Economic Value to the Customer (EVC) - Pharmalodiagnosticon
The scientists at Pharmalodiagnosticon, an up and coming pharmaceutical company, have had a major breakthrough in painkillers and hope to replace frequent use of headache medicine by patients with severe recurring headaches.
The average target consumer spends $50 for an office visit to get an initial prescription from a doctor appointment and $40 a month for the drug and around $5 a month in other medicines to curb side effects. However, Pharmalodiagnosticon offers a single injection of Diacetylin (a dilute, slowly metabolized, derivative of diacetylmorphine) that guarantees no headaches for three months.
Pharmalodiagnosticon plans on making the medication available at $35 per injection (patient price). It will cost the patient $70 to have the process done (i.e., an office visit and required blood test, but not the price of Diacetylin -- treatment typically begins on the first visit) and about $15 a month in other medicine to curb side effects.
- What is the EVC for a single patient for 1 year?
- Does this suggest that the planned price for the software is too high or low?"