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  "docSlug": "c97bc876ffb7",
  "documentTitle": "LHC Group, Inc. (LHCG)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-01-15 00:00:00",
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  "pageNumber": 8,
  "pageCount": 41,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 10,
  "notes": "Uses a combination of a stacked bar chart for location composition and a grouped bar chart for growth rate comparison to highlight the discrepancy.",
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      "kind": "callout",
      "text": "LHCG's reported organic home health growth could collapse once AFAM is finally included in the organic base",
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      "kind": "callout",
      "text": "LHCG’s reported organic home health growth could collapse once AFAM is finally included in the organic base",
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      "subkind": null,
      "toolName": "Visual emphasis",
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      "kind": "chart",
      "text": "Home Health Revenue: Organic Growth, As Reported",
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      "kind": "chart",
      "text": "Organic Revenue Base by Company",
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      "kind": "metric",
      "text": "organic home health growth: 1.7%",
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      "kind": "paragraph",
      "text": "While LHCG reports levels of organic home health growth roughly on par with AMED, Spruce Point believes that LHCG's organic home health growth figure is misleading as reported...",
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      "kind": "paragraph",
      "text": "Spruce Point believes that LHCG's reported organic home health sales growth represents a skewed measure of organic growth, and is not representative of LHCG's underlying performance.",
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      "kind": "source-note",
      "text": "Sources: LHCG and AMED SEC Filings, Spruce Point estimates. 1. AMED Home Health organic growth is a weighted average...",
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      "kind": "title",
      "text": "LHCG Organic Home Health Growth Is Not Representative Of Underlying Growth Rate",
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      "evidence": "The expose contradiction slides detail various issues with LHCG's financials and management practices.",
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      "parentBeatName": "Development",
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  "loops": [
    {
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      "name": "Cost Of Inaction",
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      "evidence": "The deck implies that investors will suffer financial losses if they do not heed Spruce Point's warning.",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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      "description": "Quantify what happens if the audience does nothing"
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