In 2003, Elizabeth Holmes founded Theranos, a private medical-laboratory-service company whose mission is to “make actionable information accessible to everyone at the time it matters”. In order for Theranos to stay true to its key value propositions, the company had to align its propositions; 1) quicker results 2) cheaper and better results and 3) eliminating the lucy-sienna-2954 - ALS320 F16 S2 - A2D1. Page 1 of 5 middleman with three important points of a business model; 1) satisfy an unmet clinical need 2) satisfy an unmet business need and to 3) “disrupt” the market; respectively. However, as of 2016,
Theranos has unsuccessfully met its value propositions, which brings us to the company’s current net worth; almost zero.
Theranos seemed to satisfy an unmet clinical need by refining a …show more content…
In 2003, the price seemed to be the best value proposition but in 2014 it wasn’t anymore because the Centers for Mediccare & lucy-sienna-2954 - ALS320 F16 S2 - A2D1. Page 2 of 5
Medicad Services (CMS) found numerous deficiencies in Theranos’s testing such as tests falling outside the normal range (5). In March 2009, a study investigated people’s fear of needles in a southeast Queensland community and only twenty-two people reported fear of needle. The only way to get over this fear is through graded exposure and when it comes time to do a surgery, if people are still afraid of needles, they can suffer psychological side effects. Theranos’s tests might have been cheap but it doesn’t cover for the inaccurate test results. By 2014, a third of
Theranos’s tests required more than a prick of blood so clearly this value proposition did not hold. Theranos attempted to “disrupt” the market by making it possible for someone to not have to go through a central laboratory to obtain test results. Theranos’s prides itself for
Theranos has unsuccessfully met its value propositions, which brings us to the company’s current net worth; almost zero.
Theranos seemed to satisfy an unmet clinical need by refining a …show more content…
In 2003, the price seemed to be the best value proposition but in 2014 it wasn’t anymore because the Centers for Mediccare & lucy-sienna-2954 - ALS320 F16 S2 - A2D1. Page 2 of 5
Medicad Services (CMS) found numerous deficiencies in Theranos’s testing such as tests falling outside the normal range (5). In March 2009, a study investigated people’s fear of needles in a southeast Queensland community and only twenty-two people reported fear of needle. The only way to get over this fear is through graded exposure and when it comes time to do a surgery, if people are still afraid of needles, they can suffer psychological side effects. Theranos’s tests might have been cheap but it doesn’t cover for the inaccurate test results. By 2014, a third of
Theranos’s tests required more than a prick of blood so clearly this value proposition did not hold. Theranos attempted to “disrupt” the market by making it possible for someone to not have to go through a central laboratory to obtain test results. Theranos’s prides itself for