Summary of Potential Issues
In summary, while NCCN guidelines and NAPBC accreditation provide important validation for SOZO, several barriers to entry are slowing its sales. These include:
- Slow adoption due to conservative healthcare practices and resistance to change. original goal number 1.
- Insurance and reimbursement issues, including the need for broader coverage and higher reimbursement rates.
- Not far from full coverage probably in Q425 for national payers.
- Upfront costs that hospitals may be reluctant to pay.
- payments are estimated at $175 per test and can also claim for therapist, 20 patients a month is making money and would recover purchase cost in the first month or second month. SaaS model means profit making for facilities instead out going cost which is normal for the SaaS businesses.
- Lack of awareness in the healthcare community about SOZO’s clinical benefits. original goal number 1. Its the only FDA approved test that picks up BCLR at the sub clinical stage.
- Competition from established technologies in the market. There is none that produces income, any competitor would have the same issues IPD are having for new tec.
- Need for further clinical evidence and data to prove efficacy and cost-effectiveness. original goal number 1. Published in major guidelines.
- Integration challenges into existing workflows. Part of the installation process addressed by the sales team.
For SOZO to succeed, Impedimed may need to focus on educating the market, increasing sales efforts, ensuring broader insurance coverage, and providing more clinical evidence to demonstrate its value to healthcare providers.
All of the items mentioned in bold in the paragraph above are happening and clinical evidence has been adopted.
Embrace the better way.
In the meantime, accumulate. Wyckoff.
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