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May 2019

Benchmarking Service

Nichols Management Group

LabScore from Nichols Management Group provides laboratory organizations with productivity and cost comparisons to institutions that are similar in size and acuity, using both published industry standards and internally developed productivity metrics based on lab complexity. The system examines individual laboratory departments, including reference laboratory spend, to identify hidden opportunities for improvement. Designed for organizations ranging from community hospitals to large integrated academic medical centers with multiple locations, LabScore will provide productivity metrics based upon the organization’s test mix and service menu. Esoteric testing comparison is available in cytogenetics, HLA, and flow cytometry. LabScore will identify opportunities for both savings and productivity, utilizing reports that include a series of key performance indicators. The system provides current performance ranking, along with a narrative that offers insight and recommendations for improvement.

Nichols Management Group

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