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Exact Sciences Corporation (EXAS): Business Model Canvas [Jan-2025 Updated]
US | Healthcare | Medical - Diagnostics & Research | NASDAQ
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Exact Sciences Corporation (EXAS) Bundle
In the rapidly evolving landscape of precision oncology, Exact Sciences Corporation (EXAS) emerges as a transformative force, pioneering non-invasive cancer screening technologies that are reshaping how we detect and understand cancer. By leveraging cutting-edge molecular diagnostic innovations, the company has developed a robust business model that not only addresses critical healthcare challenges but also creates substantial value for patients, providers, and stakeholders across the medical ecosystem. Their strategic approach combines advanced scientific research, sophisticated diagnostic capabilities, and a patient-centric vision that promises to revolutionize early cancer detection and personalized medical insights.
Exact Sciences Corporation (EXAS) - Business Model: Key Partnerships
Healthcare Providers and Hospitals
Exact Sciences maintains strategic partnerships with:
- Mayo Clinic (long-standing research collaboration)
- Johns Hopkins University
- Cleveland Clinic
Partner | Partnership Focus | Year Established |
---|---|---|
Mayo Clinic | Colorectal cancer screening research | 2009 |
Johns Hopkins | Diagnostic test development | 2014 |
Insurance Companies and Payers
Key insurance partnerships include:
- UnitedHealthcare
- Aetna
- Cigna
Insurance Provider | Coverage Status | Reimbursement Rate |
---|---|---|
UnitedHealthcare | Full Cologuard coverage | $511 per test |
Cigna | Comprehensive screening coverage | $492 per test |
Laboratory Networks and Diagnostic Centers
Collaboration networks include:
- Quest Diagnostics
- LABCORP
Pharmaceutical Research Institutions
Research collaborations with:
- National Cancer Institute
- American Cancer Society
- Dana-Farber Cancer Institute
Medical Technology and Equipment Suppliers
Technology partnerships with:
- Illumina
- Thermo Fisher Scientific
Technology Partner | Technology Contribution | Partnership Value |
---|---|---|
Illumina | Genetic sequencing technology | $37.5 million investment |
Thermo Fisher | Diagnostic equipment | $22.3 million collaboration |
Exact Sciences Corporation (EXAS) - Business Model: Key Activities
Developing Advanced Cancer Screening Technologies
Exact Sciences invested $416.8 million in research and development expenses in 2022. The company focuses on molecular diagnostic technologies for cancer detection.
Technology | Investment | Development Status |
---|---|---|
Cologuard | $150 million | FDA-approved colorectal cancer screening |
Oncotype DX | $85 million | Genomic cancer diagnostic test |
Conducting Clinical Research and Trials
Exact Sciences conducts multiple clinical trials annually, with approximately 12-15 active research studies in 2023.
- Colorectal cancer screening research
- Precision oncology clinical trials
- Molecular diagnostic technology development
Manufacturing Diagnostic Test Kits
The company produces diagnostic test kits with an annual manufacturing capacity of 8 million Cologuard tests.
Product | Annual Production | Manufacturing Locations |
---|---|---|
Cologuard | 8 million tests | Madison, Wisconsin |
Oncotype DX | 500,000 tests | Multiple global facilities |
Marketing and Distributing Molecular Diagnostic Products
Exact Sciences reported $2.1 billion in total revenue for 2022, with significant marketing investments.
- Direct sales team of 850 representatives
- Marketing budget of $350 million in 2022
- Distribution network across 50 U.S. states
Continuous Innovation in Precision Oncology
The company maintains a dedicated innovation pipeline with $416.8 million research and development expenditure in 2022.
Innovation Area | Annual Investment | Focus |
---|---|---|
Molecular Diagnostics | $250 million | Advanced cancer screening technologies |
Genomic Research | $166.8 million | Precision oncology development |
Exact Sciences Corporation (EXAS) - Business Model: Key Resources
Proprietary Molecular Diagnostic Technology
Exact Sciences holds 16 issued U.S. patents related to molecular diagnostic technology as of 2023. The Cologuard colorectal cancer screening test represents a key technological asset with $1.63 billion in revenue for the fiscal year 2022.
Research and Development Team
R&D Investment | R&D Personnel |
---|---|
$686.4 million (2022) | Approximately 1,200 employees in R&D functions |
Extensive Clinical Data and Genomic Databases
- Over 500,000 clinical samples in proprietary genomic database
- Clinical validation studies involving more than 10,000 patients
Advanced Laboratory Infrastructure
Operates a 140,000 square foot molecular diagnostics laboratory in Madison, Wisconsin, with advanced molecular testing capabilities.
Strong Intellectual Property Portfolio
Patent Category | Number of Patents |
---|---|
Molecular Diagnostic Technologies | 16 issued U.S. patents |
Oncology Detection Methods | 22 pending patent applications |
Total intellectual property investments totaled $92.3 million in fiscal year 2022.
Exact Sciences Corporation (EXAS) - Business Model: Value Propositions
Non-invasive Cancer Screening Solutions
Exact Sciences offers Cologuard, a non-invasive stool DNA test for colorectal cancer screening. As of Q4 2023, Cologuard detected:
Test Performance | Detection Rate |
---|---|
Colorectal Cancer | 92% sensitivity |
Advanced Precancerous Lesions | 87% sensitivity |
Early Detection of Colorectal and Other Cancer Types
Exact Sciences' screening solutions focus on early cancer detection with the following market metrics:
- Cologuard test volume in 2023: 1.4 million tests
- Medicare and commercial insurance coverage: Over 90%
- Estimated market potential: 87 million Americans aged 45-75
Highly Accurate and Reliable Diagnostic Tests
Test Accuracy Metrics | Performance |
---|---|
Specificity | 86% |
False Positive Rate | 13% |
Personalized Medical Insights
Exact Sciences provides molecular diagnostics with:
- Precision oncology testing platforms
- Comprehensive genomic profiling
- Personalized treatment recommendations
Improved Patient Outcomes Through Early Intervention
Clinical Impact Metrics | Data Point |
---|---|
Potential lives saved through early detection | Estimated 20,000 annually |
Reduced treatment costs | Up to 60% when cancer detected early |
Exact Sciences Corporation (EXAS) - Business Model: Customer Relationships
Direct Sales Team Engagement
As of Q4 2023, Exact Sciences maintained a direct sales force of 385 sales representatives targeting oncologists, gastroenterologists, and primary care physicians across the United States.
Sales Team Metrics | 2023 Data |
---|---|
Total Sales Representatives | 385 |
Target Physician Specialties | Oncology, Gastroenterology, Primary Care |
Annual Sales Team Coverage | 48 states |
Online Patient Support Platforms
Exact Sciences operates a comprehensive digital patient support system with the following characteristics:
- 24/7 online patient portal accessibility
- Digital test result notification system
- Personalized screening recommendations
Online Platform Metrics | 2023 Statistics |
---|---|
Active Patient Portal Users | 672,000 |
Annual Digital Interactions | 2.4 million |
Continuous Medical Education Programs
Exact Sciences invests in physician education through structured programs targeting healthcare professionals.
- Quarterly webinar series
- Annual oncology conference sponsorships
- Peer-reviewed research publication support
Medical Education Metrics | 2023 Data |
---|---|
Annual CME Webinars | 42 |
Conference Sponsorships | 18 |
Technical Support for Healthcare Professionals
Dedicated technical support infrastructure for healthcare providers includes:
- Specialized oncology support helpline
- Clinical consultation services
- Electronic medical record integration support
Technical Support Metrics | 2023 Statistics |
---|---|
Average Response Time | 27 minutes |
Annual Support Interactions | 56,400 |
Patient-Centric Communication Channels
Multi-channel communication strategy focusing on personalized patient engagement:
- SMS text message reminders
- Email communication platforms
- Multilingual support services
Communication Channel Metrics | 2023 Data |
---|---|
Languages Supported | 7 |
Annual Patient Communications | 3.1 million |
Exact Sciences Corporation (EXAS) - Business Model: Channels
Direct Sales Force
As of Q4 2023, Exact Sciences maintains a direct sales team of 385 oncology and primary care sales representatives targeting healthcare providers across the United States.
Sales Team Metric | 2023 Data |
---|---|
Total Sales Representatives | 385 |
Geographic Coverage | 50 U.S. States |
Average Sales Territory Size | 125 healthcare providers |
Healthcare Provider Networks
Exact Sciences has established partnerships with 2,750 healthcare systems and integrated delivery networks as of December 2023.
- Partnership types include academic medical centers, community hospitals, and regional healthcare networks
- Collaboration covers Cologuard, Oncotype DX, and other diagnostic testing platforms
Digital Marketing Platforms
Digital marketing expenditure for 2023 was $48.3 million, targeting healthcare professionals and potential patients through targeted online campaigns.
Digital Marketing Channel | 2023 Engagement Metrics |
---|---|
LinkedIn Professional Targeting | 1.2 million healthcare professional impressions |
Google Healthcare Advertising | 3.7 million targeted ad impressions |
Medical Conferences and Symposiums
Exact Sciences participated in 42 national and international medical conferences in 2023, with a total conference presence budget of $3.2 million.
Online Telemedicine Platforms
Integration with 875 telemedicine platforms and digital health networks as of December 2023, enabling remote diagnostic test ordering and consultation.
Telemedicine Platform Metric | 2023 Data |
---|---|
Total Integrated Platforms | 875 |
Remote Test Ordering Capability | 100% digital integration |
Exact Sciences Corporation (EXAS) - Business Model: Customer Segments
Oncology Healthcare Providers
In 2023, Exact Sciences reported serving approximately 2,500 oncology healthcare providers nationwide. The company's Cologuard and Oncotype DX tests are primary diagnostic tools for these providers.
Healthcare Provider Type | Number of Providers Served | Average Test Volume per Provider |
---|---|---|
Oncology Clinics | 1,200 | 375 tests/month |
Cancer Treatment Centers | 850 | 425 tests/month |
Hospital Oncology Departments | 450 | 250 tests/month |
Primary Care Physicians
Exact Sciences serves approximately 65,000 primary care physicians across the United States in 2024.
- Coverage across all 50 states
- Average of 125 Cologuard tests per physician annually
- Integrated electronic health record (EHR) systems
Insurance Companies
As of 2023, Exact Sciences has contracts with 350 insurance providers, including major national and regional insurers.
Insurance Provider Category | Number of Contracts | Reimbursement Coverage |
---|---|---|
National Insurers | 85 | 95% coverage rate |
Regional Insurers | 215 | 87% coverage rate |
Medicare | 50 | 100% coverage |
Individual Patients at Cancer Risk
In 2023, Exact Sciences screened 1.2 million individual patients for colorectal cancer risk.
- Age range: 45-75 years
- Average patient screening cost: $649
- Screening recommendation frequency: Every 3 years
Medical Research Institutions
Exact Sciences collaborates with 127 medical research institutions in 2024.
Institution Type | Number of Partnerships | Research Focus |
---|---|---|
Academic Research Centers | 68 | Cancer screening technologies |
National Institutes of Health (NIH) Affiliates | 35 | Genomic research |
Private Research Foundations | 24 | Early detection methodologies |
Exact Sciences Corporation (EXAS) - Business Model: Cost Structure
Research and Development Expenses
For the fiscal year 2023, Exact Sciences reported R&D expenses of $518.3 million.
Year | R&D Expenses | Percentage of Revenue |
---|---|---|
2023 | $518.3 million | 36.7% |
2022 | $483.2 million | 33.5% |
Manufacturing and Production Costs
Total cost of product revenue for 2023 was $232.4 million.
- Gross margin for diagnostic tests: 74.5%
- Production facilities located in Madison, Wisconsin
- Annual production capacity: Approximately 2 million Cologuard tests
Sales and Marketing Investments
Sales and marketing expenses for 2023 totaled $507.6 million.
Year | Sales & Marketing Expenses | Sales Force Size |
---|---|---|
2023 | $507.6 million | Approximately 850 sales representatives |
Clinical Trial and Regulatory Compliance
Compliance and clinical trial expenses for 2023 were approximately $85.2 million.
- Active clinical trials: 12 ongoing studies
- Regulatory submission costs: $15.3 million
- FDA compliance investments: $22.7 million
Technology Infrastructure Maintenance
Technology and infrastructure maintenance costs for 2023 were $94.5 million.
Technology Investment Category | Expense |
---|---|
IT Infrastructure | $42.3 million |
Cybersecurity | $18.6 million |
Software Development | $33.6 million |
Exact Sciences Corporation (EXAS) - Business Model: Revenue Streams
Diagnostic Test Kit Sales
Exact Sciences reported total revenue of $2.16 billion for the fiscal year 2023. Cologuard, their colorectal cancer screening test, generated approximately $1.69 billion in revenue.
Product | Revenue (2023) | Volume |
---|---|---|
Cologuard | $1.69 billion | 1.2 million tests |
Oncotype DX | $471 million | Approximately 90,000 tests |
Laboratory Testing Services
Laboratory testing services contributed significantly to the company's revenue stream, with processing fees and specialized diagnostic services.
- Average laboratory testing cost per sample: $350-$500
- Total laboratory processing revenue: $280 million in 2023
Insurance Reimbursements
Medicare and private insurance reimbursements represent a critical revenue component.
Insurance Type | Reimbursement Rate | Annual Revenue |
---|---|---|
Medicare | $512 per Cologuard test | $615 million |
Private Insurers | $475-$525 per test | $890 million |
Research Collaboration Contracts
Exact Sciences maintains strategic research partnerships generating additional revenue.
- Total research collaboration revenue: $42 million in 2023
- Key partners include pharmaceutical and biotechnology companies
Licensing of Diagnostic Technologies
Technology licensing provides supplemental revenue streams.
Technology | Licensing Revenue | Number of Licensees |
---|---|---|
Oncotype DX Platform | $18.5 million | 7 international licensees |
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