Incredibly cool painless needle and how to price such an innovation

Diabetics (of a certain type) need to take frequent insulin injections, a process that is painful. Terumo Corporation and Okano Industrial Corporation, both in Tokyo, Japan developed a process to produce a painless needle. The pain is reduced to that of a mosquito bite. Now what would be the value of this, and how would you price it? In the complex multilayered world of healthcare where the payor is usually not the care provider or the patient, you need a more rigorous approach to quantifying value to all stakeholders and not just the patient or the hospital. Different stakeholder groups want different things - the insurance company wants loyal policy holders, at low cost. The hospital wants more referrals, repeat visits, and a brand for clinical excellence and efficiency at a reasonable cost. The patient wants a no hassle, painfree experience. All these elements can be quantified statistically, and a value can be assigned for each. Using this value, a price can be developed for different market segments. But beyond all that, this is an incredibly cool idea, that deserves a moment of applause. To read more about the product, click here: Painless Injections | Science and Technology | Trends in Japan | Web Japan There's even a video on the CNN.com website with an interview of the inventor.. Do take a look at it.