LabCorp 2007 Annual Report Download - page 8

6 Laboratory Corporation of America® Holdings 2007
A monumental contract presents
a monumental test of operational
execution. Our historic, 10-year
agreement to be the sole national
laboratory for UnitedHealthcare was an
impressive milestone for LabCorp in
2007. Equally as impressive, however,
has been the rapid buildout of the
infrastructure necessary to meet
the increased volume and customer
service needs of United’s nearly
28 million members.
Within a three-month period, we
opened over 400 patient service centers
across the United States, hired over
1,700 people, completed thousands
of connectivity installations and
established an equal number of new
physician accounts. In some instances,
innovative thinking was required, as with
our relationship with Duane Reade, the
most recognized retail drug store in
metropolitan New York. To date, we
have established patient service centers
in over 20 of their stores. This mutually
benefi cial arrangement has been a
great success and a model that we will
consider in future market expansions.
Quality has been as important as
quantity in passing the tests posed by
the United contract. For this relation-
ship to make fi nancial and strategic
sense for us, it was critical to establish
LabCorp as the laboratory of choice
for United’s physicians and patients.
To this end, our representatives met
and visited personally with over 200,000
customer accounts to cement new
relationships. With the resulting record
testing volume at our laboratories
and record numbers of patients at
our service centers, we also had to
demonstrate our ability to deliver
quality service and convenience.
Again, we passed the test, with key
service metrics such as turnaround
and patient service center wait times
remaining at exemplary levels.
Test: Implement the largest
managed care contract in industry history
Over $250 million in
incremental revenue
Positive Result
Genetic Testing Benefits
The knowledge gleaned from prenatal genetic
testing can lead to better-informed choices
about family planning and management of preg-
nancy. Our genetic testing portfolio keeps pace
with rapid changes in this arena. It is now rec-
ommended, for example, that all pregnant
women, regardless of age, be offered screening
for Down Syndrome. LabCorp has become the
first national clinical lab to offer both integrated
and sequential screening tests for Down
Syndrome. These tests provide more sensitive
technology to achieve higher detection rates
and fewer false positive results.