I just googled how many general practioners in Canada and got approximately 40,000. Imo, these doctors should be the target group for Mdx and I believe they are. These doctors should be performing a once a year visual body exam and using Siascopy to scan and send in any suspicious moles, etc.
The Mdx news releases talked about partnership with Empower/Medi-Collective, which is good, but Mdx needs to contact and visit all family doctors.
Assuming, on average 4 doctors working together in one practice, that becomes a potential sale of 10,000 devices, just in Canada. If USA is 10x the size, that could be 100,000 devices sold there.
So, it's disappointing to read about 158 units estimated to be sold in Q1. Why such a small amount???
I can understand Covid still limiting sales due to minimal physical contact by sales people, and also fewer visits by patients. I can absolutely understand that, but I'm just not convinced that Mdx's siascopy would be hitting the numbers I mentioned above if there was no Covid, and really, they should be seeing higher sales.
Second part that needs addressing by Mdx is to get this class 2 medical device and all patient costs covered by Ohip (Ontario). I talked about the Getskinhelp app earlier. I signed up and submitted some photos to try it out. It worked fairly well. Just waiting for step 2 which is supposed to be a video meeting with a doctor. Point is, my understanding is that all costs are covered by Ohip. Mdx, with a class 2 device, should also be able to achieve this as well.
I see the potential which is why I'm still invested, hope to see execution ramp up.