Summary:
Cancer is one of the leading cause of death worldwide. One of the key facts given by Cancer Research UK is that Cancer is the most feared disease among the British public and that one out of three people will be diagnosed with cancer during their lifetime. Current diagnostic methods are invasive, costly, and they do not detect all types of cancer but are directed towards diagnosing one particular type of cancer. Present diagnostic tests cannot detect cancer before the initial symptoms appear.
Miriam is a device by Miroculus. It detects cancer at early stages even before the symptoms appear with a simple blood test. The device is produced from a 3D printer. The total RNA from the blood is put into a 96 well plate which contains a …show more content…
The number of incidence of bowel cancer (includes colon and rectal cancer) is 41,581[1] of every 100,000 in the UK (Cancer Research UK)
Assuming that there is 1.9%[2] increase in the number of incidences per annum in the UK for the next 8 years, there would be 47,456[4] in every 100,000 diagnosed with bowel cancer. I have also assumed that the cost of treatment would not change over the years.
Assuming that with the test being introduced into the clinics, hospitals and being a part of the annual routine health check-up within 2 years and 75% take the blood test for cancer, the NHS would save about £1.9 billion over the span of 6 years. If the test is implemented after 8 years then it would cost the NHS £1.9 billion more just to diagnose and treat patients with bowel cancer.
Net Present Value compares projects or judges the likely success of a project by estimating the future cash in- flows after considering the discount rate and the initial investment is considered as an out-flow. These flows are discounted to take into account that money today is worth more than money later. In this case, I have assumed a discount rate of
Cancer is one of the leading cause of death worldwide. One of the key facts given by Cancer Research UK is that Cancer is the most feared disease among the British public and that one out of three people will be diagnosed with cancer during their lifetime. Current diagnostic methods are invasive, costly, and they do not detect all types of cancer but are directed towards diagnosing one particular type of cancer. Present diagnostic tests cannot detect cancer before the initial symptoms appear.
Miriam is a device by Miroculus. It detects cancer at early stages even before the symptoms appear with a simple blood test. The device is produced from a 3D printer. The total RNA from the blood is put into a 96 well plate which contains a …show more content…
The number of incidence of bowel cancer (includes colon and rectal cancer) is 41,581[1] of every 100,000 in the UK (Cancer Research UK)
Assuming that there is 1.9%[2] increase in the number of incidences per annum in the UK for the next 8 years, there would be 47,456[4] in every 100,000 diagnosed with bowel cancer. I have also assumed that the cost of treatment would not change over the years.
Assuming that with the test being introduced into the clinics, hospitals and being a part of the annual routine health check-up within 2 years and 75% take the blood test for cancer, the NHS would save about £1.9 billion over the span of 6 years. If the test is implemented after 8 years then it would cost the NHS £1.9 billion more just to diagnose and treat patients with bowel cancer.
Net Present Value compares projects or judges the likely success of a project by estimating the future cash in- flows after considering the discount rate and the initial investment is considered as an out-flow. These flows are discounted to take into account that money today is worth more than money later. In this case, I have assumed a discount rate of