Lishan Aklog: Can I reemphasize that? I think the way we look at that $1,800 is pricing, right? So we feel like, okay, we’re getting allowed claims about half the time and the price that they’re sort of acknowledging, pricing in the vicinity of Medicare, which is great. Now if this is the high deductible patient, patient with a high deductible plan in January, that’s – the patient responsibility could be all of that. And so that’s not necessarily what we’re going to – the proportion of that average $1,800 that gets converted into revenue is really highly uncertain at this point. But what we’re gratified by and what we’re gratified in terms of the stability of is that pricing, the acknowledgment sort of that’s an acceptable price, that’s an allowed price which we can build our models around.
But we still have time to see – we still have to see where – what the – how much that allowed amount translates into payment. And it’s not easy to track, right, because it’s a stuff that’s a bit out of phase.
Anthony Vendetti: Sure, sure. That’s definitely helpful color. And then my last question is around your marketing efforts. I look at as a three-pronged effort between the CheckYourFoodTube events that you’ve discussed, your Lucid test centers and then your satellite offices. As you move — as we move through 2024 and go into 2025, how would you look at as best you can forecast the breakout on what’s driving more patients? Yes, sure, go ahead. Thanks.
Lishan Aklog: That’s great. I’ll maybe tweak it a little bit just to focus on what is the patient acquisition strategy in those cases, right? So what you described is really sort of more of the cell collection location like how – where we’re actually doing the cell collection. And they’re very much interrelated. And as you’ll sort of know from my comment here that some of this is kind of starting to melt together. But the patient acquisition around our sales force calling on physicians in various settings and getting them to order the test that still represents a 70% or so of our activity. And of that, about 70% of that is being performed in the satellite test center model where our practitioners will show up at a physician’s office on a regular schedule basis and do the testing there.
So think about the patient acquisition and sort of how is the cell collection stuff being handled. That’s — so that’s that. About a third of our volume right now is in these – where the patient acquisition is centered around the CheckYourFoodTube event where we are engaged with the firehouse or now increasingly other types of entities, where we schedule a health fair type of event and do the testing accordingly. It’s not a result of a direct sales call by our sales folks, right? And there, the cell collection is in the CheckYourFoodTube setting. Now the third area, which I would encourage you to think of as a separate area that’s now starting to kind of meld with the CheckYourFoodTube events, is the direct contracting side. So when we engage with, let’s say, an employer, that – through a direct contract that – the patient acquisition is done.
That’s the – we have the contract, and there’s a number of people who are indicated for testing based on guidelines, we based – strictly on guidelines and we proceed to test them in a way that’s very similar to the CheckYourFoodTube events. We literally show up at their physical employer locations and test people at offer structure. So the patient acquisition side, it’s direct contact with — direct contact and engagement with physicians. A traditional sales process, looking for CheckYourFoodTube events through our engagement with fire departments and others and then its broader direct contracting pathway. Does that make sense? Again, slight difference between patient acquisition and the site, and where the cell collection is actually kind of is sort of a matrix of actual collection.
Anthony Vendetti: Yes. No, Lishan, that’s very helpful color. Just lastly, on the contracts with employers or commercial insurers. Is that – would you still say that – is that in the nascent stage? And is that something – I know it takes sometimes a while because they each have their own processes. But is that something that you expect to accelerate as you move through this year and into 2025?
Lishan Aklog: I think all of the — answer to all is yes. So it’s in the early stages. We hired our first person dedicated to this just in November. It seems like it’s longer than that, but in November. And he’s filled out the pipeline with regard to engagements with brokers, their part administrators, entities like the 9/11 Fund and the residential communities, that pipeline is filling up very fast. So to the point where we actually are going to hire a second person to help him with that. But as Dennis mentioned, the cycles for these are longer than just converting an individual physician account, right? And so — and to some degree, they can be a little bit lumpy around open enrollment periods twice a year, particularly those that are related to benefit packages, right, where you have to line up – has to align with open enrollment.
So very busy. The pipeline is filling up, putting more resources into it, but it’s longer lead times. But despite all that, we – really do expect to start seeing some runs across the plate in the coming quarters, both in terms of test volume and revenue and contracts executed.
Anthony Vendetti: Excellent. Thank you so much for the call. I appreciate it. I’ll hop back into the queue.
Lishan Aklog: Thanks, Anthony.
Operator: Your next question comes from the line of Mark Massaro from BTIG. Your line is open.
Vidyun Bais: Hi, guys. This is Vidyun on Mark.
Lishan Aklog: Hi, Vidyun. How are you doing?
