{
  "docId": "019dd923-622b-71dc-a6da-eab730ee09ab",
  "docSlug": "d705389771f5",
  "documentTitle": "athenahealth, Inc. (ATHN)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-05-05 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 56,
  "pageCount": 66,
  "prevPage": 55,
  "nextPage": 57,
  "slideType": "market_sizing",
  "function": "size_opportunity",
  "density": "overcrowded",
  "nDataPoints": 18,
  "notes": "The slide uses two charts to demonstrate that the 'greenfield' opportunity for EHR adoption has been largely exhausted as incentives phase out.",
  "elementsJson": [
    "headline_text",
    "bar_chart_vertical",
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-eab730ee09ab/56",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-eab730ee09ab",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-eab730ee09ab.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-eab730ee09ab#slide-56",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Accordingly, most doctors who are going to adopt EHRs have already done so, and the greenfield opportunity has been penetrated.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-3f40-73bb-a60a-da86daa3ec85",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.35,
        "x": 0.12,
        "y": 0.19
      },
      "kind": "chart",
      "text": "Total EHR Incentive Payments By Year of Implementation",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3ce94406-2af9-45ef-a7fc-2289aa09c6f7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.35,
        "x": 0.53,
        "y": 0.19
      },
      "kind": "chart",
      "text": "Percentage of Office-Based Physicians with EHR Systems",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "af9cf5b5-4b06-47ad-be7b-5b23bd0171bc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EHR adoption rate",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f40-73bb-a60a-dde3edd2453e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.75,
        "x": 0.13,
        "y": 0.48
      },
      "kind": "paragraph",
      "text": "A few years ago, doctors were paid $44,000 to implement and use an EHR. Late last year this dropped to $24,000, and in a few months the incentive will disappear altogether. Accordingly, most doctors who are going to adopt EHRs have already done so, and the greenfield opportunity has been penetrated.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ae1f333f-260e-4c56-8317-c881879bfaea",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.75,
        "x": 0.13,
        "y": 0.59
      },
      "kind": "source-note",
      "text": "Source: Total EMR incentive payments is from CMS’ An Introduction to the Medicare EHR Incentive Program from Eligible Professionals... Percentage of office-based physicians with EHR is from the CDC’s Use and Characteristics of EHR Systems...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3f464fc0-317b-491c-bcaa-b650a4c3ada2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.14,
        "x": 0.43,
        "y": 0.1
      },
      "kind": "title",
      "text": "Saturation",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "225d312b-4679-4aee-ba7b-b85cac416173",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "65ffa431-99d8-464e-8181-f6ad678574ec",
      "evidence": "The use of 'a few years ago' and 'accordingly' to show a change over time.",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 66,
      "from": 25,
      "beatId": "6da4308a-36de-4167-a2e6-e90fac6c4e36",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Victory (Alternative perspective)",
      "beatSlug": "overcoming-monster-the-victory",
      "evidence": "Slides 25-66 present an alternative perspective on athenahealth's valuation and growth prospects",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}