% | $
Quotes you view appear here for quick access.

Genetic Technologies Limited Message Board

  • jt.jones91 jt.jones91 Jul 18, 2011 9:42 AM Flag

    Brevagen will not succeed.

    This is a risk screening not a diagnostic. It is not accepted technology thus the medical community has not put their stamp of approval on this. The results will be meaningless unless you have a catch basin of surgeons willing to agree that the results mean something and will then monitor those patients more extensively. Also you have to get buyin from Insurance companies that the results mean something so they will pay for and MRI (if patient is under 40), pay for lifestyle changes (quit smoking) eat bette (many insurance companies pay for classes to support these efforts) or pharmaceutical interventions. There has been no ground work for insurance companies to cover any of this. Surgeons barely know about it and if they do they know it from 2008 with the prior failed launch. The current sales group as no relationships with surgeons. They lead in the US has zero surgeon relationships.

    Lastly the patient has to be convinced by the OBGYN at the time of their annual exam to pay $200+ for a test that has no prospective studies showing that the mortality rate of cancer is reduced when the results of this test are used in combo with other interventions. OBGYN don't have time to convince a patient to pay for this test, they barely have time to see the patient for the 5 minutes they are allowed to bill that patients.

    Patients are coming into their OBGYN's less often now more than ever. Paps in some states are paid for once every 3 years not 1. So a doc might not see that patent for 3 years. Do you think they are going to spend 30 minutes on Brevagen. I think not. The OBGYN is one of the busiest docs since they act like a primary care doctor. They know little about breast cancer and won't have the time to educate a patient on a unproven test.

    The patients are not going to come in and ask for the test. That would need consumer advertising. That is money, money the company won't spend. But before you get the consumers asking for it you have to validate the results and have the surgeons to support those results. They don't have that. Lastly are the patients being informed that the "DNA," samples are being sent out of the county to the only lab in the world who can process these samples. Oh BTW GTG owns that lab thus their business model is to be paid on the lab part on the collection part. But how do you incentivize the docs who need to get paid on the collection part. They have not so no $$ for the doc no traction on the product. If they start today trying to get reimbursement for the collection side they are 5 years away from getting a CPT code for that, because it takes that long. They have no one in their camp than has that capability. They only person they have hired that has any prior experience with this was the director of marketing from DeCode and you saw what happened to DeCode, could the same happen here.

    Fail, smoke and mirrors once again.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • serenityloveh69 Sep 8, 2011 9:25 PM Flag

      I'll agree

    • "And this test is FDA aprroved and billable. Time? ,"

      Brevagen is not billable. It is on the lab side not the collection side where the rubber meets the road. With all the other test you mentioned the doc gets paid by the insurance companies using CPT codes to bill for time and materials used in the test. Not with Brevagen, the doc has to pay for the kits, then bill the customer at time of service for the kit, perform the test. The doc will make peanuts. With all the others the doc doesn't have to truly convince the patient of anything because all is covered by insurance unlike Breavagen.

    • brilliant summery...many of the reasons you listed are the reason i went short but there were several i wasnt aware of. this has got to be the most well thought our position that i have seen posted here thus far. im not just saying this because i share your opinion, but also because you state facts , many of which cant be proven wrong until the company does something to remedy these serious problems. the company is not stupid, they are aware of these problems, why not attempt to solve these problems or begin 2 years ago to solve these problems? because i believe they dont care. they dont care because they know with this product and cancer attached to it, it will be a perfect pump and dump. tool and they are fleecing investors. they never planned on selling many of these kits in the first place. thats my take and im convinced im correct.

1.56+0.03(+1.96%)Oct 21 3:59 PMEDT