I would say no. Most of the reason fish are quarantined is to treat diseases or watch for diseases. Most disease treatments are not good on corals and if a disease is discovered and a hospital tank is to be used you have to tear the tank apart to get the fish (will need to happen eventually anyways) and then leave the tank through a fallow period. A dedicated quarantine tank can have the fish treated in it and if a disease is discovered, and not just wiped out by the medication, easily torn down and disinfected.