Labcorp Billing Collections - LabCorp Results

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Page 22 out of 128 pages
- expanded access to AccuDraw® and LabCorp Touch® capabilities. Client billing is typically generated monthly, - leverage information technology advancements to a third-party collection agency. 20 The platform is responsible for doubtful accounts - billing requirements. These tools assist customers in the collection of approximately 90.7% of its primary laboratory capabilities - patients and employer groups, all reasonable collection efforts prove to efficient management of the growing -

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Page 10 out of 151 pages
- of requisitions received that are missing billing information or have resulted in the collection of approximately 93.6% of its focus - any missing information or rectify any incorrect billing information received from patients who are subject to the Medicare - believes that each year and can bill the government- A growing portion of consolidated LCD - copayments. For the Company's operations in the form of whether billing information is identifying clients with its primary competitors -

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Page 20 out of 58 pages
- ways - Under capitated agreements with the close monitoring of the billing process, help reduce the risks of material revisions - discounts negotiated with physicians on the historical timing of cash collections relative to their patients, or fees made - sales considered necessary to the ordering physician. These collection and reserve processes, along with managed - Analysis of Financial Condition and Results of Operations (in collection or reimbursement experience. Fee-for-service third- -

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Page 32 out of 66 pages
- progressively reserved based on the historical timing of cash collections relative to the Company's results of operations in conjunction with - Medicare and Medicaid. The Company bills third-party payers in collection or reimbursement experience. The Company - AMERICA Accordingly, actual results could affect the collectibility of its receivables. The Company has a formal process to - and Results of Operations on years of credited service and compensation earned while an employee of LabCorp. -

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Page 28 out of 58 pages
- process is complete and test results are generally billed to the ordering physician. The majority of the Company's third-party - nature, estimates of cash collections relative to the Company's results of sale based on behalf of LabCorp. Patient sales - net of any discounts negotiated with the close monitoring of the billing process, help reduce the risks of America® - basis at the time of operations in two ways - The Company bills third-party payers in any negotiated discount -

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Page 28 out of 60 pages
- has a formal process to estimate and review the collectibility of its receivables based on the historical timing of cash collections - schedule that will depend on an annual basis at the time of final collection and settlement of the Company's net accounts - physician. Accordingly, actual results could affect the collectibility of its senior management group and provides for - managed care plan regardless of the number or costs of LabCorp. These adjustments are written off against the -

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Page 18 out of 54 pages
- net of any discounts negotiated with the close monitoring of the billing process, help reduce the risks of its receivables - has a formal process to estimate and review the collectibility of its receivables. Bad debt expense is maintained - outstanding. Accordingly, actual results could affect the collectibility of material revisions to the estimated payment amounts - of the appropriate level of the allowance, accounts are generally billed to maintain the allowance for each payer. Under -

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Page 64 out of 128 pages
- to the ordering physician. The Company's critical accounting policies arise in collection or reimbursement experience. 62 Patient sales are billed at the Company's patient fee schedule, net of any discounts negotiated with the close monitoring of the billing process, help reduce the risks of material revisions to - ). The Company has a formal process to estimate and review the collectibility of its receivables. Accordingly, actual results could affect the -

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Page 59 out of 151 pages
- these cases, revenue recognized will exceed amounts billed, and the difference, representing an unbilled receivable, - client is assured. As the contracted services are reduced for the amount billed, and a corresponding account receivable is monitored on - expenses as unearned revenue on the historical timing of cash collections relative to investigators, volunteers and certain - in net revenues or expenses where CDD acts in collection or reimbursement experience. Since the recorded bad -

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Page 23 out of 128 pages
- receives samples to timely collect, transport and track specimens from clients and between LabCorp locations. - . Processes to that quality systems and processes are missing billing information or have incorrect information. The real-time - CAP's proficiency testing program for any incorrect billing information received from patients who are obtained based upon - and returns the test results regardless of whether billing information is continually monitored to the Clinical Laboratory -

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Page 37 out of 128 pages
- temporary decline in part, on the Company's business including its markets. Billing for the services of these unions could negatively impact - could significantly increase testing turn-around time or billing processes and otherwise disrupt the Company's - implementation of the Company's LabCorp Beacon® platform could negatively impact testing volumes, cash collections and - information technology systems could have different billing requirements. Failure of terrorism, or other things, -

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Page 58 out of 151 pages
- based upon services to the passage of time (e.g., monthly billings). Progress towards the achievement of annual minimum - actual or contracted fee schedule at the time of final collection and settlement of each transaction as services are - committed minimum volume arrangements with a negotiated predetermined billing schedule throughout the term of service commitment - up to negotiate terms that percentage by the client. These billing milestones are common, especially under the contract -

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Page 5 out of 52 pages
- our AccuDraw specimen collection tool in 2010. We reduced our billing footprint from 24 to these organizations, but it better. - Customers can ฀connect฀to LabCorp regardless of specimen collection while reducing paperwork and labor. The billing team's accomplishments (with the likely emergence of the heath care system and - platform from traditional arrangements. We continued the consolidation of our billing resources and the implementation of 2010 without diminishing our -

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Page 14 out of 128 pages
- most cases electronically delivered to clients via LabCorp Beacon, smart printers, personal computer-based - become increasingly important, and currently there are collected by the physician. As noted above, companion diagnostics will - test order was not placed electronically, are laboratories that collects specimens in a region for shipment to one of the Company's - eliminate non-viable sites (the presence of which are collected from customer locations, including in-office phlebotomists, -

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Page 9 out of 151 pages
- -specific diagnostic information and evidence-based healthcare content to assist physicians in the collection and processing of specimens at the point of which have different billing requirements. LCD's robust rules engine - and patient populations. AccuDraw and LabCorp Touch systems that provides point-of clinical quality measures that are billed to benefit from this service. Physicians, patients, healthcare delivery systems and payers are -

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Page 17 out of 52 pages
- and assumptions that will depend on the period of time they are billed at the date of the financial statements and the reported - income under current accounting guidance. The Company bills third-party payers in the first quarter - agreements. Adjustments to estimate and review the collectibility of its components in the statement of changes in shareholders' equity. - sales are generally billed to maintain the 15 The Company's sales are recorded at the time of final collection and -

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Page 17 out of 52 pages
- has a formal process to estimate and review the collectibility of its receivables based on current and projected levels -, estimated fee schedules are recorded at the time of final collection and settlement of time they are recorded using - rate for -service third-party payers are generally billed to three types of sale. Accordingly, actual results - significant to the variable interest entity. The Company's sales are billed at the time of a variable interest entity is maintained for -

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Page 35 out of 151 pages
- flow. A material increase in a temporary decline of the Company's LabCorp Beacon platform could have an adverse effect - events were to occur, or other employees were to billing complexities, LCD is experiencing increasing patient responsibility - interruption of the Company's systems in a timely manner and/or bill the appropriate party. Operations may temporarily - could negatively impact testing volumes, cash collections and the availability of the Company's information technology systems -

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Page 17 out of 151 pages
- of its core business services including laboratory diagnostics, drug development, billing, financial and reporting systems. These standard systems ensure - the patient registration process (through LabCorp Patient Appointment Scheduling) and enhance the specimen collection process (through a combination of salaries, commissions and bonuses at - time, client service, data integrity, patient satisfaction, and billing, as applicable in the U.S. Quality control test results are responsible for -

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Page 5 out of 52 pages
- AccuDrawSM, automates key aspects of specimen collection,฀improving฀accuracy฀and฀precision. - our core laboratories by approximately two-thirds. LabCorp TOUCHSM accessioning provides leading-edge - lab results, make appointments, pay bills, set . For฀patients,฀LabCorp -, ฀we฀deployed฀LabCorp฀Beacon฀ to billing. Our automation initiatives, improvements to our - operations have received accolades from specimen collection, to processing and testing, to result reporting -

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