Qualgenix delivers high-quality healthcare solutions at great prices, so the savings can be passed on to the end user – the US healthcare system.
The US healthcare system is the most expensive in the world, costing more than $8,000 per person per year and expected to grow to 20% of gross domestic product by 2020.1 Our system is straining to meet current needs, let alone demands for better care, for more people.
Generic pharmaceuticals save billions
Generic pharmaceuticals have had a beneficial impact on the US healthcare system. Substituting for regular name-brand, on-patent drugs, generic pharmaceuticals have saved the system more than $1 trillion in the last 10 years. Once the patent for a drug expires, high-quality but lower-priced generic versions of the drug can be provided to the public through a process regulated by the Food and Drug Administration.
Many key medical device patents have expired
It’s almost a secret that the same generic concept applies to medical devices. For example, the patents protecting the designs of standard metal screws, plates and rods for spinal fusion surgery expired long ago. Yet, the price for a single off-patent medical-grade screw remains at its on-patent average: more than $800.
Medical device prices have not fallen accordingly
Buying a complete set of standard instruments for standard lumbar fusion surgery – performed hourly in the USA – costs a hospital $8,000 to $16,000. A significant share of standard lumbar fusion surgeries use screws, plates, implants and rods that are entirely standard designs. All these designs are off-patent, yet high on-patent pricing persists!
Prescription drugs and consumer goods from televisions to cars face steep price declines once their patents expire. But not medical devices.
At least, until now.
Qualgenix – high-quality, low-cost, standard-of-care healthcare solutions
Qualgenix’s primary goal is to supply the highest-quality devices and imaging agents to the US healthcare system at prices significantly lower than on-patent equivalents. Our devices and agents are time-tested products and designs whose patents have expired – and thus can be made available much more inexpensively.
What about quality? Generic drug manufacturers have an FDA-regulated pathway to bring their products to market. Similarly, Qualgenix’s high-quality products are approved and regulated through the FDA.
By cutting the cost of standard devices and agents, Qualgenix expects to make high-demand, high-cost medical procedures more affordable and available to all. We’re focusing on areas that our partners and customers have told us urgently need change: spine implants, orthopedic implants and imaging contrast agents.