# 43 Laboratory Metrics Molecular Labs Should Use

## What Are Laboratory Key Performance Indicators?

Laboratory Key Performance Indicators (KPIs) are key metrics that provide transparency within your laboratory, help avoid pitfalls, and contribute to achieving your overall business objectives.

At [NovoPath](/content/site-root.html), our clients use these essential lab metrics to assess the performance of their IT systems, equipment, [interoperability](/content/solutions/healthcare-interoperability/index.html), staff, and everything in between.

By monitoring laboratory KPIs in real-time, our clients are becoming more proactive and detecting unforeseen issues or fixing them quickly, reducing the overall impact on the lab and improving operational efficiency.

## The Need for KPIs in Molecular Laboratories

Molecular workflows are complex and have traditionally been difficult to automate and optimize. However, the need to reduce operating costs has never been greater, and to optimize any workflow, particularly a molecular one, you start with real-time benchmarks.

Whether you’re a lab that has been performing anatomic testing for years and is looking to expand into [molecular testing](/content/resources/blog/what-is-molecular-laboratory-testing/index.html), you’re starting up a new lab, or you’re only performing next-generation sequencing, this blog is for you. The following key lab metrics in laboratory operations are important to understand and adopt in your lab.

## 43 Laboratory Key Performance Metrics to Monitor

### Business KPIs

Business Key Performance Indicators serve as leading indicators of how the overall laboratory business is running and assessing performance. Are you making enough money to grow? Can you invest in offering additional tests? Can you hire more lab personnel? These higher-level business KPIs provide the lab data needed to make important business decisions.

1. Monthly, quarterly, and yearly orders  
2. Revenue, month over month and annually  
3. Revenue per sample/analysis  
4. The total cost of sample analysis for each test performed  
5. Quality control failures  
6. Customer satisfaction  
7. Customer retention  
8. Downtime and response times  
9. Overall turnaround times

### Lab Operations KPIs

10. Accuracy of patient identification at the time of specimen collection  
11. Accuracy and completeness of examination/test requests  
12. Numbers and sources of, and reasons why, specimens do not meet the laboratory’s acceptance criteria  
13. Specimens lacking sufficient quantity at the examination  
14. Purity of extraction control  
15. Concentration of extraction control  
16. Number of and reasons for repeat examination, by examination  
17. Number of times and reasons for failures of calibration materials or controls for given lab instruments or test systems  
18. Number of times and reasons for technical failures of a given instrument or test system  
19. Number of samples per batch or run, or stat samples  
20. Number of label errors  
21. Number of specimens in the wrong containers  
22. Samples lost  
23. Completeness of laboratory reporting of critical values  
24. Numbers and types of reporting errors  
25. Turnaround Time (TAT) on a daily, weekly, and monthly basis

### Quality Control KPIs

26. Sample identification errors  
27. Sample type errors  
28. Sample filling orders  
29. Sample transportation errors  
30. Calibrator errors  
31. Errors with controls  
32. Sample testing errors

### Interoperability KPIs

33. Number of transactions  
34. Quality of data exchanged

### Billing KPIs

35. Unbilled claims  
36. Error or denial by the client  
37. Average time from requisition to payment  
38. Average payment received per accession  
39. Days in A/R  
40. Payor reimbursement time  
41. A/R over 90 Days  
42. Claim denial rate  
43. First-pass acceptance rate

## NovoPath’s Laboratory Information Management System Makes Tracking KPIs Easy

[NovoPath LIS supports molecular labs](/content/blog/molecular-pathology/index.html) with out-of-the-box management reports that provide any lab complete transparency into their operations.

Stacked with patient-centric, business management, and lab reports, see how our clients stay on top of the busiest labs with NovoPath 360. Some of our out-of-the-box reports include:

- Average turnaround time by client  
- Billable code report  
- Block counts  
- Cases without CPT codes  
- Failed delivery reports  
- and a whole lot more

If you’re ready to understand more about your lab’s operations and implementing key performance indicators, start by [scheduling a demo of NovoPath](/content/novopath-360-demo-request/index.html).