Study reveals that institutional funding has decreased year-over-year since 2011. Cores are turning to customers to make up the lost revenue.
In late February 2014, our team launched its fourth annual core management benchmarking study. The survey went to core managers and directors at hospitals, universities, and research institutes. Two hundred forty managers and directors responded. They represent over 40 different technology types from over 135 different institutions in North America, Europe, and the Asia-Pacific Region.
When comparing the data from the last four surveys, we found that funding from institutions has fallen year-over-year. Following this trend, Core managers cited generating revenue and meeting budgets as the top challenge they face.
Cores are turning to customers to make up the difference. Seventy percent of cores said their top goal for 2014 is to raise customer usage at their facility. However, the growth rate of core utilization has fallen since the study’s inception. From 2009-2010, 64% of cores said they experienced an increase in core usage, whereas in this year’s study only 4% of cores experienced an increase in utilization.
Core managers are struggling to balance the numerous responsibilities of running a core; however, core managers who use electronic systems to manage core operations spend an average of 22% less time on administrative tasks as compared to those who use other means, such as manual entry or spreadsheets. This same group also cited a much higher satisfaction rate with the tools they use.
To view the full results of the 4th Annual Core Facility Management Benchmarking Study, please click on the following webpage: https://www.agilent.com/en-us/products/crosslab-enterprise-services/ilab-operations-software/benchmarking-study