hey BOARD, comments pl on EXOSOME pricing
Rev 2.a EXOSOME PRICING POINTS
Exosome Binary blood test "first- to- market" for preventive early detection and post-treatment monitoring
Some field research nuggets, but what does it mean to you?
My question to four USA well-to-do entrepreneurs and professionals, age 40 to 62, as to value of such early detection test for cancer: -- the entrepreneur "priceless, would pay anything ie, $3000 a year", pressed for more reasonable price, he "thought $300 would be cheap" , his wife, a manager in an insurance company, being the youngest and the others with very expensive hobbies could not make up their minds, even with $100 I posed as reasonable. Needs some selling, as "universal" to all solid cancers and "accurate" might appear too good to believe? And likely it did not overly interest them. Hence, a 33% response rate assumed in the USA population earlier on (see 1. EXOSOME).
In follow-up questioning to a more representative cross-section:
one man gave a "$4,000" and does not want annual (?); two intelligent and personable middle class working women, ages 40-50, separately (!) came up with $200; a retired couple both thought $300, her mentioning that even at $100 and covered 80% by medicare many could not afford such (reality in this evolving USA now);
a 34 year old (plus minus 4yrs) psychiatrist with provocative legs and provocatively argued views (no mattter my facts!)--she thought any tests must be DNA based as cancer is inherited, so our test should cost $25,000 as such was a DNA defect tests for her fetus, a n d (priceless) most people do not want to know if they have cancer, "are in denial", as "having cancer would have them be shunned " -- adding "believe me, I have talked to my clients". Wow.
And worse, a 50 year old high spending wife of a 1%ter or 2%ter high earnings executive who in her earlier career had been in advertising, is college educated and with three children, whose in-law had died of cancer, could not make up her mind if she even wanted an early detection test, never mind come up with a reasonable price ("is it covered by insurance?") all that after 8 minutes of giving her the relevant information – "I have to know more about it to make up my mind" -- sounds like the psychiatrist was right, "denial".
One mid-fifties man offered a $300, two late 50s women did not want to have early detection (better not to know) until I laid out what an advanced cancer treatment really is all about (no price opinion).
Finally, one man did not care about price or public media or advertising information, would only follow what his MD might suggest. Might be key! So can a single MD practice draw blood (nurse has to be specially licensed in the USA for this).
And a new consideration, under the "pre-existing condition exclusion" now pending for USA legislation on health care, IMO many may not want a test on early stage cancer especially if at a young age 35 they did not buy health insurance.
Hence, let us assume the Binary test at a $150 point-of-use price.
TOO CHEAP? OR IF OUT-OF-POCKET CASH (not insurance-covered) THEN LESS?
NOTES:
Other Consumer-related Pricing Points:
consumer direct, with ads – ancestry prognosis, 5 companies, pricing range $99 to $199 (DNA), mid-point $150.
in hospital annual blood test, diabetics, $172
comprehensive blood test $450 for cardiac patient (follow-up)
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