Specialist background
- Oversaw the expansion of Cano Health’s business in Florida
- Solid understanding of Florida market’s competitive landscape across healthcare facilities and key players involved
- Has held Director and C-level roles across industries, but most recently at healthcare companies, in their career of over 25 years
- In-depth knowledge of the benefits and drawbacks associated with expanding through de novos in the healthcare facility industry, first-hand experience of Cano's growth strategy
- Well-acquainted with the Medicare, membership, promotion, marketing and proper coding regulations that healthcare facility companies have to comply with
Questions
1.
There was news out two days ago in the space with CVS's potential discussion with OSH. That's as good a place to start as any. I think we would love to get your views on whether that is a real discussion. Everyone's scratching their head and saying, 'Okay, what's the implication for Cano?' CVS called off its discussions with Cano. What would be your thinking on why that happened? First, a reaction to the CVS-OSH and then how do we interpret that for Cano?
2.
(Talking over each other) OSH has that as well or not?
3.
Do you think Cano is too dense in Florida, because they say that-, I don't know. If you have a clinic that just opened and you get to break even, are you 50% utilised or somewhat lower or somewhat higher?
4.
Medicare can't prevent the referral, but Medicare Advantage can?
5.
What was the difference between the medical centres and the clinics?
6.
There's not a huge difference. It's not like one is meaningfully larger, or has specialists or something like that?
7.
The data systems that OSH uses and OSH is very uniform, no matter where you go in all 25 or 26 states, when you walk in, it's like you're greeted the same way, they start to take your information the same way and they fill out the data the same way. First of all, is that a big advantage in your view and, second of all, is that something that Cano is trying to do as well, even if the locations didn't all look uniform?
8.
The hierarchy gets maintained because of what, you're texting, emailing, calling the patient?
9.
Do you think they're too dense? You've got to attract the member and then you have to get them on Medicare Advantage. Is that right or will you take (talking over each other)?
10.
There's this very negative market view that management is not able to forecast its business. How do you react to that statement?
11.
Let's move onto Q3.
12.
I don't think it's there. How would you count that? Obviously liquidity is critical, so every dollar is critical. Is that something we should count on or is that something that's a pretty remote likelihood?
13.
Is this from the 150 clinics or from the affiliate business or from both?
14.
What about Sternlicht's view on this business? Is he a good source of capital? Are the four other pipe guys good sources of capital in a tight spot here, or do you think they're just like, "Lost some money here, let's just move on"?
15.
Anything else I didn't ask about which you think is super germane in this market environment?
16.
When you say HAP centres, what is that?
17.
One thing I forgot to ask about upfront was this conflict that some people are pointing out between the payers and providers. Obviously if CVS buys OSH, they will have that conflict. Others have made the point that, yes, Humana is involved with Cano but they're probably not buying 150 clinics. They're not going to buy Cano because it does create that downstream conflict. What are your thoughts when you hear those statements?
18.
It's every year for MA, right?
19.
Their provider?
20.
Churn is not likely to be coming down then?
