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A Business Perspective of Laboratory Outsourcing Arrangements

 

Outsourcing laboratory services can produce short-term cost savings with long-term consequences. This presentation will describe economic and other factors that drive outsourcing arrangements, as well as economic and operational risks. Presenters will also discuss ways to articulate the value of the laboratory to administrators and executives.

This video lecture is part two of a three-part series entitled "Don't Sell Your Lab Short."




Originally presented on May 22, 2019, in Salt Lake City, Utah.

Lecture Presenters

Golden Welch, BS, MT(ASCP)

Golden Welch, BS, MT(ASCP)

Manager of Market Research
ARUP Laboratories

Golden Welch has been with ARUP since 2002. He earned his bachelor’s in clinical laboratory science from Weber State University and has 12 years of experience as a medical technologist and technical specialist. As manager of market research, Golden is responsible for monitoring laboratory economic activity, performing healthcare data analysis, and modeling strategic partnerships.

Sandy Richman, MBA, C(ASCP)

Sandy Richman, MBA, C(ASCP)

Director of Consultative Services
ARUP Laboratories

Sandy Richman has nearly 20 years of combined clinical, financial, and consulting experience in the healthcare industry and is currently the director of Consultative Services for ARUP. In addition to the numerous roles Sandy has held at ARUP, he has seven years of additional healthcare consulting experience. Prior to joining ARUP, Sandy was vice president of Healthcare Advisory Services for PNC Healthcare. In this role, he worked closely with leadership teams from hospitals across the country to improve their revenue cycle and treasury management operations. Sandy also has extensive experience assisting hospitals with ED improvement, strategic planning, financial analysis, strategic pricing, operations improvement, and market research. He holds an MBA from the University of Utah, is board certified as a technologist in chemistry by the American Society for Clinical Pathology, and is a frequent speaker for the Healthcare Financial Management Association.

Objectives

After this presentation, participants will be able to:

  • Identify key factors that influence outsourcing arrangements
  • Describe the economic and operational risks of these arrangements
  • Describe ways to articulate laboratory value to key stakeholders

Sponsored by:

University of Utah School of Medicine, Department of Pathology, and ARUP Laboratories