The Changing Landscape of Public Health with Dr. Shafer of Quest Diagnostic
Dr. Christopher R. Shafer is the Director of Program Management with Quest Diagnostics, a Fortune 500 Company and leader in the laboratory and medical diagnostics space. Headquartered in Secaucus, NJ, Quest Diagnostics has operations in India, Ireland, and Mexico with products and services used by customers in over 130 countries.
In this interview, Dr. Shafer discusses his views on the future of work, the state of public health and pragmatic business decisions every leader should evaluate, both in times of uncertainty and of stability.
Q: The impacts of COVID-19 have undoubtedly changed the way we live our lives, and arguably, these changes will sustain the rest of life, as most of us know it. In looking at these impacts through the lens of public health, economic reactions and a global pandemic, how do you foresee the future of “work” unfolding, at least for the next decade?
A: This pandemic may not only alter the way we approach our work for the next decade, but many decades after the current one. I believe many businesses are re-evaluating and adapting to this new normal, and will need to adjust the way they approach work with their employees. Quest Diagnostics has been an industry leader when it comes to flexible working options for their employees. Such examples include flexed working positions (part-time in office, part-time remote), and full-time remote positions, if work allows for such. What once was looked as a “benefit,” may now become a “requirement,” as more businesses realize that work can be accomplished at home without a sag in productivity.
Q: This global pandemic has proven to us all, that we truly are a globalized economic market. How do you envision this resurgence in awareness to play into the future of “work”?
A: Even prior to the pandemic, particularly as time has progressed in the 2000’s, we as a people have become extremely interwoven when it comes to work. The pandemic has brought this more as a focal point in our lives, showing that we are truly in this together, and we must work together as one global society to overcome the challenges it brings. I am curious if we will begin to see a shift of certain economic sectors that have seen heavy outsourcing in the past, bring their operations back to the United States, post the COVID-19 pandemic.
Q: From a pure business perspective, what would you surmise as being the top three (3) revelations Leaders faced when dealing with disaster recovery plans and bracing for potentially devastating impacts to their businesses? (i.e. Reserves were limited and/or non-existent, the workforce was not agile to shift remotely quick enough, etc.)
A: As COVID-19 forces the closure of many businesses, including those in the healthcare space, business leaders have had to take a strong look at the following:
Current cash on hand and impacts to cash flow
With many places of businesses essentially shut down, impacts to cash were going to hit many hard
The pure unknown of how long the pandemic and lock downs were to last, made addressing cash as a crucial point with mitigating the devastating impacts of COVID-19
Identifying high-impact short term measures to protect financial solvency, positioning for long-term sustainability and growth
Examples could include payroll reductions, furloughs, and suspension of employee benefits
Shifting non-essential employees to remote workspaces
With Quest Diagnostics being on the forefront of fighting the pandemic, not all positions were able to be shifted to the home (i.e. essential lab employees)
Many non-lab positions were forced to shift remote, putting certain pressures on specific areas of an organization (i.e. increase in VPN users)
Q: As a Leader yourself, how are you adapting your practices and methodologies to remain financially feasible in quite tumultuous and uncertain economic times?
A: Just as from a business perspective, being prepared both professionally and personally for that “worst case scenario” is vital to weathering an impactful event, such as a global pandemic. Being financially conservative, balancing smart investing while keeping a proper level of liquidity on hand, and taking temporary measures helps mitigate the anxieties that “tumultuous and uncertain” economic times bring.
Q: The medical industry, and certainly diagnostics and laboratory, was one of the first industries called into action, for what we will term, “Phase 1”, of the COVID-19, and continues to be called upon. How does the diagnostic industry foresee being injected into the new “future of work” under this new world as we now know it?
A: Quest Diagnostics has been, and will continue to be, at the forefront in the fight against COVID-19 and getting the United States back to “pre-COVID-19 life.” Quest Diagnostics is working with various economic sectors, to provide large scale COVID-19 active infection and antibody testing. This testing is essential for employers to make the determination if it is safe to bring their employees, as well as customers, back into their workspaces. This initiative stretches beyond just healthcare companies, as Quest Diagnostics is currently partnering with organizations in such sectors as education, sports, and tech.
Q: Do you foresee a major wave of innovation on the horizon to allow businesses to meet the new guidelines and potential future testing requirements to remain competitive and viable?
A: Not just innovation, but the ability to think outside the box, on how organizations can respond to the needs of the country and world if another pandemic were to happen. During COVID-19, the demand for testing versus testing capacity put a significant strain on diagnostic testing, and the ability to turnaround results in a timely fashion. Quest Diagnostics responded to this challenge, by continually adding new instruments to expand capacity. Beyond these investments, Quest Diagnostics also began to think of ways to implement new methods to increase capacity. The organization was successful in obtaining an emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for new RNA extraction methods, including pooling of specimens. It is innovative thinking such as this, that will allow Quest Diagnostics to remain competitive and viable during the current pandemic, and potentially respond quicker to future pandemics.
Q: What was the last book you read?
A: The last book that I read is “The Matriarch: Barbara Bush and the Marking of an American Dynasty” by Susan Page. I am currently reading “She Said: Breaking the Sexual Harassment Story” by Jodi Kantor and Megan Twohey.
Q: What is your favorite personal activity?
A: Tennis
Q: Where would you like to travel to next?
A: I’m taking a Mediterranean cruise from Greece next year.
This interview was conducted by the team at Stonehill. Stonehill is a strategy and innovation firm that helps businesses to identify opportunity, implement change, and accelerate growth. Our team consists of an innovative blend of creative, strategy, technology, and change management experts that allows us to unite the functional silos of business in the common objective of creating differentiated customer experiences.