Actually, it does not matter whether the patients have dementia or not. Just look at the aged care sector. Not all residents have dementia. Yet, PainChek charges for all beds. Why? Because it is cheaper to just use PainChek as the only digital pain management and record system. And that is why the company always refer to market size in terms of number of beds, not number of dementia patients in a facility.
The same applies to hospital settings. It does not matter if a patient has dementia or not. No point keeping pen and paper record for some patients and digital for others. Most modern hospital settings have gone total digital recording of patients. In addition, hospital also deal with day patients. So it would be more than just the number of beds. And that is why PD has stated that hospital settings, usage will be high and different, therefore a different pricing system will be applied.
And for patients presenting with pain, the doctors can now ensure that the patient is truly in pain and not just trying to get hold of painkillers that they are addicted to.
At end of day, PainChek Universal is an evolution of the current pain assessment systems. Instead of pen and paper, it is digital. It is simple to use and keeps accurate records. It saves time so that carer can spend more time on the more important caring work.
And have I mentioned that PainChek Universal is a monopoly?
And if anyone think the above is exciting, then may I draw your attention to the upcoming PainChek Infant to be released in due course.
So really, PCK has not even scratch the surface yet when it comes to potential revenue size. It will come a point where the revenue of today will be considered loose change found in the back of one of PD's office couch
For now, PCK need to get that FDA approval. That is probably the biggest hurdle for any medical company to overcome. Once successful, there will be no more looking back. I am still seeing 2025 as the year of PCK. By then, if all goes according to plan, PCK would have FDA approval plus the aged care, home care, hospital and the infant markets would all be in play.
Good luck all and DYOR.
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