I am in the process of evaluating the start-up of a clinical laboratory in Texas and greatly need some advice. I've personally been in business development and medical device commercialization for over 12 years but honestly know very little about clinical laboratories. I'm considering putting a large portion of my personal savings into this start-up venture along with 2 other investors. This is a very exciting but stressful decison for me as I would leave my job and invest a great deal of my savings. The existing investors already have 2 laboratories in LA, but I'm looking for completely independent feedback. Most importantly, I'm looking for insight into gaining and growing the business, pit-falls, etc. I ultimately will be responsible for marketing and sales. I'd love an opportunity to speak directly with you or email you if that's ok. My personal email is email@example.com
How do general or family physicians make decisions on who to send their lab work?
Or maybe the office manager is making these decisions?
What is the criteria for choosing a specific laboratory?
What are the big name, franchised labs lacking in terms of service delivery and customer support?
What would be the large selling points for getting a practice to switch to another laboratory?
How type of volumes can be expected in terms of routine test requests? Daily or weekly testing? (Sorry, I'm getting a concise list for our clinical consultant).
Essentially, I am trying to understand the selling points for getting practices to switch over to another facility and any potential pit-falls in getting into this business. The existing owners feel that can offer better personal service than the big name labs, more reliable report times, more flexibility, lower pricing, etc. I don't know enough about the customer base to clearly understand the true selling points or value proposition for laboratory services. Sorry, I'm a businessman, not a clinician so thanks for your patience.