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Instructions: Perform a cost per test analysis for your laboratory. Your laboratory is changing its method for the analysis of Glucose. As laboratory manager you
Instructions: Perform a cost per test analysis for your laboratory. Your laboratory is changing its method for the analysis of Glucose. As laboratory manager you are asked to perform a cost analysis for the new Glucose method. Your laboratory reports 40 glucose tests daily. The cost of reagent for glucose testy is $70/100 tests. You must calibrate your method twice a year, running calibrators each time. 2 control specimens are analyzed are analyzed on a shift (2 - 12 hour shifts per day). Proficiency tests (5 specimens) is performed times per year. 15 tests per month must be repeated each month De must be repeated each month because of problems with your analyzer or they are above the linearity of the instrument. analyzer had a cost of $350,000 and has a life expectancy of 5 years. These contract on this instrument is $6000 annually. 500,000 total chemistry tests are performed on this instrument per year. The total number of reportable tests the laboratory is 1,750,000 annually. The following are annual fixed indirect) costs for the laboratory. Administrative/supervisor salaries and benefits: $2,600,000 Utilities: $45,000 Non-medical supplies: $34,000 Regulatory compliance (CAP, etc.): $59,000 Travel, education, professional development: $10,000 The "hands-on" tech time (in minutes) to prepare an instrument for glucose testing is (shift): Prepare specimens: 15 minute Prepare reagents: 10 minutes Prepare instrument: 10 minutes Computer setup: 15 minutes Documentation of results/quality control/maintenance: 10 minutes Clean-up: 10 minutes The consumables needed to perform the test are 1 disposable pipets ($10/100 pipets) and 1 disposable reagent cup ($10/200 cups). The control material (high and low) is priced at $20/mL. 0.05 mL of specimen is required per test. Tech salaries average $20/hour. 7) Calculate the cost per reportable glucose test. 5 points 8) If the lab marks up each test by an additional 50%, then what is the cost for a glucose test that is billed to the patient? - 5 points 9) What would be the cost per test if you did 100 glucose tests per day? (Assume the number or repeat testing is unchanged) - 25 points Instructions: Perform a cost per test analysis for your laboratory. Your laboratory is changing its method for the analysis of Glucose. As laboratory manager you are asked to perform a cost analysis for the new Glucose method. Your laboratory reports 40 glucose tests daily. The cost of reagent for glucose testy is $70/100 tests. You must calibrate your method twice a year, running calibrators each time. 2 control specimens are analyzed are analyzed on a shift (2 - 12 hour shifts per day). Proficiency tests (5 specimens) is performed times per year. 15 tests per month must be repeated each month De must be repeated each month because of problems with your analyzer or they are above the linearity of the instrument. analyzer had a cost of $350,000 and has a life expectancy of 5 years. These contract on this instrument is $6000 annually. 500,000 total chemistry tests are performed on this instrument per year. The total number of reportable tests the laboratory is 1,750,000 annually. The following are annual fixed indirect) costs for the laboratory. Administrative/supervisor salaries and benefits: $2,600,000 Utilities: $45,000 Non-medical supplies: $34,000 Regulatory compliance (CAP, etc.): $59,000 Travel, education, professional development: $10,000 The "hands-on" tech time (in minutes) to prepare an instrument for glucose testing is (shift): Prepare specimens: 15 minute Prepare reagents: 10 minutes Prepare instrument: 10 minutes Computer setup: 15 minutes Documentation of results/quality control/maintenance: 10 minutes Clean-up: 10 minutes The consumables needed to perform the test are 1 disposable pipets ($10/100 pipets) and 1 disposable reagent cup ($10/200 cups). The control material (high and low) is priced at $20/mL. 0.05 mL of specimen is required per test. Tech salaries average $20/hour. 7) Calculate the cost per reportable glucose test. 5 points 8) If the lab marks up each test by an additional 50%, then what is the cost for a glucose test that is billed to the patient? - 5 points 9) What would be the cost per test if you did 100 glucose tests per day? (Assume the number or repeat testing is unchanged) - 25 points
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