Lab Management

MODULE 5

ACTVITY 5.1

REFLECTION SESSION: From the video presented, discuss how powerful is “the power

control” when your laboratory is losing revenue and the staff is more than the required

number needed ?

The video emphasizes that control is one of the most vital functions in management. Its main

objectives are to establish standards, measure and compare results against it, and takes corrective action.

Most control methods is classified into two categories: 1.Steering control, which detect performance

deviation even before given operation is completed, and; 2.Post-action controls, in which past experience is

applied to future operations.

Control techniques in the management is really critical when the company or laboratory is in the

edge of losing revenue, and how it affects or be affected by other factors, like the quantity of staffs in the

organization. Control techniques, such as budgetary control where it means controlling regular operating of

an organization for effecting finances; financial ratio analysis that shows its financial performance using

balance sheet and profit and losses statement; internal audit that help managers take corrective action for

controlling, and any other power-control techniques that came to aid for our problem situated.

Budgeting is indeed very vital for cost control. Types of budget such as: production cost budget,

lays down the estimated cost of carrying out production plans; capital expenditure budget outlines capital of

expenditures for machinery, equipment, inventories, and other item; Cash budget helps the management in

planning, controlling and coordinating the activities which involve cash receipts and payments; Master

budget especially, gives the summary of all the functional budgets and shows how they affect the business

as a whole. It is composed from various subsidiary or functional budgets and provides detailed particulars

to help us monitor the production, sales, cash, fixed assets, etc.

These power-control techniques certainly aid us in seeing business flaws, like why the clinical

laboratory is losing revenue, and what actions can the laboratory do for the over-sufficient employers. It

help leaders to find the key costs in business, plans and discover opportunities to limit expenses. And as

much as possible, it helps to eliminate uncertainties by having a planned approach for its various activities.

LAB Management ( Module 5 Guide)

Medical Technology