Viemed Healthcare Inc VMD

Patient count increase

[donmayne]

Their Feb 2022 investor presentation deck states "over 35,000 patients".  The August 2021 through to January 2022 investor presentation decks were all at "over 30,000 patients."  The July 2021 deck had "over 27,000 patients."

This suggests an average increase of 5000/7 or 714 each month during the last 6 months.  

The average monthly client revenue is stated in the February deck as $950/mo which translates to $678,000 added to core business revenues each month or roughly a 30% per annum growth rate on core revenues.  

The last six months were all in the midst of the pandemic so a go forward growth rate will likely suggest something higher than 30% revenue growth.  

If this is properly articulated, it could easily trigger an expansion of their P/E multiple.

[donmayne]

oops...I miscalculated.  It only represents a 7.5% annual growth rate of core revenue.  But alas, it is during the Covid period.  

[donmayne]

oops, I think I am wrong again.  I will let someone else do the math!

[JackLambert]

I've never quite understood this part.   If we had 8000 copd patients last year and have 8500 now how many have we added?    Is it just 500?   Or did most of the poor folk who have this disease die during the year and get replaced - in which case we added about 8500 new. My understanding is that this is palliative so most die within 12 months.  if it's the

[LongTerm3]

I never quite understood that number.

[lscfa]

It use to say 19,000 patients before it jumped to 27,000 patients. These increases have to be for lower revenue oxygen patients and not high revenue vent patients.   

[lscfa]

  Qtr ending Vent patients Vent rev Other core rev Covid rev Total rev Vent rev growth Other core growth Dec 21     0  

[JackLambert]

What an excellent segmented analysis.    Very useful.   We are actually growing quite well in the face of challenging viral conditions. 

[JackLambert]

And the 5% bump in revenues will further help this year.  

[donmayne]

Very helpful.  Thank you for the clarification.

[LongTerm3]

I just heard that most oof these patients can be for low cost supplies. I would not pay attention to this number. The vent count is the big one.

[JackLambert]

Cash flow mon vieux cash flow.   What's the difference between a dollar and ten dimes? wrap internet reorder and a distributed low capital cost sales force and you have a nice cash generator.  

[JackLambert]

But it's a lot of easy recurring business with little overhead since we are going in anyway to many.   A nice compliment to the core business.