Laboratory leaders are well aware of the value provided by skilled medical laboratory scientists, and yet the operational reality facing many labs includes shortages of new and experienced staff members alike. Given that the timeline for correcting this disparity is likely an extended arc, many labs are turning to new automation, robotics, software, POCT, and other multitasking instruments to help mitigate staffing constraints, as well as acquiesce to the demands of clinical providers and patients.
Now is the time to advocate widely for the broad benefits of laboratory automation and technology. While laboratories experiencing budget reductions has hovered at around one-third of institutions over the last 3 years, optimism remains that budgets will increase in the next 3 to 5 years.
A little under two-thirds of laboratories have not experienced budget reductions this year; a three-year trend.
With roughly half of facilities projecting next year’s budget to remain the same, this year sees a slight dip in those facilities projecting an increase, down 4 points to 20% over last year.
Looking further ahead, 40% of facilities express optimism that their budget will be increased.
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Short-and long-term budget projections reached an apex in 2022 and retain similar patterns, but both projections continue to forecast above pre-pandemic levels.
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Budgets for larger institutions showed greatest growth this year with 17% reporting budgets in excess of $5 million. Mid-sized institutions showed the widest range, but still reported some budgets above $1 million.
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