Updated April 3, 2019.
Total healthcare spending in the United States in 2017 was $3.5 trillion or 17% of the nation’s total gross domestic product (GDP). The total for 2018 has not yet been announced, but it’s expected to be at least 5.3% more. Although a large portion of those dollars are spent paying for services from licensed doctors and other providers, entrepreneurs with no medical training can still participate in the healthcare sector with one of the top 3 laboratory services franchises on this list.
Lab tests are a significant piece of the overall healthcare puzzle. After all, 70% of all medical decisions are based on clinical labs. But getting the tests you want when you want them can be a major headache when working within the confines and bureaucracy of the traditional healthcare system.
If an individual wants to know if they are deficient in vitamin D, finding out through the normal channels can be a major hassle, but getting a test done at a laboratory franchise location is quick and easy. The consumer is free to share the results with their healthcare provider as they see fit. Thousands of tests are offered this way, from clinical lab tests, paternity and other DNA family relationship tests, to drug, alcohol, and other toxicology testing services often needed by employers.
The franchise location establishes working relationships with many laboratories around the country and acts as the link between the consumer and the laboratory, collecting the sample that will be tested and sending it off to a lab in its network. Many of the tests will still require a doctor’s order, but many do not.
Here are the 3 best laboratory services franchises of 2019:
1. Any Lab Test Now
Any Lab Test Now is a direct-access lab testing services company that empowers consumers to proactively manage their own health by ordering clinical lab tests for themselves. Businesses can also take advantage of these services for any lab tests that fit their employment policies.
All of its tests have an up-front price tag with no hidden fees. No appointments are required and locations have work-friendly hours that typically include Saturdays. The analyses of samples are conducted by a wide range of established laboratories throughout the U.S., with results typically delivered within 24-72 hours.
Thousands of tests are available that fall within categories such as general health and wellness, heart health, cholesterol, diabetes management, nutrition, allergies, sensitivities or intolerances, teen or employer drug testing, STDs, paternity, and more.
The company is careful to note that it does not perform any diagnosis or treatment. Each customer is expected to take the results to their doctor or healthcare provider to take next steps.
This company currently ranks #423 (down from last year’s position of #352) on Entrepreneur magazine’s Franchise 500 list. Founded in 1992 and franchising since 2007, the number of locations has grown only slightly in recent years and currently stands at 172 (up from last year’s total of 166), all of which are in the U.S. and none of which are company-owned.
2. ARCpoint Labs
ARCpoint Labs serves individuals, companies, and legal and healthcare professionals as a full-service national third-party administrator of diagnostic tests in the main categories of drugs, alcohol, clinical healthcare, corporate wellness programs, DNA, employment/background checks, and steroids and other performance-enhancing drugs (PEDs).
ARCpoint conducts some of its testing on-site, which is why it places more emphasis on its workplace testing services. It maintains affiliations with DATIA (Drug and Alcohol Testing Industry Association) and SAPAA (Substance Abuse Program Administrators Association) and is certified under 49 CFR Part 40, and hires lab technicians who are certified, qualified, and trained in accordance with Department of Transportation procedures for conducting workplace drug and alcohol testing programs.
When appropriate or required, ARCpoint locations comply with Clinical Laboratory Improvement Amendments (CLIA) certifications or partners with CLIA-certified laboratories.
Franchisees have the freedom to focus broadly or narrowly among four distinct business segments, including solutions for employers, the legal and judicial segment, the physician niche, and/or the individual health-conscious consumer.
Founded in 1998 and franchising since 2005, the number of locations has grown steadily over the past 10 years from 19 in 2008 to the current total of 104, all of which are in the U.S. and only two of which are company-owned.
3. Fastest Labs
Fastest Labs was started in 2008 by founder Dave Claflin in San Antonio, Texas to provide drug, alcohol, and DNA testing services for individuals, employers, and organizations with a focus on speed, accuracy, and affordability. Its main services are used in helping businesses comply with Department of Transportation regulations, generating court-admissible DNA results for legal proceedings, and assisting in the creation and implementation of ongoing random drug testing programs for companies and organizations that need them.
With its narrower focus in the types of tests offered, the analyses are performed on the premises of each location for fast, often instant results. Beyond its own in-lab testing, the company also offers on-site mobile testing services, policy creation and implementation, drug and alcohol testing, ongoing program management, and more.
This company currently ranks #472 (up from last year’s position of #497) on Entrepreneur magazine’s Franchise 500 list. Founded in 2008 and franchising since 2010, the number of locations has grown from just one in 2010 to the current total of 32 (up from last year’s total of 22), all of which are in the U.S. and only one of which is company-owned.
An Important Note About Our Methodology
The franchises on this list were ranked according to the number of units in the franchise system. If you are a prospective franchisee searching for franchise opportunities that meet or exceed certain performance benchmarks for sales, profits, and return on investment, please check out this list of America’s Most Lucrative Franchises.
Leave a Reply