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QMS
  • Welcome to your QMS
  • Quality Manual
  • Procedures
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  • Legit.Health Plus Version 1.1.0.0
  • Legit.Health Plus Version 1.1.0.1
  • Licenses and accreditations
  • Applicable Standards and Regulations
  • Grants
  • Pricing
    • Methodology
    • Initial analysis
      • Value-based pricing
        • Resources
        • INSTRUCTIONS
        • Output
      • Cost-based pricing
      • Output
    • Objections
    • Final analysis
  • Public tenders
  • Pricing
  • Initial analysis
  • Value-based pricing
  • INSTRUCTIONS

INSTRUCTIONS

I am the manufacturer of a medical device used in hospitals, called Legit.Health. This device receives images taken with a smartphone and outputs the condition present in the image, the likelihood of it being malignant and the severity (degree of involvement) of the condition. I want to price my device based on the value it provides to healthcare systems in Spain.

In the document apps/qms/docs/pricing/initial-analysis/value-based-pricing/resources/healthcare-cost-in-valencia.mdx, you will find the costs of various medical procedures in the Valencia region of Spain.

In the document apps/qms/docs/pricing/initial-analysis/value-based-pricing/resources/clinical-benefits.mdx, you will find key performance indicators (KPIs) of my medical device compared to the state of the art.

Using the information from both documents, help me determine a pricing strategy for my medical device that reflects the cost savings and improved patient management it offers to healthcare systems in Spain.

  • The money saved by the healthcare system due to the device can be a basis for pricing the device, in such a way that the price is a fraction of the savings generated. For instance, early diagnosis of skin cancer makes it so that
  • Other improvements, such as decreasing the waiting lists (reducing the number of days patients have to wait to receive a consultation)
  • Benchmark against other procedures. For example, "Analítica básica" has a price of 15.00 €, and "Radiografía simple" has a price of 25.00 €. The medical device Legit.Health processes images and outputs diagnostic information, which is similar to these diagnostic procedures.

The key things to keep in mind are:

  • The medical device increases the number of patients that can be managed by the primary care clinician, instead of dermatologists, by 49.00%. The cost of "Primera Consulta Dermatología" is 74.00 €, while the cost of "Consulta médica de atención primaria en el centro en horario ordinario, primera consulta" is 56.95 €. This means that by using the device, there is a reduction in costs for the healthcare system of $74.00 € - 56.95 € = 17.05 € per patient managed by primary care instead of dermatology.
  • The device also increases the number of patients that can be managed remotely, and since remote consultations are generally less costly than in-person consultations, this means a decrease in costs for the healthcare system.
  • In regards to the early diagnosis of conditions like skin cancer, the device can potentially reduce the need for more expensive procedures like "Intervención quirúrgica media" (1,200.00 €) or "Intervención quirúrgica mayor" (2,500.00 €) by catching conditions earlier when they are less severe and easier to treat, needing only minor procedures like Cirugía menor ambulatoria 120.00 € or Biopsia cutánea 95.00 €.
  • The cost savings from reducing the number of days patients have to wait for consultations by 84.37% can also be factored into the pricing strategy. However, here it's not an issue of saving costs per se, but rather improving patient outcomes and satisfaction, which can translate into long-term savings for the healthcare system. Furthermore, I'm aware that hospitals have some sort of SLA (service level agreement) to meet regarding waiting times, so reducing waiting times significantly can help hospitals avoid penalties or additional costs associated with failing to meet these SLAs.

Search the internet as much as you can to find relevant information to help me determine a pricing strategy for my medical device based on the value it provides to healthcare systems in Spain. You can also find what Google Gemini came up with: apps/qms/docs/pricing/initial-analysis/value-based-pricing/resources/geminis-investigation.mdx and what ChatGPT 5 came up with: apps/qms/docs/pricing/initial-analysis/value-based-pricing/resources/chatgpt5-investigation.mdx.

Your outcome should be a markdown document that outlines a clear pricing strategy for my medical device, including justifications based on cost savings, improved patient management, and comparisons to existing medical procedures in Spain. Include formulas or calculations followed, using katex (like this: E=mc2E=mc^2E=mc2) where applicable to illustrate how you arrived at the pricing strategy.

The price of the Legit.Health medical device can be offered in two ways:

  • By Diagnostic Report: which means processing an image, and outputting a diagnostic report with the condition present in the image, the likelihood of it being malignant and the severity (degree of involvement) of the condition.
  • By patient (per capita): which means charging a fixed fee per patient managed using the device, regardless of the number of images processed.

For both modalities, I want the maximum price possible that is still justifiable based on the value provided to the healthcare system.

Your output should be written into apps/qms/docs/pricing/initial-analysis/value-based-pricing/output.mdx.

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All the information contained in this QMS is confidential. The recipient agrees not to transmit or reproduce the information, neither by himself nor by third parties, through whichever means, without obtaining the prior written permission of Legit.Health (AI LABS GROUP S.L.)