What is Cost Per Reportable Test and Why Should You Care?
Ever wondered how efficient your laboratory testing process really is? That's where the Cost Per Reportable Test (CPRT) comes into play. Essentially, CPRT tells you how much it costs for each test that gets reported by a lab. This metric is crucial because the lower the CPRT, the more efficient and cost-effective your lab's operations are.
Imagine having a high CPRT - it's like throwing money down the drain! If you want to make your lab's testing process lean and mean, focusing on CPRT is a great place to start.
How to Calculate Cost Per Reportable Test
You might be thinking, "Okay, but how do I actually calculate this thing?" Don't worry, it's simpler than it sounds. Here's the magic formula:
[\text{CPRT} = \frac{\text{Total Cost of Supplies}}{\text{Total Number of Reportable Tests}}]
Where:
- Total Cost of Supplies includes all expenses for supplies used in both reportable and unreportable tests.
- Total Number of Reportable Tests is the total count of tests reported to CLIA.
Quick Steps:
- Determine the total cost of supplies for all tests.
- Find out the total number of reportable tests performed.
- Plug these numbers into the formula and voila!
Calculation Example
Let's break this down with a practical example.
Example Scenario:
Say your lab spent $2,200 on supplies over a specific period. During that same period, you performed 500 reportable tests. Just plug these numbers into our formula:
[\text{CPRT} = \frac{2200}{500} = 4.40]
Your cost per reportable test is $4.40.
Steps Recap:
- Total Cost of Supplies: $2,200
- Total Number of Reportable Tests: 500
- Calculation: $2,200 / 500 = $4.40 per reportable test
| Metric | Value |
|---|---|
| Total Supply Costs | $2,200 |
| Reportable Tests | 500 |
| CPRT | $4.40 |
Understanding your CPRT can help you identify inefficiencies, compare performance across time periods, and make informed decisions about your lab operations!