Total Cost of Ownership as An Effective Method of Calculating the Total Cost Of In Vitro Laboratory Equipment

Proceedings of The 6th International Conference on Research in Business, Management and Finance

Year: 2023

DOI: https://www.doi.org/10.33422/6th.icrbmf.2023.09.103

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Total Cost of Ownership as An Effective Method of Calculating the Total Cost Of In Vitro Laboratory Equipment

Mamalougkas B. Dionysios, Tzavaras E. Panagiotis

 

 

ABSTRACT: 

The TCO – total cost of ownership – methodology, which is also the subject of research, provides the laboratory in vitro manager with a structured approach to analyzing all direct and indirect costs associated with selection of in vitro biomedical equipment, allowing comparative, documented acquisition of decisions based on laboratory costs, while ensuring high quality test results and competitive advantage to a rapidly changing economic and health environment. Reference is made to literature review research studies aimed at highlighting the benefits arising from the adoption of philosophy of the evidence-based Total Cost of Ownership (TCO) approach. Additionally, personal specialized research was conducted regarding the selection of an in vitro diagnostic analytical platform and the total cost it produces throughout its lifetime. Α questionnaire in electronic format was used  in order to detect the preferences of  healthcare professionals working in either public biopathology laboratories or private health care organizations or pharmaceutical diagnostic companies towards the total cost of ownership. Τhe results of the research are particularly encouraging for TCO since the managements of the laboratories consider that is the strategic approach to the selection of biomedical equipment and an important factor for the sustainability of in vitro laboratories.

keywords: LOS, maintenance, TAT, TCO, turnaround