Theranos Opportunity vs. Near Term Patient Care

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Anonymous

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For obvious reasons, Theranos has quickly become the proverbial elephant in the room among lab professionals. As Theranos may be exclusively recruiting people with expired non-compete agreements, many have chosen to leave their current positions, allowing their non-competes to expire while preparing to join the ranks at Theranos. Many others are unfortunately considering the same. To deter this trend, it has been suggested we must foster the idea that Theranos is somehow not going to successfully commercialize their patented technology. Given the overwhleming amount of evidence available, we feel this approach will be viewed as inheritantly dishonest and ultimately falls short in achieving our goal of manageable employee turnover thoroughout our organizations. Instead, we offer a much more convincing and noble reason not to chase the Theranos opportunity at this time…patient care. While we can clearly recognize a paradigm shifting when we see one coming, none of us can accurately predict when Theranos will finally roll out nationally! Some industry analysts believe it may be as long as five years. Before you decide to jump ship and chase the almightly dolllar, PLEASE consider the impact widespread turnover would have to our operational stability and ultimately…patient care. To those who choose to stay…Thank You.
 






Anonymous said:
For obvious reasons, Theranos has quickly become the proverbial elephant in the room among lab professionals. As Theranos may be exclusively recruiting people with expired non-compete agreements, many have chosen to leave their current positions, allowing their non-competes to expire while preparing to join the ranks at Theranos. Many others are unfortunately considering the same. To deter this trend, it has been suggested we must foster the idea that Theranos is somehow not going to successfully commercialize their patented technology. Given the overwhleming amount of evidence available, we feel this approach will be viewed as inheritantly dishonest and ultimately falls short in achieving our goal of manageable employee turnover thoroughout our organizations. Instead, we offer a much more convincing and noble reason not to chase the Theranos opportunity at this time…patient care. While we can clearly recognize a paradigm shifting when we see one coming, none of us can accurately predict when Theranos will finally roll out nationally! Some industry analysts believe it may be as long as five years. Before you decide to jump ship and chase the almightly dolllar, PLEASE consider the impact widespread turnover would have to our operational stability and ultimately…patient care. To those who choose to stay…Thank You.
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Are you implying that LabCorp cares about patient care? From what I have seen all labcorp cares about is their bottom line... Period... Have not seen much evidence to the contrary. Testing is great and top notch but everything is run by the bottom line
 






Anonymous said:
Are you implying that LabCorp cares about patient care? From what I have seen all labcorp cares about is their bottom line... Period... Have not seen much evidence to the contrary. Testing is great and top notch but everything is run by the bottom line
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Theranos will be small enough and nimble to care about patients for a while.. Unless they are bought by quest or labcorp.
 






Anonymous said:
For obvious reasons, Theranos has quickly become the proverbial elephant in the room among lab professionals. As Theranos may be exclusively recruiting people with expired non-compete agreements, many have chosen to leave their current positions, allowing their non-competes to expire while preparing to join the ranks at Theranos. Many others are unfortunately considering the same. To deter this trend, it has been suggested we must foster the idea that Theranos is somehow not going to successfully commercialize their patented technology. Given the overwhleming amount of evidence available, we feel this approach will be viewed as inheritantly dishonest and ultimately falls short in achieving our goal of manageable employee turnover thoroughout our organizations. Instead, we offer a much more convincing and noble reason not to chase the Theranos opportunity at this time…patient care. While we can clearly recognize a paradigm shifting when we see one coming, none of us can accurately predict when Theranos will finally roll out nationally! Some industry analysts believe it may be as long as five years. Before you decide to jump ship and chase the almightly dolllar, PLEASE consider the impact widespread turnover would have to our operational stability and ultimately…patient care. To those who choose to stay…Thank You.
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The only patient I care about is me. I follow the money and don't give a rats ass about anything else!
 
























Anonymous said:
For obvious reasons, Theranos has quickly become the proverbial elephant in the room among lab professionals. As Theranos may be exclusively recruiting people with expired non-compete agreements, many have chosen to leave their current positions, allowing their non-competes to expire while preparing to join the ranks at Theranos. Many others are unfortunately considering the same. To deter this trend, it has been suggested we must foster the idea that Theranos is somehow not going to successfully commercialize their patented technology. Given the overwhleming amount of evidence available, we feel this approach will be viewed as inheritantly dishonest and ultimately falls short in achieving our goal of manageable employee turnover thoroughout our organizations. Instead, we offer a much more convincing and noble reason not to chase the Theranos opportunity at this time…patient care. While we can clearly recognize a paradigm shifting when we see one coming, none of us can accurately predict when Theranos will finally roll out nationally! Some industry analysts believe it may be as long as five years. Before you decide to jump ship and chase the almightly dolllar, PLEASE consider the impact widespread turnover would have to our operational stability and ultimately…patient care. To those who choose to stay…Thank You.
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Nice try! Theranos is not the elephant in the room. It is the elephant crap in the room.
 






Anonymous said:
Nice try! Theranos is not the elephant in the room. It is the elephant crap in the room.
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All this chatter seems like a transparent effort to generate buzz about the company. I'd bet that the vulture capitalists are feeling a little worried about their investment. That crazy $9 billion market cap for something that's still mostly vaporware is just nuts. All that money for what? That's just a couple of billion less than Quest and Labcorp. But I have yet to meet a physician who's sent a single patient there. I'm in the northwest, so maybe it's different somewhere else.
 
























Anonymous said:
I do know of two people hired in Phoenix...and they are looking to hire on the east coast next.
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It was only a matter of time where a lab like this went up against Quest and Labcorp. Labcorp's IT system and way of thinking is so archaic and Quest's management is such a mess right now.. This new lab with the founder and CEO from Stanford's MBA program, will be a serious threat in years to come. Labcorp and Quest have deep pockets but Theranos can offer such low costs to insurers and patients that it really will be a game changer sooner or later. With Obama care and medical costs continuing to rise, it was bound to happen.

Stanford grads always find more efficient, with the times, and an overall better way of doing things. The most recent example is UBER. i would say that is a game changer to the taxi services.
 






Anonymous said:
It was only a matter of time where a lab like this went up against Quest and Labcorp. Labcorp's IT system and way of thinking is so archaic and Quest's management is such a mess right now.. This new lab with the founder and CEO from Stanford's MBA program, will be a serious threat in years to come. Labcorp and Quest have deep pockets but Theranos can offer such low costs to insurers and patients that it really will be a game changer sooner or later. With Obama care and medical costs continuing to rise, it was bound to happen.

Stanford grads always find more efficient, with the times, and an overall better way of doing things. The most recent example is UBER. i would say that is a game changer to the taxi services.
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Unfortunately for Theranos, their business model has been revealed as smoke and mirrors. A lot of unwanted press in the past few months. Great investigative piece on them in last month's Laboratory Economics (subscription only, but LabCorp's got an account) that follows up on the details in a recent New Yorker article: http://www.newyorker.com/magazine/2014/12/15/blood-simpler

Theranos can only spend so much time selling themselves as the "future" of lab testing before folks demand they make good on their promises...
 


















Anonymous said:
Unfortunately for Theranos, their business model has been revealed as smoke and mirrors. A lot of unwanted press in the past few months. Great investigative piece on them in last month's Laboratory Economics (subscription only, but LabCorp's got an account) that follows up on the details in a recent New Yorker article: http://www.newyorker.com/magazine/2014/12/15/blood-simpler

Theranos can only spend so much time selling themselves as the "future" of lab testing before folks demand they make good on their promises...
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Labcorp and quest have turned lab testing into the fast food, mass production market. These two companies make promises and under deliver all the time.

the economics of the company looks pretty good to the consumer and the health care costs as a whole. $50 for a lipid panel that the two giant labs charge and theranos charges $2.90 for the same test. clearly, when you are small and entering a market that is dominated by 2 giant labs, you're not going to reveal what your medical device and method of testing so these labs can rip them off and squash them. Did David Thomas reveal his secret chili recipe?

i don't think it is smoke and mirrors at all, sounds like sour grapes to me. This lady is smart and knows there is a demand there and she is creating more demand by dangling the carrot and low prices. it will make good on the promises in time
 






Anonymous said:
Labcorp and quest have turned lab testing into the fast food, mass production market. These two companies make promises and under deliver all the time.

the economics of the company looks pretty good to the consumer and the health care costs as a whole. $50 for a lipid panel that the two giant labs charge and theranos charges $2.90 for the same test. clearly, when you are small and entering a market that is dominated by 2 giant labs, you're not going to reveal what your medical device and method of testing so these labs can rip them off and squash them. Did David Thomas reveal his secret chili recipe?

i don't think it is smoke and mirrors at all, sounds like sour grapes to me. This lady is smart and knows there is a demand there and she is creating more demand by dangling the carrot and low prices. it will make good on the promises in time
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How much you charge for a test is irrelevant. Ask someone in billing how much UHC pays for a lipid panel, son. Until you get your facts straight, stay off this board. This is a pace for clinical laboratory professionals at Labcorp.
 






Anonymous said:
How much you charge for a test is irrelevant. Ask someone in billing how much UHC pays for a lipid panel, son. Until you get your facts straight, stay off this board. This is a pace for clinical laboratory professionals at Labcorp.
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I know it isn't $2.90. I also know it is cheaper for the patient in most cases versus paying their copay/co insurance.
 












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