Quest Diagnostics : The World 's Leading Provider Of Diagnostic Information Services

788 WordsDec 11, 20164 Pages
PART 1: Firm Information Quest Diagnostics Incorporated is a publicly traded Fortune 500 company providing clinical laboratory services. The company is the world’s leading provider of diagnostic information services serving half of the physicians and hospital in the U.S. Quest Diagnostics provides patient services through diagnostic information services and clinical lab testing. Quest Diagnostics competes with three types of laboratory providers: hospital-affiliated laboratories, other commercial clinical laboratories, and physician-office laboratories. Thomas Pella, the Director of Employee Health and Wellness at Quest Diagnostics, provided the information analyzed in this report. Quest Diagnostics has an in-house self-funded benefits plan. They outsource their life and disability insurance through Cigna and receive consulting from Aetna. Additionally, Quest currently has a broker partnership with Mercer. Plan Coverage and Demographics Quest Diagnostics designs its benefits package to offer a rich plan to their employees with a competitive contribution amount. Quest manages a workforce of 44,000 employees, with a gender mix of 70% female and 30% male, with ages ranging from 21 to 70. Currently, 29,000 of those employees are full-time equivalent and enrolled in the health plan. Of the 29,000 enrolled employees, there are 30,000 dependents covered under them. In addition, the welfare plan covers 38,000 employees. Quest Diagnostics is a very diverse workforce in

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