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  "documentTitle": "Nevro Corp. (NVRO)",
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  "authorName": "Kir Kahlon",
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  "notes": "Uses a 'gotcha' interview format to frame the company's business model as deceptive.",
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      "text": "Our question: So, you're saying that the doctors who say that they don't have huge explant rates are just checked out after they implant, and outsource everything to the rep?\n\"Yes, unequivocally.\" – Longtime executive in the SCS space",
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      "text": "Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation",
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      "text": "Interviews with KOL's and industry experts revealed an under-appreciated but astonishing dynamic behind some Nevro implanters claiming they don't have explants: they're simply unaware, as doctors outsource all patient follow-up to Nevro reps, who feed them misinformation about how their patients are actually doing. A longtime executive - one of the most tenured in the space - indicated that Nevro \"did a very good job of managing and buffering the patient from the physician.\" He repeatedly emphasized the significance of this dynamic and stated that this ignorance - willful or otherwise - was \"unequivocally\" responsible for doctors who refuse to acknowledge explants. He provided examples of KOL's who discovered explants crises in their practices only after bypassing reps.",
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      "text": "\"Here's the reason that [the doctor who stopped using Nevro because of explants] started to look at his patients. Physicians would say, \"I'm getting phenomenal results with Nevro.\" And I would say, \"Okay. How do you know that?\" And they would say, \"Well the trial was phenomenal. The patients love it. The patient is saying that the results they're getting are, I've got 90% pain relief.\" \"How do you know that?\" \"Well, the rep tells me.\" \"When was the last time a patient told you?\" And physicians would have an aha moment, and Nevro did a very good job of managing and buffering the patient from the physician.\"",
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      "text": "\"If a doctor says, my explant ratio is the same as Nevro's as it is with everybody else, you should ask \"Okay, how often do you meet with your Nevro patients? Are you there for the actual programming? When the rep re-programs a Nevro patient, are you there for the re-programming?\" I'll bet you 9 out of 10 of them or 10 out of 10 of them aren't there; they don't know. I've challenged physicians. Your first 10 Nevro implants, call those patients yourself and ask them how they're doing. Don't ask the rep; call the actual patient. So, a bunch of them did, and that's how [doctor name redacted] found out [the device wasn't working].\"",
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      "text": "Nevro “did a very good job of managing and buffering the patient from the physician.” — Longtime executive in the SCS space",
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      "text": "Scorpion Capital | Nevro (NYSE: NVRO)",
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