Quest Diagnostics is easily the go-to place for anyone looking to get blood work done. The clinical laboratory, however, is more than just a clinic where you can get your blood drawn. The global company works with other medical facilities to collect and test fluid specimens. The role of Quest Diagnostics in the medical industry is crucial in the diagnosis of many diseases, but they also contribute into other industries through employment-related drug testing and the like. Quest Diagnostics’ CEO Steve Rusckowski has been leading the company since 2012, and here are 10 things to help you get to know him more.
Even though Rusckowski lives in New York now, he’ll always consider himself to be a Massachusetts man. Rusckowski was originally from Connecticut, where he was born and raised. He moved to Massachusetts for educational purposes. He attended the Worcester Polytechnic Institute for college, where he received a Bachelor of Science degree in Mechanical Engineering. He went on to receive his Master’s business degree from the Massachusetts Institute of Technology Sloan School of Management. Rusckowski ended up staying in Massachusetts for many decades. He settled in Andover with his family. He remains to be a big fan of Boston today.
2. Philips Healthcare
Before he became CEO of Quest, Rusckowski was working as CEO of another company—Philips Healthcare. Under his tenure there, Rusckowski led that team to become the largest unit of Royal Philips Electronics. He was appointed after the former CEO of Quest Diagnostics, Surya Mohapatra, resigned from his position. Mohapatra served as CEO for 8 years, and Rusckowski has now been CEO for roughly 7 years.
3. Proctor & Gamble
It’s interesting that Rusckowski works in healthcare given that he went to school for mechanical engineering. However, Rusckowski’s first job right after college was at Proctor and Gamble, a multinational corporation that offers a wide range of personal and consumer health products along with other consumer goods. He worked in the operations aspect of the company before going back to school to learn more about business.
Many people would naturally associate Hewlett-Packard with computer technology. But the company was actually one of the leading medical technology companies back in the 80s. His work with Hewlett-Packard’s medical business is what got Ruckowski started in the medical industry. It was here that he also got his first opportunity in general management. Hewlett-Packard also became his segue into Philips.
5. Innovation and tech
Rusckowski believes deeply that the solution to many problems in healthcare is innovation and tech. In fact, he’s always believed the same even during his Hewlett-Packard days. While many medical facilities shy away from tech due to cost, Rusckowski argues that it’s actually technology that solves the issue of cost in healthcare. Rusckowski believes that innovative diagnostic testing can empower the healthcare industry altogether. He approaches his leadership with the technicality of an engineer and the vision of an entrepreneur. This is why Quest Diagnostics has managed to be at the top of their industry.
Apart from serving as CEO of Quest Diagnostics, Rusckowski also serves as Board member for a few of other companies. The first is Xerox, an American global company that deals with print and various document products and services. The second company where Rusckowski serves as member is the American Clinical Laboratory Association. It is an organization that advocates for clinical laboratories. Quest Diagnostics has been part of the ACLA for many years now. Rusckowski has been member of the board since 2017, but he also served as Chairman of the Board from 2014 until 2017. Rusckowski serves as board member for the following companies and organizations as well: Focused Ultrasound Surgery Foundation, Massachusetts High Tech Council, and Project Hope.
7. New England Patriots
Quest Diagnostics struck up a partnership with the New York Giants in order to help the organization with sports diagnostics. Diagnostics is extremely important in sports in order to promote peak performance among athletes. However, this was quite difficult for Rusckowski to swallow given that he’s a diehard fan of the New England Patriots. As mentioned earlier, Rusckowski will always consider himself a Massachusetts man.
For the 2018 fiscal year, Rusckowski received compensation in the amount of $9,953,287. Out of that entire amount, his base salary was $1.1 million. He also received bonuses and non-equity incentive compensation in the amount of $788,700. His total equity is what increases that compensation; that totaled to about $7,750,002. The rest of his compensation is covered by other salary types, which all add up to his total. It isn’t a bad way to make a living at all.
Rusckowski is not the only one in his family that works in the medical field. In fact, his wife happens to be a nurse. It is unclear whether his wife is still working in the field today, but we can imagine that he probably got a lot of insight about the inner workings of the medical field through his wife. After all, she had more direct experiences and interactions with the medical laboratory and diagnostic testing fields.
10. Big boss
It’s easy to call someone CEO, but it’s hard to imagine what that must mean for every company. For Steve Rusckowski, being CEO of Quest Diagnostics is a big deal. This means that he takes care of over 45,000 employees worldwide. About 1,500 of those employees are located in Massachusetts alone. In addition, Quest Diagnostics takes care of over 1/3 of all of the US’ laboratory tests. Rusckowski’s responsibility is enormous, and he takes this as seriously as possible. His leadership is what's going to take Quest Diagnostics into the future.
Written by Garrett Parker
Read more posts by Garrett Parker