The global healthcare market is in a state of crisis and IoT services and technology can help to reduce the rising costs while also increasing the amount of care patients can receive. In the laboratory diagnostics industry, any machine downtime represents a loss of some sort either in dollars or in time, neither of which laboratories can afford. By connecting these mission critical assets through service contracts with the original equipment manufacturers, the life and utilization of the asset can be increased. Through remote monitoring, predictive maintenance, and remote maintenance, off site service contract providers can fix problems before the laboratory technologist even knows there’s an issue. Currently, the cost is too great for the majority of all laboratories to provide the full array and value of IoT services, but as costs associated with connecting and monitoring assets decreases and the number of IoT providers in the space increases, this technology will be more widespread.