How to Calculate Lab Test Costs: A Step-by-Step Guide with Pathologist Dr. Ankur Singh

Join Dr. Ankur Singh, a seasoned professional in laboratory management, as he delves into the crucial topic of understanding and calculating laboratory test costs. In this insightful discussion, Dr. Singh shares his expertise on the factors influencing the cost of lab tests, including fixed and variable expenses such as facility rent, utilities, reagents, and consumables. Gain valuable insights into different costing methodologies, such as time-driven activity-based costing and test ingredient costing, and their impact on cost calculation. Uncover the significance of accurately accounting for fixed and variable costs in lab testing and the implications of these costs on budget control. Dr. Singh also presents a practical case study, analyzing the fully loaded costing method for a specific test, and offering real-world application of the discussed concepts.
Gain a comprehensive understanding of the cost breakdown for lab tests, including space rent, software, administrative expenses, and manpower, and learn how these factors contribute to the total cost per test. Dr. Singh also touches on important strategies to mitigate costs, such as renting instruments and property and maximizing the use of equipment for multiple tests.
Don't miss this compelling discussion on a topic vital to laboratory operations. Enhance your knowledge of laboratory test cost calculation with Dr. Singh's expertise and practical insights.
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