PAVmed Inc. (NASDAQ:PAVM) Q4 2022 Earnings Call Transcript

Dennis McGrath: Yes, so Frank, the collections are much more regular now, daily. They tend to be chunky at times. Some days with bigger volumes, it’s still fairly unpredictable. We think that this year’s growth rate will certainly have a higher percentage of collections than we’ve experienced both in the fourth quarter and even so far this quarter. Our internal models, given what we expect the improving landscape for reimbursement, we’re on target in the first quarter. And we’ll report on that as we move forward. But we are seeing more regularity of deposits on this. And the payment rates are holding both on a contracting basis that are north of the Medicare rate, and those payments we’re getting from places like United are at the 60% of the list price as the perfunctory out of network kind of amounts.

That will improve as clinical utility data comes on board. And we start to engage the Chief Medical Officers with that discussion. Early on with retrospective data and then followed up with prospective data to get in network contracts for the big companies.

Lishan Aklog: I think I’ll use your question, Frank, just to highlight some, what other thing that we discussed yesterday, but just to highlight it for the current group here, which is that it’ll be. We’re going very carefully monitor how the sort of new horizons as I’d like to sort of describe them. The non-traditional horizons of used of these high volume testing day events, as well as direct contracting will play out with regard to the proportion of tests that we do that get reimbursed today, as opposed to sometime in the future. And the reason why we have some optimism in that, although we don’t have the data yet, we’ll track that closely, is that unlike with a traditional payer where the first interaction we have with them is really them seeing 5,000 to 7,500 claims show up on their radar and them saying what is this test, I’ve never heard of it.

And then having the conversation to bring them in the loop and get them to understand the clinical value and the clinical utility. So that’s a different type of conversation than these testing events where generally like for example, with regard to the firefighters and future firefighter events that we’re now looking to set up. We are engaged with the leadership of the fire department and the unions. And these are typically self-insured entities operating under an ASO structure where these are being set up as a partnership, so they know who we are. It’s not a surprise when these tests come through the billing process. So we have to see, and we’re going to monitor it, but we have some optimism that those events as well as the direct contracting will enhance our €“ the overall collection rates in the near term.

Dennis McGrath: We’ve submitted claims to almost 200 insurers, and each one’s a little bit different. So trying to aggregate general statement in terms of where we’re at in total becomes a little bit of a challenge still yet but that data is improving and that data will become more relevant as we continue to move through this process.

Frank Takkinen: Got it. Okay. All very helpful color. Thanks for taking the questions.

Lishan Aklog: Great. Thanks, Frank.

Operator: And our next question comes from Anthony Vendetti with Maxim Group.

Lishan Aklog: Anthony, good morning.

Dennis McGrath: Hi, Anthony.

Anthony Vendetti: Good morning, Lishan. Good morning, Dennis. Thanks. Just a couple questions on the various cancer care platform. So I know the €“ it might be a little bit lumpy, but is the expectation that the enrollment of patients will ramp every month or could it vary throughout the quarter? And then is there an expected range of patient enrollment by the end 2023, or is it too early to try to gauge that?