Dennis McGrath: Yes, Mike, I think that’s still several quarters out. I would think we would be — actually, we’re collecting the data to be in a position to do so, but I don’t think that’s going to happen until the end ’24.
Mike Matson: Okay. I understand. And then just on the Check Your Food Tube events, I mean, it’s good to see the traction there. But I’m just wondering about kind of the scalability of that as you grow and do more tests. I mean is that something that can kind of scale with the Company?
Dennis McGrath: Definitely. I think — I thought you were going to ask the other question about whether it’s sort of cannibalizing our core business, but we love the Check Your Food Tube event. They are highly efficient. The kind of the input into a large number of tests that come out of these events in terms of the person hours of sales interaction as well as the efficiency of having our nurse practitioners or other clinicians perform the EsoCheck is highly efficient. And so it’s very scalable. I mean you typically will have an engagement with, let’s say, a fire department in a location as a prototypical example, that’s a rep and maybe their area director working with them to get this organized. We have a single person on the sales team that coordinates all of these in a fairly efficient fashion.
And then when they’re scheduled, the — we haven’t — one of our nurse practitioners or other device administrators come in, and they’re doing 50 in a day, where we’d love to have that in the more traditional environments where we’re engaged sort of more into trenches with physicians. So it really is a highly efficient and absolutely very scalable way to do this. But again, I just want to be clear, even though this wasn’t your direct question that our approach to this remains all of the above. Everything we can do, whether it’s our — in the traditional and the trenches or working with physicians and institutions working through these health events, working with employers and unions and other self-insured entities, we’re attacking it on all fronts anywhere we can enhance patient access.
So yes, it does remain — it is a very attractive modality and an efficient one that is definitely scalable.
Mike Matson: Okay. Got it. And then just finally, now that you’ve got — or you’re close to having some of the clinical utility data, do you have any plans to go back to Medicare? I understand that you’re focused on the payer, some employers and things like that, but Medicare a big opportunity. So do you have any plans to go back to them? And what would sort of be the timing of that? Or is there some kind of cycle there that you have to wait for or something.
Dennis McGrath: Yes. So I think — so yes, as you know, we’ve made substantial progress here. We have two published — of two of the three clinical utility studies are published, and so we’ll wait until the third. But the way we engage with Medicare is somewhat different than the way we engage with payers, right? The payer process is kind of more blocking and tackling pilot programs, small and regional plans, larger plans, it’s sort of a continuous process. With Medicare, it’s much more binary and so we will wait until we have all our ducks in a row, have all of the clinical utility studies published in the period literature. We’ll have some initial conversations with them in the first half of next year about how to structure our submission under the existing LCD and we may wait till later in the first half to get the results of our additional clinical validity study, the BE2 study that’s actively enrolling.
And so yes, we’ll engage with them in the first half of the year to plan that out and work towards a submission of the full package of the clinical utility and clinical utility data sometime later in the year. So that’s an active process, but it’s qualitatively different than the sort of the more incremental processes that we’re working with the commercial payers. And as you noted, just to reemphasize, a key missing element there had been the clinical utility data now that we have that moving forward and lock down the — our opportunity to reengage with MolDX is approaching.
Operator: Our next question comes from Mark Massaro with BTIG.
Unidentified Analyst: This is Vivian on for Mark. As I can see the progress with establishing claims history and clinical utility data, I guess, supporting conversations with commercial pay. You called out the revenue cycle management as well. I guess how should we think about remaining levers to pull for ASP improvement? What kind of growth we could see off of Q3 ASP?
Dennis McGrath: Yes. So the ASP growth is really just a matter of the collections against the submitted claims. First off, our price per test is just under $2,500. Medicare rate is just under $1,900 or just at $1,900. And we think that those numbers will continue to hold for us as we go forward as the benchmark to be paid against. Now we’re all out of network and at the allowable amount of ’18, just under $1,900 were kind of out of network, not in coverage policies by the private pay. We think that’s an indication that, that becomes a pretty good floor for us. So in terms of actual revenue recognized divided by number of tests delivered in a quarter, we think that ratio changes purely based upon collection and the movement in the market access from out of network to in network over time. So I think that’s where you are aiming at in terms of ASP, getting to that benchmark, but we don’t see that benchmark eroding at any time soon.
Dr. Lishan Aklog: Sort of a qualitative response to that is that the levers are what we’re doing on the coverage side, which is utilizing the clinical utility data now that it’s coming out, engaging with payers on pilot programs and a variety of other ways to go to leverage that data and actually get in network coverage as we are improving collections with the processes that Dennis mentioned. So the levers are really focusing on medical policy coverage as the RCM, the revenue cycle management activity is improving and gearing up.
Operator: Our next question comes from Ed Woo with Ascendiant Capital.
Ed Woo: Congratulations on the quarter. As you guys continue to have consistent high growth and scale up the testing business in the U.S., have you thought about international opportunities?
