Innovating the way blood tests are performed has earned Elizabeth Holmes billions, Business Insider reports.
Normally, blood tests are “done in hospitals and doctors' offices. Vials of blood have to be sent out and tested, which can take weeks using traditional methods and is prone to human error.”
Her company, Theranos, created blood tests that can be performed without a doctor present. The tests only require a small amount of blood and the sample can be used for multiple tests. Results are ready in as little as four hours. Patients are also able to access their own test results.
The tests cost “less than 50% of standard Medicare and Medicaid reimbursement rates”—Holmes claims, “they'd save $202 billion over the next decade.” Patients are also able to access their own test results.
As of right now, Theranos testing stations will be appearing at Walgreens across the nation.
Summary by Medicalgroups.com
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