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

Lishan Aklog: Correct, yes. We have a good solid pipeline. We don’t have yet a sense as to what the term kind of the life cycle of customer acquisition is. We don’t expect it to be too long, but we’ll start getting some color on that. But we do have a very €“ we’re happy with the pipeline and the diversity of practices and practice sizes with it.

Anthony Vendetti: Okay, great. And then just one question on the Lucid Test Centers that that seems to be growing. Well, I was just in terms of the plan to expand test centers, do you, is that €“ has that been outlined internally or you’re holding off on that?

Lishan Aklog: Yes. I think, I say again I’m going to take advantage of your question to clarify something that I think comes up quite frequently. So a couple of things: one, is that, these other initiatives whether it’s incorporating the Satellite Test Center model where our nurses go to the physician practices and do EsoGuard days at their practices opposed to one of our physical location. These high volume testing events potentially even future horizons that we’re looking at as other ways to get access to patients. Those are all in parallel. It’s all of the above. We’re not attacking from one to the other. We’re not €“ we’re looking to just drive business across multiple, through multiple channels. On the €“ so I do encourage folks to think not in terms of sort of physical Lucid test centers translating into specific volume target.

It’s really the overall volume is coming, now coming increasingly from a diverse pathways to get patients in the door. What we did describe back in our update in conjunction with the strategic update earlier in January, is that we are going to pause the number of physical test centers for now at 13 and drive test volume growth at sort of a mid broader level while we’re garnering improved coverage and reimbursement through enhanced activity with our current sales force through increasing tenure of our sales force and being able and driving their productivity up. So this, we expect to see continued growth despite the fact that we’re keeping the, the physical test center flat. And then something I highlighted yesterday, didn’t get in today, is that the satellite LTC activity is accelerating.

So an increasing number now about a third of our overall volume and about half the volume of our €“ what our nurse practitioners are performing are in the context of a satellite center where they go to a physician’s office. So, we’re focused. So that’s one of the reasons why we’re being cautious about adding physical centers because it’s become a bit more fluid in a dynamic situation, and we think there are opportunities for growth that come from the expanded geographic, out geographic reach of our nurse practitioners. So, I would encourage you to think more in terms of the bodies, how many nurse practitioners, how many sales reps and how is that personnel driving test volume growth as opposed to the physical standards. Does that make sense?

Anthony Vendetti: Great. That was helpful. Yes, absolutely. Thank you so much. I’ll hop back in the queue. Appreciate it.

Dennis McGrath: Great. Thanks.

Lishan Aklog: Thanks, Anthony.

Operator: And our next question comes from Ed Woo with Ascendiant Capital.

Lishan Aklog: Ed. Good morning.

Dennis McGrath: Good morning, Ed.

Ed Woo: Yeah, congratulations on the progress. I know you guys are focusing your resources on the more immediate projects, but have you guys thought about international opportunities for either Lucid or Veris?