Clinical Labs Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Clinical Labs Case Solution

INTRODUCTION TO THE INDUSTRY OF CLINICAL LABORTORIES

The organization for the SWOT analysis is Boston clinical laboratories. Before we conduct an industry analysis of Boston clinical Laboratories, let us first discuss and analyze the clinical service industry and the ongoing trends.

Laboratory services are the key of the healthcare system and an important part of commercialization of vitro tests. It is estimated that approximately 80% of the physicians’ diagnoses are the results of laboratory tests and a fair number of these tests are sent to clinical lab service providers.Recently, there has been a constant pressure to reduce healthcare spending, and that in turn is shifting healthcare utilization in the favor of the laboratory. This trend has not escaped the attention of major competitors who operate in the industry, and those who are planning to enter.

In 2011, the majority of diagnostic services were held by the US and Europe.There has been a growing trend in the industry for diagnosis and testing services.

Trends in Clinical service industry

With time and economic growth, the trend of spending on health care is changing. It is shifting towards an increasing demand of clinical laboratories, which provide efficiency and effectiveness simultaneously. Some of the industry trends which lead to the growth in the market of the US are:

Movement towards point of Care Testing

There has been an increasing trend in the US industry for getting tested whenever the patient visits the doctor.The patients are found reluctant to go to hospitals to get tested, instead they feel facilitated and comfortable in getting tested from clinical laboratories.

Need For Speed

While the industry is growing, there had been much technological advancement in the field of clinical laboratories,the processes have become efficient and faster, giving people convenience and ease in collection of the reports. The patients’ preference has changed due to efficiency and has resulted in the accuracy of reports, which are performed by the local clinical laboratories.

Aging Population

In the US, according to the consens us 2015, the majority of the population is in the age bracket of 50-60 years, who are busy in their daily life and want everything on the go. Going to the hospitals and waiting in long waiting line makes people deviate from hospitals and thus, the clinical services emerged to which the people of the US switched immediately.(Lewand rowsk, 2012)

Diseases and testing Venues

About 18% of the youth in the US, and 22% – 26 % of the people in the age bracket (50-60) are suffering from chronic diseases, and heart diseases. This trend has greatly enhanced the healthcare industry. Due to this trend, people gettested on a monthly basis but from the local clinical centers.(Information, 2015)

Future of Independent Laboratories’ in US

The interplay or competitive balance between independent laboratories and hospital labs in the United States merits the attention of new entrants and analysts as the future of the clinical testing will be overwhelmingly shaped into two segments. After the contraction in the industry by 5%, the analysts suggest the growth for independent labs. The affordable care act will create opportunities to expand for all labs, though large independent labs are in the best position to secure new business, however hospital labs will be at a competitive disadvantage with typically higher test prices.(Esalazar, 2014)

Boston clinical services- An overview

Boston Clinical services was founded in 1999.The. company is registered to perform the laboratory activities. The company has 50 employees with the revenue of $880,000 yearly. The headquarters of Boston clinical laboratories is located in Newton, MA.

Services

The company provides multiple services; among them some of the eminent services are such as; EHR, Lab Tests, Courier Service,Phlebotomy,Online test results........................

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