Volume : VII, Issue : III, March - 2018

Reagent Rental Re–Negotiation As A Cost Cutting Measure In A Microbiology Laboratory

Dr. Akash Anand, Dr. Puneeth T. , Dr. Sudhakar Kantipudi

Abstract :

 

With revenues shrinking, laboratories must constantly seek ways to reduce the costs of doing business while still remaining competitive in terms of test offerings. Many laboratories have found that reagent rental contracts with diagnostic manufacturers provide a viable solution for cost reduction.

Materials and Methods:

The study is a cross sectional study. One equipment was selected from the list of equipment that were under reagent rental agreement. The reagent rental agreements with the vendor of the equipment were studied with reference to the value of reagents that was committed to be purchased from the vendor per year. A comparison of the monetary value committed under the agreement and the value of reagents purchased was done.

 

Observations and Results:

Under the agreement an equipment was given to the laboratory in lieu of purchase of reagents from the vendor. A minimum amount of value of reagent was mutually agreed upon.

On analysis of data it was observed that the laboratory had purchased reagents worth 69% more than the minimum agreed amount over the period of contract of 4 years. Therefore, the hospital paid for the equipment almost twice during the period of contract as the cost of equipment is a part of the reagent cost.

 

Recommendations:

Based on the findings the following recommendations were made:

  • Reagent rates should be revised and the minimum purchase amount should be raised.
  • Whenever there is increase in the rate of reagents renegotiation should be done and the organisation should approve the increased rate.
  • The value of the equipment should be comparable to the worth of reagent being purchased.
  • Regular audit about the value of reagents paid to be done.

Keywords :

Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

Dr. Akash Anand, Dr. Puneeth T., Dr. Sudhakar Kantipudi, Reagent Rental Re–Negotiation As A Cost Cutting Measure In A Microbiology Laboratory, INTERNATIONAL JOURNAL OF SCIENTIFIC RESEARCH : Volume-7 | Issue-3 | March-2018


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