“The Profit Machine in the Hospital Basement” Reveals Hidden Opportunity for Laboratories

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Dr. Kathy Murphy of Chi Solutions Uses Passion for Empowering Clinical Laboratories to Author New Book

The Profit Machine book cover
Over the course of my career, I have never before witnessed a rate of change and disruption anywhere close to what we are now experiencing.

Using experience gained over three decades and her passion for helping hospital and health system laboratories compete with Quest Diagnostics and Laboratory Corporation of America, Dr. Kathleen Murphy, former CEO and owner of Chi Solutions (Chi), now an Accumen Company, has released an engaging book titled “The Profit Machine in the Hospital Basement: Turning Your Lab Into an Economic Engine.” Murphy will launch her book and serve as faculty at the 21st Annual Executive War College Conference on Laboratory & Pathology Management to be held April 26-27, 2016, in New Orleans.

In her book, Murphy debunks the common outreach myths and makes a strong case for laboratory as a hidden profit machine. The book provides insight into the rationale, strategy and improved financial outcomes that come from leveraging the spare capacity in the facilities, equipment and staff in every hospital laboratory. Murphy’s book also provides the hospital c-suite with valuable information about the history of the industry, clinical laboratory outreach myths, strategy, structure and infrastructure, sales, and financial considerations.

“Over the course of my career, I have never before witnessed a rate of change and disruption anywhere close to what we are now experiencing. Outreach brings material new revenues and margins to hospitals looking for ways to offset decreasing reimbursement from traditional service lines. The secret is in the structure, funding, and execution as a serious business entity,” says Murphy.

Murphy now serves as Senior Growth Advisor to Accumen and has held leadership roles at Chi for more than 22 years, overseeing complex engagements involving strategic options development, operations optimization, consolidation, and outreach program implementation. She is a noted speaker and author on laboratory outreach. Under her leadership, Chi has continued its legacy of helping hospitals compete with national laboratories through regionalization and outreach.

As an Accumen company, Chi will continue to focus on the untapped value in hospital and health system laboratories and Accelerate Breakthrough Performance™. Accumen CEO, Jeff Osborne showed his excitement about the book release and partnering with Murphy and the team at Chi. “We see them as equally passionate about the opportunities in the lab industry and offering a powerful combination of talented expertise that complements Accumen’s mission to profoundly impact healthcare.”    

Murphy has also been instrumental in directing the annual performance and publication of Chi’s widely regarded and referenced Comprehensive National Laboratory Outreach Survey. Before joining Chi, she directed laboratory and radiology operations at two of the top academic medical centers in Boston. Murphy obtained her PhD in microbiology and immunology from the University of North Dakota and has completed executive education coursework at Dartmouth and Harvard Business School.

About Accumen Inc.
Accumen is a healthcare transformation company. Using a proven blueprint, innovative customized approach and proprietary technology, Accumen partners with health systems to set new standards of performance in the clinical lab - driving higher quality, better service and unprecedented value. Accumen delivers proven results in Clinical Laboratory Operations and Patient Blood Management with solutions that are designed to help clients create healthier labs, healthier hospitals and ultimately, healthier communities.

Accumen® – Accelerating Breakthrough Performance™
Find more information at http://www.accumen.com.

About Chi Solutions, Inc.
Chi Solutions, Inc. (Chi) is a nationally-recognized clinical laboratory consulting and management firm focused on delivering revenue growth, cost savings, and optimized operations for hospitals, health systems, and hospital-owned independent laboratories. Chi’s expertise and specialty is transforming laboratories into economic engines. Chi offers the broadest service offerings in the industry including strategic options; laboratory management; outreach growth and management; consolidation and integration; performance enhancement; advisory support in finance, operations, and outreach; benchmarking (Chi IQ®); and RVU tools.

Find more information, please visit http://www.hospitalprofitmachine.com or http://www.accumen-chi.com.

Disclaimer: Accumen has no authority, responsibility or liability with respect to any clinical decisions made by - or in connection with - a provider’s laboratory, patient blood management, or other operations. Nothing herein and no aspect of any services provided by Accumen is intended - or shall be deemed - to subordinate, usurp or otherwise diminish any providers’ sole authority and discretion with respect to all clinical decision-making for its patients.

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Cindy Judd
Accumen Inc.
+1 (847) 404-9962
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Julie Stein
Chi Solutions, Inc., An Accumen Company
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