Quest Diagnostics Inc. Strategic Plan

Quest Diagnostics Inc.

Introduction

Quest Diagnostics is the country's number one and leading diagnostic company providing facility of diagnostic testing and related necessary information and services. It not only provides diagnostic services in US but has expanded globally in other countries and regions as well to cater to the masses. It was originally founded by Dr. Paul Brown in the year 1967 by the name of MetPath. Dr. Paul Brown started at a very small scale in the form of a clinical laboratory which provided similar services but at a small level. Later on, MetPath was taken over by Corning Inc. in 1982. Corning Inc. kept on expanding the company and its operations which further resulted in the purchase of Nichols Institute in the year 1994. The managements then decided to take advantage of the growing business and transformed the entire business from a simple laboratory testing to a full fledge diagnostic centre by the name of Quest Diagnostics. It provides with the facility of clinical testing on blood, serum, plasma, urine and other body fluids (Virginia's Community College).

Discussion

Implementation Plan

Quest Diagnostics is currently the market leader in the US in terms of providing the best diagnostic services regardless of the recession and economic downturn in the country. Many people are jobless but majority of health care companies are making more convenient and coming up with reasonable packages to encourage people to purchase healthcare policies which is further improving the business of the company as more and more people are becoming aware and availing its services for testing and prevention purposes. Their Strategic Plan is based on the following 3 important things that are Patients, People and Growth.

Patient is of primary importance being the client and customer of the company. The company emphasized upon putting the patient first and on the top priority by employing six sigma quality factors and reducing the anxiety time that they might face in waiting for the reports.

After that come the People that are employee working at Quest Diagnostics. They must work hard towards providing the best services to the patient by improving their skills and potential at a personal level, working toward better future and growth of self and the company.

The third most important factor is that of Growth which is achieved through continuous improvement of processes and technology through innovation and modification to make things more efficient and cost effective by increasing profitability. They must strive towards gaining the trust of the customer and build strong relationships (Florida Sterling)

Strategic Objective

The objective of Quest Diagnostic is to be the number one company in its area of expertise and services all over the world by using its People, Patients and Growth factor. The company wants to be the leading diagnostic service provider in the world and have opened their service centers in many countries. Additionally, they are selling the services to different health care providers and doctors so that their patients use the Quest diagnostic's services when doctor recommends using their ...