An ambitious healthcare start-up is developing an instant diagnostic tool for cancer and pre-cancer that enables rapid point-of-case screening of cancerous biopsies and reveals subtle differences between healthy and diseased samples within seconds. The co-founders were in need of professional assistance to estimate the potential impact of their patent-pending technology on the UK healthcare system and were recommended to contact First Step Consulting by one of our former clients.
This novel technology has a potential not only to save the lives of hundreds of patients but also to mitigate costs and reduce waiting time. Yet it was difficult for the founders to precisely assess how much money and time could be saved with their product. The founders of this company, who are researchers with limited experience in health economics, realised that they would be better off should they cooperate with one of our consulting teams.
Following a kick-off meeting, we decided to commission a consultancy project and our team immediately started to collate secondary data on endoscopy procedures and histopathological analysis of biopsies obtained during endoscopies. We built an understanding of the clinical pathway for oesophageal cancer diagnosis within the UK National Health Service and supplemented this data with primary research, thanks to the support of several medical experts. Later we thoroughly analysed the primary and secondary data gathered and developed a model based on over 25 data parameters.
This enabled us to forecast the potential cost saving that could be achieved with the introduction of our client’s product in the next three years. It has been concluded that the number of samples requiring further analysis by lengthy and expensive histology could be halved with the implementation of this technology.
The client told us that they were happy with the results and that our team was committed and professional throughout the process. We have recently completed a second project with a particular focus on bowel cancer this time.
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