Quest Diagnostics said its average turnaround time for a COVID-19 test is now at “seven or more days,” up from four to five days at the end of June.
- Its testing backlog is getting worse because of the high demand in parts of the country where infection is spreading, Axios’ Bob Herman writes.
Why it matters: Long backlogs make testing less useful — public health officials need to know what their local situation is like now, not what it was like a week ago. Delays are especially problematic if people who are infected continue to go about their lives while they wait for their results.
Between the lines: Quest told investors Monday that its second-quarter revenue will be down 6%, hovering around $1.83 billion, as coronavirus testing has supplanted other, more lucrative tests that had to be put off.
- But Quest still expects to register a profit of at least $1.33 per share thanks to $65 million of government bailout funds and high volumes of COVID-19 tests.