{ "docId": "019dd923-622c-750b-8b9a-2a2468219173", "docSlug": "ce565b841c40", "documentTitle": "Nevro Corp. (NVRO)", "authorId": "58_Scorpion_Capital", "authorName": "Kir Kahlon", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-01-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 228, "pageCount": 239, "prevPage": 227, "nextPage": 229, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 0, "notes": "Uses KOL (Key Opinion Leader) quotes to frame the company's business model as exploitative.", "elementsJson": [ "headline_text", "bullet_list", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-2a2468219173/228", "deckHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173#slide-228", "components": [ { "bbox": null, "kind": "callout", "text": "KOL's indicated that the problem is so pervasive that patients are then stranded and dumped as the doctor who did the trial has no desire to do a permanent implant.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-3f3d-76db-b34a-b9f9975bf6fe", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.88, "x": 0.06, "y": 0.52 }, "kind": "list", "text": "Another outlined a pervasive pattern of doctors pushing trials onto patients who “shouldn’t be implanted,” fueled by sales reps, and then stranding them.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8ae24bf7-3e41-4e54-9b35-16f3de504912", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.88, "x": 0.06, "y": 0.25 }, "kind": "list", "text": "A KOL indicated that while doctors always make money on trials, it's hit or miss for permanent implants by payor, creating incentives to dump the patient after the trial.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c09eec4c-0fd3-4e17-a33c-108cd6f33ce4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.88, "x": 0.06, "y": 0.13 }, "kind": "paragraph", "text": "KOL's indicated that the problem is so pervasive that patients are then stranded and dumped as the doctor who did the trial has no desire to do a permanent implant.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "38e18aac-1daa-46d0-85c6-6c6cb19947a5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.83, "x": 0.11, "y": 0.33 }, "kind": "quote", "text": "With the trials, you always make money. For the implanted device, it really depends on which payor... If a trial is done somewhere else and we do the implanting, the hospital will lose money, so there are a lot of situations like that.", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c7369610-ec33-405b-aa87-2836532466a4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.83, "x": 0.11, "y": 0.6 }, "kind": "quote", "text": "I get patients for implants that, quite frankly, shouldn't be implanted... They're all out there. They're all the reps. They all get paid on commission. What they're doing is, \"I'll do the trial and make money in my surgery center.\"", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cf72ca3d-4bf1-4bfc-8249-94c735889a3d", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"With the trials, you always make money. For the implanted device, it really depends on which payer... If a trial is done somewhere else and we do the implanting, the hospital will lose money, so there are a lot of situations like that.\" — KOL; \"I get patients for implants that, quite frankly, shouldn't be implanted... What they're doing is, 'I'll do the trial and make money in my surgery center. I don't want to do the implant because I'm not going to make money on it.'\" — KOL", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-3f3d-76db-b34a-becb196e88b5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.06, "y": 0.96 }, "kind": "source-note", "text": "Source: Consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "dccde88c-19e2-450b-98a2-54dafa76fac4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.88, "x": 0.06, "y": 0.09 }, "kind": "title", "text": "18, Over-utilization, unnecessary implants, and patient exploitation are key drivers of Nevro's sales", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "63e4fdbc-c5a6-404f-a42c-343452e7d17b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.06, "y": 0.04 }, "kind": "title", "text": "Scorpion Capital | Nevro (NYSE: NVRO)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5c34d38d-95a3-49ce-a695-3d30fb3c651e", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "antagonist-introduction", "slug": null, "matchId": "66cd8ac5-c092-4a46-93df-1f657b9d2a9d", "evidence": "Frames doctors and sales reps as the antagonists exploiting patients for profit.", "confidence": 0.8 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }