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  "documentTitle": "Hims & Hers Health, Inc. (HIMS)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-07-13 00:00:00",
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  "pageNumber": 48,
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  "slideType": "expose_contradiction",
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  "notes": "Uses a contrast-pairs framework to juxtapose customer assumptions against legal reality.",
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      "kind": "callout",
      "text": "Assume that since HIMS is providing what seems like a healthcare service that it is subject to HIPAA and that your medical information is secure? Think again. HIMS collects a significant amount of sensitive information that it provides to advertising platforms.",
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      "kind": "callout",
      "text": "Think you are forming a doctor-patient relationship with HIMS? Nope.",
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      "kind": "callout",
      "text": "Want to pursue legal action against a physician at an affiliated medical group? Good luck, HIMS discloses in its 2022 10-K that all of the VIE entities combined have assets of just $7.7 million.",
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      "kind": "callout",
      "text": "HIMS leverages its role as an intermediary to operate free of the normal healthcare guardrails used to protect patients.",
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      "text": "By accepting this Agreement, you acknowledge and agree that Hims & Hers is not a healthcare provider... You agree that Hims & Hers shall not be responsible or liable... Hims & Hers is not a 'covered entity' under HIPAA...",
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      "kind": "paragraph",
      "text": "We assume that most HIMS customers view HIMS as a healthcare service provider and that, as a result, they have recourse to HIMS in the event of an adverse event and that the information they provide HIMS is subject to HIPAA. That is not the case. HIMS leverages its role as an intermediary to operate free of the normal healthcare guardrails used to protect patients.",
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      "kind": "quote",
      "text": "“By accepting this Agreement, you acknowledge and agree that Hims & Hers is not a healthcare provider and that by using the Service, you are not entering into a doctor-patient or other health care provider-patient relationship with Hims & Hers.” — HIMS Terms and Conditions",
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      "text": "Source: HIMS Terms and Conditions",
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      "kind": "title",
      "text": "HIMS Customers Must Indemnify The Company, And HIMS Is Not Subject To HIPAA Data Privacy Protections",
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      "text": "Excerpts From HIMS Terms and Conditions",
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