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Quest Diagnostics - Research Paper Example

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Quest Diagnostics Table of Contents I. Description of Chosen Organization 3 II. Purpose of Quality Management, Risk Management in Health Care Organizations, Quest Diagnostics 4 III. Quality. Risk Management Key Concepts in Quest Diagnostics 5 IV. Steps Quest Diagnostics May Take For Risk Identification and Management 6 V…
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Download file to see previous pages At Least Three Long Term and Three Short Term Goals for Quest Diagnostics 8 VIII. Identification of At Least Three Fundamental Risks Management and Quality Management Policies That Should Be Implemented at Quest Diagnostics, How They Will Influence Health Outcomes 8 IX. Relationship Between Risk Management and Quality Management at Quest Diagnostics, How the Two Disciplines Complement Each Other 8 References 10 I. Description of Chosen Organization Quest Diagnostics is in the diagnostic testing, services and information provision business within the healthcare industry. It operates in the United States and is a publicly traded firm with the ticker DGX at the New York Stock Exchange. It provides services through a country-wide network of diagnostics laboratories and service centers for patients that are owned by the firm. Making use of the medical staff as well as the scientific staff, the company is also in the business of the provision of consultation for interpreting the laboratory diagnostics. Services provided to the life insurance sector include risk assessment services and clinical testing services. Testing services for use in clinical trials as well as for drug dependence/abuse cases are also in the arsenal of provided services. Its most recent acquisitions include SED Medical Laboratories, and the laboratory concern of the UMass Memorial Medical Center in Worcester (Google Finance, 2013). The gist of the company’s business is reflected in the company’s vision of providing better health care empowerment through insights from diagnostics. Diagnostic data/information/insights are the core of the company’s business, provided to healthcare practitioners and related concerns so that they are able, with their patients, to make better decisions that impact their health lives. The insight into this is derived from what the company sees as the crucial role that testing and diagnostics play The company notes that through diagnostics testing and related services, the firm is able to offer risk management as well as wellness services, doing so for the life insurance industry as a core offering alongside healthcare IT, testing for clinical trials, products for diagnostics, and core services in diagnostic testing (Quest Diagnostics Incorporated, 2013; Quest Diagnostics Incorporated, 2013b). II. Purpose of Quality Management, Risk Management in Health Care Organizations, Quest Diagnostics Quality management and risk management in healthcare concerns serve the purpose of ensuring that the products and services that are on offer in these concerns/organizations do not endanger human lives and work as intended to improve healthcare outcomes for patients. At the same time, in the way Quest Diagnostics defines and provides risk management services on offer to life insurance companies, risk management has to do with reducing the risk exposure of life insurance companies in taking on and insuring people with varying levels of physical fitness and with varying medical conditions and susceptibilities. Taking a step back, for the health care industry as a whole, quality management and risk management has to do with excellence in the provision of such healthcare services. In diagnostics, quality has to do with accuracy and reliability of the diagnostics products and services, and in the case of Quest Diagnostics, such quality aspects translates to the long-term ...Download file to see next pagesRead More
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