The Myths and Risks of Lab Asset Management Service Consolidators

The advent of service consolidators who provided the initial approach to laboratory asset management introduced major healthcare insurance strategies like actuarial tables and risk management to managing assets in the laboratory. The promise of significant cost savings by discontinuing traditional service contracts with Original Equipment Manufacturers (OEMs), remains appealing to laboratory management. Shifting from full-service agreements to a time-and-materials basis, suggests that laboratories can cut costs by only paying for services as needed.

Evaluating the Impact of Service Consolidators  on Laboratory Operations

The practical outcomes of this shift reveal numerous challenges. Under fixed service contracts, laboratories can benefit from guaranteed response times, ensuring timely maintenance and repairs. However, under the service consolidation model, these guarantees can be compromised, leading to laboratories being deprioritized. Manufacturers and service providers, motivated by less lucrative financial incentives, often fail to sustain the high levels of service quality and promptness that have been a standard approach to contractual service

Moreover, the elimination of mandatory periodic maintenance, which should be a cornerstone of effective asset management, can result in an increased frequency of equipment failures and longer downtimes. This change can affect the laboratories' operational efficiency and compromise the accuracy and reliability of scientific work.

Focusing on Required Proficiencies and True Cost Savings

The administrative, surface cost-focused approach of service consolidators often reflects a superficial grasp of the complex needs unique to laboratory environments. A limited understanding of where true efficiencies and cost savings reside leads to prolonged response times and a noticeable decline in service quality. This approach underscores the limitations of applying generic, uniform strategies to a sector that requires tailored solutions to meet its demands and highlights the necessity for a more sophisticated and well-informed approach to asset management. A well-designed asset management program, executed and maintained by asset managers who understand how laboratories actually work, know the assets and their service requirements,  ensures that cost-efficient strategies maintain the critical functionalities and reliability required for a high-functioning laboratory.