Making informed financial decisions for the clinical laboratory is an important part of the laboratory operation, and every supervisor and laboratory manager should have a basic understanding of a number of financial aids in determining the financial health of the laboratory. In addition, understanding basic finance can help with financial decisions about the purchase of new instruments, laboratory staff numbers and scheduling, reagent and supply contract negotiations, what tests to keep in house and which to send out, and much more. This course provided an introduction to several basic concepts, including why it is important to monitor laboratory costs and revenue, how to perform a basic cost analysis, and how to evaluate the results of the financial studies described.
