The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Scott Henry - Alliance Global Partners - Analyst
: Thank you. Good afternoon. I guess, Brad or Kirk, how should we think about fourth quarter sequentially from third quarter? We're halfway through
right now, it sounds like the new model is getting traction, but it's unclear how much will be impacted in that quarter. What can you tell us how
we should think about it sequentially?
Question: Scott Henry - Alliance Global Partners - Analyst
: Okay. Thank you for that color. And then Brad, in the third quarter, there was still this big bolus from VIP revenue that came in since the number
was flat despite dramatically fewer VIPs. Is that sort of an accounting catch up? And when we get in the fourth quarter, should we expect the
revenue to reflect the number of VIPs coming in? I mean, basically that that line should fade to, I imagine, close to zero over time. And should we
start to see that in Q4?
Question: Scott Henry - Alliance Global Partners - Analyst
: Okay. Thank you. That's helpful.
Question: Scott Henry - Alliance Global Partners - Analyst
: Okay.
Question: Scott Henry - Alliance Global Partners - Analyst
: Okay. Final question with the new model, obviously, Colorado is close proximity to you, but certainly no monopoly on sleep apnea. When would
you expect to start venturing out geographically to some other high volume areas.
Question: Scott Henry - Alliance Global Partners - Analyst
: Okay, well, thank you for taking the questions.
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Thank you. Hi, guys. Congratulations on your progress.
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: So okay, I had a couple of questions on the sleep centers. Just to clarify, how many are you active in now? Is it two?
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Okay, so two additional. And you had talked last quarter about like a horizon of six or eight that you were targeting, over what time frame would
that be?
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Oh, you're on track, Kirk. because this gets into my next question, which is the business model for the new marketing strategy. Did you say that
typically the patient would buy -- we just buy the outright and therefore you get a higher ASP for that or maybe a payer would buy it, as opposed
to the, the VIP model where they would have to go through the dentist and then the dentist would take a cut. But can you just clarify, how the
sales part of it works?
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Yeah. So it's actually similar to the [Veep] thing where you're essentially selling to the clinic or the provider and then they're selling to the patient.
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Okay. All right, just switching gears.
What -- did you say that you expect revenues to go up in the fourth quarter? Could you give more -- could you expand on your outlook for revenues
going forward?
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Okay, great. Thanks, Kirk. I know those are tough questions to answer.
Last question, about some of your other marketing channels that you've talked about. The DMEs, the DSOs, the International, how do they fit in
with the new focus on the alliances -- with the physician alliances in the sleep centers?
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Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: That makes so much sense That you would be focusing on the people that are specialists in sleep, as opposed to dentistry where the apnea is kind
of tangental to what they do.
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Okay. If I could just get one more in the CPT codes, that seems like a really great thing. How can you quantify the incremental revenue impact of
having those codes?
Question: Lucas Ward - Ascendiant Capital Markets, LLC - Analyst
: Okay. Fantastic. Thanks, guys. Appreciate it.
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