The Return on Investment for Laboratory Informatics
Author: Joe Liscouski
Date: December 2022
Laboratory work depends upon highly skilled people and sophisticated equipment to produce knowledge, information, and data. The cost, value, and ROI for those products are affected by the methods used to record and manage them. Paper-based systems are high-cost (once you account for the labor in their use) and have a lower return on your investment, while electronic systems provide increased efficiency, easier access, and greater utilization with a higher ROI. Producing knowledge, information, and data is one key aspect of laboratory work. Keeping it useable, accessible, and searchable over the long term is key to maintaining its value and realizing the return on your investment in laboratory space, equipment, and personnel.
This article will look at the return on investment or ROI in laboratory informatics and provide you with information you can use to evaluate expenditures on software, hardware, and methods of implementation.
