Quest Diagnostics (NYSE:DGX) announced that through its "Peace of Mind" program, it will provide special VIP-level access to its 2,250 patient service centers across the United States for people, who are most susceptible to COVID-19.
The initiative will make the company one of the active players that are combating the public health crisis.
More About the Program
Through the initiative, people, who age 60 years and above or have other conditions known to elevate the risk of exposure to COVID-19, will be granted special access to the centers during the first hour of each day after each center opens. Patients have the option to schedule an appointment beforehand or they can even show up without an appointment in centers that allow walk-ins.
Notably, Quest Diagnostics’ patient service centers are not admitting patients suspected or confirmed to be affected with coronavirus. The centers are also not directly collecting samples for COVID-19 testing. However, the company is accepting and conducting testing on COVID-19 specimens submitted by healthcare providers across the United States.
Moreover, Quest Diagnostics has implemented other precautionary measures to ensure that all patients have access to a safe and healthy environment. Moreover, the company is promoting social distancing by restricting the number of chairs in patient service centers to no more than 10. It is also distributing hand-buzzers to patients after they register, enabling them to return to their vehicles if they want until they are buzzed for the appointment. The company is also staffing the doors of many centers with an escort to allow access.
The program has started in select locations from Mar 21 and will be available nationwide from Mar 23.
Recent Developments
Lately, Quest Diagnostics has been taking major strides in battling the coronavirus pandemic.
The company recently announced plans to launch a coronavirus (COVID-19) test service. Notably, the collection of specimens has already started on Mar 9, 2020. Through the latest service, the company will cater to the testing requirements of patients in the United States. The test facilitates the presumptive detection of nucleic acid in respiratory samples of patients who meet the clinical criteria of the Centers for Disease Control and Prevention for COVID-19 testing.
Price Performance
In the past year, the stock has lost 15% compared with a 23.9% decline of its industry.
Zacks Rank and Key Picks
Quest Diagnostics currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are ResMed Inc. (NYSE:RMD) , Medtronic plc (NYSE:MDT) and Hill-Rom Holdings, Inc (NYSE:HRC) .
ResMed has a projected long-term earnings growth rate of 12%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Medtronic’s long-term earnings growth rate is estimated at 7.4%. The company presently carries a Zacks Rank #2.
Hill-Rom’s long-term earnings growth rate is estimated at 11.1%. It currently carries a Zacks Rank #2.
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