Profitability

New breakthroughs in science are creating new opportunities for laboratories to form partnerships with researchers in academia, traditional laboratories, business, and venture capitalists.

Getting there, however, will require a new way of looking at processes, new methodologies, new business models and will require significant investments. Investors, eager to bring new scientific breakthroughs to market, realize that development and research in laboratories could lead to the next innovative treatment against deadly and debilitating diseases.

It is a fiduciary relationship in which professional expertise is privileged to “coach” partners on the basis of expert knowledge and to make decisions that advance the business’ best interests.

These new business relationships are often foreign to laboratory managers. The ability for a laboratory to take advantage of these financial opportunities, through partnerships and venture capitalists, involves aligning science’s evolving demands in ‘omics with the needs of business investors. Our expertise involves matching specific businesses and investors with opportunities that can be harnessed within laboratories. More specifically, we help to manage the needs of the business against the needs of science, with compassionate care of human lives.

We can help a laboratory make the shift from process to profits, by re-framing the laboratory to encourage a culture that welcomes and promotes the sharing of insights and ideas.

Specifically, we can help bring this shift by specifically training staff to:

  • Negotiate with vendors and leverage buying groups – potentially saving millions
  • Choose investors who challenge you and add value beyond money
  • Reveal unnecessary tests/non-profitable tests
  • Inspire staff to share ideas and to work collaboratively
  • Pay attention to streamlining processes, focus on stock control and paperwork reduction
  • Ensure your team has the knowledge to sustain current operations and can recognize future opportunities