How much does starting a Pathology Lab Costs?
The cost of starting your pathology lab will depend on not just registering a business but on factors such as location, size, software management, staff procurement, infrastructure, machinery, and desired customer demographic.
Pathology is the study of disease, needs a lab where Pathologists can interpret biopsy, monitor laboratory testing, and interpret laboratory tests into results patients can understand. So, if you’re a pathologist, who is on the verge of starting a pathology lab in Nigeria, Ghana, Cameroon, Côte d’Ivoire, Togo, or any country in the world, there are measures and processes involved in starting a pathology lab. By the end of this article, you will have enough information and knowledge to guide you in starting a pathology lab.
Is Starting a Pathology Lab Lucrative?
Approximately 70 percent of all treatment conclusions are based on pathology results, worldwide. A pathological business is done with the utmost assessment, care, and experience. This is one industry where the focus on the customers is paramount. Before starting a pathology lab, ensure you have the license, the right team, the right equipment setup for your lab.
5 Steps to Starting a Pathology Lab
Planning – This is a necessity when trying to start your pathology lab. Planning allows you to map out strategic plans and decisions you would need to carry out from start to finish before spending a dime on starting your pathology lab. You don’t want to start a pathology lab in a location where there are a dozen pathology labs, deal with unreliable or mediocre suppliers for your pathology lab equipment’s, and surely, you don’t want to lose a customer or bag a lawsuit for giving out an inaccurate result to your patients.
So, planning is very essential when thinking of starting your pathology lab.
Acquire the Necessary License – The medical industry as a whole focuses on safety, quality, and durability when dealing with patients or clients. The reports issued from an unlicensed lab are considered illegal and could lead to shutting down your pathology lab, revoking your license as a medical practitioner, and even a lawsuit case.
This is so because as health practitioner’s you deal with the lives of people. And in a scenario as such, you don’t joke or make mistakes, because it could cost an innocent patient’s life.
Register a Business Name – To operate as a legal entity, you will need to get your business registered, so, you can operate legally without problems from the government.
Raise Capital – Monies would be to fund your business operations and purchase assets. You will require capital to get a property you want to turn in a laboratory, buy equipment, hire staff, and market your business in the right places.
Purchase Equipment – A pathology lab can not be run without adequate medical equipment to help you, the pathologists create a laboratory people trust and will recommend.
At the planning stage, it is wise to make a list of all equipments you feel will make your laboratory top-notch and helps patients with solutions they need to be solved.
Common types of equipment needed in a pathology lab include:
Laboratory stirrer
Centrifuge tube
Micro-centrifuge tube
Needle cutters and destroyers
Lab shakers
Where Can I get Suppliers for my Pathology Lab?
Koeman Group is a companies with a reputation for supplying reagents and laboratory equipment within Nigeria and West Africa. We supply our clientele with the right equipment, and at the best price possible. Our friendly customer service representatives and marketers are available to get you started with installing and managing a pathology lab.
