LabCorp Expands Access to LabCorp AccuDraw® to Support Better Patient Care
Laboratory Corporation of America® Holdings(LabCorp®) (LH: NYSE) today announced the expandedavailability of its proprietary specimen collection and handlingsoftware, LabCorp AccuDraw®, to all clientsthrough its website at www.LabCorp.com. Combining on-screen visualcues with step-by-step tutorials, AccuDraw is an innovativetool designed to guide the health care professional who collectspatient specimens throughout the specimen collection process.AccuDraw helps to facilitate collection and appropriatestabilization of the correct specimen type and sample volume. Thistechnology-enabled solution leads to fewer errors in specimencollection and processing, a reduced chance of delays in testing,and a lower likelihood of having a patient undergo a second visitto a health care professional for further specimen collection.AccuDraw has been used in LabCorp's patient service centersand by LabCorp’s phlebotomists located in client locations for overfive years. AccuDraw has previously only been, and willcontinue to be, available to LabCorp clients through the LabCorpBeacon® application.
“As the world’s leading healthcare diagnostics company, LabCorpis committed to developing technology-enabled solutions that changethe way care is provided and improve patient outcomes,” said DavidP. King, Chairman and Chief Executive Officer of LabCorp. “OurAccuDraw system has dramatically improved the patientexperience, ensuring accurate collections for tests for over 100million patient encounters. We are excited to expand customeraccess to this successful tool.”
AccuDraw provides a detailed set of specimen collectionand handling instructions, allowing office staff to spend more timeon patient care and less time confirming the specimen collectionprocess and requirements. On-screen visual cues are combined withdetailed collection instructions to help ensure specimen andcollection accuracy in the physician office.
For patients and the physician office, AccuDrawprovides:
- Improved precision and accuracy –Visual cues are customized to the specific physician test order andlinked to LabCorp’s current test requirements.
- High-quality specimens – the guidedprocess and clear instructions helps to ensure the highest qualityspecimen is sent to the laboratory for testing.
- Time efficiencies – Reduce the amountof time spent speaking to the lab about specimen requirements oridentifying specimens that were not properly submitted to thelab.
- Reduction in repeat draws –AccuDraw’s collection, handling, and shipping guidancesignificantly reduces the need for patient redraws and repeatvisits.
AboutLabCorp®
Laboratory Corporation of America® Holdings, anS&P 500 company, is the world’s leading healthcare diagnosticscompany, providing comprehensive clinical laboratory servicesthrough LabCorp Diagnostics, and end-to-end drug developmentsupport through Covance Drug Development. LabCorp is a pioneer incommercializing new diagnostic technologies and is improvingpeople’s health by delivering the combination of world-classdiagnostics, drug development and knowledge services. With combinedrevenue proforma for the Covance acquisition in excess of $8.5billion in 2014 and more than 48,000 employees in over 60countries, LabCorp offers innovative solutions to healthcarestakeholders. LabCorp clients include physicians, patients andconsumers, biopharmaceutical companies, government agencies,managed care organizations, hospitals, and clinical labs. To learnmore about Covance Drug Development, visit www.covance.com. Tolearn more about LabCorp and LabCorp Diagnostics, visitwww.labcorp.com.
This press release contains forward-lookingstatements including with respect to estimated 2015 guidance andthe impact of various factors on operating results. Each of theforward-looking statements is subject to change based on variousimportant factors, including without limitation, competitiveactions in the marketplace, adverse actions of governmental andother third-party payers and the results from the Company’sacquisition of Covance. Actual results could differmaterially from those suggested by these forward-lookingstatements. Further information on potential factors that couldaffect LabCorp’s operating and financial results is included in theCompany’s Form 10-K for the year ended December 31, 2014, includingin each case under the heading risk factors, and in the Company’sother filings with the SEC, as well as in the risk factors includedin Covance’s filings with the SEC. The information in thispress release should be read in conjunction with a review of theCompany’s filings with the SEC including the information in thesection of the Company’s Form 10-K for the year ended December 31,2014, subsequent Forms 10-Q, under the heading MANAGEMENT’SDISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS.
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Laboratory Corporation of America® Holdings
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www.labcorp.com
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