Quest Diagnostics 1Q13 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“In January, we told you we anticipate a continued revenue softness in the first half of this year and that our efforts to restore growth would result in gradual improvement through the rest of the year.”

“While some of this may be driven by continued softness in healthcare utilization, we believe there is more we can do to restore growth.”

“we had a sales force that didn’t have some of the contemporary tools that contemporary sales forces have today.”

“we continue to believe that the Affordable Care Act will be a net positive for us going forward. And as we all know, 2014 is an important year, where some of the new lives will start to enter the system. And we believe that when we have new lives in the system, that they’re going to be what we do, and that will be net positive for this industry but also net positive for us.”

” 1% to 2% is what we’re looking at for price erosion. That’s past 2013 if we’ve modeled out what we think will happen on the commercial side and also what we know will happen on Medicare so far, and that’s what’s in the number.”

“actually if you look at our first quarter volumes, they were up a little bit versus what we saw in the fourth quarter…But if you look at what we’re assuming in our guidance going forward, we’re not looking for a material change in the overall environment in the marketplace.”