Announcing leadership and excellence in value-based care
LabCorp and HealthEC Launch Transformative Oncology Care Module
New Software ToolDesigned to Help Oncologists Improve Patient Outcomes and Achieve Cost-Saving Goals
Available Exclusively through LabCorp and Powered by HealthEC®
BURLINGTON, N.C. and EDISON, N.J.—Oct. 9, 2020 —LabCorp (NYSE: LH), a leading global life sciences company that is focused on advancing health and guiding patient care decisions, and HealthEC, LLC, a leading provider of population health management solutions, today announcedthe launch of LabCorp’s Care Intelligence Oncology Module (Oncology Care Module). LabCorp’s Oncology Care Module is designed to empower oncologists to improve patient outcomes and achieve cost-savings by making it easier to access and compare key data points and performance metrics. Available exclusively through LabCorp, the single-platform solution connects claims and clinical systems using the LabCorp Care Intelligence™ application, powered by HealthEC®.
LabCorp’s Oncology Care Module helps oncology practices measure performance against critical quality and cost benchmarks, including value-based care objectives. The solution consolidates clinically relevant patient and practice data points to provide a more detailed, holistic view of each patient. As part of LabCorp’s Care Intelligence application, the Oncology Care Module integrates securely and seamlessly with electronic health records and other practice management tools and systems. It combines clinical, claims, pharmacogenomics, and staging data; genetic and other clinical laboratory test results; and the patient’s Eastern Cooperative Oncology Group Performance status in a format that is easy-to-use for busy physicians.
LabCorp’s Oncology Care Module provides clinicians with real-time access to critical information that can improve patient outcomes, manage costs, and optimize quality-of-life for patients. The solution also supports patient communications with their care team and allows for patient reported outcomes (ePRO) relevant to their care. Access to this data provides a more comprehensive picture of patient status than information captured through clinical visits alone. Additionally, the tool has the ability to identify patients who may qualify to participate in clinical studies of new treatments through Covance, LabCorp’s drug development business, as well as monitor the progress of patients who are participating in a study.
"LabCorp continues to look for more ways to improve outcomes for cancer patients through the unique combination of our capabilities in diagnostics, drug development, and technology," said Dr. Brian Caveney, president of LabCorp Diagnostics. "Clinicians, patients, and managed care organizations are increasingly relying on data to identify new treatments, improve patient outcomes, and manage costs. Our Oncology Care Module brings together important information to meet those objectives and helps people make more informed decisions."
"As new technologies transform cancer care, oncology practices need comprehensive support to run their operations efficiently and ensure patients receive quality carein today's value-based care environment," said Arthur Kapoor, chairman and chief executive officer at HealthEC. "We're pleased to extend our collaboration with LabCorp and look forward to helping oncology providers optimize operations with advanced data aggregation and analytics solutions as the healthcare industry transitions from volume to value."
For more information about the LabCorp Care Intelligence application, please visit https://www.labcorp.com/CareIntelligence.
HealthEC, LLC is a 2019 Best in KLAS population health technology company on a mission to help its customers succeed with value-based care. HealthEC®, a single-platform solution, enables personalized healthcare by leveraging the power of connectivity and interoperability: connecting claims and clinical systems, enabling data-driven collaboration between payers and providers, and streamlining care coordination across the healthcare landscape. Organizations are empowered with comprehensive analytics and integrated, role-based tools that translate insights into strategies, address care gaps, and improve quality metrics. To learn more, visit us at visit us at Healthec.com, Twitter, LinkedIn and Facebook.
LabCorp (NYSE: LH), an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostics solutions, brings innovative medicines to patients faster, and uses technology to improve the delivery of care. LabCorp reported revenue of more than $11.5 billion in 2019.
To learn more about LabCorp, visit www.LabCorp.com, and to learn more about LabCorp’s drug development business, Covance, visit www.Covance.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements with respect to scientific collaborations, customer contracts and relationships, the anticipated benefits of such collaboration and relationships, and the expected impact that the various collaborations and customer relationships may have on the Company’s financial results. Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the Company’s control,including without limitation, the Company’s ability to establish and maintain strategic partnerships and other scientific collaborations, competitive actions in the marketplace, and other unforeseen changes and general uncertainties in the marketplace, changes in government regulations, including healthcare reform, customer purchasing decisions, including changes in payer regulations or policies, adverse actions of governmental and other third-party payers, patient safety issues, changes in testing guidelines or recommendations. These factors, in some cases, have affected and in the future (together with other factors) could affect the Company’s ability to implement the Company’s business strategy and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the Company’s most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the Company’s other filings with the SEC.
Media: Donald Von Hagen— 336-436-8263
Investors: Clarissa Willett— 336-436-5076