Pax’s technology provides value to stakeholders including: patients, pharmaceuticals, doctors, payers, employers and the economy. Please find below a brief description of some of the key value propositions for each entity:
- Patients: Pax’s technology improves the quality of care and enhances patient outcomes, lowers costs and reduces the stigma of depression while improving compliance
- Pharmaceutical/Biotechnology companies: MoodMark assists in target identification and validation, mechanism determination and validation of a preclinical hypothesis. In clinical trials MoodMarkDx can improve trial design and trial data, demonstrate clear clinical impact, make better therapies, lower R&D costs, derisk investment in development of new drugs and boost the odds of FDA approval
- Physicians: Confirms clinical diagnosis and improves overall standard and quality of care
- Payers: Reduces healthcare spend on inaccurate diagnoses and ineffective drugs
- Employers: Screening for depression in work place can improve productivity and save money. Fewer layoffs of unproductive workers; fewer sick days; less disability awarded; etc.
- Health Care System: Lower cost of health care burden by 11%, or $9.6 billion; lower burden on social services; decrease unnecessary hospitalizations and high ER costs
- Social Services: Trim Social security disability, unemployment, Medicare and Medicaid costs and social impact