Updated January 8, 2013
The LMIP, or Laboratory Management Index Program, is an effective fiscal management tool that provides you with a valuable peer comparison of your laboratory’s performance. LMIP can assist you with the annual budget process, contract negotiations, and daily operations management.
With over 11 years of experience and the largest laboratory participant database,
LMIP is the best management resource for health care professionals charged with
decision-making responsibilities. Using management ratios as performance indicators,
LMIP extends beyond traditional analysis of productivity and staffing to focus
on the most important factors affecting laboratory performance:
- Productivity – How effectively are you using your laboratory personnel?
- Utilization – How do your test ordering patterns compare to those of your peers?
- Cost-effectiveness – How efficiently are you using your supplies, equipment, and labor?
LMIP input items are collected and analyzed quarterly to provide a report of your laboratory’s overall operations. The data collected is used to generate relevant management ratios that provide an analysis of the productivity of personnel, laboratory policies and procedures, salary and other expenses, physician test utilization, and organizational benefits. The input items you will collect include:
- Blood Expense
- Consumable Expense
- Equipment Depreciation Expense
- Equipment Maintenance and Repair Expense
- Hospital Inpatient Days
- Hospital Inpatient Discharges
- Inpatient SBTs
- Nonpatient SBTs
- On-Site SBTs
- Outpatient SBTs
- Outpatient Visits
- Referred SBTs
- Referred SBT Expense
- Testing Labor Expense
- Testing Paid Hours
- Total Labor Expense
- Total Laboratory Paid Hours
- Total Laboratory Worked Hours
- Total SBTs
The Standard Billable Test (SBT) is the primary unit of measure for LMIP. The SBT is a method of standardizing test counts and eliminates billing, accounting, and interpretation variations to ensure valid comparisons are created.
Maintenance of Certification is available for the Quality Management Tools.