This paper examines the economic effects of federal regulations on laboratory costs, productivity and efficiency, especially in the pre-and post analytical production phases, as well as their cumulative effect on increases in the indirect costs allocated to production. A discussion of the foregone opportunities that have to be sacrificed to comply with federal regulations is also presented, using the Law of Diminishing Marginal Returns and the Production Possibilities Curve to explain why federal regulations cause diminishing financial returns and decreased productivity, especially in inefficient, not-for-profit production sites with excess idle time.
Learning Objectives: N/A
Keywords: , Economic Analysis
Presenting author's disclosure statement:
Organization/institution whose products or services will be discussed: None
I do not have any significant financial interest/arrangement or affiliation with any organization/institution whose products or services are being discussed in this session.