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A Medical Sub-specialty Specific Analysis of the British Columbian Medical Diagnostic Laboratory Industry

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The client, LifeLabs, invests millions of dollars annually in capital equipment purchases, with the majority of this spend being directed at replacement, upgrades and introductions of new test instruments. Despite the strategic nature of these decisions, the current decision making process employed by LifeLabs does not include evaluation of external environmental factors that may influence long-run profitability and risk. LifeLabs has commissioned this study to deliver an external analysis of the medical diagnostic laboratory industry in British Columbia, further requesting that the study focus on delivering recommendations for the industry segments of allergy, autoimmune and coagulation. The results of the analysis conducted herein are as follows: To maximize future allergy segment attractiveness, it is recommended that med-lab providers collaborate with allergy specialists to install point of care technology (POCT) allergen testing capability at locations close to the specialists’ places of practice. To maximise future autoimmune segment attractiveness, it is recommended that med-lab providers educate family physicians and rheumatology specialists regarding the benefits and best uses of complementary test methods (such as IFA and Bio-Plex), as well as how to interpret results from those methods. To maximise future coagulation segment attractiveness, it is recommended that med-lab providers collaborate with regional health authorities to install POCT coagulation testing (Prothrombin Time (PT) / International Normalized Ratio (INR)) capability at locations close to or within community acute care clinics, as well as nominated patient service centres, and throughout the long term care facility network. Although it was the clients’ explicit request not to tackle internal analysis as part of this study, it is also recommended that a follow-up internal analysis, and subsequent scenario analysis, be conducted to assure that the unique competitive advantages of the client firm are considered as part of the strategy formulation process.
EMBA Project-Simon Fraser University
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