You could go to the company's website and explore the "Question and Answer" page. Many investors are asking very good questions of Dr. Moskowitz and he is resonding with answers. This will give you a good idea of what the company is all about, it's areas of research and it's future potential which has many people so excited!
Here's the link: http://www.genomedics.com/investor/dsp_qa.cfm
I cut and pasted one Q & A from the site as an example. This investor asks several tough questions about how the company plans to make future revenues -
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How does GMED intend to make money out of licensing a treatment?
Has GMED ever explained how they intend to make money out of licensing a treatment?
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The Dr. Answers below:
"The answer is to consider Disease Management (DM), currently a $300 million industry. DM companies use nothing proprietary. They make their money by improving patient outcomes.
GenoMed, as a Next Generation Disease Management(tm) company with 32 provisional patent applications submitted to date, believes it can do at least as well as currently existing DM companies.
This brings us to the 2nd part of this multipart question: how do you change the system of payment? This is an excellent question, as the following story will show. About a year ago, I contacted Medicare (now called CMS) about our patent-pending method to prevent dialysis, since it would save CMS at least $15 billion a year. After months of e-mail delay, the discussion finally got bogged down permanently because Medicare does not have a budgetary category for paying license fees! Officially, I'm waiting for the Budgetary Office of Medicare to get back to my CMS contact about what GenoMed's payment category should be.
Of course, Medicare is a huge bureaucracy that would cease to exist, in part, if dialysis could be prevented. Bureaucracy is anti-innovative by its very nature. So it is silly to expect such a creature to ever pay us.
The patients are not averse to innovation, however. In fact, patients can't wait for medicine to get better. We get around the rigid payment structures of Medicare, and of the private health insurance plans who also ignore GenoMed, by appealing to patients directly. Private health plans, by the way, have no interest in paying for preventive medicine, since their patients will be in another plan by the time the prevention has worked. With 20-60% turnover per year, private plans have no financial interest in making patients healthier just so that their competitors can enjoy higher profits. Of course, there's such high turn-over because premiums increase so much every year. It's a wonderful Catch-22 situation.
Rather than trying to change the behavior of behemoths that refuse to change, GenoMed has devised a direct-to-consumer marketing strategy. Patients pay GenoMed directly, out-of-pocket, at the reasonable rate of $800 a year ($67 a month). We have chosen this price carefully. This is about what people already spend on vitamins, our market research showed.
We hope that people will eventually be able to convince Congress & Medicare, as well as their private health plans, to shoulder GenoMed's fee of $800 a year, instead of having to pay it themselves. I personally don't think this will happen anytime soon, but I'd be delighted to be proven wrong. Whoever pays the $800, it amounts to the same for GenoMed.
We now get to the final part of this question: how can you protect your intellectual property (IP)? GenoMed has little desire to hunt down individual physicians who are using our treatment methods for their patients without first getting a license from us. Besides being expensive legally, it would be a public relations nightmare.
So we may not get every single dime that's coming to us. But we will get large chunks of change. For example, we don't think large health care plans would risk patent piracy. The larger and richer the health plan, the harder it is to hide the fact that GenoMed's treatments are being pirated, and the higher the punitive damages the plan would face in court. If a health plan suddenly starts advertising that it can prevent dialysis, it will be obvious whether it has stolen GenoMed's IP.
A second reason why our IP will be safe is the "franchise" model we've developed for physicians participating in our Clinical Outcomes Improvement Network(tm). There is a strong financial incentive for a practicing physician to join our COIN(tm), since s/he would earn an extra $200 per patient per year by doing so. For a typical physician with a patient panel of 3,000, of whom perhaps 2,000 have hypertension or diabetes, this amounts to an extra $400,000 a year. In other words, collaborating with GenoMed could double or even triple a physician's salary in a completely legal way."
Dave Moskowitz MD
Chief Medical & Executive Officer
GenoMed, Inc.
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