Elevance Health vs Labcorp
Side-by-side comparison of AI visibility scores, market position, and capabilities
Indianapolis BCBS managed care (NYSE: ELV) ~$175B FY2024 revenue; Anthem renamed 2022, BCBS exclusive in 14 states, Carelon health services, Medicaid/MA medical cost pressure competing with UnitedHealth and Cigna.
About
Elevance Health, Inc. (formerly Anthem, Inc.) is an Indianapolis, Indiana-based managed care and health services company — publicly traded on the New York Stock Exchange (NYSE: ELV) as an S&P 500 Health Care component — providing health insurance plans under the Blue Cross Blue Shield brand in 14 states (Indiana, Georgia, California, Colorado, Connecticut, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia, Wisconsin), Medicare Advantage, Medicaid managed care, and commercial employer-sponsored health plans through Carelon (pharmacy and behavioral health services — formerly IngenioRx) to approximately 47 million medical members through approximately 100,000 employees. In fiscal year 2024, Elevance Health reported revenues of approximately $175 billion (predominantly premium revenues from employer-sponsored and government-program health plan members), with operating income under pressure from medical cost increases in the Medicaid segment (post-COVID health utilization normalization causing medical costs to exceed Medicaid actuarial pricing expectations set during the pandemic period of reduced care utilization). CEO Gail Boudreaux has executed the company's transformation from Anthem to Elevance Health (rebranded June 2022) — reflecting the broadened value proposition beyond health insurance into health services: Carelon Services (behavioral health, pharmacy benefit management, utilization management, home health services for both Elevance and external health plan clients) represents the strategy of building a health services ecosystem that retains value within the Elevance enterprise rather than paying external PBMs, behavioral health managers, and care management vendors.
Burlington NC clinical laboratory services (NYSE: LH) ~$13.1B FY2024 revenue; Fortrea CRO spun off 2023, 2000+ PSC network, specialty oncology molecular testing competing with Quest Diagnostics.
About
Laboratory Corporation of America Holdings (Labcorp) is a Burlington, North Carolina-based clinical laboratory and life sciences company — publicly traded on the New York Stock Exchange (NYSE: LH) as an S&P 500 Health Care component — providing diagnostic laboratory testing services for physicians, hospitals, health systems, and patients across the United States and internationally, and providing drug development laboratory services (biopharmaceutical clinical trial laboratory support) through approximately 60,000 employees. In fiscal year 2024, Labcorp reported revenues of approximately $13.1 billion from the Diagnostics segment — following the June 2023 separation of its Drug Development segment as Fortrea Holdings (NASDAQ: FTRE), an independent public company providing CRO (contract research organization) services to pharmaceutical and biotech clients. CEO Adam Schechter has focused the post-Fortrea Labcorp on the pure-play diagnostics business: clinical testing across 6,000+ test menu items (routine blood work, specialty genetic testing, toxicology, and anatomic pathology) processed at Labcorp's 2,000+ patient service centers and sent to regional and specialty reference laboratories for results reporting to ordering physicians. The Labcorp consumer-direct testing initiative (at-home specimen collection kits for STI testing, COVID testing, and other direct-to-consumer tests ordered at labcorp.com without physician referral) expands beyond the traditional physician-ordered testing model to capture the growing consumer health testing market. Labcorp's specialty testing portfolio (oncology genomic profiling, rare disease genetic panels, prenatal cell-free DNA testing, advanced cardiac biomarker panels) generates higher revenue per requisition than routine chemistry and hematology panels — driving mix shift toward specialty and molecular testing revenue.
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