Traders News Source Senior Editor Mark Roberts Interviews Tom Vo CEO of Nutex Health, Inc. (NASDAQ: NUTX)
Tom Vo, M.D., MBA
CEO & Chairman of the Board
Dr. Vo brings more than 25 years of expertise in the Business of Medicine to Nutex Health. He is residency trained in emergency medicine and has worked in busy hospitals and emergency centers throughout Texas. Additionally, he has been instrumental in the start-up and management of over 30 Specialty Hospitals and Emergency Centers throughout the US. He is recognized by his contemporaries as one of the pioneers and leaders in the field. In 2020, Dr. Vo received the prestigious EY Entrepreneur Of The Year® award, where he went on to become the National Finalist.
Dr. Vo’s affinity for helping others inspired him to study medicine. He graduated from Kent State in 1992 and Northeastern Ohio University’s College of Medicine in 1996. In 1999, he completed his Emergency Medicine Residency at William Beaumont Hospital in Royal Oaks, MI. In 2004, Dr. Vo received an MBA from Rice University to learn more about the business side of medicine.
Thank you giving us your time to answer our questions.
Could you give us a brief overview and future vision for your company?
Nutex Health is a physician-led, technology-enabled integrated healthcare delivery system comprised of 21 micro hospitals and primary care-centric, risk-bearing physician networks. Nutex was founded in 2011, is headquartered in Houston, Texas, has over 1500 employees, is partnered with over 800 physicians and currently operates in 9 states.
Our vision is to scale our integrated care delivery system nationwide and to operate over 100 micro hospitals within the next 10 years. Our affiliated risk-bearing medical groups, comprised of primary care physicians and specialists, as well as our own patients, would be wrapped around our hospitals. We believe that this integrated care delivery model results in both higher-quality but also more efficient care for our patients, and also creates an optimal work environment for our nurses, physicians and other employees. Finally, the goal of our management team and Board is to create value for all of our shareholders.
NUTX operates a growing number of micro hospitals. Can you describe them as to size, bed capacity, employees, and services offered?
Our micro hospitals provide 24/7 care and are equipped with CT, MRI, x-ray, ultrasound, lab and inpatient pharmacies. Most of our hospitals average 8 ER beds and 4-10 inpatient beds, although our largest hospital has 44 beds. Our emergency rooms can handle almost everything that larger hospital ERs manage. Our inpatient hospital units are capable of treating the most common medical illnesses as well as behavioral conditions. We do not provide ICU services, surgeries or obstetric services, although some of our hospitals have operating rooms.
A typical Nutex hospital has about 50 full time and part time employees, and about 10-20 physicians on staff.
Do NUTX owned facilities accept most insurance coverage, both private and Medicare/Medicaid?
Yes, we accept all commercial insurances. and in some selected hospitals we accept Medicare. Note that our emergency rooms will treat all patients, regardless of insurance, including uninsured patients.
What portion of NUTX revenues comes from the hospital facilities you own verses the services your company provides to other organizations?
Approximately 90% of our revenue currently comes from our hospitals.
Aside from technology, what would induce an independent physician to become a part of a NUTX IPA? (NTD: Warren can you modify/expand?)
- Ability to expand their practice with broader service offerings and increase practice revenue
- Benefit of having our experienced Management Services Organization (MSO) handle the non-medical portions of the practice thus enabling the practitioner to allocate more of their time to the highest quality patient care.
- Benefit from the economies of scale by being part of a larger organization.
- Equity in the public entity through stock and stock options which enables the independent physician to benefit from Nutex’s consolidated growth.
- Part of a larger geographic group of physicians for exchange of ideas and best practices.
- Access to our payor contracts and ability to receive lucrative monthly capitation payments.
NUTX is described as a “technology-led” company. Which aspects of the company operations involve technology that your competition doesn’t utilize?
Most aspects of our company are technology-enabled including our revenue cycle management and radiology department, just to give two examples.
Also, our cloud-based population health management (PHM) platform enables our physicians to provide value-based care.
Is NUTX utilizing any proprietary technology that might be patented?
Our proprietary cloud-based population health management platform extracts claims and clinical data from multiple claims and EHR systems, which it then uses to report clinical quality measures, gaps in care, risk-stratification of patients, generates a utilization dashboard on every provider, has predictive analytics and a provider scorecard. Our platform enables connected intelligence across the care continuum by transforming massive amounts of data into actionable insights, which helps our organization improve the quality and cost effectiveness of care and enhance population health management.
The merger with Clinigence and uplisting to the NASDAQ earlier this year were big events for any company. Congratulations. When can investors expect to see the NUTX Q2 2022 earnings report?
The SEC filing date for our 2022 Form 10-Q is mid-August.
The Traders News Team
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