Alt-Bionics was back in late 2019 while competing for the brand new startup at the University of Texas at the San Antonio (UTSA) Tech Symposium. The company finished 3BM’s infrared paint-curing system from second, but Alt captured the power of committed technology and great storytelling, and national and international titles. A write-up on the school’s site noted that, at $ 700, it only spent a fraction of the cost of standard systems for artificial limbs.
Much of the subsequent coverage focused on the team’s journey story from the market to good products, noting that CEO / Co-Founder (and USTA Engineering Grade) Ryan Savedre noted that these types of products can cost up to $10,000 a pop. The company is operating at a price point of about $ 3,500. Meanwhile, the Alt-Bionics team is chronicling product development on social media. Before taking a closer look at this roundup we wanted to get in touch with Savder about how the past three years have gone and what the future holds for the company. And bonus:
We’ve received a number of unpublished renderings that alt notes are “not an indicator of our final product. Only a celebration announces the end of our patent work by rendering our team” – so accept whatever you want. I will start by saying that these are not expensive to produce and they do not need to be so expensive for the user. There is no answer at all, but I will try my best to summarize the multiple reasons behind the exaggerated price around the bionic hand. We have seen that artificial devices have two parts in the final price/cost. The third (but second reason) will also be discussed.
Manufacturers develop and manufacture these bionic devices and then sell them in artificial and orthopedic clinics (one of the few places where you can fit these devices in a few places). The most affordable bionic prosthetic arm at P&O clinics starts at around $10,000 and can go up to several million dollars. Oddly enough, this cost does not always reflect the functionality or functionality of the device. These manufacturers ultimately determine the price of their devices. Among them cited larger overhead costs as the primary reason for not being able to lower their main tags.