Theranos is now being offered in selected Walgreens in Phoenix AZ., and Palo Alto CA. Many physicians and healthcare providers may need time to become comfortable with the idea of blood testing at this level of sophistication. However, over time, the revolution will take place before our eyes and taking large volumes of blood for testing will be history. In addition, Theranos is committed to making the process very cost effective for the consumer. They accept every major insurance carrier including Medicaid and Medicare. Furthermore, for uninsured patients, Theranos will simply charge a discounted rate to make it affordable for everyone regardless of who you are. Each test costs less than 50% of the current reimbursement rate that Medicare and Medicaid provides. An example of the cost savings is Theranos charging $35 for a blood fertility test, which is usually paid out of pocket, and costs up to $2000. The faster turn-around time for test results can help with faster diagnoses, thus, more effective treatment. About 80% of clinical decisions are derived from blood tests. Pharmacists may begin partnering with Theranos in community pharmacies. With the passing of SB493, pharmacists are now able to order laboratory tests and get reimbursed for it. In addition, community pharmacies can take advantage of this opportunity by providing space to Theranos labs in their pharmacies and generating business from the patients through prescriptions and over-the-counter sales. Over time, clinical laboratories as we know it will begin to struggle from the decrease in patients.
1. http://www.businessinsider.com/theranos-founder-elizabeth-holmes-is-a-billionaire-2014-9. Accessed October 6, 2014.
2. http://fortune.com/2014/06/12/theranos-blood-holmes/. Accessed October 6, 2014.
3. http://www.theranos.com/. Accessed October 6, 2014.
4. http://www.usatoday.com/story/tech/2014/07/08/change-agents-elizabeth-holmes-theranos-blood-testing-revolution/12183437/. Accessed October 6, 2014.
Posted By Parisa Karimi, PharmD Candidate 2015