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  "documentTitle": "Nevro Corp. (NVRO)",
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  "authorName": "Kir Kahlon",
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  "notes": "Uses testimonial evidence to frame the company's business model as unethical.",
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      "text": "One estimated that 25-50% of Nevro’s revenue comes from surgery centers pushing patients into \"one stimulator and then another and then another.\"",
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      "text": "A former Nevro territory manager, part of the original launch team and one of the most experienced reps in the SCS industry, estimated that 25-50% of the company's revenue comes from pushing replacement devices via ASC's seeking to profit.",
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      "text": "A former Nevro sales rep \"didn't like the ethics\" of the company's push to sell upgrades, subjecting patients to infection risk from repeated implants in the same location",
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      "text": "Aside from pushing trials and permanent implants onto patients who don't need them, former Nevro sales reps described another troubling revenue driver: pushing unnecessary implant upgrades. Reps questioned the ethics of the company's push, stating that repeated implants and removals at the same site led to infection risk. One estimated that 25-50% of Nevro's revenue comes from surgery centers pushing patients into \"one stimulator and then another and then another.\"",
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      "text": "\"Yes, yes, yes - some of the growth is that patients are getting one stimulator and then another and then another as the new ones come out. I don't think Nevro, coming out of the gates in 2015, thought a lot of the market was repeat business. I think they didn't learn that until they started down the road of being in the business of it. I'll be conservative and say 25% of the market is repeat business and the more aggressive number is 50%. Why? Because if you're an ASC owner, by changing the battery, there's revenue involved. If you don't change the battery, there's only the professional fee and a small fee for doing the movement of the battery.\" - Former Nevro territory manager",
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      "text": "\"We were pushing replacements of old devices. A number of things can go wrong when you open up the pocket where the device is implant. You're automatically not MRI-compatible and these patients need MRI's. There was a push to sell upgrades when I was there. I didn't like the ethics. There's infection risk when you do the surgery.\" - Former Nevro sales rep",
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      "text": "\"Yes, yes, yes - some of the growth is that patients are getting one stimulator and then another as the new ones come out... I'll be conservative and say 25% of the market is repeat business and the more aggressive number is 50%.\" — Former Nevro territory manager; \"We were pushing replacements of old devices... There was a push to sell upgrades when I was there. I didn't like the ethics. There's infection risk when you do the surgery.\" — Former Nevro sales rep",
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      "text": "18, Over-utilization, unnecessary implants, and patient exploitation are key drivers of Nevro's sales",
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      "text": "Scorpion Capital | Nevro (NYSE: NVRO)",
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