing a more limited role acting as an advisor to you.

Question 11

I need a project completed in a week or less. Can you help me?

Accepted Answer

As consultants, we understand the need to work quickly and are willing to discuss your project and its timing. Often these “requests of urgency” can be worked out by having someone onsite ASAP to get things rolling. However, most projects are not done in that short of a timeframe. Typical engagements range from ~4 weeks to months for larger efforts.

Question 12

What is your service area?

Accepted Answer

We have clients across the United States, as well as in North America, Europe, Africa and Asia.

Question 13

Do you work with non-profit organizations?

Accepted Answer

Yes. Our clients are both non-profit and commercial/for-profit businesses including startups. Our skills and expertise come from both profit and non-profit backgrounds and we understand the unique needs, culture, and goals of each.

Question 14

Why do you not provide project details about clients on your website?

Accepted Answer

Most of the work we perform for our clients is highly confidential, therefore we cannot/don’t divulge this level of information about them beyond their name and location

Question 15

What is your approach to providing a solution for our compliance deficiencies?

Accepted Answer

Compliance is no longer something a laboratory can afford to softly address. It is critical to have a formal compliance program in place which is a prerequisite to changing the organization’s culture to be compliant at all levels and all aspects of its operation. We provide cost-effective compliance assessments for laboratories of all sizes and types which typically can be done in 1-2 days onsite. The deliverable is an easy-to-read and understand scorecard detailing relevant compliance issues, your status, and recommended course of action. In addition, we can provide annual/periodic compliance assessments to gauge your improvement and keep you abreast of the plethora of advisories. We can also develop your compliance program/manual and provide you with interim compliance officer staffing.

Question 16

My company has intellectual property and/or very proprietary information. Are you willing to execute a non-disclosure agreement (NDA)?

Accepted Answer

We are happy to review and execute reasonable NDAs with you. We protect our client’s confidentiality through our standard contract.

Question 17

Do you provide client references?

Accepted Answer

Yes. Due to the highly confidential nature of our work with some clients, it is not possible to provide direct references at times, or the reference will limit confirmation of hiring LabMetrics Consulting but not discuss the nature of the engagement in detail. If you become an LMC client, we would extend the same level of respect and confidentiality.

CONTACT

855.452.2638

EMAIL

jsundberg@labmetrics.com

FREQUENTLY ASKED QUESTIONS

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Contact us today to see how our lab assessments can help you.