LigoLab Helps Lab Directors Get a Healthy Return on Their Laboratory Information System (LIS) Investment
September 6, 2022
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’s information systems and its partnerships can enable the lab to be a modern information-driven organization,” said Suren Avunjian, LigoLab’s CEO, who for nearly two decades has brought a much-needed business-oriented approach to laboratory software.
According to Avunjian, there are four key questions that all laboratorians should ask before licensing a laboratory information system (LIS), thereby ensuring a healthy return on their investment.
Question # 1: Does the Laboratory Infomation System Provide Differentiation in the Marketplace?
“First off, laboratories need a way to differentiate, and the key way to do this is through the information systems that they have running their operations,” Avunjian said. “The big differentiator is the 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 noted the LigoLab Platform addresses the many unique things that providers often require.
“Our platform gives users the power to intuitively configure preferences, 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: Does 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 workflow.
“The LigoLab LIS & RCM Laboratory Operating Platform is the most comprehensive system on the market for growing laboratories,” he said. “We provide lab operators with an end-to-end solution and one source of truth.”
With LigoLab, all laboratory information is stored on one powerful database that includes modules for anatomic pathology, clinical pathology, molecular diagnostics, revenue cycle management, and direct-to-consumer, as well as all the supporting module a laboratory 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 solution and one software vendor 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 LIS the most comprehensive laboratory information system available.
LigoLab LIS Supporting Modules:
- Specimen Handling
- Provider Outreach
- Patient Portal
- Document Imaging
- Send-out Tracking
- Customer Relationship Management (CRM)
- Digital Pathology
- Business Intelligence
LigoLab LIS 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 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 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 LIS is highly configurable, and better yet, configurations for report templates and 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 platform gives them,” stated Avunjian. “Once trained, they can make configuration changes on the fly without any IT assistance.”
This level of flexibility with LigoLab’s software is unique within the industry. It’s also a real value when you consider that in most cases with other LIS systems, even the most minor configuration adjustments require IT and external assistance that can be very costly.
“The system 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 laboratory workflows made necessary by COVID-19. Credit goes to both our company and our customers for having the entrepreneurial spirit and the foundation to adapt quickly to those changes. To not only process the additional volume efficiently, but to also swiftly support the changing marketplace while fighting on the frontline of a pandemic.”
Question # 4: Does the Laboratory Information System Create Barrier-Breaking Efficiency?
The end-to-end efficiency that the LigoLab 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 systems that lacked functionality, reliability, and scalability,” said Avunjian. “Our platform drives workflows supported by automation and rules that help laboratories attain the highest levels of efficiency and become virtually error-free.”
The efficiency generated by LigoLab LIS directly targets the bottlenecks and barriers that prohibit a lab from achieving its desired scalability and compliance.
“That’s the reason why lab directors implement systems like ours. It’s because they’ve hit a limit on how much they can grow and process with their current system(s) and the manual workarounds, and they need a system that will help them break that artificial ceiling that’s holding them back as an organization,” he said.
Measuring ROI from Your LIS Investment
So, how should lab directors measure the return on their LIS investment?
“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 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 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 system that can manage and support multiple disciplines (anatomic pathology, clinical laboratory, and molecular diagnostics) 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 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 system,” he said.
Imagine, bringing on new tests and new disciplines, minus a huge and costly implementation process, followed by the need to synchronize multiple systems together. You don’t have to with LigoLab’s game-changing software.
“I can go on for hours talking about all of the disadvantages that come with having multiple systems,” said Avunjian.
An Attractive LIS Pricing Model that Rewards Growth
Avunjian also conveyed the importance of teaming with a vendor that’s aligned with the laboratory’s long-term success, and this is often reflected in the vendor’s pricing model.
“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. What’s good for the lab is good for LigoLab, too, and because of this, there is a real incentive for the company to continue to enhance the platform daily.
“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 cost,” said Avunjian.
“For us, every interaction is an investment back into our own company, and in our nearly 20 years 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 150+ laboratory facilities nationwide, has no hidden fees or limits on seats, modules, and support.
“That speaks volumes about the software, and also our service,” he said.
Don’t Forget About LIS 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 information system needs.
“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 software itself,” 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 the marketplace.”
In summary, LigoLab gives its customers a powerful all-in-one software solution, 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.
An Award-Winning LIS & RCM Laboratory Operating Platform
LigoLab customers have long known what makes the LigoLab Platform a standout LIS option, and the word is getting out.
- Frost & Sullivan recently 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 software experts.