Scenario Controls

Avg Monthly Procedures
65.9
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Revenue / Procedure
$2,405
COGS / Procedure
$364
Stabilized EBITDA
$69,625
Y1 Total Revenue
$1,902,002
Breakeven Month
Month 5
Market:
Varithena Adoption:

DTC Funnel

ParameterConservativeBaseAggressiveHybrid
Cost Per Lead ($) $60$60$45$60
Contact Rate53.0%53.0%68.1%53.0%
Booking Rate60.0%60.0%70.0%60.0%
Show Rate78.0%78.0%85.0%78.0%
Treatment Conversion65.0%65.0%75.0%65.0%
Procedures / Patient3.081253.081254.108753.08125
Max Capacity / Month146

Reimbursement

ParameterConservativeBaseAggressiveHybrid
Medicare Rate ($) $1,408$1,408$1,408$1,408
Commercial Multiplier (legacy)1.4961.4961.4961.496
BCBS Multiplier1.3
Other Commercial Multiplier1.58
BCBS Share of Commercial30.0%
Medicare/Gov Mix25.0%
Commercial Mix75.0%
Management Fee Rate8.0%
Credentialing ramp applied: full commercial access Month 7+

Procedure Mix & Supply Costs

ParameterValue
VS Mix65.0%
RF Mix10.0%
Sclero Mix0.0%
Varithena (36465/36466)25.0%
Mix total100.0%
VenaSeal Unit Cost ($)$900
RF Supply Cost ($)$120
Sclero Supply Cost ($)$120
Drug cost/procedure ($)$150
Waste Factor7.5%
Misc Consumables ($)$15
Post-Proc Support ($)$17.5
VenaSeal Pts/Kit2.5

Personnel & Fixed Costs

ParameterConservativeBaseAggressiveHybrid
Physician Salary Y1 ($)$200,000
RVT Salary ($)$124,800
MA Salary ($)$54,000
Front Office ($)$42,000
Payroll Tax Rate15.0%
Benefits Rate25.0%
Rent (monthly)$8,500
Malpractice (monthly)$1,200
EMR (monthly)$800
Billing (base monthly)$1,500
Billing % of Gross Rev2.0%

Volume Growth

ParameterConservativeBaseAggressiveHybrid
Y2 Volume Growth 39.0%39.0%55.0%39.0%
Y3 Volume Growth 40.0%40.0%55.0%40.0%

Payer Mix

PayerWeightEffective
Aetna14.0%14.0%
BCBS32.0%32.0%
Humana12.0%12.0%
UHC18.0%18.0%
Medicare24.0%24.0%
Payer total100.0%100.0%
Source: Procedure Intel Referral Tracker

Varithena Rates by Payer

CPTAetnaBCBSHumanaUHCMedicare
36465$1,320$1,450$1,290$1,380$1,300
36466$1,420$1,560$1,380$1,490$1,400