Laboratory Business Plan

Fargo Medical Laboratories offers routine blood tests on-site and more complex blood tests outsourced to a central lab. FML will be located inside the Main Street Professional Building which is home to numerous physicians. Currently, when the doctors need blood work done, they have to send their patients to an off-site laboratory, a 15 minute drive from the doctor’s office.

Once Fargo Medical Laboratories is up an running the doctors will be able to send their patients to FML’s offices, within the building. For simple tests Fargo Medical Laboratories will do the analysis in-house, for more complex blood work the specimens will be sent to an outsourced central laboratory.

The advantages to the physicians and their patients include: convenience (blood can be drawn within the same building), and faster service (there is no driving or transportation time to get the blood drawn), and for the most commonly requested tests the analysis occurs in-house guaranteeing results within 24 hours.

Fargo Medical Laboratories will offer the following tests in-house:

• Red blood cell count- $15
• White blood cell count- $15
• CBC (a more complete test that counts platelets in addition to white and red blood cell counts)- $30
• Blood sugar (suited for diabetics or people who are trying to determine if they have a blood sugar problem)- $15
• Electrolytes (for people on diuretics)- $20
• Creatine (tests for heart or kidney difficulties)- $15

If more extensive blood work is needed, blood with be drawn in our offices and sent to a central laboratory. Fargo Medical Laboratories will use a courier service that transports the samples in an ice cooler. The specimens are tested within 24-36 hours of receipt at the central lab and the results are returned to FML via encrypted email.