Quest Diagnostics expects reimbursement cuts to hurt in 2013
(Reuters) – Laboratory tests provider Quest Diagnostics Inc’s fourth-quarter profit missed analysts’ recently cut estimates, and the company forecast 2013 results below market expectations, citing pricing and reimbursement pressures. Quest, the No. 1 U.S. laboratory testing company, and its peer Laboratory Corp of America Holdings face falling test volumes as hospitals buy physician groups, which order tests to be conducted inhouse. Shares of Quest, which conducts tests under brands such as AmeriPath and Athena Diagnostics, were down 5 percent at $58. …