LabCorp 2012 Annual Report Download - page 5

this technology to replace manual splitting and sorting
throughout our major laboratories, enhancing effi ciency
and reducing turnaround times. Propel complements our
LabCorp TOUCHTM accessioning, which provides leading-
edge automation at our patient service centers and allows
us to reduce the amount of accessioning performed in our
core laboratories.
We continue to expand our Powell Center for Esoteric Test-
ing, using LEAN principles to conduct testing more effi ciently
and consolidate satellite locations. We also use LEAN strate-
gies to create process improvements in our billing and
collection operations, which helped us to lower our bad debt
rate to 4.3 percent at the end of 2012, an improvement of
30 basis points over last year, and to maintain our accounts
receivable days sales outstanding at 46 days, unchanged year
over year.
Our fourth strategic pillar is to continue scientifi c innovation
at reasonable and appropriate pricing.
Introduction of new tests remains an important growth
driver for LabCorp, and we continue to collaborate with
leading companies and academic institutions to provide
physicians and patients with the most scientifi cally
advanced testing in our industry. During 2012, we introduced
123 new tests and strengthened our capabilities across
several testing disciplines.
We also undertook the following key scientifi c initiatives
in 2012:
• We launched our Cardiovascular Disease Risk Assessment
Program to assist physicians in screening and risk assess-
ment, diagnosis and confi rmation and the management of
cardiovascular disorders. This program, available through our
Beacon® platform and our customer’s EMR, uses innovative
result displays, analytics and trending as well as Cardiovas-
cular Disease Risk Assessment decision support for
individualized lipid assessment and patient counseling.
• We enhanced our Women’s Health initiatives by introducing
a series of tests derived from a single collection swab,
making collection of samples convenient for physicians
and patients. Our NuSwabSM tests offer clinically validated
profi les for targeted clinical conditions, and they are confi g-
ured to provide high-quality results to guide diagnosis and
treatment and reduce cost.
• We announced our collaborative relationship with Ariosa
Diagnostics, through which we offer an innovative non-
invasive test for detection of common fetal trisomies, such
as Trisomy 21 (associated with Down syndrome), using
DNA in maternal blood. The test is performed by Ariosa
using a simple maternal blood draw and provides a safe,
highly accurate test for common fetal trisomies in high-
risk pregnancies.
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Better
Outcomes
Higher Quality
Lower Costs
Core Competencies
LabCorp Capabilities Meet Every Requirement
of New Care Models