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New billing code
Each year the American Dental Association (ADA) reviews their CDT (“Current Dental Terminology”) codes (referred to as “billing codes''). Commonly, new billing codes are created as a result of new technologies that warrant change. The Company plans to secure a new billing code for “Perioscan® periodontal exam” procedures. Currently “manual probes'' are billed out as part of a standard “oral exam”. Upon securing the new billing code, dental practitioners will bill (and insurance companies will pay) for Perioscan® periodontal exams separate from a standard oral exam.
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High-margin disposables
Perioscan® exam procedures require two (2) single-use, disposable products (“Perioscan® Disposables”). The ultrasound transducers in Perioscan® handsets cannot withstand the high temperatures of autoclaves. To provide a sterile solution, each Perioscan® procedure will use a disposable tip and handset covering. In addition, in order for the Perioscan® ultrasound to read periodontal pocket depths, a single-use, gel solution is applied along the gum line for each exam. Its estimated Perioscan® Disposable sales will generate residual gross margins of over $5,000/year for each dental professional account installed.
Gross margin potential
An ultrasound diagnostics tool has never been used for dental care. Perioscan’s® newness and innovation will likely yield multiple, high-value patents that will provide major competitive advantages. Perioscan® also uses advanced AI and machine learning to perform more accurately and efficiently. Therefore, as patient data increases over time, so will Perioscan’s® competitive advantages. Since Perioscan® is positioned to become the “new industry standard”, Perioscan® has the realistic potential of achieving 80 percent U.S. market share within five (5) years of its commercial launch. It’s estimated each 10 percent U.S. market share (15,000 practioners) will result in $75 million/year of reoccurring gross margin from Perioscan® Disposable sales alone.
Meet the founder
Jack Singer has over 25 years experience managing high-growth, technology companies. This includes founding, building and selling three (3) technology companies, two (2) of which were software companies involved mapping and charting for periodontal disease diagnosis. Mr. Singer has extensive knowledge and experience in dental imaging systems and in integrating technology solutions with back-end dental practice management systems. He also has large company experience, including responsibilities as Finance Manager and Director of Budgeting for Blue Cross and Blue Shield. Mr. Singer holds a BA degree in Accounting from Pace University, New York.