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Post by vdexdiabetes on Dec 28, 2017 13:11:25 GMT -5
At the risk of opening the kimono too much, let me say that Vdex is NOT set up as a charity or a vehicle to pump up the stock price of MNKD, but is very much a profit-making endeavor. We believe, in fact, we have proven, that our model will be quite profitable. That said, our first concern when we organized the company was an evaluation of Afrezza and the design of protocols to best use the product. We've learned a ton. Afrezza is every bit as good as Al Mann said it was, and actually a little better (I'll leave details on that point for a later post). We have played with different protocols and have developed our own after some trial and error. Suffice to say, we are highly confident about improving blood sugar control with virtually every diabetic. That's not to say we're so wonderful, but rather because Afrezza is. What Vdex contributes are protocols for the best way to use Afrezza.
It has been mentioned before but bears repeating, Afrezza is not the easiest product to use correctly. There is a learning curve. We know; we traveled it. But the effort is clearly worth it. There is simply no better way to manage blood sugar, in our opinion, than with Afrezza.
Like all new endeavors, Vdex has had its share of bumps. We have been resolute in our approach because its quite clear that something has to change in the treatment of diabetes. Our goal is to make that change happen. We are now at a point where we can begin our expansion in earnest. I don't want to set false expectations, but we do not intend to merely operate a few centers in Southern California. Our sights are set considerably higher. We know there will be challenges and that we will make mistakes. That's entrepreneurship. We don't fear that; we embrace it.
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Post by vdexdiabetes on Dec 22, 2017 13:34:26 GMT -5
Interesting question dreamboat. I've discussed this with some docs and they feel Afrezza has the added element of rapid on-off that RAAs paradoxically don't have, and that that makes it more difficult to learn. I don't have a strong opinion. I do think because docs fear injected insulin so much, they put a lot of time into teaching after trying to stave off the use of insulin for years.
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Post by vdexdiabetes on Dec 22, 2017 12:06:19 GMT -5
Tiberious, I agree that a lower price may help insurance companies and doctors get more interested in Afrezza but I have another concern: the drop rate. While the exact rate that patients drop the use of Afrezza is unclear, it looks to be well above 50%. If more docs prescribe, I suspect it'll go even higher. Afrezza is so unique that a doc can't simply prescribe the product and leave it to the patient. There are lots of little ways patients can screw it up. Now, that's not to say that it'll harm them if they misuse, but rather they will fail to see the advantages and drop because "it didn't work for me." We have heard this many times and it is a classic sign of misuse. Afrezza works, period. It's a fantastic tool...but it needs to be used right. As I like to say, if you give someone a shovel and they try to dig with the wrong end, it won't work well. You've got to use the tool correctly.
We've developed the metaphor of learning to ride a bike to describe the process of getting patients on Afrezza. You cannot simply give a kid a bike and let them go ride. They'll never learn, or it'll take a long time. Theres a hand-holding with the kid. After a certain point, the kid gains confidence, learns to balance on his own, and rides off never to need help again. It's the same with Afrezza. This is where there's a huge problem.
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Post by vdexdiabetes on Dec 21, 2017 13:09:39 GMT -5
I think the idea of lowering the price of Afrezza is good on one level: it'll get the attention of the payers. Clearly, these people look at the short term issues such as price. Afrezza's long term advantages are unknown to most payers and providers since they think it is comparable to injected prandial insulins. The label certainly doesn't help in this regard either. So, not a bad idea IMO.
But, from my perspective, the big issue here is physician interest. If docs like and use a product, it'll get covered in time, I'd expect, even if more expensive. I think the incentives for physician acceptance and use of Afrezza are all aligned in the wrong direction. We at Vdex see this daily. Docs don't want to use it even when they think it would be advantageous to their patients. They say almost unanimously "I don't have the time." That may seem odd since most would expect docs to use the best therapy available for their patients, and most docs would say they are in fact doing that. But the issue is more complicated than that.
Afrezza is such a different product that it's going to take time for the docs to come around. As more data gets published, the advantages will become clearer. Docs will consider Afrezza more. Then they'll learn how to prescribe and keep patients on (no small task). I think it'll happen.
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Post by vdexdiabetes on Dec 8, 2017 20:09:13 GMT -5
thanks, will do. Maybe be a bit spotty, but we'll be back
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Post by vdexdiabetes on Dec 8, 2017 20:02:20 GMT -5
Thanks Sportsrancho for posting that. We're ironing out some kinks with the website, and creating a more robust platform by which to promote what we're doing. We've been busy and there's been very good feedback on the basic business and treatment model.
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Post by vdexdiabetes on Dec 21, 2016 13:16:18 GMT -5
Hello Proboards! We at Vdex want to say “Thank You” for all the well wishes over the past year or so as we’ve been getting started. As most of you know, we have opened our first facility in Canoga Park, CA. Things are progressing nicely there. We have aggressive expansion plans, but all those plans ultimately are subordinate to quality patient care. We want to get that right first.
We have a lot planned for 2017. Inevitably, things will alter our course somewhat, but our essential mission will stay unchanged: we intend to dramatically improve the care for all people with diabetes. Our view of diabetes treatment was that it was substandard, and that was what led to the creation of the company. Every day we have new ideas for how we can improve things. We are blessed with a team of people who are passionate about making a difference in the world, and who are unencumbered by “the traditional way of doing things.”
We are happy to share our thoughts occasionally on the relevant topics on this board. Perhaps our perspective may be helpful to you. We look forward to contributing. Thank you again for all your support.
Bill
Vdex CEO
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