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by Rssnkgp02
1752 days ago
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Cool. I would recommend emailing a doctor in that specialty and asking them if seems like a good idea. Or alternatively, you could ask a bunch of patients to determine need for it based on their experiences. If it is something in pain management, I may be able to help. |
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I've already validated that the idea would be useful. There's a potential annual patient population of around 7 million people in the US. Even at 10% adoption, that could be revenue of $100-200M with a conservative guesstimate profit margin of 10-20% at that level (variable costs are low, so that should be higher as it scales). Current price of testing is high enough that I think this device could fit into that range or under cut it, with a multifaceted improvement to patient experience. A brief search turned up no competitors.
Now I'm trying to decide if I should spend the money to build a prototype and file a provisional patent or not. It depends on exactly how expensive and lengthy the approval process is, how HIPPA might or might not apply, etc. The type of software it will require will also be a challenge for me since I've never made anything like this.