The structure and governance of a laboratory should provide representation to ensure alignment with both clinical and business objectives. Governance functions typically include strategic oversight, financial stewardship, compliance and performance monitoring. NMG has held board positions on more than 15 of the most successful laboratories.

Business optimization involves analyzing data and operations to identify, quantify and implement the most meaningful opportunities to cut costs, expand revenue and improve laboratory performance. NMG deploys an array of financial and accounting
experts on each project.

Consolidation and integration strategies focus on streamlining operations across multiple sites to reduce expenses, improve efficiency, reduce duplication, and optimize resource utilization.

Implementation of a new outreach laboratory program or enhancement of existing programs
can boost margins and generate revenues.

Lab mergers and acquisitions provide hospitals and health systems with strategic options to expand, realign or merge their lab operations. Acquiring or merging laboratories can create economies of scale, improve market positioning, and streamline services,
while also requiring careful integration planning to maintain quality and minimize disruption.

Divesting a laboratory can be a strategic decision to unlock the value of a highly marketable asset while reducing operational complexity and financial risk for the health system. Knowing when to monetize the laboratory—whether due to competitive pressures, capital needs, or a shift in organizational focus—ensures the system captures maximum value while ensuring service in the community.