Media Coverage

The debate over marijuana in Michigan is heating up as we get closer to the November election. Proposal 1 is one of the most talked about issues on the November ballot; it would legalize the recreational use of cannabis in the state of Michigan. If passed, the measure will allow anyone 21 and older to carry 2.5 ounces of marijuana without getting in trouble. As more and more states legalize recreational marijuana, studies show more and more people are smoking – or at least getting caught. Quest Diagnostics reports 2017 was a banner year, an all-time high for people failing drug tests.

OCT 25MORE ON BILLING AND COLLECTIONSTechnology key to curbing rate of claims denials for hospitals, health systems Some providers see nine percent of their claims denied, and with each costing as much as $118, better processes can help realize cost savings.[CR-LF]Jeff Lagasse, Associate Editor[CR-LF][CR-LF]Hospitals and health systems have a denied claims problem. A 2017 analysis by Change Healthcare found that out of roughly $3 trillion in medical claims submitted by U.S. hospitals in the prior year, almost 9 percent of those charges were initially denied. Such a high rate of denials creates challenges for maximizing revenue, so it's important to have the right tools and processes in place. Enter technology, which can play a key role in curbing the denials issue. Tom Romeo, general manager of healthcare IT at Quest Diagnostics, advocates for technology that can do eligibility checking. It's also important for any approach, whether technological or process-focused, to curb duplicate billing, as well as improper CPT codes.

Quest Diagnostics, the world's leading provider of diagnostic information services, and Marin General Hospital, a not-for-profit, full-service hospital, have entered into a definitive agreement for Quest to acquire the outreach laboratory services operations of Marin General Hospital. The transaction will enhance the delivery of innovative, high-value diagnostic information services to communities in Marin County, Calif. Physicians and patients will benefit from an enhanced test menu, which includes advanced diagnostic services, and an expanded network of conveniently located patient service centers. "The hospital has worked with Quest for years, and they are known for quality, innovation and scale. We feel they will be better able to maintain the standards our community wants and deserves at a reasonable cost. We will collaborate to ensure a smooth transition," said Lee Domanico, Chief Executive Officer, Marin General Hospital & Marin Healthcare District at Marin General Hospital.

Quest Diagnostics, the world's leading provider of diagnostic information services, announced today jointly with other leading diagnostic services providers the formation and launch of the Global Diagnostics Network (GDN). The GDN is a strategic working group of diagnostic laboratories, each committed to unleashing and sharing local innovation to increase global access to diagnostic science, information, and services - ultimately generating enhanced diagnostic insights to improve the delivery of global healthcare. Collectively, this worldwide community of healthcare leaders has a presence in countries with more than half of the world's population across all continents.

Quest Diagnostics is partnering with Mood Media to introduce "Quest TV," a curated, video programming network that is pre-recorded, with short-form and family-friendly content. The rollout includes more than 2,200 Quest Diagnostics waiting room lobbies in patient service centers across the U.S. "Live TV means potential for inappropriate programming, unsettling news segments or advertisements, and more," says Chris Grant, executive director of patient services, Quest Diagnostics. "Ultimately, this means we can feel confident in the type of experience and ambiance we’re setting for our waiting patients."

True innovators go to great lengths to change the world around them, says Jake Orville, general manager at Cleveland HeartLab, a CardioMetabolic and Endo franchise at Quest Diagnostics. “You can be known as innovative, but to be disruptive in your innovation, you have to do more than move the needle,” Orville says. “To get recognized as a leader and to gain momentum in your innovation, you have to have exponential growth and make a big impact.” Orville and his team took aim at heart disease, the nation’s leading killer of both men and women. In his view, nothing else comes close to it both in terms of clinical need and the opportunity to make a profound impact — the inflammation testing that CHL has developed could eliminate billions in health care costs.

Quest Diagnostics Inc. on Tuesday reported third-quarter earnings of $213 million. On a per-share basis, the Secaucus, New Jersey-based company said it had net income of $1.53. Earnings, adjusted for one-time gains and costs, were $1.68 per share. The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of $1.68 per share. The medical laboratory operator posted revenue of $1.89 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $1.95 billion.

Quest Diagnostics, the world's leading provider of diagnostic information services, will host an Investor Day for institutional investors and financial analysts in New York City on Thursday, November 29, 2018 at The InterContinental New York Times Square Hotel at 300 W. 44th St.

Quest Diagnostics today reported 2 percent year-over-year revenue growth for the third quarter missing analyst expectations. Revenue was $1.89 billion for the three- month period ended Sept. 30, 2018, up from $1.86 billion in the third quarter last year. The consensus Wall Street estimate was $1.95 billion. Ross Muken, analyst with investment bank Evercore ISI called the quarter "mediocre to modestly disappointing," in a note to investors. He cited the missed revenues, and the continuation of headwinds that the company faced last quarter as some of the reasons for his modest disappointment.