Last Updated | October 7, 2022
Executive Summary – LIMS Software Cost
LIMS is a reliable platform for laboratories to log, record, track, and record scientific data as well as patients’ data. In addition, it improves the quality control and quality assurance processes by checking the data against industry standards. If you are looking to implement LIMS in your lab but are confused about the LIMS software cost, this article has a complete guide for you…
Introduction – LIMS Software Cost
LIMS (laboratory information management system co.) is a dedicated platform that’s designed around a centralized samples database. With an intuitive healthcare UX design LIMS record the digital data, and track the instruments, metadata, workflows, and results associated with each lab sample. LIMS is widely used by laboratories to ensure compliance with industry regulations and standards.
It’s safe to say that the use of LIMs optimizes the lab process for higher productivity and efficiency. However, many labs don’t implement LIMs because they aren’t certain about the LIMS system cost. So, to help you understand what LIMS is and what is the usual LIMS pricing, we have curated this in-depth guide!
Explore: Advantages of Using Laboratory Information Management Systems
How Much Does LIMS Software System Cost?
The final LIMS cost depends on the category of implementation. The common categories include data organization, process automation, and digital transformation. All of them have different prices, so let’s check out the details;
- Data Organization
This is the easiest and quickest form of implementation, and it’s focused on organizing the sample inventory. Usually, the labs use Excel to organize the data, but with LIMS, the sample data’s recording, tracking, and auditing become easier. This is the most convenient category to complete because there is no need for complicated configuration and engineering.
It’s a reliable choice for labs that need end-to-end traceability of samples, advanced security, and role-based permissions. It takes over three to four weeks to implement, and LIMS software price ranges from $15,000 to $20,000.
- Process Automation
The second category helps automate the manual steps that are included in the workflow. In case you want to manage the inventory, it automates the decrementing of stock levels. In addition, it shows the progress of lab reports, starting from report generation to distribution. The final Laboratory information management system cost software cost for this category depends on the number of processes, but approximate costs range from $30,000 to $50,000.
- Digital Transformation
This is the most complicated form of implementation and includes other parts of the health organization, such as customer support and sales. It helps document the entire end-to-end process, and the entire process is documented in the form of a process flow diagram. The implementation can take over three months, and the costs start from $60,000.
Explore more: Different Stages Involved in Developing Custom Laboratory Data Management Software
How to Get an Accurate Estimate of the Costs Associated With A LIMS Implementation
There are many various LIMS software cost factors, such as software licenses, optional modules like instrument calibration and interfacing, hardware, training services, support services, customization, and implementation costs. However, all these cost factors are applicable to every solution. For instance, the SaaS-based LIMS solution wouldn’t include the cost of routers and servers. So, let’s check out different LIMS solutions and their costs;
- SaaS-Based LIMS
SaaS-based LIMS has user license costs, which range from $200 to $1500 per user a month. The license costs are integrated with user costs and support costs. This platform is more affordable as there is no need for additional hardware, and only peripheral devices like laptops, barcode readers, and printers have to be paid for.
- Web-Based or Client/Server LIMS
A web-based or client/server LIMS range from $3000 to $13,000 per user. With these LIMS solutions, you will own all the licenses, but you have to pay the cost for peripheral as well as hardware devices. For instance, you might have to expand the current server to support the LIMS, and customization of the solution can also increase the price. Also, there are support costs which are 15% to 20% of user license fees a year.
What Are Some Ways To Reduce The Costs Of A LIMS Project?
To reduce the LIMS software cost, it’s recommended that you automate as many processes as you can. Honestly, it will increase the upfront costs, but automation will pay dividends in the future. In addition, you should interface the instruments and look for the most stressful task in the lab that leads to errors.
Secondly, you must get the LIMS configured to implement the result’s approval by exception. For this purpose, the LIMS will be configurable with allowable specs for individual processes and products. Also, you should try to minimize customization so the OQ and vendor IQ test scripts are sufficient.
Is It Worth The Investment To Purchase A LIMS System For My Business?
Any healthcare app development is surely a costly venture for any medical practitioner or healthcare institute. When it comes to LIMS, it’s an important investment for any lab because it does more than merely keeping track of lab results and sample information. It allows the labs to actively manage the lab process, ranging from sample provision to instrument maintenance. In addition, it makes the lab more efficient, and automated processes help flag errors. There are many other benefits of purchasing an LMS, such as;
- Compliance with industry regulations and standards
- Minimizes the costs caused by data entry errors
- Improves the search capabilities
- Keeps track of consumables and reagents
- Integrates with existing software
- Optimizes instrument utilization
How Can I Justify The Cost Of A LIMS System To My Boss Or Company Shareholders/Ownership Group?
To justify the cost of a LIMS system to the higher management, it’s important that you describe the current situation by identifying the functionality, analyzing the workflow, and quantifying the test and sample throughput. Then, you’ve to consider the management objectives and show how LIMS can fulfill the need for new technology.
In addition, you have to calculate the ROI (returns on investment) and show it to the higher management, along with the tangible benefits, such as easier access to reference material, availability of information for quicker planning and decision-making, and procedural consistency. Lastly, always estimate the saved time in the form of cost savings per person to persuade because higher management focuses on numbers.
Helpful: Pros and Cons of Resource Augmentation in Healthcare
Implementing a LIMS and knowing the actual LIMS software cost can be a challenging and complicated process. In addition, it’s time-consuming, which is why robust and proactive planning is essential; don’t forget to factor in the processes that you’ve to automate. Lastly, always hire a reliable company for developing a medical app that’s customized to your practice needs!
What are some of the factors that affect the cost of a LIMS system implementation?
The common factors that impact the LIMS software cost include the number of users, additional modules, number of lab processes or tasks, mitigating costs, and number of instruments.
Is there a way to get an estimate of how much my company’s specific needs will cost us for LIMS project budgeting purposes?
The most effective way of building an estimate is to identify the cost of every item and process included in the LIMS development process, including materials, labor, and time.
How to get the most out of your LIMS software investment?
To begin with, it’s essential to choose the correct LIMS system that meets the process needs and organizational goals. In addition, take advantage of the current system and make only necessary changes. The best approach is to hire custom medical software development services to get tailored LIMS software that meets and exceeds your medical requirements.