Quest Diagnostics is the nation's leading provider of diagnostic testing, information and services. The company's clients include patients and consumers, physicians, hospitals, health insurers, employers and government agencies.
Quest Diagnostics performs more than a million tests every business day, serving approximately half of the physicians and hospitals in the United States. Diagnostic services are open 24 hours a day, 7 days a week, 365 days a year.
The company offers over 3,000 tests with over 400,000 tests performed each day.
Quest has over 2,000 patient service centers, approximately 150 rapid response laboratories, 30-plus regional laboratories and esoteric testing laboratories on both coasts. The company has lab operations in the UK, Mexico and Puerto Rico.
Featured tests include: cholesterol LDL tests, detection of cervical cancer, chlamydia, hepatitis C and hyperparathyroidism.
In 2011, Quest had revenues of $7.5 billion and net income of $470.5 million.
In 1967 in New York City, Dr. Paul Brown launched the clinical laboratory industry with his vision to offer high quality, highly automated and cost-effective clinical testing. The business was named MetPath, for Metropolitan Pathology, and it quickly became the leading independent testing laboratory in the greater New York metropolitan area.
Corning Incorporated purchased MetPath in 1982 and continued to build the company. The business continued to expand and additional companies were acquired, including Damon in 1993, Maryland Medical Laboratory in 1994 and Bioran in 1994. Also in 1994, Corning acquired Nichols Institute, world-renowned for esoteric testing. Nichols Institute, considered the gold standard among many healthcare professionals, has been an important liaison between the academic, scientific and medical communities, contributing tremendous knowledge to the field of diagnostic testing, services and information.
On December 31, 1996, Corning Incorporated spun off the laboratory testing business to its shareholders, establishing Quest Diagnostics as an independent company trading on the New York Stock Exchange under the Symbol "DGX."
With the acquisition of SmithKline Beecham Clinical Laboratories (SBCL) on August 16, 1999, Quest Diagnostics became the nation's leading provider of diagnostic testing, information and services.
Health & Dental Insurance - The Company offers the option of a Consumer
Directed Health Plan through Lumenos, or Aetna Choice POS II
Medical Plan through Aetna, or in many locations, other local
plans. The Company pays more than 80% of the premium for these
Pre-Tax Savings Plan (The 401(k) Plan) - You are eligible to join after completing 1 month of service. Employees may invest up to 35% of pre-tax income in any one or in a combination of over 15 available investment options with Fidelity Investments. The available options include investment funds, lifecycle funds, and a Company stock fund. After 12 months of service, the Company matches your contributions, dollar for dollar, up to 6%. The Company match is non-forfeitable, i.e., fully vested, at all times and is allocated to your account based on your investment elections. Company matching contributions are made on a bi-weekly basis but only in the pay periods in which you make a pre-tax contribution.
Employee Stock Purchase Plan (ESPP) - Employees may purchase Quest Diagnostics stock each calendar quarter at a cost of 85% of the market price at the beginning or end of that quarter, whichever is lower. From each paycheck, a minimum of $10.00 and a maximum of 10% of your base pay may be invested. The ESPP is available through a quarterly enrollment to employees regularly scheduled to work at least 20 hours per week. Dividends paid on purchased stock are automatically reinvested.
Time Off with Pay (TOP) - Employees are provided Time Off with Pay (TOP)
which may be used for vacation, personal needs, and incidental
sick time. Hours are accrued each pay period based on the hours
worked. In the first year of employment, accruals begin after
three months of employment, and a full time employee scheduled
to work 40 hours per week accrues 5.54 hours per pay period,
equating to about 13.5 days for that first year. At the first
anniversary of employment, the accrual increases to 6.15 hours
per pay period or approximately 20 days per year. The rate of
accrual increases with service. Following the second anniversary,
employees begin to accrue approximately 22 days per year, and
27 days on the third anniversary.
Scheduled Holidays - In addition to the above time off, employees regularly scheduled to work 20 or more hours per week will be paid for six major observed holidays.
Short-Term Disability (STD) - Quest Diagnostics provides STD coverage after 3 months of employment for all employees regularly scheduled to work at least 30 hours per week. Benefits become payable on the 14th day of absence due to non-work related injury or illness (except for employees working in NY, NJ, RI and HI where benefits begin on the 8th day). Core STD benefits pay 60% of weekly pay for up to 26 weeks for eligible non-exempt employees at no cost to the employee. Employees have the option to buy-up to an 80% benefit. For eligible exempt employees, the plan pays 100% salary continuation for up to 26 weeks. In California and Rhode Island these benefits supplement the state disability benefits, up to the 60% or 100% benefit targets. There may be other variations in New Jersey and in New York based on state law.
Long-Term Disability (LTD) - Each eligible employee has LTD coverage in case of disabilities continuing after 26 weeks. Benefits will be paid monthly as long as the employee is disabled, up to age 65 (or later if the disability begins after age 60). Core LTD benefits pays 50% of the employee's monthly pre-disability earnings, up to a $15,000 per month benefit at no cost to the employee. Employees have the option to buy an additional 10% or 20% benefit. LTD coverage is effective after three months of employment for all employees regularly scheduled to work at least 30 hours per week.
Educational Assistance - After six months employment, the Company will reimburse employees regularly scheduled to work at least 30 hours per week for tuition expenses for courses that are job/career related, accredited, and pre-approved. Full reimbursement of eligible expenses is provided for two courses per semester. Eligible expenses include tuition.
Flexible Spending Account (FSA) - An FSA allows employees to set aside (through pre-tax payroll deductions) up to $5,000 per account to pay for health care or dependent/child care expenses. Employees who are regularly scheduled to work at least 30 hours per week are eligible to participate after one month of employment.
Life Insurance - The Company covers eligible employees with basic life insurance, basic AD&D, and business travel accident insurance at no cost to the employee. The amount of basic life insurance is 3 times the annual base pay for Exempt employees and 1? times the annual base pay for Non-exempt employees. Employees may purchase supplemental life and AD&D insurance up to 8 times their annual base pay. Coverage is effective after one month of employment for all employees regularly scheduled to work at least 30 hours per week. Employees may also purchase Spouse's and Domestic Partner's Life and Child(ren)'s Life.
Employee Assistance Program - Free counseling services are provided to all employees and their family members through Employee Advisory Resource (EAR). A toll-free number 1-800-328-1952 is available 24 hours a day, 365 days a year, to connect you with a professional counselor.
- Voluntary Benefits available through
MetLife, some of which are employee paid programs. Available
benefits include insurance for Long Term Care, Veterinary Pet
Care, Legal Services, Auto, and Homeowners/Renters coverages,
Financial Management consulting, Banking services and Life Advice.
Updated May 6, 2012