The retail business has many dynamics. It’s a business that I know well. Relating these principles to LabCorp’s operation, it is hard to believe that there are so many patients that will never set foot in a LabCorp center again. Yet the company and its executives do not seem to be doing anything about it. It’s a real shame how a company can believe that they are so omnipotent that they can do whatever they want. Our country’s laws and regulations are established for these particular instances. They will eventually catch up to LabCorp. The government agencies will move in and that’s when you will see them change.

I also believe that the tough economy will severely affect LabCorp and their view of the customer. In my opinion, they see the customer as the HMO, insurance company or 3rd party payer. The patient is seen as a secondary factor when in fact it is all about the patient. Poor results or worst yet, no results, will not only anger the patients but also the payer as the patient will start complaining. Why do these managers and executives not see this? Oh well, they will when the 3rd party payers start cancelling contracts because of malpractice lawsuits. And the doctors that send them the specimens for results? They will eventually get tired of poor results that affect the lives of their patients. I believe that doctors generally care more about their patients than the lower prices offered by LabCorp. That will also work against LabCorp. When will this company wake up to reality?