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People across Quest and the industry are remembering Paul Brown, M.D., who in 1967 founded MetPath - the company that eventually became Quest Diagnostics, for his innovation, vision and character. He died earlier this month at the age of 85.
In 1967, Brown founded MetPath, an American company providing clinical-laboratory services. MetPath was acquired by Corning Glass Works for $140 million in 1982 and later spun off as Quest Diagnostics (DGX) in 1996. He also founded HEARx in 1986, which was renamed to HearUSA and was acquired by Siemens AG for $130 million in 2011. [1]
Chairman Of The Board at Quest Diagnostics · Experience: Quest Diagnostics · Location: West Palm Beach. View Paul Brown’s profile on LinkedIn, a professional community of 1 billion...
- Quest Diagnostics
In 1967, Paul A. Brown, M.D., founded what would become Quest to fill a gap; a lack of accessible outpatient testing. Our practice has since built on itself, making us an early pioneer in serving patients nationally. Drawing new insights from billions of data points.
- Partnership Strategy
- Protecting Access to Medicare Act
- Consumerization
- Population Health
- Mutual Exclusivity
- Theranos
- Looking Back and Wrapping Up
Q: We alluded earlier to how unconsolidated the lab industry was when Brown got started. And as much consolidation as there's been in the past 50 years, the industry is still quite fragmented. Quest represents only 8% of the larger $80 billion lab sector. Independent labs are 17%, LabCorp is 7% and the balance is owned by hospitals and health syste...
Q: Let's talk about that melting ice cream cone for a moment. We'll start by going back to April 1, 2014, when the Protecting Access to Medicare Act (PAMA) was signed. PAMA is one of those innocuous-sounding acronyms that's actually hugely consequential for your industry. Talk about what PAMA represents, because it's while it is injurious to everyb...
Q: This discussion dovetails closely with what seems to be a key element of your growth strategy: consumerization and retail strategy. I'm particularly curious around the 200-plus retail sites that you have in-flight with Safeway and Walmart. Rusckowski:So we have five strategies for growth, one of which is to be the most consumer-oriented diagnost...
Q: Let's periscope up and talk more broadly about something we touched briefly on earlier. Lab may represent only 3% of the health care dollar, but it touches at least 70% of downstream care. With this math equation in mind, how are you thinking about deploying your diagnostic insights? How to inflect the industry at the most urgent macro-level, wh...
Q: Let's pivot from consumer trends and reimbursement to the more conventional (and arguably more consequential) payer side. Between 2007 and 2018, Quest as in an exclusive contract with Aetna, while your competitor was exclusive with UnitedHealthcare. That all changed in 2019, when both Aetna and United opened up their panels and discontinued the ...
Q: I have one digression I'd like to explore—and perhaps you were expecting this—but I have to ask about Theranos. We know now how deeply fraudulent Theranos and Elizabeth Holmes were. But at the time, of course, we were all captivated with the promise of this putative revolutionary technology. So I'm curious for your reflections on this odd chapte...
Q: Before we start to wrap up, Steve, I'd like to ask about your personal career path. I understand you weren't always interested in health care—in fact, you originally started as an engineer. What made you shift course? Rusckowski:That's an interesting question, Eric. As you mentioned, I trained as an engineer at Worcester Polytechnic Institute, a...
Originally founded as Metropolitan Pathology Laboratory, Inc. in 1967 by Paul A. Brown, MD, the clinical laboratory underwent a variety of name changes. [8] . In 1969, the company's name changed to MetPath, Inc. [9] with headquarters in Teaneck, New Jersey.
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Oct 21, 2022 · For a man who hasn’t been CEO since 1982, Paul Brown left a lasting imprint on the corporation that is now Quest Diagnostics. The company’s website maintains a tribute to Brown’s scrappy ...
