Growing a lab business with Lab IQ

Unlock the potential of CGM LABDAQ using Lab IQ, a dynamic dashboard designed to revolutionize laboratory management. Offering instant access to critical data and powerful analytics, Lab IQ transforms how labs streamline operations and boost profitability.  

“For long-term success, you have to take a predictive view of the market to adapt quickly.  Only then can you thrive,”said Sam Kabbani, the CEO of OPEN Healthcare US.

Discover how Lab IQ empowers your laboratory to not only adapt but thrive in a competitive environment.

Sam Kabbani’s story in the clinical laboratory industry began in 1984. With over four decades of experience, he now manages seven laboratories across Southern California and owns four of them, serving more than 200 physician and nursing home clients. As a respected leader in the field, Sam has faced numerous challenges, particularly when balancing operational efficiency and profitability in a highly competitive environment.  

Sam recalled the hurdles he faced when trying to monitor staff productivity, test profitability, and client satisfaction. “When you grow, you must make constant and informed changes to your business,” he said. “You need insight into your data to make sure your changes are truly informed.”  

His secret to navigating the complexities of the laboratory world? A commitment to data-driven decision-making backed by the capabilities of CGM LABDAQ and Lab IQ.  

“Now, I could not imagine my labs without it.”

For Sam, everything changed when he discovered Lab IQ, a powerful software option for CGM LABDAQ that offers real-time insight into laboratory performance metrics.  

“As soon as I saw Lab IQ, I wanted to use it. It provides exactly what I need—the ability to change my business to directly impact growth on multiple levels,” he said.  

With Lab IQ, Sam can monitor staff efficiency, evaluate test volumes, and assess profitability—all in one place. The transition to this powerful tool marked a new chapter.

Lab IQ makes it easier to understand which tests deliver the highest profit margins. Sam can quickly assess financial performance and shift priorities accordingly.  

“Lab IQ enables me to see, at a glance, my profitability. This can affect my bottom line directly by identifying areas where we were leaving money on the table,” Sam said.  

By shifting focus to high-margin tests and not just high-volume tests, Sam successfully enhanced his laboratory’s financial performance.

Lab IQ is instrumental in helping Sam prevent revenue losses. Utilizing client performance data, he identifies accounts requiring attention and makes informed decisions to optimize their testing arrangements.  

“I always wanted to know which clients I have that I’m able to support steadily at a good profit for my business versus those clients that are too high-cost to be working with,” Sam said. “This way, I avoid the opportunity cost of testing samples at a loss while I could have been testing different samples at a profit.”  

This proactive management approach encourages him to address concerns early, ensuring the financial health of his labs remains strong.

Before adopting Lab IQ, one of the challenges Sam faced was balancing staffing levels with the fluctuating volume of samples his labs processed. Overstaffing led to unnecessary costs, while understaffing jeopardized the ability to provide excellent client service.  

“[Thanks to Lab IQ] I am no longer under- or overstaffed at any given point, and therefore I am never losing money and am optimally supporting my profitability,” Sam explained.  

Sam leverages Lab IQ to analyze sample throughput patterns. For example, during certain low-volume periods, he decreases microbiology personnel. During peak times, he may increase hematology staffing.  

The platform also tracks individual staff productivity. This functionality enables Sam to identify phlebotomists’ efficiency and determine if retraining is needed. These insights help minimize costs while ensuring that his laboratories are adequately staffed.

Enhancing client relationships is a cornerstone of Sam’s strategy for success. With Lab IQ’s insights, he can provide timely reports that build trust and transparency.  

“Lab IQ has boosted my credibility and enabled me to provide insights into my clients’ businesses as a trusted partner,” Sam shared.  

For instance, when a physician seeks an update on an opiate test result, Sam can quickly filter the turnaround time data to provide an immediate response.  

With features like Turnaround Time and Daily Panel Count, Sam can identify trends and discuss opportunities for optimizing service contracts, ensuring he meets client expectations efficiently.  

“This instills confidence in my existing clients and also enables me to win new business more effectively,” he detailed.

This data-driven approach opens doors for Sam to attract new clients.  With reliable metrics to showcase his laboratories’ performance, he can confidently present his services to potential clients.  

“I can demonstrate my lab’s performance over time to win business. Key to doing this is showing how I consistently hit turnaround time targets as advertised,” Sam said.  

This capability has been essential for forging new business partnerships and expanding his client base.

Sam Kabbani’s journey with CGM LABDAQ and Lab IQ highlights the transformative power of data-driven technology in laboratory management.  

By embracing Lab IQ, Sam not only optimizes his operations but also improves staff productivity, enhances profitability, and strengthens client relationships.  

Reflecting on his experience, Sam recognizes that Lab IQ has equipped him to thrive in the clinical laboratory landscape, positioning his business for sustained growth and success. His story exemplifies the impact of innovation and adaptability in achieving excellence in laboratory services.

Discover how Lab IQ can empower your team with real-time insights and advanced analytics. Contact your representative at CompuGroup Medical today.