"The Great Train Robbery"

Quote

anonymous

Guest
Like in the movie, these types of procedures take great planning. Now you don't plan the big one before you practice with little ones. Just follow your reports and notice that commonalities exist. Far to many to be just a "coincidence". Follow your gut in this investigation.
Now let's not BS anyone, you knew what you were getting into with the purchase of this company. You were well acquainted with the inner workings through rumor and fact. Now that you have gotten into this deal, you need to maintain the business and the revenue. You are on the right tract, however what is going to be done to actually "protect this house" Approxaimtely $200,000,000 was spent on this acquisition, all of which is shareholder money. Have you no respect for "The Stakeholders" These are mutual funds, pension plans, IRA's, 401k... The Ex VP of the Northern NJ company is in the process of continuing the Great Train Robbery, Question is, Are you going to allow it?
 






All Quest does is look at these reports, metrics, six sigma and they gather people into rooms and have ridiculous meetings. They will do nothing to protect the shareholders. They purchase a company "assets only" why, obviously there was a problem and they know about it. Quest figured they covered themselves.

So they get into bed with a bunch of reps who all had situations in the past that has put a serious non removable stain on this purchase and company. They do understand that business has left by the hands of their own representatives.

Once the leader left then other managers and people didn't have a chance!!!

Continue to investigate what has left, it is simple to determine and understand what has transpired.
What every specimen that has not left yet. These are very strong relationships with offices that are not shy in taking things whether goods, services, and anything to save money or update their practice.

Quest you were foolish, you walked away the first time for a reason, I guess your CEO realizes organic growth has no chance.
 


















Quest Management,

Make sure you keep your security measures in place. To much business has walked out the door by the hands of your own representatives. Many of these reps are gone, but a few still remain who have pilfered your revenue. They are literally stealing your purchased specimens. What are you doing to stop this?

Keep looking at your weekly reports, the plan is being made by the Ex VP of Shiel. Setting up shop, in the process of setting up his I T Department with your former employee. They will have some other people as the front.
The Brooklyn private lab has taken quite a few specimens and more to come.

I think this should be in one of the local newspapers. $200,000,000 to purchase company and business is disappearing.

This is Shameful, have you no respect for shareholder money? I guess leadership doesn't care, after all its not your money.
 












anonymous said:
Quest Management,

Make sure you keep your security measures in place. To much business has walked out the door by the hands of your own representatives. Many of these reps are gone, but a few still remain who have pilfered your revenue. They are literally stealing your purchased specimens. What are you doing to stop this?

Keep looking at your weekly reports, the plan is being made by the Ex VP of Shiel. Setting up shop, in the process of setting up his I T Department with your former employee. They will have some other people as the front.
The Brooklyn private lab has taken quite a few specimens and more to come.

I think this should be in one of the local newspapers. $200,000,000 to purchase company and business is disappearing.

This is Shameful, have you no respect for shareholder money? I guess leadership doesn't care, after all its not your money.
Click to expand...

The real lesson here that is now in the mind of the public, our elected officials and our new legislation is the corrupt attempt by ancillary providers to buy and sell the future business of the paying customers, by ignoring the patients as the decision makers. Just look at the backwards mindset, demonstrated here in the post above. “They are literally stealing your purchased specimens.” How exactly can one purchase specimens and test orders for lab services that the public has yet to need, ask for or make an informed decision about? Quest Diagnostics is learning, albeit slowly, to properly market directly to the patients and to provide a superior service and customer experience, to earn future business from the actual paying customers. To approach it any differently, would be truly shameful. Hope this helps.
 






Your response is a clear example if you commenting on anything and everything. This post was speaking about a company purchased by Quest for $200,000,000. Then those reps who were and are current employees of Quest went to those accounts and had them divert specimens to other privately held labs in the NY region.
If you love this company as much as you say, then you too should be repulsed by them taking specimens that were purchased by Quest. This was not organic growth, but PURCHASED specimens thru acquisition Know it all!!!
 






If a rep had the power to make a provider send their lab work anywhere they wanted, I assume that rep would not be wasting his or her time in the lab industry. They would be using these superpowers for something far more lucrative and important than selling commercial lab services.
 






anonymous said:
If a rep had the power to make a provider send their lab work anywhere they wanted, I assume that rep would not be wasting his or her time in the lab industry. They would be using these superpowers for something far more lucrative and important than selling commercial lab services.
Click to expand...

Ok, that makes sense, how about the fact that you have been in the lab business for 20 years or more. You have had the same accounts for that period of time. You were making commissions for a decade or more in those same accounts. You have strong relationships with those accounts.
So you bring them to another lab that will pay, maybe 10% life on those accounts.
Now you will ask, why will those accounts leave Quest? Well they will leave because of the benefits such as supplies, lunch, dinner, monthly fees, maybe new equipment...

Many of these accounts were "takers".
What is in it for them. These sales reps understood that they needed to lead with a positive for the account, which was better service and the ability to furnish the account with what they wanted and needed. Anything!!!

Don't be so naive, or better yet, you are throwing up a smoke screen because you are deflecting.
 






anonymous said:
Your response is a clear example if you commenting on anything and everything. This post was speaking about a company purchased by Quest for $200,000,000. Then those reps who were and are current employees of Quest went to those accounts and had them divert specimens to other privately held labs in the NY region.
If you love this company as much as you say, then you too should be repulsed by them taking specimens that were purchased by Quest. This was not organic growth, but PURCHASED specimens thru acquisition Know it all!!!
Click to expand...

It is nothing short of a miracle that you can continuously advance beyond the verification question on this forum. Quest is not in the business of purchasing businesses as a going concern. We purchase a revenue stream, with the intent to fold it into our operation and a goal to limit attrition. We do not and cannot purchase specimens or orders and the practice of these revenue stream acquisitions are dubious, in that no new opportunities are created and retention has a poor revenue to expense ratio. We already exist as a valid option in virtually every ordering physicians office and the new business we hope to acquire has previously declined to use our service and will likely do so again as long as other options are available. This is why a new, much improved, and more ethical approach to acquiring new patient driven business is taking over the entire industry. Unfortunately to the detriment of commissioned sales personnel. Hope this helps.
 






anonymous said:
Ok, that makes sense, how about the fact that you have been in the lab business for 20 years or more. You have had the same accounts for that period of time. You were making commissions for a decade or more in those same accounts. You have strong relationships with those accounts.
So you bring them to another lab that will pay, maybe 10% life on those accounts.
Now you will ask, why will those accounts leave Quest? Well they will leave because of the benefits such as supplies, lunch, dinner, monthly fees, maybe new equipment...

Many of these accounts were "takers".
What is in it for them. These sales reps understood that they needed to lead with a positive for the account, which was better service and the ability to furnish the account with what they wanted and needed. Anything!!!

Don't be so naive, or better yet, you are throwing up a smoke screen because you are deflecting.
Click to expand...

Perhaps you didn’t get the memo, son. The days where there was value in your “relationships” with the ordering physicians are over. They are now a criminal liability for any entity foolish enough to employ you and for any physician desperate enough to associate with you. Your coworkers have always despised you. Your employers considered you a necessary evil and are happy to soon be rid of you and the general public considers commissioned healthcare salesmen as parasites on a healthcare system in crisis. Hope this helps.
 






anonymous said:
It is nothing short of a miracle that you can continuously advance beyond the verification question on this forum. Quest is not in the business of purchasing businesses as a going concern. We purchase a revenue stream, with the intent to fold it into our operation and a goal to limit attrition. We do not and cannot purchase specimens or orders and the practice of these revenue stream acquisitions are dubious, in that no new opportunities are created and retention has a poor revenue to expense ratio. We already exist as a valid option in virtually every ordering physicians office and the new business we hope to acquire has previously declined to use our service and will likely do so again as long as other options are available. This is why a new, much improved, and more ethical approach to acquiring new patient driven business is taking over the entire industry. Unfortunately to the detriment of commissioned sales personnel. Hope this helps.
Click to expand...

Let me put it as simple as possible for you know it all.

Quest purchased Shiel Medical Laboratory, along with new specimen s which is the revenue stream, came new reps that were and are employed by Quest.
These same reps, even though covenants are involved, have taken that business and their relationships to other labs while still working at Quest, hense "purchased business through acquisitions".

Stop commenting on what you don't know or understand.
 












anonymous said:
Let me put it as simple as possible for you know it all.

Quest purchased Shiel Medical Laboratory, along with new specimen s which is the revenue stream, came new reps that were and are employed by Quest.
These same reps, even though covenants are involved, have taken that business and their relationships to other labs while still working at Quest, hense "purchased business through acquisitions".

Stop commenting on what you don't know or understand.
Click to expand...

hey hey now!!! what I don't know??
 






last comment has nothing to do with this thread. Quest management needs to protect their acquisition and litigate against companies and reps who have taken specimens elsewhere while covenants exist. Quest spent many millions to acquire this business and a fir percentage is leaving out the back door.
 






anonymous said:
last comment has nothing to do with this thread. Quest management needs to protect their acquisition and litigate against companies and reps who have taken specimens elsewhere while covenants exist. Quest spent many millions to acquire this business and a fir percentage is leaving out the back door.
Click to expand...

Quest purchased an opportunity to acquire future business through the entity known as Sheil. The patients and their insurers are the only paying customers in this equation, who ultimately decide if, when, what and most importantly where testing will be performed in the future. Labs, sales reps and their physician clients do not own and cannot buy and sell orders and specimens. If Quest Diagnostics has employees that are not acting in their best interest they should terminate their employment and take any other action that is allowed by law. And if Quest is losing business, they should, in accordance with the law, examine and correct the reasons why. Your nonsensical diatribe about reps stealing specimens speaks directly to the well accepted notion that the commission reimbursement structure for ancillary healthcare services, aimed at and calculated by physician’s orders is flawed, corrupt and long overdue for change. And that change is happening now. Hope this helps.
 






anonymous said:
Quest purchased an opportunity to acquire future business through the entity known as Sheil. The patients and their insurers are the only paying customers in this equation, who ultimately decide if, when, what and most importantly where testing will be performed in the future. Labs, sales reps and their physician clients do not own and cannot buy and sell orders and specimens. If Quest Diagnostics has employees that are not acting in their best interest they should terminate their employment and take any other action that is allowed by law. And if Quest is losing business, they should, in accordance with the law, examine and correct the reasons why. Your nonsensical diatribe about reps stealing specimens speaks directly to the well accepted notion that the commission reimbursement structure for ancillary healthcare services, aimed at and calculated by physician’s orders is flawed, corrupt and long overdue for change. And that change is happening now. Hope this helps.
Click to expand...


well said!!!!
 












Ok Opie, you are a troubled individual.

However , for the security department. You understand what is being said and what needs to be done. When you purchase an organization, you expect your new employees to follow the rules. You do not want these employees to take what you just purchased out the back door. Any successful rep who worked for a private organization developed deep personal relationships based on a variety of factors. These accounts will try another lab because of the relationship.

Unless of course, Quest chooses to protect their investment. Litigation needs to begin for many of these representatives.

Or, you don't give a hoot about the shareholders, pension funds, 401k's...
 






Top Bottom
Back
Quote