Wasim Khan, a Masters in Radiology, had worked in a big hospital for almost a decade in Mumbai. He wanted to set up his own clinic. He also wanted more flexibility in his practice. His wife was too was a practising radiologist. So, they decided to open a path lab, in which Waseem was the head physician. Setting up a medical laboratory soon turned the couple into successful entrepreneurs. It helped them get the job satisfaction they always longed for.

Here are pointers that could work as a good lab setup guide:

If you want to start your own diagnostic centre, you must have the following:

  1. Sufficient Time: Setting up a business needs time. Consider starting a pathology business only if you can give considerable attention to the whole process. If you are working anywhere else, you may want to take some time off to set up the business.
  2. Strong Capital: Next, we come to the finances. You will need a fair amount of money to set up a path lab. You have to buy or rent the property to house the lab. You have to buy the medical equipment. And finally, you need the working capital. So, the funds should be in place. It is a good idea to take a business loan for doctors before setting up a laboratory.
  3. Dedicated Employees: To start a business from scratch, you have to recruit employees. You have to hire doctors, lab technicians, nurses, and a couple of management executives. They will all contribute towards the progress of your business. At the same time, these people would be responsible for running the day-to-day affairs of your business.
  4. Medical Equipment: You cannot run a pathology centre without adequate medical equipment. So, make a list of everything you need. You must have the equipment for blood collection. You also need X-ray machines, CT-scan machines, USG machines, heart monitors, and the like. Get a detailed lab start-up equipment list Buy each of these before you start the lab.
  5. Proper Licence & Registration: After you take care of the logistics, you have to get the licence for your business. Take the correct, legal route and apply for your licence and registration. Any slip-up in this step can have devastating impacts on your business. Also, remember to renew the licence on time every year.
  6. Know your competition: Do you have competitors around you? Respect them and acknowledge their presence. You may be opening the lab to cash in on the excess demand in the area. But, do not get complacent or overconfident. Study the trends and the marketing strategies of your competitors. This will give you a fair idea about how the industry works. You are a new player and must know the market to survive.

The bottom-line:

So, if you are starting your own lab, keep the above-mentioned guidelines in mind. Arrange the money and look for a good place in a populous part of town. Connect with some good doctors and ask them to join you. This will help give your business a good name. And finally, be ethical in your practice. After all, medicine practice is the noblest profession of all. Good luck!

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