Business Operations
Business Evaluation & Analytics
Considering the feasibility of bringing testing in-house? We believe in establishing a robust business model for toxicology labs, starting with clinical operations and patient-centric testing policies.
By analyzing the payer mix associated with your patients and assessing the business potential, we factor in the costs of lab operation, ensuring a comprehensive understanding of the venture’s complexities.
Unlike competitors who offer simplistic ROI sheets with fixed assumptions, we conduct a thorough investigation into patient population needs, testing policies, and payer mix, providing a dynamic financial modeling engine to adjust variables for more realistic average reimbursement rates.
This meticulous evaluation, encompassing independent labs, large hospital groups, and small physician groups, allows us to jointly assess the risks and benefits associated with opening a lab before any financial commitment. We only proceed with projects when there is a clear advantage to both patient care and your business, providing honest advisories when risks outweigh benefits.
Operational Efficiency
Quasar will assist you with optimizing your laboratory operational efficiencies. This involves streamlining processes, leveraging advanced technologies, and implementing best practices while ensuring quality, accuracy, speed, and cost-effectiveness in your toxicology testing are not compromised.
We will evaluate your workflow, automation opportunities, and opportunities for efficiency improvements. We aim to minimize bottlenecks and redundancies, and assess potential for cost reduction through resource optimization, reduced errors, and increased throughput.
Operational Cost
Minimizing operational costs is critical to all businesses. In the laboratory business, operational costs are not just simply the cost of consumables but are also the operational impact of those consumables. The old adage of tripping over a dollar to save a penny holds true.
When we evaluate a customer’s consumable costs, we do it in a way that factors in the true cost of the consumables. We factor in the risk of needing to do re-runs, the consistency of the results, the maintenance impact on the equipment. All these factors impact the operational costs for a lab beyond just the cost of the consumables themselves.
Our goal is to get the most value out of the consumables that our customers purchase without impacting results or operational efficiencies.