How to Take Financial Control of Your Lab

Managing an outreach laboratory requires more than just sound technical skills. It also requires an firm understanding of the various financial components that affect the way a lab operates and performs in order to demonstrate, and prove, the positive financial impact of an outreach program.

Consistently quantifying an outreach lab’s revenue, costs, and profitability and effectively communicating those numbers to senior leadership is just as important as managing the lab’s day-to-day testing operations.   

Learn more about establishing financial discipline in your lab by reading this article from Mayo Clinic Laboratories.

Cory Pedersen

Cory Pedersen is a senior marketing specialist for Mayo Clinic Laboratories.