Labcorp announced this week that it had partnered with Ascension to manage the health system’s hospital-based laboratories in 10 states. It will also purchase some assets of Ascension’s outreach lab business.
Through the partnership, Ascension’s clinicians and patients will have access to Labcorp’s diagnostics and at-home test collection services. Labcorp representatives did not clarify by press time whether those services will be available to providers and patients in more than 10 states.
“This collaboration will allow us to continue our transformation as we find new and innovative ways to care for those that we’re privileged to serve during these unprecedented times,” said Dr. Joe Cacchione, executive vice president of clinical and network services at Ascension, in a statement.
“We will work closely with Labcorp to ensure that our patients and clinicians have a seamless experience,” Cacchione continued.
WHY IT MATTERS
According to the organizations, the relationship will enable Ascension to enhance laboratory services and offerings via Labcorp’s technology and scale. In turn, Labcorp’s clinical lab services will be expanded in several regions.
Out of the 19 states and District Columbia in which Ascension operates, Labcorp will manage its hospital labs in Alabama, Florida, Kansas, Maryland, Michigan, New York, Oklahoma, Tennessee, Texas and Wisconsin.
Labcorp also said it would use proprietary analytic tools and processes to improve overall efficiency.
The companies drew particular attention to Labcorp Drug Development, which Ascension says it can use to present physicians and patients with access to clinical trials, innovative therapies and new treatment options where appropriate.
“By connecting two mission-driven organizations delivering high-quality service and care, we can provide care teams with the information and tools needed to make the best possible decisions to improve patient outcomes,” said Adam Schechter, chairman and CEO of Labcorp, in a statement.
Although the specific transaction terms were not clarified, the companies expect the deal will close in the first half of 2022.
THE LARGER TREND
The news comes on the heels of Labcorp’s announcement this past week that it had launched a digital diagnostics platform, aiming to offer patients a more convenient way to access blood and COVID-19 PCR tests.
Meanwhile, Cue Health also spun up a platform that offers members access to 24/7 virtual care and on-demand COVID-19 tests, as well as physician-ordered diagnostics for other needs.
ON THE RECORD
“This relationship highlights Labcorp’s ability to help health systems effectively manage industry-wide shifts and offer patients expanded testing services as we work to improve health and improve lives,” said Labcorp’s Schechter.
Kat Jercich is senior editor of Healthcare IT News.
Twitter: @kjercich
Email: [email protected]
Healthcare IT News is a HIMSS Media publication.
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