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  "documentTitle": "Nevro Corp. (NVRO)",
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  "authorName": "Kir Kahlon",
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  "presentationDate": "2021-01-07 00:00:00",
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      "text": "We believe that Nevro’s business model hinges on unsustainable kickbacks to high-volume implanters",
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      "text": "A high volume implanter and Nevro user states doctors only use devices like Nevro's if they're \"on the dole\" and that you have to \"grease\" them with consulting, teaching, and other fees to get the business.",
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      "text": "A second KOL described Nevro's various programs as financial inducements and \"rewards\" to do more Nevro volume, which we believe violates anti-kickback laws.",
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      "text": "A third, a current Nevro consultant and one of their highest volume implanters, described the wink-wink",
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      "text": "KOL's and former Nevro executives describe practices identical to what the OIG Fraud Alert targets, detailing what we interpret as blatant kickbacks and indicating that the SCS space is driven by a small number of high volume implanters who are seeking to be essentially bribed for their device volume. Some doctors used the word kickbacks directly, while others preferred phrases like \"they'll throw a lot of money your way\" or \"it's basically like a reward system.\"",
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      "text": "\"I know a doctor down the block who was doing a lot of Nevro. He only does procedures when he gets the dole. He's now doing Abbot. You have to grease him to get his business. I don't operate that way and everyone knows it. Consulting is one way, teaching is another. You can get a ridiculous amount for teaching. Then they have these round tables that are junkets.\" - KOL",
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      "text": "\"Nevro will put doctors on studies because it's a way to boost income in their practices. They'll throw a lot of money your way. They'll put you on these consulting contracts and give you a bunch of speaking things and everything else and it's basically like a reward system. If you're doing a lot more Nevro, you get more speaking engagements. [Name redacted] gets a ton of seeking opportunities because they know he's very influential in the field. Nevro was giving [name redacted] easily a hundred fifty thousand dollars a year and they gave him stock, so you can look that up. He openly has stock, to keep him implanting [Nevro's device].\" - High volume KOL and former Nevro user",
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      "text": "\"They figure out from their rep \"What does he [the doctor] like?\" Companies use those levers to engage with you and say \"Yeah, we got these opportunities, would love to get you on board\" and talk about those things.\" - KOL and one of Nevro's highest volume implanters",
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      "text": "\"I know a doctor down the block who was doing a lot of Nevro. He only does procedures when he gets the dole. You have to grease him to get his business. I don't operate that way and everyone knows it. Consulting is one way, teaching is another. You can get a ridiculous amount for teaching. Then they have these round tables that are junkets.\" — KOL; \"Nevro will put doctors on studies because it's a way to boost income in their practices. They'll throw a lot of money your way. They'll put you on these consulting contracts and give you a bunch of speaking things and everything else and it's basically like a reward system. If you're doing a lot more Nevro, you get more speaking engagements. [Name redacted] gets a ton of seeking opportunities because they know he's very influential in the field. Nevro was giving [name redacted] easily a hundred fifty thousand dollars a year and they gave him stock, so you can look that up. He openly has stock, to keep him implanting [Nevro's device].\" — High volume KOL and former Nevro user; \"They figure out from their rep 'What does he [the doctor] like?' Companies use those levers to engage with you and say 'Yeah, we got these opportunities, would love to get you on board' and talk about those things.\" — KOL and one of Nevro's highest volume implanters",
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