A blood letting lancet assembly for puncturing the skin of the finger tip for home use that causes less pain includes a mechanism for reproducibly orienting the assembly on the finger tip. The blade may be moved to any of a plurality of indexed positions within the device. By indexing the blade to the next position and reproducibly orienting the device on the finger tip, the user can avoid a second puncture close to the first puncture which reduces pain. A new method for rapidly advancing and retracting the blade further reduces pain. An accessory capillary collects the exact volume of blood required for a test and avoids needless attempts to collect excessive blood. A magnetic blade holder simplifies blade changing.