LabCorp Launches New Enhanced Report for Medical Drug Monitoring
November 30 2015 - 5:25PM
Business Wire
The LabCorp MedWatch®
ToxAssure® report joins a suite of proprietary
decision support tools to assist clinicians in patient
management
Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:LH)
announced today that MedTox Laboratories (MedTox), a member of the
LabCorp Specialty Testing Group, introduced a new enhanced
report for medical drug monitoring, the LabCorp MedWatch®
ToxAssure® report. The ToxAssure report provides a visual summary
of test result findings and is designed to assist physicians in
monitoring drug test results relative to a patient’s prescribed
medications.
“Proper management of prescription and other drugs is a major
challenge for our healthcare system and its providers,” said Mark
Brecher, M.D., LabCorp’s chief medical officer. “Clinicians are
under increasing demand to deliver improved outcomes while also
controlling costs, and the enhanced LabCorp MedWatch ToxAssure
report provides physicians with clear, understandable data about
patient drug use that facilitates improved patient care.”
ToxAssure test options provide physicians with broad-spectrum
drug analysis to assess a wide range of medication use, including
the identification of prescribed, unprescribed, over-the-counter,
and illicit drugs. The report includes additional information that
assists physicians in interpreting results and better managing
patient compliance.
The efficient report format provides an easy-to-read, visual
representation of results, including helpful comments about the
drugs and metabolites identified in the urine against a patient’s
declared prescription list. In addition, the report allows the
patient’s physician to quickly identify and review results that are
separated into useful categories: present and declared, absent but
declared, or present and not declared.
This new report adds to the suite of enhanced decision support
reports available from LabCorp to assist clinicians and patients
with the management of common chronic diseases such as chronic
kidney disease, cardiovascular disease, type 2 diabetes, kidney
stones, and coagulation disorders.
“We are pleased that demand for our enhanced reporting services
has dramatically increased as patients and physicians recognize the
value of these innovative tools. LabCorp is on pace to deliver more
than 5 million enhanced reports in 2015, a significant increase
over prior years,” said David P. King, LabCorp’s chairman and chief
executive officer. “These reports, which are available to
physicians ordering tests from LabCorp, provide actionable
diagnostic information to change decision making and will help to
improve health and improve lives for patients.”
About LabCorp®
Laboratory Corporation of America® Holdings, an S&P 500
company, is the world’s leading healthcare diagnostics company,
providing comprehensive clinical laboratory services through
LabCorp Diagnostics, and end-to-end drug development support
through Covance Drug Development. LabCorp is a pioneer in
commercializing new diagnostic technologies and is improving
people’s health by delivering the combination of world-class
diagnostics, drug development and knowledge services. With combined
revenue pro forma for the acquisition of Covance in excess of $8.5
billion in 2014 and more than 48,000 employees in over 60
countries, LabCorp offers innovative solutions to healthcare
stakeholders. LabCorp clients include physicians, patients and
consumers, biopharmaceutical companies, government agencies,
managed care organizations, hospitals, and clinical labs. To learn
more about Covance Drug Development, visit www.covance.com. To
learn more about LabCorp and LabCorp Diagnostics, visit
www.labcorp.com.
This press release contains forward-looking statements including
with respect to estimated 2015 guidance and the impact of various
factors on operating results. Each of the forward-looking
statements is subject to change based on various important factors,
including without limitation, competitive actions in the
marketplace, adverse actions of governmental and other third-party
payers and the results from the Company’s acquisition of Covance.
Actual results could differ materially from those suggested by
these forward-looking statements. Further information on potential
factors that could affect LabCorp’s operating and financial results
is included in the Company’s Form 10-K for the year ended December
31, 2014, and the Company’s Form 10-Q for the quarter ended
September 30, 2015, including in each case under the heading risk
factors, and in the Company’s other filings with the SEC, as well
as in the risk factors included in Covance’s filings with the SEC.
The information in this press release should be read in conjunction
with a review of the Company’s filings with the SEC including the
information in the Company’s Form 10-K for the year ended December
31, 2014, and subsequent Forms 10-Q, under the heading MANAGEMENT’S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS.
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Laboratory Corporation of America® Holdings
(LabCorp®)Investor/Media Contact:Paul Surdez,
336-436-5076Company Information: www.labcorp.com
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