A lipid panel is a blood test that analyzes the levels of cholesterol, triglycerides, high-density lipoprotein and low-density lipoprotein lipids in the blood and tissues, according to WebMD. Lipid panels may be ordered as part of a routine medical exam or used to make a specific diagnosis.
High levels of low-density lipoprotein in the blood can increase the risk for heart disease, according to Mayo Clinic. High-density lipoprotein is often referred to as "good cholesterol," so higher levels of this lipid indicate a lower risk for heart disease. Triglycerides are fatty substances that often increase in response to high levels of alcohol and sugars.