LigoLab Helps Lab Directors Get a Healthy Return on Their Laboratory Information System (LIS) Investment
November 20, 2023
In an industry that is often viewed as commoditized, what is the fundamental value proposition that your clinical laboratory or pathology group can offer to its customers?
That’s a question that all lab directors should be asking themselves if the goal is to grow net revenue and become more profitable while providing premium patient care in an already ultra-competitive and dynamic environment.
So in an industry that employs board-certified medical directors and processes the same types of clinical tests on the same types of analytical instruments, what differentiates one lab from the others?
“It’s the added value the lab can deliver to its customers; this is where the lab information systems and partnerships can enable the lab to become a modern information-driven organization,” said Suren Avunjian, LigoLab’s CEO, who for nearly two decades has helped bring a much-needed business-oriented approach to LIS software.
According to Avunjian, there are four key questions that all clinical laboratory management teams should ask before licensing a laboratory information system (LIS), thereby ensuring a healthy return on their sizable investment.
Question # 1: Will the Laboratory Information System Provide Differentiation in the Marketplace?
“First off, laboratories need a way to differentiate, and the key way to do this is through the laboratory information systems that they have running their operations,” Avunjian said. “The biggest difference-maker is the LIS software and its feature sets, and this enables advanced functionality that helps labs better support, sustain, and grow their customer bases.”
As an example, Avunjian pointed out that LigoLab Informatics Platform addresses the many unique elements that providers often require.
“Our platform gives users the power to intuitively configure rules and automation to support all customer preferences. This translates into quicker turnaround times, which remains a huge factor for labs. Faster results and bespoke reports equal happier customers and better patient care,” he said.
Question # 2: Will the Laboratory Information System Represent One Source of Truth?
In addition to market differentiation, Avunjian spoke about the importance of having a complete laboratory information system that supports every department, role, and laboratory workflow.
“The LigoLab LIS & RCM Laboratory Informatics Platform is the most comprehensive LIS system and specifically designed for growing laboratories,” he said. “We provide lab operators with an end-to-end laboratory information management system that represents one source of truth.”
With LigoLab, all laboratory information system data is stored on one powerful and centralized infrastructure that includes modules for anatomic pathology, clinical pathology, molecular diagnostics, revenue cycle management, and direct-to-consumer, as well as all the supporting modules a laboratory could ever needs to be successful, eliminating elements like the dreaded data silos, the need for multiple integrations, the scenario where multiple vendors are pointing fingers at each other, and any other issues that come with disparate systems.
“The word “Ligo” means “to unite” or “to connect” in Latin, and that’s our philosophy, to provide one laboratory information system software and one LIS company that manages all of the data that flows into and out of the laboratory, enabling labs to become super-efficient and lab operators to focus on what they do best,” said Avunjian.
Wrapped around the five operational and financial modules on the platform are several supporting modules and supporting engines that easily make LigoLab's LIS platform the most comprehensive laboratory information system available.
LIS System Supporting Modules:
- Specimen Handling
- Provider Outreach
- Patient Portal
- Document Imaging
- Send-out Tracking
- Customer Relationship Management (CRM)
- Digital Pathology
- Business Intelligence
LIS System Supporting Engines:
- Workflow Designer
- Interface Engine
- Reporting and Distribution Engines
- Rule and Automation Engines
- Voice Dictation and Control
“We’re a partner that can replace multiple and outdated laboratory software systems within a lab that create barriers and prevent growth,” said Avunjian. “At the same time, we also realize that every laboratory is very unique. That's why we made our LIS system both comprehensive and extremely flexible.”
Question # 3: Is the Laboratory Information System Highly Configurable?
Flexibility is another key area where LigoLab excels and where labs can rise above the competition. LigoLab's LIS is highly configurable, and better yet, configurations for report templates and LIS platform rules can be modified easily by the users themselves.
“Of course, we are always available to help them as needed, but what our customers love the most is the flexibility that the LIS platform gives them,” stated Avunjian. “Once trained, they can make configuration changes on the fly without any IT or external assistance.”
This level of flexibility with LigoLab’s LIS software is unique within the industry. It’s also a real value when you consider that in most cases with other legacy or homegrown LIS systems, even minor configuration adjustments require IT and external assistance that can be very costly and time-consuming.
“The LIS platform is very flexible, and it adapts as the environment changes,” Avunjian said. “During the pandemic, many of our customers experienced rapid growth because they were able to swiftly adapt to the new lab workflow made necessary by COVID-19. Credit goes to both our LIS company and our customers for having the entrepreneurial spirit and the foundation to adapt quickly to those changes. They not only processed the additional volume efficiently, but they also swiftly supported the changing marketplace while fighting together on the front line of a pandemic.”
Question # 4: Will the Laboratory Information System Create Barrier-Breaking Efficiency?
The end-to-end efficiency that the LigoLab LIS platform creates inside a laboratory represents yet another powerful force that spurs growth and eliminates mistakes.
“Many of our lab partners migrated from homegrown or legacy LIS systems that lacked functionality, reliability, and scalability,” said Avunjian. “Our platform drives laboratory workflow supported by automation and rules that help laboratories attain the highest levels of efficiency and become virtually error-free.”
The efficiency generated by LigoLab's software solution directly targets the bottlenecks and barriers that prohibit a medical lab from achieving its desired scalability and compliance.
“That’s the reason why lab directors implement LIS systems like ours. It’s because they’ve hit a limit on how much they can grow and process with their current LIS systems and the manual workarounds, and they need laboratory software systems that will help them break that artificial ceiling that’s holding them back as organizations,” he said.
LIS Systems: Measuring the Return Investment
So, how should lab directors measure the return on investment (ROI) for a new laboratory information system?
“The best way to measure ROI is if a lab can scale without adding FTEs,” said Avunjian. “Without fail, when our new customers first deploy our LIS platform, they quickly realize that they can take on more business without adding personnel.”
Avunjian went on to list a few more direct and indirect benefits that LigoLab's LIS customers enjoy soon after go-live:
- Heightened data visibility that allows for quick and informed decision-making
- A single source of truth and better lab management
- Increased revenue without the addition of more operating costs
- Improved staff retention
- Improved turnaround times (TAT)
- Improved customer service and satisfaction
- A reduction in errors
- Less compliance risk
Avunjian also noted that having an all-in-one LIS system that can manage and support multiple disciplines (anatomic pathology, clinical laboratory, molecular diagnostics, and more) plus in-house billing is a huge competitive advantage that translates into a value proposition for today and a future-ready growth plan for tomorrow.
“Even if a lab is just doing pathology today, that lab’s leadership knows that with our LIS platform, there is the potential to bring on other types of testing and a fully integrated revenue cycle management module (RCM) without having to go and buy another LIS system,” he said.
Imagine, bringing on new tests and new disciplines, minus a huge and costly LIS implementation process, followed by the need to synchronize multiple laboratory software systems together. You don’t have to worry about this with LigoLab’s game-changing LIS software.
“I can go on for hours talking about all of the disadvantages that come with having multiple laboratory software systems,” said Avunjian.
A Pricing Model Unmatched by Other Laboratory Information System Vendors
Avunjian also conveyed the importance of teaming with a LIS company that’s aligned with the laboratory’s long-term success, and this is often reflected in the pricing model offered.
“We purely believe in aligning and partnering with our clients. That’s why we set up a pricing model with relatively small upfront costs,” he said.
LigoLab’s aligned and transactional pricing model is based on monthly volume and test type, meaning what’s good for the lab is also good for LigoLab, too,. Because of this, there is a real incentive for the LIS company to continue to enhance the platform daily with new features and functionality.
“It’s a very different model than our competitors, who, after selling to clients, would rather deal with them as little as possible because they see that as an extra burden and cost,” said Avunjian.
“For us, every interaction is an investment back into our LIS company, and in our nearly two decades of doing business, we haven't had a single customer decide to change from our system to another,” said Avunjian, noting that LigoLab, now serving over 200+ laboratory facilities nationwide, has no hidden fees or limits on seats, modules, and support.
“That speaks volumes about the LIS software, and also our service,” he said.
Don’t Forget About LigoLab's Service and Support
Another important aspect that helps LigoLab maintain its long-term client partnerships is its unmatched customer service.
From implementation to go-live and beyond, LigoLab provides its lab partners with unlimited support delivered by its best-in-class personnel. This 24/7 level of dedication to the customer isn’t the norm within the industry. Still, it fits well with a LigoLab core belief, and that’s to be a partner that takes full responsibility for all of a lab’s informatics.
“Our partnership philosophy continues to serve us well, as does our belief that the quality and the responsiveness of the support we offer is equally important as the LIS software” said Avunjian. “I don’t think anyone can match the level of service we provide our customers. It’s a driving force that’s led to mutual success for our partners and us in what's become a very challenging marketplace.”
In summary, LigoLab gives its customers a powerful all-in-one laboratory information system software, takes full responsibility for all laboratory data, and acts as a lab’s information system department, all while delivering unlimited customization, support, and maintenance. It’s all included in an attractive licensing agreement built for laboratory success.
LigoLab's Award-Winning Laboratory Informatics Platform
LigoLab customers have long known what makes the LigoLab platform a standout laboratory information system, and the word is getting out fast.
- Frost & Sullivan honored LigoLab with its 2022 Competitive Strategy Leadership Award.
- LigoLab has repeatedly earned High Performer status from G2, a business software review site.
- LigoLab has also been recognized as an Emerging Favorite in the medical billing software category by Capterra.
Do you like what you’ve learned so far? Ready to see how LigoLab can help you achieve your laboratory goals? Then the next step is to connect with one of LIS software experts.