Laboratory Owners Determined to Persevere in Tumultuous Economy

January 2012--

When the financial crisis hit our country in 2008, LMT immediately responded with a survey of our readers to get a baseline for how it would affect our community. And as we promised then, we've kept our finger on the pulse of the community, sharing the results of periodic follow-up surveys; here's the latest.

Using phrases like "holding on" or "treading water," many laboratory owners say they are continuing to ride out the economic storm despite not seeing much relief last year.

While 15% of respondents to LMT's most recent How's Business? survey say business remained level from 2010 to 2011, half say it was down, pointing to pricing pressure, rising costs and fewer patients opting for restorative work.
On the other hand, 36% of laboratories say business was up in 2011, due to marketing and customer service efforts and increased efficiency through digital technologies.

So if half of respondents say business was...