PAVmed Inc. (PAVM): Marketing Mix Analysis [Dec-2025 Updated]

You're digging into PAVmed Inc.'s strategy right now, trying to map out if the reimbursement needle is finally moving for their diagnostics play, and honestly, the entire late 2025 marketing mix-the 4Ps-boils down to one critical factor: getting the EsoGuard test paid for nationally. We saw revenue hit $1.2 million in Q3 2025 from just 2,841 tests, which tells you the pricing power isn't fully realized yet, but the unanimous Medicare CAC support in Q3 2025 is the real signal; it's the linchpin for their Place and Price execution. Below, I break down exactly how their Product pipeline, Place strategy targeting health systems, Promotion around clinical validation, and the tricky Price structure all hinge on that coverage decision, giving you a clear, no-fluff view of where PAVmed Inc. stands.

PAVmed Inc. (PAVM) - Marketing Mix: Product

The product element for PAVmed Inc. centers on its portfolio of medical technologies, primarily driven through its subsidiaries, Lucid Diagnostics and Veris Health, focusing on non-endoscopic, minimally invasive diagnostic and monitoring tools for cancer prevention and personalized care.

EsoGuard® Esophageal DNA Test and EsoCheck® device for precancer detection

Lucid Diagnostics markets the EsoGuard® Esophageal DNA Test, which uses the EsoCheck® Esophageal Cell Collection Device. This combination represents the first and only commercial tools for widespread early detection of esophageal precancer. The commercial traction is reflected in the latest reported figures. For the three months ended September 30, 2025, Lucid Diagnostics recognized $1.2 million in EsoGuard® Esophageal DNA Test revenue. During that same period, the company processed 2,841 EsoGuard tests. A significant regulatory milestone was achieved with unanimous support for Medicare coverage from a Medicare Contractor Advisory Committee (CAC) meeting. Furthermore, patient testing and billing commenced under the first positive commercial insurance coverage policy from Highmark Blue Cross Blue Shield, effective May 26, 2025. Lucid Diagnostics strengthened its balance sheet with an underwritten public offering, netting approximately $27.0 million in proceeds, extending its runway into 2026.

Here's a quick look at the recent performance metrics for the diagnostic product line:

Veris Cancer Care Platform for remote patient monitoring (RPM) via Veris Health

Veris Health is developing the Veris Cancer Care Platform, which focuses on enhanced personalized cancer care using implantable biologic sensors with wireless communication alongside connected external devices. This platform is now moving into its commercial application phase. Veris Health launched the commercial phase of its strategic partnership with The Ohio State University James Cancer Hospital. The initial target for this partnership is 1,000 patients in year one. To fund its development, Veris Health completed a $2.5 million direct equity financing in the second quarter of 2025, which supplemented a prior $2.4 million financing at a $35 million pre-money valuation.

Implantable physiological monitor (Veris Health) in development for planned 2026 FDA submission

A key hardware component of the Veris Health offering is the implantable physiological monitor, designed to be implanted alongside a chemotherapy port. Following financing milestones, Veris Health relaunched the development of this monitor with new vendors. Management has stated the company is funded to pursue an FDA submission for this device planned for 2026. This development work contributed to a Non-GAAP adjusted loss of approximately $0.4 million for PAVmed in Q3 2025, which was noted as basically the equivalent to the incremental contractor development costs for the Veris implantable device.

New endoscopic esophageal imaging technology under Letter of Intent (LOI) for future licensing

PAVmed Inc. signed a letter of intent to license new, groundbreaking endoscopic esophageal imaging technology originating from Duke University. This technology is intended to expand the innovation pipeline, though the program is currently early-stage. The path forward for this asset will require additional development work and likely a small clinical study before commercialization can be considered.

Core focus is on non-endoscopic, minimally invasive diagnostic tools

The overarching product strategy emphasizes non-endoscopic, minimally invasive diagnostic tools, exemplified by the EsoGuard test, which avoids the need for invasive endoscopy for initial screening. The company's overall GAAP net loss for the three months ended September 30, 2025, was $6.3 million. The focus on developing these less invasive tools is supported by the capital structure efforts, which saw the Senior Secured Convertible Notes liability decrease from $29.1 million at the end of 2024 to $6.9 million by September 2025. PAVmed reported cash and cash equivalents of $3.1 million as of September 30, 2025.

You're looking at a portfolio where one product is generating revenue and securing coverage, while the next-generation hardware is in active development.

Finance: draft 13-week cash view by Friday.

PAVmed Inc. (PAVM) - Marketing mix: Place

Place, or distribution, for PAVmed Inc. (PAVM) is executed through its subsidiaries, primarily Lucid Diagnostics for the EsoGuard test and Veris Health for its digital health platform. The strategy centers on direct engagement with clinical settings, strategic institutional alignment, and developing alternative payment channels.

Direct sales force targeting primary care and gastroenterology practices

Lucid Diagnostics has focused its commercial efforts on expanding access within physician offices. As of the first quarter of 2025, the subsidiary launched the 'Embrace the Future' campaign specifically targeting gastroenterologists to drive adoption of the EsoGuard Esophageal DNA Test. The distribution model relies on these practitioners ordering the test, which is then processed centrally.

Strategic health system partnerships, like the commercial launch with OSU-The James

A key distribution and validation channel involves large academic medical centers. Veris Health, PAVmed Inc.'s digital health subsidiary, launched the commercial phase of its long-term strategic partnership agreement with The Ohio State University Comprehensive Cancer Center - Arthur G. James Cancer Hospital and Richard J. Solove Research Institute (OSUCCC - James) on October 7, 2025. This engagement expanded from a pilot phase to a full engagement across The James, including launching a clinical registry on patients enrolled on the Veris Cancer Care Platform.

The Veris Cancer Care Platform is designed for deployment to enhance personalized cancer care in patients undergoing systemic cancer therapy. The goal for this partnership was previously stated to include enrolling 1,000 patients in its first year.

Expanding access through cash-pay channels, including concierge medicine and employer markets

Lucid Diagnostics has actively pursued revenue streams independent of immediate national coverage decisions. The commercial strategy utilizes three key revenue drivers:

• Traditional claims submissions.
• Direct contracting with employers and self-insured entities.
• A new cash pay program focused on concierge medicine practices.

As of the first quarter of 2025, Lucid Diagnostics reported gaining traction in both the cash-pay concierge medicine and employer markets sales channels.

Targeting high-Medicare patient geographies in anticipation of national coverage

While awaiting a final Local Coverage Determination (LCD) from Medicare, PAVmed Inc. (PAVM) has planned resource allocation around anticipated coverage. Historically, Medicare represented approximately 10-15% of EsoGuard test volume prior to the full coverage push. The company plans to pivot digital targeting and sales resources toward high-Medicare geographies once national coverage is secured, which is anticipated to unlock a market opportunity estimated at $1.2 billion.

Lucid Diagnostics' CLIA-certified laboratory processes all EsoGuard tests in the US

All EsoGuard Esophageal DNA Tests are processed within the United States at Lucid Diagnostics' CLIA-certified laboratory. The laboratory's operational capacity is noted as ample, with management citing more than 5x lab capacity available to support scaling volumes tied to reimbursement milestones.

The success of the distribution and access strategy is reflected in the quarterly test volumes and recognized revenue for the EsoGuard test:

The September 4, 2025, Contractor Advisory Committee (CAC) meeting, where medical experts unanimously supported Medicare coverage for EsoGuard, represents a key step in the final stages of the LCD reconsideration process, which is expected to significantly accelerate future distribution and access.

PAVmed Inc. (PAVM) - Marketing Mix: Promotion

Promotion for PAVmed Inc. centers heavily on communicating clinical validation and financial stability milestones to both the investment community and the target physician audience. The company utilizes its subsidiaries, primarily Lucid Diagnostics and Veris Health, to execute these targeted communication strategies.

Investor Relations and Business Updates

You're tracking the narrative PAVmed Inc. is presenting to the market, which is a mix of strategic progress and financial headwinds. The November 13, 2025, Q3 Business Update Conference Call served as a key promotional vehicle for these updates. Financially, the results showed a GAAP net loss of $6 million for Q3 2025. The non-GAAP loss was reported at $446,000, with a reported cash burn rate of $900,000 for the quarter. Cash and cash equivalents stood at $3.1 million as of September 30, 2025. The stock reacted to the news, with PAVmed's stock falling 4.65% in premarket trading following the earnings release. On the strategic side, the company promoted the launch of the Veris commercial phase with The Ohio State University James Cancer Hospital and the restructuring of debt, exchanging about 80% of outstanding debt for Series C preferred equity. Furthermore, the company promoted plans for an FDA submission of an implantable device in 2026.

Direct-to-Physician Marketing via the 'Embrace the Future' Campaign

Lucid Diagnostics, a subsidiary, executed the 'Embrace the Future' campaign specifically targeting gastroenterologists, starting around March/April 2025. This campaign was timed to coincide with Esophageal Cancer Awareness Month in April and was prominently featured at the Digestive Disease Week (DDW) Conference in May 2025. The promotion focused on the EsoCheck Esophageal Cell Collection Device and its performance data. The campaign highlighted that the procedure is performed in under three minutes in an office setting. The clinical data promoted showed that samples collected with EsoCheck, analyzed with EsoGuard, detected esophageal precancer with a negative predictive value (NPV) of approximately 99%. This campaign supported the 1Q25 EsoGuard revenue of $0.8 million.

The key metrics promoted through this direct-to-physician effort can be summarized:

Publicizing Key Reimbursement Milestones

A major promotional focus was publicizing the progress toward securing broad insurance coverage, which directly impacts adoption and revenue. PAVmed Inc. heavily publicized that medical experts unanimously supported Medicare coverage for EsoGuard during a Medicare Contractor Advisory Committee (CAC) meeting in Q3 2025. This CAC meeting was specifically secured to be held on September 4, 2025. This achievement was framed as strengthening the financial position, following a public stock offering that netted approximately $27.0 million in proceeds in Q3 2025.

Leveraging Strategic Partnerships for Validation and Adoption

The company used its partnerships as evidence of clinical validation and a pathway to wider adoption. Lucid Diagnostics announced a partnership with Hoag in June 2025, aimed at expanding access to EsoGuard precancer testing across Hoag's healthcare delivery network. For Veris Health, the promotion centered on the launch of its commercial phase with The Ohio State University James Cancer Hospital, following the successful completion of a pilot program of the Veris Cancer Care Platform. Furthermore, Veris Health was promoted as a Founding Member of the CancerX Partnership.

Focus on Clinical Data Presentation

PAVmed Inc. promoted its commitment to innovation and data presentation through several avenues. The company announced signing a letter of intent (LOI) to license a new endoscopic esophageal imaging technology from Duke University. This move promotes the pipeline's future potential. To keep the investment community engaged with current data, Lucid Diagnostics participated in the Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum on November 13, 2025.

Key promotional activities related to clinical and partnership milestones include:

• Veris Health commercial phase launch with OSU-The James.
• LOI signed to license technology from Duke University.
• Veris Health joined CancerX Partnership as a Founding Member.
• Lucid Diagnostics participated in the Canaccord Genuity Forum on November 13, 2025.
• Lucid Diagnostics was named a GenomeWeb 2025 Best Places to Work Top-Ranking Honoree on November 20, 2025.

Finance: draft 13-week cash view by Friday.

PAVmed Inc. (PAVM) - Marketing Mix: Price

You're looking at the pricing structure for PAVmed Inc. (PAVM) products, and right now, the numbers are heavily dictated by reimbursement status, not sticker price alone. For the diagnostic side, Lucid Diagnostics recognized $1.2 million in EsoGuard revenue for the third quarter of 2025, which came from processing 2,841 EsoGuard tests. That gives you an average recognized revenue per test for that quarter of approximately $422.39.

The entire pricing strategy for EsoGuard is, frankly, sitting on a pinhead waiting for a positive Medicare Local Coverage Determination (LCD). Securing that national coverage is the key lever that will fundamentally change the accessible price point and volume potential for the test. Still, commercial progress is being made; testing has initiated under the first positive commercial insurance policy with Highmark Blue Cross Blue Shield.

To give you a clearer picture of the current reality outside of expected Medicare rates, we have to look at the prior quarter's out-of-network experience. This shows you the gap between invoiced amounts and what actually gets recognized:

This data clearly illustrates the pricing risk you face when a payer has not established a favorable coverage policy. The recognized revenue of $17.86 per test out-of-network is a stark contrast to the potential value once full coverage is achieved.

On the digital health front with Veris Health, the pricing model is structured for recurring revenue, which is a different approach entirely. Veris Health utilizes a software-as-a-service (SaaS) recurring-revenue business model for its Cancer Care Platform. This model leverages well-established Remote Patient Monitoring (RPM) codes. The structure involves oncology practices and hospitals purchasing seats on the platform and paying a monthly remote monitoring charge. This recurring revenue stream is designed to provide attractive margins to Veris and its clients by aligning with existing reimbursement structures.

Here are the key pricing and revenue components we see:

• EsoGuard Revenue Recognized (Q3 2025): $1.2 million.
• EsoGuard Tests Processed (Q3 2025): 2,841.
• Out-of-Network Allowable Average (Q2 2025): Approximately $17.86 per test.
• Veris Health Model: Software-as-a-service with monthly charges.
• Pricing Dependency: Heavily reliant on Medicare LCD finalization.

Finance: draft 13-week cash view by Friday.