Quest Diagnostics 2008 Annual Report Download - page 31

Download and view the complete annual report

Please find page 31 of the 2008 Quest Diagnostics annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

The federal or state governments may bring claims based on theories as to our current practices that we
believe are lawful. The federal government has substantial leverage in negotiating settlements since the amount of
potential damages far exceeds the rates at which we are reimbursed, and the government has the remedy of
excluding a non-compliant provider from participation in the Medicare and Medicaid programs, which represented
approximately 18% of our net revenues during 2008. We believe that, based on our experience with settlements
and public announcements by various government officials, the federal government continues to strengthen its
enforcement efforts against healthcare fraud. In addition, legislative provisions relating to healthcare fraud and
abuse provide federal enforcement personnel substantially increased funding, powers and remedies to pursue
suspected cases of fraud and abuse.
We have a long-standing and well-established compliance program. The Quality, Safety & Compliance
Committee of our Board of Directors oversees our compliance program and requires periodic management reports
regarding our compliance program. Our program emphasizes the development of training programs intended to
ensure the strict implementation and observance of all applicable laws, regulations and Company policies.
Further, we conduct in-depth reviews of procedures and facilities to assure regulatory compliance throughout our
operations. We conduct annual training of our employees on these compliance policies and procedures.
AVAILABLE INFORMATION
We file annual, quarterly and current reports, proxy statements and other information with the Securities and
Exchange Commission (the “SEC”). You may read and copy any document that we file with the SEC at the
SEC’s public reference room at 100 F Street, NE, Washington, DC 20549. Please call the SEC at 1-800-SEC-
0330 for information regarding the public reference room. The SEC maintains an internet site that contains
annual, quarterly and current reports, proxy and information statements and other information that issuers
(including Quest Diagnostics) file electronically with the SEC. Our electronic SEC filings are available to the
public at the SEC’s internet site, www.sec.gov.
Our internet site is www.questdiagnostics.com. You can access Quest Diagnostics’ Investor Relations
webpage at www.questdiagnostics.com/investor. We make available free of charge, on or through our Investor
Relations webpage, our proxy statements, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and any amendments to those reports filed or furnished pursuant to the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), as soon as reasonably practical after such material is
filed with, or furnished to, the SEC. We also make available, through our Investor Relations webpage, statements
of beneficial ownership of our equity securities filed by our directors, officers, 10% or greater shareholders and
others under Section 16 of the Exchange Act.
We have a corporate governance webpage. You can access information regarding our corporate governance
at www.questdiagnostics.com/governance. We post the following on our corporate governance webpage:
Code of Business Ethics
Integrity Commitment
Values
Corporate Governance Guidelines
Charters for our Audit and Finance Committee, Compensation Committee, Executive Committee,
Governance Committee and Quality, Safety and Compliance Committee
Certificate of Incorporation
Bylaws
You can request a copy of these documents, including exhibits, at no cost, by contacting Investor Relations,
3 Giralda Farms, Madison, New Jersey 07940 (973-520-2700). The information on our website is not
incorporated by reference into this Report.
EXECUTIVE OFFICERS OF THE COMPANY
The following persons serve as executive officers of the Company.
Surya N. Mohapatra, Ph.D. (59) is Chairman of the Board, President and Chief Executive Officer. Prior to
joining the Company in February 1999 as Senior Vice President and Chief Operating Officer, he was Senior Vice
President of Picker International, a worldwide leader in advanced medical imaging technologies. Dr. Mohapatra
was appointed President and Chief Operating Officer in June 1999, Chief Executive Officer in May 2004 and
19