Theranos, a company with the reputation for lower priced, faster, and better lab results is making the press, based on their innovative approach to blood testing. Founded by Elizabeth Holmes in 2003, Theranos has led the way for blood testing. As much buzz as this has made, the current news is contrary. Holmes is now listed on the Forbes billionaire list and Theranos has an estimated worth of greater than $9 billion.
The big question comes about as to how Holmes invention works. As reported in Business Insider, David Koch, MD and president of the American Association for Clinical Chemistry, stated that it is impossible to say how good this is going to work due to lack of evidence to review. There are no peer-reviewed studies, which compare traditional tests to Theranos lab tests. Jaime Garcia Dias has reasonably looked at this with a skeptical eye. In an effort to protect intellectual property, there are no independent experts allowed lab access.
A representative of Theranos has reported to the Business Insider that they have called for an “unprecedented level of review with the FDA,” further citing that they are not obligated to do this. The outcome remains to be seen. Theranos labs are currently in 41 of 8,000 Walgreen’s in the US. Tests are being conducted for GlaxoSmithKline and Pfizer as well as several hospitals systems. Revenue is also gained from the Cleveland Clinic and the US military. Labs are all certified and operate clinically.