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They should hire them instead. Maybe together they can cut production costs so this life saving equipment doesn't have to be sold for $11,000.
by kichik 7y ago
They should hire them instead. Maybe together they can cut production costs so this life saving equipment doesn't have to be sold for $11,000.
- Craighead 7y agoThats the whole point though
- rolph 7y agoi think they like it to cost $11,000 and do things to keep it fixed that way
- Turing_Machine 7y ago> life saving equipment doesn't have to be sold for $11,000. Production costs don't really enter into it. The actual breakdown is probably more like: Production costs: $25 FDA approval: $100 million dollars
- hourislate 7y agoToo bad you got junked. This was a major complaint from folks Peter Attia had on that trying to take a drug etc to market can cost hundreds of millions and years through the FDA process. It actually could have been David Sinclair that was saying that but I might be mistaken.
- Turing_Machine 7y agoYeah, for a supposed entrepreneurial web site, there sure are a lot of people here nowadays who don't understand basic economics. This site has turned into a tech-flavored subreddit of Think Progress.
- capableweb 7y agoI'm sure the cost of these valves are not in the production but in the research of coming up with the design to produce and other things before production. So they price in order to recoup already spent money and get some profit on it too. For sure it doesn't cost them 11k to make.
- ncmncm 7y agoValves are mature technology. The expense to develop it is negligible. The expense to push it through regulatory apparatus might not be. Most likely it is a trivial variation on an already approved design, varied solely for the purposes of obtaining a new patent, and of getting an exclusive requirement for it to be used on the machine. There is no defensible reason to presume good faith on the part of a medical equipment manufacturer, even though a few do have it.
- capableweb 7y ago> There is no defensible reason to presume good faith on the part of a medical equipment manufacturer, even though a few do have it. I agree and I also think it's incredibly shitty of a medical company to threaten to sue in these trying times. Really exposes what they are all about. I was just trying to see the coin from the other side, trying to understand.
- kichik 7y agoThen maybe they can help them setup a way to license the 3D model so hospitals can print it themselves, but still pay. Whatever the price components are, clearly some innovation is needed here if there are not enough of these in hospitals.
- jariel 7y ago"Maybe together they can cut production costs so this life saving equipment doesn't have to be sold for $11,000 It's not the unit cost, it's the R&D that's expensive. The $5000 screwdriver definitely is a thing, if you need 5 Engineers to design it but only ever make 5 of them, to be used on the Space Shuttle for example.
- Turing_Machine 7y agoFDA approval is a big, big line item too. For drugs, it's something like $2 billion up front before you sell a single pill. For medical devices it's not as much, but still can be in the tens to hundreds of millions.