Questions

 

Answers

WHAT ARE THE ESTIMATES ON HOW MUCH HOSPITAL LAB COSTS CAN BE CUT USING THIS PROGRAM? top
There is an opportunity for savings ranging from 8% to 20% depending on several factors including the size of the hospital. However, the savings is really secondary to the opportunities to improve clinical integration of inpatient and outreach testing, and using laboratory information to reduce costs in other areas of the health system, such as Pharmacy, inpatient stays, and managing chronic disease states.

WHO ARE CURRENT CLIENTS? top
We have Laboratory service agreements with 12 hospitals in Hawaii covering 42% of all hospital beds in the state. In addition, Sonic Healthcare manages 19 hospital laboratories in Australia, including a large (over 500 beds) University hospital laboratory.  In England, Sonic manages 4 hospital laboratories ranging in size from 350 beds to over 700 beds, including one of Europe's leading academic hospitals.

HOW IS THE PRICING STRUCTURE? ARE HOSPITALS CHARGED MONTHLY FEES, OR IS IT A PERCENTAGE BASED ON SAVINGS? top
The pricing structure is flexible and is based on the needs of our clients. However, the pricing and cost of our services is only one aspect of a broader plan to work with health systems as a partner, which includes, where appropriate, increasing outreach lab revenues, Physician connectivity solutions, as well as improving laboratory efficiencies.

IS THERE A PARTICULAR HOSPITAL FOCUS-- SUBURBAN/COMMUNITY OR RURAL HOSPITALS OR ALL INSTITUTIONS? top
There is not a particular hospital focus; however, our services will work best with health systems operating multiple hospitals within a specified geographic region.

IS THIS A PRECURSOR TO ACQUIRING SOME HOSPITAL LAB OPERATIONS? top
We do not intend to acquire hospital lab operations. We would prefer to work with health systems as a partner.

WHY SHOULD I JOIN THIS PROGRAM? top
While hospital lab costs can be reduced by 8% - 20%, the main reasons to join the LabSynergy program are:
1) It can cost-effectively help health systems reduce overall healthcare costs in the coming risk-based reimbursement models.
2) The LabSynergy program utilizes evidence based laboratory medicine to improve patient outcomes.
3) It assists in chronic disease management.
4) The LabSynergy program will integrate inpatient and outreach lab testing.