Quest Diagnostics Awarded Laboratory Stewardship Platform and Services Agreement with Premier, Inc.

Rhea-AI Summary

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.

Positive

• Awarded group purchasing agreement with Premier for lab stewardship solutions.
• Enhanced accessibility for Quest's Lab Stewardship Enterprise to over 4,400 U.S. hospitals and 250,000 providers.
• Real-time analytics platform aids healthcare organizations in identifying cost-saving opportunities.

Negative

• None.

SECAUCUS, N.J., Dec. 1, 2022  /PRNewswire/ -- Quest Diagnostics (NYSE:DGX), the nation's leading provider of diagnostic information services, has been awarded a group purchasing agreement for its laboratory stewardship solution with Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company uniting an alliance of hospitals, health systems and providers.

The new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier to access Quest's laboratory stewardship solutions, including Quest^® Lab Stewardship™ Enterprise powered by hc1^®. The collaboration includes a streamlined, easy-to-use process designed to expedite access and integration of the solution, alleviating the traditional request for proposal (RFP) and negotiation process.

All Premier members, whether they have existing contracts for lab services with Quest Diagnostics or not, can benefit from the new Quest-Premier offering. Quest Lab Stewardship Enterprise is the only laboratory stewardship solution available for purchase through Premier. For more information on Quest's lab stewardship solutions, please visit www.QuestLSforPremier.com.

"We know that many health systems are experiencing tremendous challenges and resource constraints as we emerge from the COVID-19 pandemic," said David Freeman, General Manager, Healthcare Analytics Solutions, Quest Diagnostics. "At Quest Diagnostics, we take a collaborative approach to provide scalable solutions that create measurable improvements in care, quality and costs. By working with Premier, we're excited to make our innovative lab stewardship platform even more accessible to clients looking to optimize their lab testing and deliver cost-effective healthcare."

Quest Lab Stewardship Enterprise is a data and analytics platform combined with advisory services designed to provide healthcare organizations access to insights from aggregated deidentified testing data. This platform can track trends in order volume, identify areas for clinical and operational improvement, give insights into care variation, identify gaps in care, provide network insight, measure the results of interventions and discover cost-savings opportunities. In addition, the real-time analytics platform is a secure cloud-based application accessible to an entire organization. With these powerful, actionable insights, the laboratory can move from a transactional cost center to a strategic asset in the transition to high value care.

"hc1 is passionate about ensuring the right patient gets the right test at the right time resulting in a faster diagnosis and better outcomes." said Brad Bostic, chairman and CEO of hc1. "By working with Premier, I am thrilled that Quest Lab Stewardship powered by hc1 can now be adopted by thousands of additional health systems, resulting in more efficient care and tremendous cost savings for hospitals."

Premier is a leading healthcare improvement company, uniting an alliance of approximately 4,400 U.S. hospitals and 250,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, consulting and other services, Premier enables better care and outcomes at a lower cost.

About Quest Diagnostics

Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our nearly 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com.

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SOURCE Quest Diagnostics

FAQ

What is the recent agreement between Quest Diagnostics and Premier Inc. (DGX, PINC)?

Quest Diagnostics has been awarded a lab stewardship agreement with Premier Inc. to offer special pricing on its solutions.

How does Quest Diagnostics' Lab Stewardship Enterprise benefit healthcare providers?

The Lab Stewardship Enterprise provides data analytics to improve care quality and reduce costs for healthcare organizations.

When was the agreement between Quest Diagnostics and Premier Inc. announced?

The agreement was announced on December 1, 2022.

What is Quest Diagnostics' strategy for improving healthcare outcomes?

Quest Diagnostics aims to optimize lab testing and reduce costs, particularly in the aftermath of the COVID-19 pandemic.