SOURCE: McKesson

March 06, 2006 09:56 ET

McKesson Launches Horizon Lab Financials Solution at CLMA ThinkLab '06

Integration With Lab LIS and Outreach Solutions Streamlines Workflow and Optimizes Profitability

ATLANTA, GA -- (MARKET WIRE) -- March 6, 2006 --McKesson today announced the introduction of the Horizon Lab™ Financials solution, a significant addition to the company's industry-leading laboratory information solution suite for hospital, reference and hybrid laboratories. The robust, next-generation laboratory financial management system empowers clinical laboratories to manage and optimize the financial health of their outreach or reference business by streamlining workflow and optimizing pricing, billing and collections. Integrated with lab solutions Horizon Lab™ and HorizonWP® Outreach for Lab, as well as with McKesson's Transactions Solutions Hub™ clearinghouse, the Horizon Lab™ Financials application also features a powerful profitability tool to help management predict, monitor and manage profitability -- down to sales territory, client or test level.

The Horizon Lab Financials solution will premiere at CLMA ThinkLab '06, March 18-21 in Charlotte, N.C., in McKesson booth # 501. Visitors can also see demonstrations of Horizon Lab™, which delivers more than 458 million laboratory results annually, as well demonstrations of the blood bank, outreach and positive patient identification solutions.

"Hospitals increasingly view laboratory outreach programs as a source of margin, yet the majority of them are unable to determine whether their programs are actually profitable," said Scott Liff, vice president, laboratory services and imaging development, John Muir/Mt. Diablo Health System. "Most hospital billing systems are not designed for the multiple fee schedules and higher-volume transactions associated with outreach testing. McKesson has taken a major step forward by offering laboratories insight beyond gross charges to reveal net revenues tied to each account. The system offers flexibility to build in variables and addresses the real-time editing required to increase billing reimbursement and decrease account receivable days outstanding."

McKesson has provided expert knowledge and technology to clinical laboratories for more than 30 years. Its industry-leading Horizon Lab solution automates the entire laboratory process to increase productivity and allows technologists more time to focus on important clinical issues. More than 76 million billable laboratory tests are requisitioned each year through McKesson's laboratory information system.

"Approximately 30 percent of clinical labs either lack insight into their outreach profitability or know that their outreach programs are unprofitable," added Mark Spencer, vice president, Marketing, McKesson Provider Technologies. "As healthcare organizations face ever-increasing market pressure to create additional revenue and profitability, clinical labs need customized information solutions to better manage their outreach programs, as well as help them reduce the cost of technology maintenance and ownership. Horizon Lab Financials meets these challenges and helps clinical labs compete and succeed in the outreach and reference market."

Horizon Lab Financials also will be demonstrated at other upcoming industry events, including G-2's "Succeeding in the Outreach Market" conference being held in Atlanta in April.

About McKesson

McKesson Corporation, currently ranked 15th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes, and improving the quality and safety of patient care. Over the course of its 173-year history, McKesson has grown by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare, and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients. For more information: http://mpt.mckesson.com.

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