molecular pathology software

40 KPIs Molecular Labs Should Use

Key performance indicators (KPIs) are metrics put in place to provide transparency within your laboratory, help avoid pitfalls, and help achieve your overall business objectives.

Here at NovoPath, our clients use KPIs to assess the performance of their IT systems, equipment, interoperability, staff, and everything in between. 

By monitoring KPIs in real-time, our clients are becoming MORE proactive and detecting unforeseen items or fixing them quickly reducing the impact on the overall lab.

The Need for KPIs in Molecular Laboratories

Molecular workflows are complex and, in the past, have been hard to automate and optimize. The need to reduce operating costs has never been greater and to optimize any workflow, particularly a molecular one, you start with real-time benchmarks. 

Whether you’re a lab whose been performing anatomic testing for years and looking to expand into molecular or you’re starting up a new lab or you’re only performing next-generation sequencing – this blog is for you.

Business KPIs

Business KPIs are leading indicators of how the overall laboratory business is running. Are you making enough money to grow, can you invest in offering additional tests, can you hire more staff? These higher-level business KPIs provide the data needed to make important business decisions.

  1. Monthly, quarterly, and yearly orders
  2. Revenue, month over month and annually
  3. Revenue per sample/analysis
  4. The total cost of sample analysis for each test performed
  5. Quality control failures
  6. Customer satisfaction
  7. Customer retention
  8. Downtime and response times
  9. Overall turnaround times

Lab Operations KPIs

  1. Accuracy of patient identification at the time of specimen collection
  2. Accuracy and completeness of examination/test requests
  3. Numbers and sources of, and reasons why specimens do not meet the laboratory’s acceptance criteria
  4. Specimens lacking sufficient quantity at the examination
  5. Purity of extraction control
  6. Concentration of extraction control 
  7. Number of and reasons for repeat examination, by examination
  8. Number of times and reasons for failures of calibration materials or controls for a given instrument or test system
  9. Number of times and reasons for technical failures of a given instrument or test system
  10. Number of samples per batch or run or stat samples
  11. Number of label errors
  12. Number of specimens in wrong containers
  13. Samples lost
  14. Completeness of laboratory reporting of critical values
  15. Numbers and types of reporting errors
  16. Turnaround Time (TAT) on a daily, weekly, and monthly basis

Quality Control KPIs

  1. Sample identification errors
  2. Sample type errors
  3. Sample filling orders
  4. Sample transportation errors
  5. Calibrator errors
  6. Errors with controls
  7. Sample testing errors

Interoperability KPIs

  1. Number of transactions
  2. Quality of data exchanged

Billing KPIs

  1. Unbilled claims
  2. Error or denial by client
  3. Average time from requisition to payment
  4. Average payment received per accession
  5. Days in A/R
  6. Payor reimbursement time
  7. A/R over 90 Days
  8. Claim denial rate
  9. First pass acceptance rate
 

NovoPath 360 Laboratory Information System

NovoPath 360 supports molecular labs with out-of-the-box management reports that provide any lab complete transparency into their operations. 

Stacked with patient-centric, business management, and lab reports see how our clients stay on top of the busiest labs with NovoPath 360. Some of our out-of-the-box reports include:

  • Average turnaround time by client
  • Billable code report
  • Block counts
  • Cases without CPT codes
  • Failed delivery reports 
  • and a whole lot more
Molecular Laboratory

Share This Article

Share on facebook
Share on twitter
Share on linkedin

Be the first to hear

Join our list and hear about NovoPath updates and news before anyone else.

Recent Posts