Diagnostic Giant Lumexa Set for Nasdaq Launch

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Watch Diagnostic Giant Lumexa Set for Nasdaq Launch - Bloomberg on Dailymotion

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00:00Thank you so much, Matt. I'm so honored to be here. And what an exciting day for Lumexa Imaging.

00:05Diagnostic Imaging is a rapidly growing landscape. It's $140 billion TAM with a 4% growth CAGR,

00:13all driven by advancements in treatment paradigms that require access to advanced

00:18imaging. And so with our IPO proceeds, we'll have improved cash flow that allows us to seize the

00:25moment and continue to invest in our current centers, as well as add new facilities to our

00:29portfolio. What about an AI strategy, Caitlin? Everybody needs one, regardless of what your

00:34company is, but especially with imaging and radiology. Where are you going moving forward

00:39with the technology? I completely agree, Danny. AI is important in every part of healthcare,

00:45but especially radiology. If you ever needed an MRI, you would need to go to a facility that's

00:51got an expensive machine behind magnetic safe walls that has a tech who's certified to put you into the

00:57machine. That's hard to disrupt. But AI makes every part of that process for us better. How we get

01:03more patients, how we approve the efficiencies of our machines and our centers, how we support our

01:09radiologists in doing the reads, and then how we continue to bring efficiencies to things like

01:13revenue cycle and our call center. So what are you looking at in terms of disruption? Because this is

01:20an industry where prices just continue to absolutely soar and specifically, you know, MRI is a place

01:28that is extremely expensive. I could not agree more. And one of the best parts about Lumexa imaging

01:35is that the centers we operate are 60% lower cost than a hospital outpatient department. And that is a

01:42meaningful savings for our patients. And a big reason why we have a patient net promoter score of 91,

01:48which is remarkable in healthcare and really generally. Caitlin, one of the reasons I was so

01:53excited to talk to you was there was this study in Europe from over the summer that I have not been

01:58able to stop thinking about. And it came, it was about doctors detecting colon cancers after colonoscopy

02:04and looking at the imaging. Basically, 28% was their success rate just on their own doctors. You add an AI,

02:11the AI assistance bumps it up a little bit. And then they completely take away the AI. And doctors did

02:17much worse than they were doing before the assistance of AI. In other words, they became

02:22reliant on it. In this future where we are using this really helpful technology, what does it mean

02:27for generally de-skilling? Is there a real risk that a medical community becomes over-reliant on AI?

02:34Gosh, you know, at the end of the day, technology makes us better, whether it is how we do analysis and

02:41excel, or whether it's how we end up looking at our images. Our sub-specialized radiologists provide

02:47incredible high-quality care. And our goal is to make it even better for them by continuing to think

02:53through what are the AI advancements that will drive value to them, and most importantly, our patients.

02:59I want to ask about policy, Caitlin. We have evolving Medicare rules. No one really knows

03:06what the Obamacare subsidies are going to look like over the next few years. What kind of reimbursement

03:11risk or what kind of reimbursement opportunities do you see? Yes. So Lumexa Imaging, our centers are

03:17the value-oriented center in any market. When we have conversations with payers, they are delighted to

03:23see us into the market because we're providing the exact same service, the same machines, the same scans,

03:30often even the same radiologists as the hospitals, just at a 60% lower price point.

03:35Can you be in the same network? You know, if I go, I'm a Mount Sinai guy. I don't know if that's a

03:40HIPAA violation, me saying that out loud. I don't think you can violate your own. I like to be in the

03:45network because my doctor then can see in the same, like, website all of the data. How do you deal with

03:52that issue? Yes, Matt. We work with our health system partners and are referring physicians to make

03:59sure they always have access to your images, to your radiology read reports. And we have been blessed

04:04with eight incredible joint venture health system partners that are also helping us continue to

04:10think through how do we expand, serve their patients, and integrating with their medical

04:15records is a huge part of that solution. You know, not too dissimilar, Caitlin. It does feel like a world

04:19where people are increasingly price sensitive, both on the payer and on the patient side. How do you

04:24protect margins as that evolves? Absolutely. So when we think about meeting our patients where they are,

04:30we have incredibly flexible schedules. We will have, within our centers, hours typically seven to

04:36seven, often even later in the day. We will do weekend shifts. And at the end of the day, when we

04:42are able to provide more scans to more patients, that drives our financials. Caitlin, what was your

04:49thought process before going public or while you were going through this? Because a lot of companies

04:54now choose to stay private longer. You know, IPOs, we're looking at a little bit of a resurgence, but

05:01it still is a complex issue that you need to deal with with your shareholders. How did this work out

05:09for you? We had such incredible discussions through the entire IPO process with investors that saw the

05:16value that Lumexa provides, understood the dynamics in our rapidly growing industry, understood

05:22the growth opportunities in front of us. And they were really excited to support us. And being public

05:28allows us to accelerate what we're already really good at.

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