Welcome to our dedicated page for Quest Diagnostics news (Ticker: DGX), a resource for investors and traders seeking the latest updates and insights on Quest Diagnostics stock.
Quest Diagnostics Inc. (NYSE: DGX) is a leading provider of diagnostic testing, information, and services in the United States, enabling people to make informed health decisions. The company provides diagnostic insights derived from the world’s largest database of clinical lab results, which aids in identifying and treating diseases, promoting healthy behaviors, and improving healthcare management.
Quest Diagnostics serves one in three adult Americans and half of the physicians and hospitals in the United States. Its workforce of nearly 50,000 employees is dedicated to transforming lives by providing actionable diagnostic insights. The company offers the broadest test menu available, with over 3,000 different tests, and has a strong focus on cancer diagnostics, anatomic pathology, and interpretive consultations through its medical and scientific staff of approximately 900 M.D.s and Ph.D.s.
In recent years, Quest Diagnostics has been at the forefront of innovation in diagnostic testing. The company has significantly invested in AI and digital pathology to enhance the accuracy and efficiency of cancer diagnoses. A notable collaboration with PathAI aims to accelerate the adoption of digital and AI pathology technologies, thereby improving the quality, speed, and efficiency of diagnosing cancer and other diseases. This partnership includes the acquisition of PathAI Diagnostics’ state-of-the-art digitized laboratory in Memphis, Tennessee, which will serve as Quest’s AI and digital R&D and solutions center.
Financially, Quest Diagnostics has shown robust performance, with annual revenues reaching $7.4 billion in 2014. The company continues to strengthen its market presence through strategic acquisitions and partnerships, expanding its services and enhancing its capabilities in specialized pathology services. The integration of digital and AI technologies across its operations has improved quality, efficiency, and customer satisfaction, positioning Quest Diagnostics as a leader in the diagnostic services industry.
Quest Diagnostics' extensive clinical testing network includes roughly 2,300 patient service centers, numerous doctors' offices, and hospitals nationwide. The company also provides clinical trials testing, risk assessment services, and information technology solutions through its diagnostic solutions segment.
By leveraging its comprehensive diagnostic insights, Quest Diagnostics aims to empower individuals and healthcare providers to make informed decisions that lead to better health outcomes, ultimately contributing to a healthier world.
Quest Diagnostics has launched multiple initiatives to support in-school COVID-19 testing, emphasizing the importance of safe classroom environments for children impacted by the pandemic. Key programs include the "Back to the Classroom" initiative, which focuses on K-12 testing solutions, partnerships with biotechnology firm Ginkgo Bioworks, and collaborations with various state health departments. Additionally, testing access is being expanded through partnerships with Battelle Memorial Institute to serve underserved populations. These efforts aim to facilitate safe educational settings for students, faculty, and staff.
Quest Diagnostics participated in the 8th annual I-HEAL Community Wellness Day in the Mississippi Delta, providing no-cost health screenings to approximately 80 attendees. The event, hosted by the Glenn Family Foundation, saw over 700 participants receive healthy food, flu shots, and health resources. Stacey Ingram from Quest emphasized the importance of the event in improving community health outcomes. The foundation has previously assisted over 7,000 food-insecure children and implemented health literacy programs, showcasing a robust commitment to community health improvement.
Quest Diagnostics (NYSE: DGX) will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 10:30 a.m. Eastern Time. CEO Jim Davis and CFO Sam Samad will discuss the company's performance, strategy, and market trends. The live presentation will be webcast and available on their investor relations page. An archived version will be accessible within 24 hours and remain available until February 10, 2023.
Quest Diagnostics aims to empower individuals to enhance health outcomes through diagnostic insights.
Quest Diagnostics' latest Health Trends report reveals significant issues regarding drug misuse in the U.S. based on over 20 million drug tests conducted over the past decade. In 2021, 49% of individuals tested showed evidence of prescription drug misuse. Alarmingly, polysubstance use increased to 52%, up from 33% in 2012, while amphetamine use surged 5-fold, affecting 9.2% of those tested. The report emphasizes the ongoing risk of drug misuse across various age groups, particularly among younger adults, highlighting a pressing need for early intervention and preventive care.
Quest Diagnostics (NYSE: DGX) announced a strategic laboratory collaboration with Northern Light Health to acquire its outreach laboratory business and manage nine hospital laboratories in Maine. The agreement, selected after a competitive bid, is an all-cash transaction aimed at enhancing access to diagnostic services. The collaboration will leverage Quest's advanced testing capabilities, improving patient affordability and care in the region. Completion of the deal is expected in Q1 2023, although financial details remain undisclosed.
Getlabs and Sonora Quest Laboratories have announced a collaboration enhancing patient access to at-home lab testing. Through the integration of Getlabs' API into Sonora Quest's website, patients in Phoenix and Tucson can easily schedule in-home phlebotomy appointments. This initiative aims to improve patient convenience by eliminating logistical barriers to receiving vital health tests. The API is HIPAA compliant, ensuring secure handling of personal information. The collaboration reflects both companies' commitment to utilizing innovative technology for improved patient care.
Quest Diagnostics (DGX) has secured a group purchasing agreement with Premier Inc. (PINC) for its laboratory stewardship solutions. This collaboration enables Premier members to access Quest's Lab Stewardship Enterprise at special pricing, facilitating improved healthcare delivery. The platform offers data analytics for healthcare organizations, tracking trends and identifying cost-saving opportunities. Quest aims to enhance care quality and operational efficiency as health systems face post-pandemic challenges. This agreement marks a significant enhancement in accessibility for Quest's innovative healthcare solutions.
Quest Diagnostics (NYSE: DGX) has completed its acquisition of LabCare Plus, the outreach laboratory services business of Summa Health. This acquisition enables Quest to enhance access to its extensive test menu and health plan relationships in Northeastern Ohio. Patients and physicians will benefit from improved diagnostic services and lower out-of-pocket costs. Testing will be provided by Quest’s laboratories in Twinsburg, Ohio, and Pittsburgh, Pennsylvania, serving areas previously serviced by LabCare Plus.
ConferMED has announced the provision of specialty eConsults to Federally Qualified Health Centers (FQHCs) in Texas, Maryland, Massachusetts, Florida, and Illinois, benefiting nearly 400,000 uninsured and underinsured patients. This initiative is supported by a $2.3M grant from the Quest Diagnostics Foundation as part of its Quest for Health Equity initiative. The program will enhance access to specialty care, potentially improving health outcomes for underserved communities. Fifteen health centers have already signed up, allowing primary care providers to consult with specialists across more than 40 specialties.
DermTech, Inc. (NASDAQ: DMTK) has formed an agreement with Sonora Quest Laboratories to enhance access to its non-invasive DermTech Melanoma Test in Arizona. The test, using Smart Stickers™, boasts over 99% reliability in ruling out melanoma, allowing patients to detect the disease early, significantly improving survival rates. This partnership will reduce unnecessary biopsies and healthcare costs while increasing the test's availability through Sonora Quest’s extensive provider network.
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