In our recent presentation titled 'Strengthening Lab Leadership through Financial Management,' we explored how financial skills can enhance lab management. Attendees discovered practical ways to leverage financial tools for more effective resource allocation and sustainable growth. The session showcased how mastering financial management can streamline lab operations and improve overall leadership performance.

1. Ola H. Elgaddar
MD, PhD, MBA
Ass. Professor of Chemical Pathology, Alexandria University, Egypt
General Manager, Al Borg Diagnostics, UAE
ola.elgaddar@alexu.edu.eg
Laboratory Leadership &
Financial Management Skills

3. Both are
definately
needed

4. A Hard
Skill that
should be
learned

5. General Manager
CEO
Sales Director
Medical Director Operations Director Financial Director
Pathologists
Quality Director
Technologists
Data Entry
Receptionists
Customer Care
Housekeeping
Sendout
Sales Executives Accountants Insurance
Coordinators
IT Manager
HR Director
Logistics Manager Biomedical
Engineering
Manager
IT Officers Drivers
HR Officers
Procurement
Manager
Procurement
Officers
Marketing
Executives
Approved By –
Organization Chart (Example)
Marketing Director
Organization Chart of a Stanalone Lab

6. Proper Financial Management:
 Increase Revenue
 Decrease Cost
 Improve Efficiency / Minimize Waste
Maximize Profit

11. Lab to Lab
Low Selling Price
Sales Team
Walk in (Cash/Insurance)
High Selling Price
Marketing Team

17. COST Of LAB
MATERIALS

18. Considerations:
- Accepted % (B2B or B2C mainly?)
- Sendout cost included
- In house scope (Demand, capabilities, cost)
- Selection of analyzers (Technical, Cost, Support, PT, group)
- Efficiency of each kit
- Guaranteed Price Per Reportable Result (GPPRR) Vs Cost Per
Test (CPT)
- Total Lab Automation
- Consolodate whenever possible (What to consolodate?)
- Logistics (Outsource?)

20.  It is never about number
 Hiring is more expensive than
retaining
 Internal promotion is less costly
than head hunting
 Efficient workforce is the main
asset (Effective Vs Efficient?)
 Use the probation period
 Attitude is more important than
skills
 Don’t underestimate the
negative influence of some
employees
 Adhere to Budget %

22. Toyota:
At any time or step of the manufacturing process our members can ‘pull the andon‘;
literally stopping the production line to avoid generating problems that others would
find in the future.

25. The estimated amount of bad debt that will arise from
accounts receivable that have been issued but not yet
collected.
Be aware of “Bad Sales”
Double loss; tests performed at a cost and AR not
collected so considered as a cost
Control system should be in place to know when to stop
Proper documentation for possible legal cases (Valid
contract, request forms, proper invoicing, mutually
agreed SOA)

26. While technical skills form
the foundation, the modern
role of a laboratory leader
encompasses a broader
spectrum.
Navigating uncharted
territories, making decisions
in ambiguity, and fostering a
collaborative, innovative lab
culture are key elements of
the job.
Some things were not taught
at school!