Tip 4: Discover Your ROI

To discover your ROI you simply need to crunch the numbers.  Calculating an ROI is an attempt to determine the profitability of an investment and a time frame of when it will occur.  Sadly, there is no perfect formula.  However a good way to attempt an ROI plan is to perform a cost benefit analysis (CBA). With a CBA you analyze the benefits of a given situation or business-related action, sum them up, and then subtract all associated costs with putting that action into place.  Do not overlook the value of improvements, including gains in efficiency or cost savings for reduced rework.  This is extremely important especially when considering your laboratory workflow.

Examples of direct costs:

  • Capital equipment, software
  • Cost of consumable goods
  • Outsourcing, consulting fees
  • Subscription or annual recurring costs (ie. software, maintenance)
  • Taxes, fees

Examples of indirect costs:

  • Training
  • Changes to the facility (ie. expansions, networking infrastructure)
  • Labor- temp, FTE, PTE
  • Changes to overhead  (ie. utilities, transportation, etc)

Stay tuned for my final tip for financial success with digital pathology- Tip 5: Make a sound business decision and follow through.  Missed my previous tips?  Visit:

Tip 1: Understand What Digital Pathology REALLY Is

Tip 2: Identify Competitive Advantages with Digital Pathology

Tip 3: Build a Business Case