Connecting patients and providers to clinical trials
Labcorp's clinical research arm, Labcorp Drug Development, supported the development of 87%of all drugs approved by the FDA in 2020. This strength and depth of knowledge has helped the health system triple its participation in clinical trials since the start of their partnership with Labcorp. By participating, the health system is better positioned as an industry leader and high-performing research center, and patients are able to gain access to potentially life-changing treatments.
Academic collaboration fuels innovation
Labcorp's extensive investments in science and research made it a good fit with the academic health system. Since the inception of this strategic partnership, the two organizations have worked closely on next-generation technology that improves disease detection and monitoring.
For example, digital pathology, which replaces traditional slides and microscopes with digital images, became a critical necessity during the COVID-19 pandemic. Implementing digital pathology tools allowed pathologists to work remotely and still collaborate with colleagues both at the health system and around the world.
Additionally, the health system has tapped into Labcorp's data and analytics capabilities to identify patients who could benefit from new therapies. In one case, Labcorp was able to identify approximately 600 patients who had either tested positive or were at risk for hepatitis C. As a result of Labcorp's analytics, the health system was able to follow up with those patients to provide care using several available therapies to successfully treat the disease.
Single-partner approach improves standardization and efficiency
Prior to its relationship with Labcorp, the health system worked with a variety of vendors and used multiple internal systems. By shifting the bulk of testing to Labcorp, the health system was able to free up both capital and space to enhance core services including cancer care and cardiac services.
The single-partner approach optimized efficiency, quality and profitability of laboratory testing. From standardizing with state-of-the-art lab instrumentation to centralized management and lab consolidation, the health system has benefited from Labcorp's deep knowledge of lab operations and best practice.