In laboratory budgets, assumptions usually take the form of:
- Test volumes (historic unit sales)
- Cost (supplier contracted costs)
- Income/pricing (selling price per unit); revenue estimates should be based on approved proposals (and not any estimated cost of living increases)
Note: It is best to be conservative when listing budget assumptions. Uncertainty of any kind (pandemic years, for example) can cause less-than-ideal outcomes.
Discussion: It is assumed that past expenses and test volumes will approximate the next year to plan a laboratory budget. With these assumptions, the planner has a good starting point for the next year's budget plan. Budget categories can generally stay the same with minor adjustments based on the previous year's budget monitoring process. However, it is important to look for possible increases or decreases in testing and revenue (if applicable). A primary example is the COVID-19 pandemic. This is an example of a circumstance that, in many cases, affected laboratory expenses and test volume. Increased hospital patient load and the resulting need for laboratory tests for COVID-19 patients resulted in expenses and test volume increases. The increased number of inpatients and patient testing with this event resulted in the budget plan including the potential for more testing personnel, new equipment, and more reagents. If the budget had already been in place, adjustments in the budget would be required during the budget year. The monthly monitoring of the budget would identify the changing circumstances and allow real-time adjustments in personnel and testing capacity.
