Press Release: Add Your Labs Raising Capital

Illinois-based clinical lab software developer launches a new Regulated Crowdfunding (RegCF) Campaign.

Add Your Labs announces the launch of their first Regulated Crowdfunding (RegCF) campaign.

The design of Add Your Labs’ technology allows for customizable software solutions, which was built to help medical testing labs overcome a critical problem facing our healthcare system, EMPLOYEE BURNOUT.

“It’s simple. We take manual processes and turn them into automated integrated workflows,” said Frank Adamo, ceo and founder of Add Your Labs.

Add Your Labs developed and deployed its’ first version (v1) of software to clinical labs in response to the pandemic. “Clinical labs were at the forefront in the fight against the pandemic. Our industry faced unprecedented demands and looked to technology for help. The pandemic is helping push our industry into the digital revolution and Add Your Labs is in the perfect position to help these employees,” said Adamo.

The Problem

The US is facing a critical shortage in qualified medical lab personnel. The shortage is leading to greater workloads for lab employees, which significantly increases stress and lowers job satisfaction. Adamo cites a newly released survey by the American Society for Clinical Pathology, who found that 85.3% of medical testing laboratory professionals have faced burnout1. “I was stunned when I read that data. I figured it was bad because of the pandemic, but then you realize this problem already existed. COVID just made it worse. Medical labs must now manage a significant amount of employee burnout. That is exactly what we aim to do with our software,” said Adamo.

Medical lab testing is such a critical part of the healthcare system. The CDC reports that 70% of all medical decisions are informed by medical lab tests4. “We want to help improve health outcomes, by allowing labs to increase their productivity while saving cost,” said David Haines, the company’s Co-founder and Lead Technology Developer. “Our product has now been in the market for over 20 months. We have learned a lot about our client’s pain points and how our software helps. We need to do everything we can to ensure the integrity of lab results,” said Haines.

The Crowdfunding Campaign

To help the Company achieve its goals in the medical lab industry, Add Your Labs announces the launch of a Regulated Crowdfunding (RegCF) campaign.

Add Your Labs’ equity regulated crowdfunding campaign will give more people the opportunity to invest in a quality company that is going to make a big impact! “This campaign allows all of us to become part of the solution by investing directly into our company. We welcome our early investors who helped us raise over $45,000 in just the first week of the campaign,” said Adamo. “We couldn’t be more thrilled and prouder to have these investors be part of our family. We will do great things together!”

The goal of any medical lab is to achieve greater operational efficiencies, which leads to increased productivity. Labs are now challenged, more than ever, to meet these goals with a limited number of employees who are overworked. Technology adoption has been limited in the industry. Some labs are exploring more advanced digital strategies, which can make a bigger difference sooner. “The great thing about Add Your Labs’ software is that it has the ability to be customized and integrated with other software, without busting budgets. By affordably providing more advanced technologies, we help labs become more automated, which relieves some of the workload on their employees.” said Adamo. “We feel that we are in a very good position to make a big impact and minimize employee burnout.”

About Add Your Labs

Add Your Labs’ mission is to improve the quality of healthcare while lowering costs, by building operational efficiencies within medical labs. With affordable and customizable software solutions, Add Your Labs makes advanced technology adoption more of a reality for medical labs.

We started Add Your Labs due to a critical shortage of medical lab personnel. Understaffed labs lead to burnout. Labs are a critical part of our healthcare, performing 14 billion tests/yr which inform 70% of all medical decisions.

Faster, Better, and More Affordably. Our goal is to help medical labs lower the cost of testing and decrease workload on their employees, all while increasing productivity, by providing customized software solutions.

Campaign Link: Add Your Labs’ Campaign Page

Contact: support@addyourlabs.io

References:

1) Am J Clin Pathol April 2020;153:470-486. The American Society for Clinical Pathology’s Job Satisfaction, Well-Being, and Burnout Survey of Laboratory Professionals

2) https://www.forbes.com/sites/judystone/2022/04/28/were-facing-a-criticalshortage-of-medical-laboratory-professionals/?sh=543ca0bf260c2)

3) https://www.clinicallab.com/burned-out-in-an-understaffed-lab-this-survey-saysyou-re-not-alone-26663

4) https://www.cdc.gov/csels/dls/strengthening-clinical-labs.html