Quest Diagnostics 2014 Annual Report Download - page 11
Download and view the complete annual report
Please find page 11 of the 2014 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.
(VRWHULFWHVWVDUHFOLQLFDOODERUDWRU\WHVWVWKDWDUHQRWURXWLQH(VRWHULFWHVWVLQFOXGHSURFHGXUHVLQWKHDUHDVRI
PROHFXODUGLDJQRVWLFVSURWHLQFKHPLVWU\FHOOXODULPPXQRORJ\DQGDGYDQFHGPLFURELRORJ\7KHVHWHVWVPD\UHTXLUH
SURIHVVLRQDO³KDQGVRQ´DWWHQWLRQIURPKLJKO\VNLOOHGWHFKQLFDOSHUVRQQHOJHQHUDOO\UHTXLUHPRUHVRSKLVWLFDWHGWHFKQRORJ\
HTXLSPHQWRUPDWHULDOVDQGPD\EHSHUIRUPHGOHVVIUHTXHQWO\WKDQURXWLQHWHVWV&RQVHTXHQWO\HVRWHULFWHVWVJHQHUDOO\DUH
UHLPEXUVHGDWKLJKHUOHYHOVWKDQURXWLQHWHVWV,WLVQRWSUDFWLFDOIURPDFRVWHIIHFWLYHQHVVRULQIUDVWUXFWXUHSHUVSHFWLYHIRUPRVW
KRVSLWDOV,'1V$&2VFRPPHUFLDOODERUDWRULHVRUSK\VLFLDQRIILFHODERUDWRULHVWRGHYHORSDQGSHUIRUPDEURDGPHQXRI
HVRWHULFWHVWVRUWRSHUIRUPORZYROXPHHVRWHULFWHVWLQJLQKRXVH6XFKWHVWVJHQHUDOO\DUHRXWVRXUFHGWRDQHVRWHULFFOLQLFDO
WHVWLQJODERUDWRU\ZKLFKVSHFLDOL]HVLQSHUIRUPLQJWKHVHFRPSOH[WHVWV&RPPRQO\RUGHUHGHVRWHULFWHVWVLQFOXGHYLUDODQG
EDFWHULDOGHWHFWLRQWHVWVGUXJWKHUDS\PRQLWRULQJWHVWVJHQHEDVHGWHVWVDXWRLPPXQHSDQHOVDQGFRPSOH[FDQFHUHYDOXDWLRQV
(VRWHULFWHVWVLQFUHDVLQJO\DUHRUGHUHGE\SK\VLFLDQVWRDVVLVWWKHPLQWKHGLDJQRVWLFSURFHVVWRHVWDEOLVKDSURJQRVLVDQGWR
FKRRVHRUPRQLWRUDWKHUDSHXWLFUHJLPHQ
$QDWRPLFSDWKRORJ\VHUYLFHVDUHSHUIRUPHGRQWLVVXHVVXFKDVELRSVLHVDQGRWKHUVDPSOHVVXFKDVKXPDQFHOOV
$QDWRPLFSDWKRORJ\LQYROYHVWKHGLDJQRVLVRIFDQFHUDQGRWKHUGLVHDVHVDQGPHGLFDOFRQGLWLRQVWKURXJKH[DPLQDWLRQRIWLVVXH
DQGFHOOVDPSOHVWDNHQIURPSDWLHQWV
Our services.
:HDUHWKHZRUOGVODUJHVWSURYLGHURIGLDJQRVWLFLQIRUPDWLRQVHUYLFHV:HSURYLGHLQIRUPDWLRQDQGLQVLJKWVEDVHGRQ
FOLQLFDOWHVWLQJLQFOXGLQJURXWLQHHVRWHULFJHQHEDVHGDQGDQDWRPLFSDWKRORJ\WHVWLQJDQGUHODWHGVHUYLFHV:HDUHWKH
OHDGLQJSURYLGHURIURXWLQHHVRWHULFDQGJHQHEDVHGDQGDQDWRPLFSDWKRORJ\WHVWLQJLQWKHZRUOGDQGRIIHUFXVWRPHUVWKH
EURDGHVWDFFHVVWRWKHPRVWH[WHQVLYHWHVWPHQX:HSURYLGHWHVWLQJVHUYLFHVWRSK\VLFLDQVKRVSLWDOV$&2V,'1VRWKHU
FRPPHUFLDOODERUDWRULHVSDWLHQWVDQGRWKHUFXVWRPHUV:HDUHDOHDGLQJSURYLGHURILQIHFWLRXVGLVHDVHGLDJQRVWLFLQIRUPDWLRQ
VHUYLFHVDQGVWULYHWREHWKHILUVWWRSURYLGHGLDJQRVWLFVROXWLRQVIRUHPHUJLQJLQIHFWLRXVGLVHDVHVLQFOXGLQJRXU)RFXV
'LDJQRVWLFVRIIHULQJVIRU:HVW1LOH9LUXV6$56DQG,QIOXHQ]D$+1:HKDYHOHDGLQJSRVLWLRQVLQWKHQHXURORJ\
GLDJQRVWLFVPDUNHWLQDGYDQFHGFDUGLRYDVFXODUGLDJQRVWLFLQIRUPDWLRQVHUYLFHVLQFOXGLQJRXU&DUGLR,4RIIHULQJDQGLQ
FDQFHUGLDJQRVWLFVLQFOXGLQJWKH/HXPHWDIDPLO\RIWHVWVIRUOHXNHPLDDQGO\PSKRPD,QFUHDVLQJO\ZHDUHIRFXVHGRQ
SURYLGLQJVROXWLRQVDQGLQVLJKWVWRRXUFXVWRPHUVEDVHGRQWKHWHVWLQJWKDWZHSHUIRUP
:HDOVRDUHDOHDGHULQSURYLGLQJWHVWLQJIRUWKHGHWHFWLRQRIHPSOR\HHXVHRIGUXJVRIDEXVHRIIHULQJDIXOOUDQJHRI
VROXWLRQVLQFOXGLQJXULQHKDLUEORRGDQGRUDOIOXLGWHVWV2XU4XHVW'LDJQRVWLFV'UXJ7HVWLQJ,QGH[70ZKLFKLVDQDQQXDO
UHSRUWRIRXUDJJUHJDWHGUXJWHVWLQJUHVXOWVLVFLWHGE\HPSOR\HUVWKHIHGHUDOJRYHUQPHQWDQGWKHPHGLDWRKHOSLGHQWLI\DQG
TXDQWLI\GUXJDEXVHDPRQJWKHQDWLRQVZRUNIRUFH
:HDOVRRIIHUDUDQJHRIKHDOWKDQGZHOOQHVVVHUYLFHV:HRIIHUZHOOQHVVWHVWLQJDQGDQDO\WLFVHUYLFHVVXFKDVRXU
%OXHSULQWIRU:HOOQHVVSURJUDPWRHPSOR\HUVWRHQDEOHWKHPDQGWKHLUHPSOR\HHVWRWDNHDQDFWLYHUROHLQLPSURYLQJWKHLU
KHDOWKDQGFRQWDLQLQJFRVWV$VDUHVXOWRIRXUDFTXLVLWLRQRI6XPPLW+HDOWKZHDOVRDUHDOHDGLQJSURYLGHURIRQVLWH
SUHYHQWLRQDQGZHOOQHVVVHUYLFHVWKDWKHDOWKSODQVDQGKHDOWKLPSURYHPHQWFRPSDQLHVFDQUHVHOOWRHPSOR\HUVDQGRWKHUFOLHQWV
:HEHOLHYHWKDWRIIHULQJVHUYLFHVVROXWLRQVDQGLQVLJKWVEDVHGRQDIXOOUDQJHRIWHVWVZLOOVWUHQJWKHQRXUPDUNHW
RIIHULQJPDUNHWSRVLWLRQDQGUHSXWDWLRQ2XUH[SHULHQFHGPHGLFDOVWDIIKDVDSDVVLRQIRUSURYLGLQJWKHKLJKHVWTXDOLW\VHUYLFH
WRRXUFXVWRPHUV2XULQKRXVHH[SHUWVLQFOXGLQJPHGLFDOGLUHFWRUVVFLHQWLILFGLUHFWRUVJHQHWLFFRXQVHORUVDQGERDUGFHUWLILHG
JHQHWLFLVWVSURYLGHPHGLFDODQGVFLHQWLILFFRQVXOWDWLRQUHJDUGLQJRXUWHVWVDQGWHVWUHVXOWVDQGKHOSSK\VLFLDQVDQGRWKHUVEHVW
XWLOL]HWKHVHWHVWVWRLPSURYHSDWLHQWRXWFRPHVDQGHQKDQFHSDWLHQWVDWLVIDFWLRQ2XUDSSURDFKIRVWHUVSHUVRQDOL]HGSDWLHQWFDUH
:HKDYHEXLOWDGYDQFHGWHVWLQJFDSDELOLWLHVLQFOXGLQJJHQHEDVHGWHVWLQJVHUYLFHVIRUWKHSUHGLVSRVLWLRQGLDJQRVLV
WUHDWPHQWDQGPRQLWRULQJRIFDQFHUVDQGRWKHUGLVHDVHV:HSURYLGHLQWHJUDWHGFRPSUHKHQVLYHGLDJQRVWLFLQIRUPDWLRQ
VHUYLFHVWKDWLQFOXGHERWKDQDWRPLFSDWKRORJ\DQGFOLQLFDOSDWKRORJ\WHVWLQJHQDEOLQJRXUSDWKRORJLVWVWRRIIHUSDWLHQWVDQG
SK\VLFLDQVDFRPSOHWHDQDO\VLV:HRIIHUKXQGUHGVRIHVRWHULFWHVWVLQFOXGLQJEXWQRWOLPLWHGWRWKHIROORZLQJILHOGV
HQGRFULQRORJ\DQGPHWDEROLVPWKHVWXG\RIKRUPRQHVDQGWKHLUHIIHFWVRQERG\JURZWKDQGPHWDEROLVP
JHQHWLFVWKHVWXG\RIFKURPRVRPHVJHQHVDQGWKHLUH[SUHVVLRQ
KHPDWRORJ\WKHVWXG\RIEORRGDQGERQHPDUURZFHOOVDQGFRDJXODWLRQWKHSURFHVVRIEORRGFORWWLQJ
QHXURORJ\WKHVWXG\RIWKHQHUYRXVV\VWHPLWVVWUXFWXUHDQGLWVGLVHDVHV
WHVWLQJXVHGLQWUHDWPHQWVHOHFWLRQDQGPRQLWRULQJRISDWLHQWVZLWKVROLGRUJDQDQGERQHPDUURZWUDQVSODQWDWLRQ
LPPXQRORJ\WKHVWXG\RIWKHLPPXQHV\VWHPLQFOXGLQJDQWLERGLHVF\WRNLQHVLPPXQHV\VWHPFHOOVDQGWKHLU
HIIHFWUHFHSWRUV\VWHPVDQGDXWRLPPXQHGLVHDVHV
PLFURELRORJ\DQGLQIHFWLRXVGLVHDVHVWKHVWXG\RIPLFURVFRSLFIRUPVRIOLIHLQFOXGLQJSDUDVLWHVEDFWHULDYLUXVHV
IXQJLDQGRWKHULQIHFWLRXVDJHQWV
48(67',$*1267,&6)250.