Wednesday, March 15, 2023

ChatGPT 4: Watch, As It Offers Advice to Genomic Lab CEO's

This blog discusses ways that ChatGPT 4 can provide initial overviews of customer problems in technology industries (example: genomic tests), and lay out a starting-point road map to solutions.


Brief History

I enjoy consulting with cutting-edge technologies, close to the "bleeding edge" - their "XYZ" has not been done before.  

The deal is, for better and for worse, my mindset often works like it did for Zoom and video:  Back when we were thrown into COVID world, I got intrigued with how video conference worked.  And pulling on that thread, I gradually got involved in lighting and cameras and mic's and green screens, and then video editing.   

Continuing my exploration phase with Chat GPT, which began a few weeks ago, I just saw an example of using ChatGPT to think about business design problems.  This led me to try a genomic testing example. Find both below.

The Input:  Peter Sena's Use-Case Article about Chat and Design

I ran across a new article by Peter Sena, a design expert.   He showed how he used ChatGPT queries, correctly constructed, to lay out roadmaps of customer insights - in his words, "85% correct."   Peter Sena's article is here:

Sena figured out how to use ChatGPT input like this:

Act like a marketing manager and create a customer avatar of an operations manager. Describe the customer avatar of an operations manager and what are their key pain points pertaining to shipping manifests, logistics, and jobs to be done. Format in a table.

The result looks like this.  (See full article above for more details and examples).

I could end this blog here, and say, "A person could probaby figure out some way to map this onto biotech or genomic testing."   But with a few minutes thought, I came up with an approach.

The Output: Playing with AI

Biotech CEO Example:

I am a strategic advisor to CEO's of biotechnology companies that develop genomic tests.  I have been asked to provide strategic advice to the CEO of a genomic test company that has just raised Series A funding of $10M.   The CEO is a new hire and is new to the genomic test industry, although he has worked in the life sciences medtech area for 15 years.  Provide me a table of the pain points the CEO is most likely to be worried about, and a brief description of how I may help him with each pain point.  I expect the table to have about 7 to 10 pain points and briefly describe ways to help that pain point using my years of experience working with many startup genomic test laboratories. 


Pain PointDescriptionHow I Can Help
1. Regulatory ComplianceNavigating complex regulations and certification requirements for genomic testsShare my experience in managing regulatory processes and suggest best practices
2. Market PenetrationEstablishing a foothold in the competitive genomic testing marketLeverage my network and knowledge of the industry to identify potential partnerships
3. Technology DevelopmentEnsuring the development of cutting-edge genomic tests that are both accurate and cost-effectiveOffer guidance on R&D investments and keeping up with emerging technologies
4. Reimbursement StrategiesSecuring favorable reimbursement rates from payers, such as insurance companiesAdvise on strategies to demonstrate the value of genomic tests to payers and providers
5. Sales & MarketingCreating and executing effective sales and marketing strategies for the company's productsProvide insights on targeting the right customer segments and crafting compelling messages
6. Intellectual Property ProtectionSafeguarding the company's proprietary technologies and know-howHelp develop a robust IP strategy to protect and maximize the value of the company's assets
7. Talent Acquisition & RetentionAttracting and retaining top talent in the competitive biotech spaceShare best practices for creating a positive company culture and competitive compensation
8. Supply Chain ManagementEnsuring a reliable and cost-effective supply chain for the company's products and servicesOffer advice on selecting and managing suppliers and optimizing inventory management
9. Quality ManagementMaintaining high quality standards in genomic testing processesSuggest quality management systems and processes based on my experience with other startups
10. Financial PlanningManaging the company's financial resources to ensure long-term successProvide guidance on budget allocation, fundraising strategies, and risk management

 Let's try one more example, push it a little further.

Please expand on Topic 4, Reimbursement Strategies.  

Please provide 5 to 10 aspects of this problem area, and examples of ways I can help with each.  Assume that both you and I are highly experienced consultants in the field of genomic test reimbursement strategies.

AspectDescriptionHow I Can Help
1. Payer NegotiationBuilding relationships with payers and negotiating favorable reimbursement ratesShare my experience in successful payer negotiations, helping the CEO understand their priorities and decision-making process
2. Clinical UtilityDemonstrating the clinical utility of the genomic test to justify reimbursementAdvise on the design and execution of clinical studies to generate strong evidence supporting the test's utility
3. Cost-EffectivenessShowcasing the cost-effectiveness of the genomic test in comparison to alternative diagnostic methodsHelp the CEO develop and present a solid cost-effectiveness analysis to payers and other stakeholders
4. Coding and BillingEnsuring accurate coding and billing practices for the genomic test to avoid reimbursement denialsOffer guidance on best practices for coding, billing, and documentation, leveraging my knowledge of payer requirements
5. Health Economics and Outcomes Research (HEOR)Conducting HEOR studies to support the value of the genomic test in real-world settingsProvide insights on the design of HEOR studies, including appropriate endpoints and methodologies for data collection
6. Market Access StrategyDeveloping a comprehensive market access strategy to optimize reimbursement and adoptionCollaborate with the CEO to create a tailored market access plan, accounting for the unique challenges and opportunities
7. Value PropositionCrafting a compelling value proposition for payers, healthcare providers, and patientsAssist in refining the company's messaging to clearly communicate the benefits and value of the genomic test
8. Reimbursement Landscape MonitoringKeeping abreast of the ever-changing reimbursement landscape and adapting strategies accordinglyLeverage my industry knowledge and connections to keep the CEO informed of relevant policy changes and market trends
9. Patient Access ProgramsImplementing patient access programs to provide the genomic test to patients with limited or no insurance coverageAdvise on the design and implementation of patient access programs that align with the company's goals and resources
10. Stakeholder EngagementEngaging key stakeholders, including healthcare providers, patient advocacy groups, and policymakers, to support reimbursement effortsShare my experience in building strong stakeholder relationships and coalitions to advocate for the genomic test's value
Tag:  "As highly experienced consultants in the field of genomic test reimbursement strategies, we can provide valuable insights and guidance to the CEO in addressing these aspects of the problem area. Our industry knowledge, network, and understanding of best practices can be leveraged to ensure successful reimbursement and market access for the company's genomic test."

I agree this is a very good listing of ten relevant considerations for reimbursement from insurance.   In addition, however, you have listed 10 factors that are pretty familiar to experts in the field. 

On the topic of reimbursement from insurance for genetic testing, can you offer any more creative or "out of the box" ideas for the CEO to consider?

I appreciate your feedback and understand the need for more creative and "out of the box" ideas. Here are five additional reimbursement considerations that may not be as familiar to experts in the field:

AspectDescriptionHow I Can Help
11. Data MonetizationExploring alternative revenue streams by monetizing the genomic data generated through testingAdvise on potential partnerships, data sharing agreements, or data marketplace opportunities to create additional revenue
12. Risk-Sharing AgreementsImplementing risk-sharing agreements with payers to align incentives and share the financial risk associated with genomic testingHelp the CEO develop and negotiate creative risk-sharing agreements that provide mutual benefits to both the company and payers
13. Personalized Reimbursement ApproachesDeveloping tailored reimbursement strategies that take into account patients' financial situations and insurance coverageExplore innovative pricing models, such as income-based pricing or tiered pricing, to ensure broader access to genomic tests
14. Direct-to-Consumer ModelsConsidering a direct-to-consumer (DTC) model that bypasses traditional healthcare providers and engages patients directlyAssess the feasibility of a DTC model and help the CEO navigate regulatory, marketing, and operational challenges
15. Collaborative Research InitiativesEngaging in collaborative research initiatives with academic institutions, healthcare providers, or other industry stakeholdersIdentify potential research collaborations that could yield additional evidence for reimbursement and foster strategic alliances

These creative approaches to reimbursement can help the CEO differentiate their genomic testing company and tap into novel opportunities within the industry. Combining these ideas with the initial ten reimbursement considerations will provide a comprehensive and innovative strategy for securing insurance coverage for the genomic tests.

Bonus:  Offer me some Tweets to advertise these services to this audience.
  • "Navigating the genomic testing landscape can be challenging. Let our expert guidance help you overcome regulatory hurdles and secure favorable reimbursement rates. Connect with us today!" #GenomicTesting #ReimbursementStrategy  

  • "Are you a genomic test CEO looking to accelerate market access for your cutting-edge products? Our specialized consulting services can help! Reach out to discuss how we can elevate your company." #GenomicTestCEO #MarketAccess  

  • "Unlock the potential of your genomic testing startup with expert advice from seasoned industry consultants. We're here to help with reimbursement strategies, market access, and more. Get in touch!" #GenomicStartup #Reimbursement  
Bonus 2:

The CEO reimbursement advice translated into "Pirate" and "German."  Here.

Bonus 3:

For a similar article in which ChatGPT 4 plays a Medicare lobbyist with a challenge, here.