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A lot of people on this board have some inside MDACC insight. So I have a question.
In 2012 a Chinese company, Concord Medical, obtained a 20% stake in the MDACC proton center.
In the first post of this thread, it's pointed out that PROTON THERAPY CENTER HOUSTON LTD obtained $8.4m in payments for proton therapy from the US Govt in 2018. If you trace this company you find... a Jigang Sun "Adam" of OceanPine Capital is the manager of PROTON THERAPY CENTER HOUSTON LTD (which has its mailing address as the MDACC Proton Center)...
Its NPI is 1760462709. They charged Medicare $41m in 2018 but only got paid $8.3m.
Of note, now this company has no NPI and is not listed in any further Medicare data from 2019 onwards.
I have so many questions! Like how does MDACC and Concord "split the profit" in that proton center. Is is 80/20? Let's be totally irresponsible and sensationalistic and assume they do. First, the $41m in charges is telling. MDACC is charging about 4x Medicare rates for protons. We can assume this is what they charge insurances and let's assume they get 3x Medicare from insurance. Let's assume that only 1/5 of their business is Medicare. A little back-of-envelope calcs can then tell us that the MDACC is pulling in $150m-$200m annually. And as I hear tell that's for only about 800 patients annually. This would average $250K per patient in reimbursement, across all patients, at the MDACC proton center.
In 2012 a Chinese company, Concord Medical, obtained a 20% stake in the MDACC proton center.
In the first post of this thread, it's pointed out that PROTON THERAPY CENTER HOUSTON LTD obtained $8.4m in payments for proton therapy from the US Govt in 2018. If you trace this company you find... a Jigang Sun "Adam" of OceanPine Capital is the manager of PROTON THERAPY CENTER HOUSTON LTD (which has its mailing address as the MDACC Proton Center)...
Proton Therapy Center-Houston Ltd LLP - Company Profile and News
Company profile page for Proton Therapy Center-Houston Ltd LLP including stock price, company news, executives, board members, and contact information
www.bloomberg.com
Adam Sun - Oceanpine Capital
Mr. Adam Sun is the managing partner of Oceanpine Capital, as well as the managing partner of Oceanpine Healthcare Fund, a dedicated healthcare-focused RMB fund.
www.oceanpine.com
Its NPI is 1760462709. They charged Medicare $41m in 2018 but only got paid $8.3m.
Of note, now this company has no NPI and is not listed in any further Medicare data from 2019 onwards.
I have so many questions! Like how does MDACC and Concord "split the profit" in that proton center. Is is 80/20? Let's be totally irresponsible and sensationalistic and assume they do. First, the $41m in charges is telling. MDACC is charging about 4x Medicare rates for protons. We can assume this is what they charge insurances and let's assume they get 3x Medicare from insurance. Let's assume that only 1/5 of their business is Medicare. A little back-of-envelope calcs can then tell us that the MDACC is pulling in $150m-$200m annually. And as I hear tell that's for only about 800 patients annually. This would average $250K per patient in reimbursement, across all patients, at the MDACC proton center.