Quest Diagnostics Remains a Dominant Competitor in Independent Labs

Quest Diagnostics is a leading provider of independent diagnostic testing in the US thanks to its network of roughly 2,400 patient service centers across the country. Quest's size-driven cost advantage allow the firm to benefit from several secular trends, including the proliferation of diagnostic tests and greater clinical reliance on personalized therapies. Additionally, Quest is enjoying a reprieve from Medicare-related pricing pressure as regulators tinker with the method for setting lab test reimbursement rates.