Nichols Management Group LabScore

The Nichols Management Group has announced the launch of LabScore, a proprietary benchmarking service that provides laboratories with productivity and cost comparisons to institutions that are similar in size and acuity. LabScore uses published industry standards and internally developed productivity metrics based on lab complexity to benchmark lab services. LabScore can drill down into individual laboratory departments, including reference laboratory spend, to identify opportunities for improvement and provide metrics based on a lab's test mix and service menu. LabScore can be used by a variety of types of laboratories, including community hospitals and large academic medical centers with multiple locations. Esoteric testing comparisons are available in cytogenetics, human leukocyte antigen testing, and flow cytometry.