For example, the Prostate Specific Antigen (PSA) test is famous for a high false positive rate, inviting many men to worry needlessly or get unwarranted biopsies. The current state of any test and its history are important to know for both patient and doctor, so both can have an informed dialog about the options after a positive result.
Also, each of these 50 tests are going to evolve over time, as will the accuracy of error rates for patient subpopulations. Race, age, ethnicity, co-morbidities and co-maladies will each shift the accuracy and precision of each test in ways that will make them much more useful if everyone stays well informed about all their merits and demerits.
There's also an interesting question, taking your roughly 1:1 true to false positive ratio as an example, of whether the marginal true positive does more good for the world than the marginal false positive.
Side-stepping those questions though, they probably won't give this test to literally every person in the population. How much does the picture improve when you give this only to people over 50? Or only smokers? You could still massively increase effective screening for cancer with a cheap and easy test if you combine it with enough population filtering to increase the true positive/false positive ratio to something like 70-90% rather than the 50%
But yes, the higher you drive the prior, the less the false-positives cost. That's a fairly normal situation - it's why they have to evaluate the cost-value of further-investigation against so many different population groups to determine the actual optimal usage.
And yes, the question I was trying to prompt really is "what information would we need to have in order to know when this test is a net positive, from the patient's perspective" (and separately, "from the insurance company's perspective", since that's likely to have a very different answer).
A couple thoughts -
1) If this is the only/main objection, then the test is good news for those that are analytically capable, even if it's potentially bad for Joe Median.
2) While what you describe is how it probably happens in general in the USA, but I wonder if it plays out differently in, say, the UK / Canada under NHS/Medicare. In those systems you don't get to pick your treatments; your doctor will only prescribe a follow-up if it meets ROI standards. (Then the health system picks up the bill). Of course you can go private but there's a pretty big barrier there, and perhaps having your GP push back more strongly (as they would if you were not actually at high risk) that might prevent many people from inferring too much from a potentially-false positive result.
From https://www.ama-assn.org/sites/ama-assn.org/files/corp/media...
"Screening mammography reduces mortality from breast cancer, including in women younger than age 50 years. However, screening mammography carries harms such as false positive results that can lead to additional imaging and invasive biopsy procedures, and overdiagnosis that could lead to treatment in patients who may not benefit from it. The USPSTF considered the balance of benefits and harms using a commissioned targeted systematic evidence review of randomized clinical trials and a decision analysis that compared the expected health outcomes of starting and ending mammography at different ages and using annual and biennial screening strategies; it concluded (in part) that routine screening should begin at age 50 years and continue biennially until age 74 years."
Nah, there's plenty of other things you'd try before the biopsy.
It’s still getting caught
Picture a population of a million people, all receiving the test. 1% of them have cancer (unknown to them) - half of those people get a negative screening result and half get a positive one (51% successful identification), and 0.5% of the full population get a negative screening result. Those numbers are roughly equal.
That doesn't make it useless by any means, but it's not nearly as 'specific' as it sounds on paper.