Improving Performance Through Laboratory Analytics

Supply management, risk analysis, and staffing and workload balancing are regular tasks for laboratory administrators and department supervisors. However, as laboratory administrators struggle with both the flood of COVID-19 testing and the healthcare industry's shift from fee-for-service to value-based reimbursement, controlling these areas of operational performance has grown even more difficult. For these reasons, it is now more crucial than ever to identify and manage change by making data-driven decisions based on laboratory analytics. Laboratory managers can take control of their data thanks to laboratory analytics, which puts data at their fingertips with reports that can be produced on demand or scheduled as needed. Laboratory managers may make quicker, more practical judgments on process improvement solutions by automating this procedure, which typically take days or weeks to complete manually. By utilizing the power of data to enhance operational effectiveness, financial performance, and productivity, data management and analytics play a crucial role in assisting labs with the transition to value-based care.

Utilizing laboratory analytics software to forecast workload assists managers in staffing during a period of uncertainty

In addition to the ongoing demands for COVID-19 testing and the financial burden brought on by the pandemic, labs are always being requested to do more with less. The workers in the laboratories are overworked, under stress, exhausted, and worried about COVID infections. Analyzing laboratory data can assist increase productivity by revealing the necessary workforce levels depending on various laboratory parameters. The laboratory can track its personnel requirements by workstation, department, day of the week, time of day, test, patient location, and priority thanks to analytics software. Lab analytics software can produce a report that shows by hour of the day where staffing modifications may be required once a user picks the criteria.

Improving test usage to improve financial performance during and after COVID-19

The management and support of lab use stewardship is significantly aided by hospital laboratory analytics software. Laboratory test utilization reports present the data from the laboratory in a way that highlights wasteful testing and reveals the areas where there is the greatest potential for corrective action. The laboratory is ultimately sitting on a wealth of data that has the potential to save the health system thousands or millions of dollars in unneeded lab testing, which is crucial as value-based payment becomes more prevalent. Laboratory administrators can independently produce reports using data analytics to find the sources of wasteful testing right away.

Conclusion

Using hospital laboratory analytics to manage patient and sample data is a crucial step towards obtaining information as soon as it's required. For laboratory reporting, laboratory leadership shouldn't have to rely only on IT; instead, labs should have access to their data whenever they need it. Daily laboratory monitoring by lab management enhances operational and financial performance while freeing up important time for better patient care and quality. Using analytics software for hospital laboratories, laboratory management may track key performance indicators and guide their employees to higher standards of best practices. Ultimately, laboratory analytics enable the lab to become a partner and asset for the entire hospital, enhancing patient safety and satisfaction both during COVID-19 and beyond. you can cehck Laboratory Data Analytics training course, to develop your skills in the field