Should You Sell Your Hospital Lab Now?
IT’S NO SECRET that the large national lab companies have been actively buying hospital-based labs — and that acquisition prices, in many cases, appear to be extremely attractive.
But is it really a good deal to sell your hospital lab now? Are hospital-based labs FAR more valuable to your hospital than offer prices reflect? Jeffrey A. Downs, and Margaret McMinn, leading lab management consultants, strongly believe they are.
But if they are, how do you unlock that value AND clearly demonstrate to hospital management why selling your lab now may be a major strategic and financial MISTAKE?
Get the FACTS — BEFORE You Sell Your Hospital-Based Lab!
Watch this webinar recording and discover why national labs are buying hospital-based labs … why these labs are “highly-overlooked and greatly under-valued” right now … and what counter-measures EVERY lab director should be taking to fend off an unwise sale. Have you ever asked yourself:
- Why would hospital management sell one of its most profitable business units for a one-time gain?
- Will patients really be better off if our hospital’s network lab is acquired?
- Is there anything you can do to help senior management understand that the lab is the key to unlocking value-based reimbursement?
You’ll get answers to these questions and many more in this close look at the financial and strategic rationale that is driving much of the recent hospital lab M/A activity. Here’s just a sample:
- The reasons behind recent sales of labs: Is it fee schedule reimbursements? Hospitals in financial trouble? Employed-physician practices losing money? Or are there other factors driving hospital lab sales?
- Lab 2.0: It’s NOT about the 2.5% of the spend any more
- Lab as collaborator
- Leadership and getting out of the office
- Lab driven initiatives: what hospital labs of all sizes can do to exploit their existing infrastructure
- The need to understand the value of testing data, tools to harvest it, what to do with it
- ID gaps in testing and care
- Episodes of care vs population health, prognosis and personalized medicine
- Communicating the labs value
- Understanding lab finances and the financial contribution to the health system’s bottom line
- The value of outreach services for enhancing financial performance
- Genetic test gate keeper
- Pitfalls and hidden costs of outsourcing arrangements
- The importance of corporate culture
- Physician lack of satisfaction, POCT and shotgun mentality
- Failed arrangements
- And MUCH MORE!
Questions? Call Customer Service at 855-528-6903.
|About Your Presenters|
Jeffrey A. Downs is the Managing Director for Valley Street Lab Partners, a clinical lab consulting firm specializing in all areas of hospital lab management and lab outreach development since 2010, and its sister company Lab Recruiters, LLC a lab talent search firm. With more than 20 years in laboratory operations, lab finance and consulting, Jeff is an experienced former C-Suite Officer who participated in the development and growth of one of the most successful hospital-based Lab Outreach programs in the US. Jeff knows firsthand how to grow and manage a lab network. He has also participated in more than $400 million in healthcare related buy/sale transactions.
Since 2010, Jeff has become one of the most highly regarded consultants in laboratory management. With experience in corporate startups, turnarounds, mergers, acquisitions, divestitures and growth companies Jeff is ideally suited to help labs at all levels of business maturity to either grow as a stand-alone entity or the formation of joint venture labs.
Margaret McMinn is Senior Director of Laboratory Consulting for Valley Street Partners, LLC. A highly successful former VP of Hospital-Lab Operations, Margaret has more than 30 years laboratory experience. From bench to boardroom, Margaret is regarded as a cost and labor efficiency expert and a valued technical advisor in lab operations.
In previous roles Margaret was the VP of Hospital Lab Operations for Spectrum Laboratory Network, which was later sold to Quest under the name Solstas Labs. In her role, Margaret oversaw the operations of 17 hospital-labs at four health systems which performed millions of tests annual. In addition, Margaret is a blood bank expert, published author and proud alumni of the University of NC at Chapel Hill.