QUEST DIAGNOSTICS

Health

Starting with the introduction of Quest diagnostics we would say that it is a famous clinical laboratory in America. It works with 500 companies in different countries. Those countries include the United States, Mexico, Puerto Rico, and Brazil. Quest is also maintaining its services for different clinics and hospitals across the whole globe. Its service type is Public. It is traded as NYSE: DGX. This industry is related to health care. Its foundation was kept in the United States for the first time in 1976. Its founder name is Paul Brown. The headquarters of Quest diagnostics are present in New Jersey. In 2020, this company had 48000 employees and it generated $7.7 billion in revenue.

History:

  • It was originally founded in 1967 by paul brown as a metropolitan pathological laboratory. Its company name was changed in 1969. The new name was Metpath.
  • Then in 1982, it was named Corning glassworks and after this, it was named Corning clinical laboratories.
  • In 1996, Quest Diagnostics got separated from Corning and became independent. In the next coming year, Quest Diagnostics became a clinical laboratory division of Branford- CT-based diagnostics medical laboratory.
  • Surya Mahapatra remains the president of the company from 2004-2012. Then in 2007 quest became a diagnostic testing equipment company. After Surya Mahapatra, Stephen Rusckowski was appointed as president and in his time, quest Diagnostic was teamed up with the largest health care center in England.
  • In 2018, the company announced that it will work as a network laboratory provider for United health care. Then in November 2018, it started a consumer-initiated service which allows the patient to use a health and wellness testing lab from home.
  • Now in 2020, they started to see COVID-19 testing services. Till July 2020, it has done 2.8 serology tests and 9.2 million COVID-19 molecular tests.

Acquisitions:

  • 2001

It completed an acquisition of Ohio-based Medplus, which is a health care technology company.

  • 2002

In 2002, it became Virginia-based American laboratories and an affiliated company of AML, lab-portal.

  • 2003

It became a California-based Unilab in 2003. It was a corporation with an investment of 800 dollars.

  • 2005

Quest Diagnostics completes the acquisition of Kansas-based Labone and Lenexa. It worked for the Employer solutions drug testing division. It also made Examone paramedical test division for 934 million dollars.

  • 2006

Then in 2006, it got the acquisition of infectious and immunological disease laboratory and Virginia-based focus diagnostics.

  • 2007

In this year, Quest diagnostics had many achievements. They made Sweden-based homocue which includes a point of care diagnostic testing company.

Then it got Ameripath laboratories from Carson, Anderson, and welsh. In this way, it became the leading place for cancer diagnostic learning services.

  • 2011

In 2011, this company became Athena diagnostics from Thermo fisher scientific. After this, they also worked as the famous place for sequencing the human genome.

  • 2014

Quest Diagnostics got Solstas lab partners group and summit health in 2014.

  • 2017

This company got the acquisition of Cleveland heart lab in 2017.

  • 2018

In the next year such as 2018, it got huge success for the U.S laboratory services business of Oxford immunotec.

  • 2019

It got clinical laboratory services of Boyce and Bynum Pathology in 2019.

  • 2020

In 2020, it served as the nonprofit health system in the great Houston region.

Popular services:

Its popular services include medical testing, molecular diagnostics, diagnostic testing services for cancer, cardiovascular diseases, infectious diseases, employment, and court-ordered drug testing, neurological disorders, COVID-19 testing, and clinical chemistry. Other than this, Quest diagnostics is working for making the health of the whole world better. They have made many products for life insurance companies, pharmaceutical medical device companies, patients, employers, and health care providers. So that these products and the company’s diagnostics insights may help them to get lots of benefits.

1.Diagnostics testing services:

This company is the best leading provider for diagnostic testing and services which patients and doctors seek for their wellness and better health. Quest Diagnostics testing services are;

  • routine blood tests
  • total cholesterol
  • Pap testing
  • white blood cell count
  • complex gene-based and molecular testing

Quest diagnostics have specialised staff in the following domains;

  • cancer
  • cardiovascular diseases
  • infectious diseases
  • neurology

2.Clinical trials testing:

This clinical testing laboratory was established in 2015. It helps by improving human health through new ways in diagnostics customers, biopharmaceutical, and medical devices. It is converting science with its data into actionable medical insights. The Q2 solution of this lab has the following things;

  • quality driven
  • responsive partner with strong global experience
  • deep scientific expertise
  • medical expertise

3.Healthcare IT:

Almost 2000 physicians are using the solution Quanum from quest Diagnostics. It is used to check

  • lab tests
  • receive timely test results,
  • share clinical information quickly and securely
  • prescribe drugs

4.Wellness and Risk management:

Quest Diagnostics has become a leading provider for giving risk management solutions to life insurance companies. They are working for the wellness and betterment of employees and staff workers. Plus they are managing the illegal use of drugs in the workplace. Their efforts have made it very rare at the workplace. This company had started many programs which are promoting wellness and the prevention of disease in public.

Controversies:

Quest Diagnostics made a record when this company gave 302 million dollars to the government for settling a Medicare fraud case. It was the biggest whistleblower for a company that paid for the manufacturing of faulty products and services. Then later on it was also said that Quest diagnostics has given 241 million to handle the case in which they were blamed for giving forcefully incentives to healthcare providers because of their use of Quest lab.

Quest is a major subcontractor for Irish cervical check screening in women. There were claims that 221 women with cervical cancer were not treated well by them. Their history and medical complications were not seen properly so there was a serious scandal in the media regarding this issue.

But apart from these controversies overall we can conclude this segment by saying that quest Diagnostics is doing their best to change and improve the health of people and the whole health system too.

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