Lab Management Quiz 3 MLT-MLS UAMS With Complete
Questions And answers 100% Pass
Goal - ANSWER A broad statement focusing on the organizations mission
(Example: "the laboratory will increase cost effectiveness")
Direct costs - ANSWER traced to a specific activity
(Example: labor, reagents)
Indirect costs - ANSWER Not directly specific to an activity
(Example: inspection fees, instrument depreciation, overhead costs)
Fixed costs - ANSWER do not vary as test volume changes
(example: utilities, salaries)
Variable costs - ANSWER fluctuate with change in volume
(example: reagents and supplies)
Capital - ANSWER Calculated for a three year period, involves placement of old equipment or
addition of new.
, Operational - ANSWER Based on cash sources and expenditures, and cover a 12 month period.
Includes salaries, education and travel, each section's operating cost (equip, reagents,
supplies, expendables) or donor blood (purchased from OBI or Red Cross)
Service - ANSWER Contractual: services that will be needed on a regular bases like vendor
contracts and equipment services agreements. Time and Materials: You call for service only
when needed.
Strategic - ANSWER An investment that will not show a positive return, but create a more
competitive environment (computer systems)
Cash - ANSWER equipment you can expect to keep over 5 years and the only option
(microscopes, fridges, centrifuge)
Lease rental - ANSWER Equipment you borrow, but return (high use equipment or changing
technology)
Lease purchase - ANSWER Equipment you expect to keep and own at the end of the contract
period (stable technology you can't purchase via other plans)
Cost per billable test - ANSWER Pay per test basis, and components (reagent, service, capital,
finance. The advantage is it's easy to predict)
Free use - ANSWER You get to use equipment for the cost of purchasing the reagents. At end
Questions And answers 100% Pass
Goal - ANSWER A broad statement focusing on the organizations mission
(Example: "the laboratory will increase cost effectiveness")
Direct costs - ANSWER traced to a specific activity
(Example: labor, reagents)
Indirect costs - ANSWER Not directly specific to an activity
(Example: inspection fees, instrument depreciation, overhead costs)
Fixed costs - ANSWER do not vary as test volume changes
(example: utilities, salaries)
Variable costs - ANSWER fluctuate with change in volume
(example: reagents and supplies)
Capital - ANSWER Calculated for a three year period, involves placement of old equipment or
addition of new.
, Operational - ANSWER Based on cash sources and expenditures, and cover a 12 month period.
Includes salaries, education and travel, each section's operating cost (equip, reagents,
supplies, expendables) or donor blood (purchased from OBI or Red Cross)
Service - ANSWER Contractual: services that will be needed on a regular bases like vendor
contracts and equipment services agreements. Time and Materials: You call for service only
when needed.
Strategic - ANSWER An investment that will not show a positive return, but create a more
competitive environment (computer systems)
Cash - ANSWER equipment you can expect to keep over 5 years and the only option
(microscopes, fridges, centrifuge)
Lease rental - ANSWER Equipment you borrow, but return (high use equipment or changing
technology)
Lease purchase - ANSWER Equipment you expect to keep and own at the end of the contract
period (stable technology you can't purchase via other plans)
Cost per billable test - ANSWER Pay per test basis, and components (reagent, service, capital,
finance. The advantage is it's easy to predict)
Free use - ANSWER You get to use equipment for the cost of purchasing the reagents. At end
