Frost & Sullivan Recognizes Mayo Medical Laboratories for its Highly Effective Competitive Strategy in the Clinical Laboratory Market

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• Publié par: frost-sullivan
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• Langue: English

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Frost & Sullivan Recognizes Mayo Medical

Laboratories for its Highly Effective

Competitive Strategy in the Clinical Laboratory

Market

PR Newswire

MOUNTAIN VIEW, California, May 30, 2012

- MML's use of competitive intelligence has produced successful programs on

hospital outreach, regional distribution, and new product development

MOUNTAIN VIEW, California

,

May 30, 2012

/PRNewswire/ -- Based on its recent

analysis of the clinical laboratory market, Frost & Sullivan recognizes Mayo

Medical Laboratories (MML), Mayo Clinic's reference laboratory, with the 2012

North American Frost & Sullivan Award for Competitive Strategy Leadership.

2011 was a difficult year for the clinical laboratory market. Yet, unlike many in

the laboratory industry, MML experienced growth derived from the execution of

a keen competitive strategy. With a marketing research and strategy group in

place for many years, MML's effective use of competitive intelligence has

produced successful programs on hospital outreach, regional distribution, and

new product development that have led to increased market value, compared

to the high-volume laboratories in the clinical laboratory space.

"MML held a strong competitive position by expanding test services and support

to its clients nationally, guiding strategies with competitive intelligence,

investing in innovative clinical research, the addition of a new IT infrastructure,

and emphasizing its strong reputation in patient care and customer outreach,"

said Frost & Sullivan Research Analyst Winny Tan. "In this multifaceted

approach, MML achieved top-line growth in a year when visits to the doctor

dropped 6 percent."

Considering that the mature and highly competitive clinical laboratory market is

dominated by two primary market leaders with a combined market share of

more than 40 percent, MML's continued growth and planned approach in

assisting hospital laboratories develop and grow their outreach practices is

significant. The ability to compete with the market leaders is extraordinary for

any market participant, but even more impressive for MML, which is guided by

Mayo Clinic's primary value and mission of patient care and support for the

local delivery of laboratory services.

A unique element of MML's competitive strategy is to invest in research and

development. While MML is operated as a for-profit entity, it also has no

obligation to investors like its publicly traded competitors. Rather than having to

pay earnings to investors, MML reinvests its profits on R&D. MML has a

recognized record of involvement in cutting-edge medicine, and its strong

commitment to publishing more than 650 scientific clinical research papers

annually ensures the development of new tests that will have a positive impact

on patient care.

"Since Mayo Clinic is known globally for its excellence in patient care, patient

satisfaction with its services translates easily to its associated Mayo Medical

Laboratories," noted Tan. "MML also provides community hospitals and