LabCorp Sucks
Laboratory Corporation of America – Tell Your Story and File a Complaint
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26 Jul 09 LabCorp Claims to be Making Lots of Money for Stock Holders

LabCorp Stock Making MoneyLabCorp (Laboratory Corporation of America) said it earned $136.4 million, or $1.24 per share, during the second quarter of 2009, up from $104.2 million, or 92 cents per share, during the same period in 2008.

Excluding restructuring charges, earnings per share were $1.30, compared to $1.24 last year. That’s an almost 5% increase in earnings.

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Laboratory Corporation of America, whose NYSE symbol is LH, said its testing volumes rose 2.4 percent from the second quarter of last year, and revenues were $1.19 billion, an increase of 3.6 percent from the same period a year ago.

With about $1.2 billing in revenue for the quarter, LabCorp is making lots of money for their shareholders. But is it at the expense of patients? Is it by sacrificing quality of care? According to patient complaints on this site, it’s a very real possibility. Has Laboratory Corporation of America forgotten that it’s the patients that matter, and not just the insurance companies and third party payers?

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When a company grows quickly, it tends to lose its competitive advantage by losing some control over its operation. Incompetent managers take control and run matters their own way, without regards to core company values. In most cases the senior managers see this happening and take immediate action to eliminate the bad apples. The decisions are made by senior managers who have the foresight to see their company succeed in the long-term, not just the short-term. In my personal opinion, LabCorp senior managers have not taken the necessary actions needed to get rid of those lower level managers who will eventually lead to the demise of such a fast growing company. It’s a common story in the health care industry. Remember Integrated Health Services, Coastal Physician Group and Coach? They all had big short-term growth but in the end did not succeed.

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Reader's Comments

  1. |

    Yes my daughter has had blood work done several times because of her thyroid not working and some other issues going on and it is sad that you pay for these services and you still get false information from the employees and they still do not do or stick to there word by when you had spoke with them. I had made the payment twice on the same account and when I called she (April) said the policey was that can send the check back to you since it has already been paid and the check would not be cashed but they still went ahead and cashed the check. I called again and they said that it had already gone to the department that cashes the check and they would reissue a check, and how can anyone trust them again when they have already lied to you. It is just sad that you guys can deny people of services and also take advantage of others that are really sick and need the care. This will be addressed to our Dr. the way that we are treated and how many stories I have gotten and when you guys need your payment you surly do not hesitate to call or what ever but when we need our money or some kind of care for our health you sure do take your time. Well I have spoke with April, Pierre and also a supervisor named Gail. So I hope to see my check soon or I will be calling again and if the same run around I will take further action.
    Thand You
    Mrs. Cook

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