Good morning, everyone. My name is Lisa Gill. I'm the Healthcare Services Analyst at JPMorgan. It is with great pleasure this morning we have Option Care join us. CEO John Rademacher will start with comments, and then he will join myself and CFO Mike Shapiro for a Q&A session. John?
Thanks, Lisa. Before I get started, a couple housekeeping items. First and foremost, in today's presentations and comments, we may make some forward-looking statements. These statements are subject to uncertainty and risks, for ability to go out and take a look at our investor relations website or S.E.C. filings to understand those uncertainties and risks. With that, I'd like to start with a little bit of background for those of you that are not familiar with the Option Care Health story. As an organization, we are the nation's largest provider of home infusion and alternate site infusion services. The organization is licensed in all 50 states. As you can see by the coverage map, we have full coverage. About 96% of the U.S. population is covered by our infrastructure.
We are in all 10 of the top 10 payer networks, and we love the independence that we have because our ability to work closely with those payers, as they're thinking about their programs and the needs of their members, it allows us to innovate and work closely with them. We have over 4,500 clinicians across the country, this is pharmacists, pharmacy technicians, dietitians, and nurses. A lot of our work is really aligned in making certain that we're leveraging those clinicians to the highest level of their licensure and focusing around higher level of acuity of care, in the home or in our infusion suites. With the infusion suites, we have, you know, now over 165 locations in which we operate infusion suites.
We have about 550 chairs that are available to patients. We're starting to utilize that in a much more robust way as we're building out our infrastructure accordingly. We have dedicated commercial teams that focus both on patients that are being discharged from the hospital or those coming out of the acute care setting, looking for that transition into the home, as well as a dedicated team that is calling on physician practices and specialists in order to identify patients that have chronic conditions. Our footprint, our scale, our infrastructure, and the technologies that we've invested in allow us to be seamless in that transition of care and also to be able to leverage the infrastructure and leverage our team to the fullest.
Since we became public in 2019 in Q3 as part of a merger with BioScrip, we have continued to be able to deliver on acceleration of growth. And when you look at since that merger, both on the top line in our ability to deliver that growth from revenue, but also creating leveraged EBITDA growth, is something that we're really proud of. As an organization, we aligned at part at that point of the merger to really look for ways to optimize that platform, to realize synergies both from cost as well as revenue, and to put ourselves in a position to be the partner of choice with the referral sources as well as payers in the marketplace.
As you can see, not only were we able to continue to accelerate that top-line growth, but the ability for us to leverage the infrastructure, tap into the technologies that we had invested in, and start to drive productivity and efficiencies across the board allowed us to expand EBITDA margin from 5.6%- 8.4% in the third quarter. We also, through that period of time, have really focused around revenue cycle management and making certain that as we're focusing around our efforts, that we're converting every claim to cash, and that when we start with the process of a referral, that that perfect referral begins at that point of entry into our system.
We're always thinking about what it takes to convert that claim to cash to make certain that we're doing everything we need to to have the appropriate documentation and authorizations and working in partnership with the payers through that process to really increase the ability to capture that cash and drive cash flow. Mike and I talk a lot with our team around, you know, EBITDA doesn't, you know, pay light bills, cash does.
The focus for the organization to make certain that we are able to drive that cash flow is something that really has allowed us to strengthen our balance sheet, to be able to utilize that cash to not only reset the strength of that balance sheet, but also have flexibility as we're looking forward, based on the move from a leverage profile that was 6.2 at the time of the merger to the end of the third quarter at 2.5x. Really proud of that and the direction that we're going. We're not in a position to really disclose anything about the fourth quarter or provide any guidance for 2023, but again, just reiterating some of the strength of the performance on the third quarter.
We continue to see, you know, mid-teen growth in revenue, continue to expansion in our EBITDA margin. As an organization, continue to focus around the execution and be able to work aggressively at thinking about how do we look for offsets for some of the inflationary pressures that are affecting everyone in the marketplace. As I said, cash flow generation continues to be very strong, our ability to continue to, you know, reduce the leverage profile and have cash on hand to give us flexibility as we're thinking about opportunities to continue to invest in the business and look for opportunities for expansion in inorganic ways has never been stronger.
With that, again, as part of that expansion, we announced that we acquired a provider of home infusion services, Rochester Home Infusion, based in Rochester, Minnesota. Again, a very unique platform that they had, an opportunity for us to continue to expand our reach in that marketplace. As most of you know, Rochester, Minnesota, being the home of Mayo Clinic, just allowed a deeper relationship with a really important academic medical center, as well as an opinion leader organization for us to continue to deepen our reach and leverage our infrastructure fully. Continue our path forward of looking for integration opportunities and driving a collective strength in our nursing network.
The two acquisitions that we did with both Infinity Infusion Nursing as well as SPIN, Nursing Services, allows us to have access to critical resources in the nursing area, that integration is moving on plan and in many instances ahead of plan, based on the great work of the team for that integration. We continue to invest in the infrastructure to open up additional infusion suites. That is part of a comprehensive strategy that we have to make certain that we're meeting our patients where they're at.
o expand into the areas with chronic therapies becoming a bigger portion of our portfolio, knowing that many of those patients are out doing activities of daily living, going out and working, the ability for them to have a convenient and high quality place for them to receive that care outside of the home is something that we've been building towards, and again, continue to make really strong progress against. You know, we've deployed approximately $150 million through our M&A efforts in those expansions. We also had acquired a book of business from BioCure going back into 2021.
We acquired Wasatch Infusion, which is a operator of infusion centers in Utah, to really start to bolster our capabilities and bring in some expertise within our organization to think about those operations and how to drive that forward. Really pleased with the progress that we're making and the ability to take those best practices from all of these organizations and apply it to our business as we move forward. One thing that's, you know, is pretty notable on that is in these types of transactions that we do, the ability for us to retain that top talent, in many of these instances, founders, that were part of those organizations, they're still part of the Option Care Health team.
We have the ability then to leverage their knowledge and know-how throughout our enterprise as we're thinking about those best practices and how to apply them fully. As a CapEx and part of our annual process, again, we deployed about $25 million in CapEx throughout the year, and that is to continue to invest into our people, our process, our technology, our facilities to make certain that we're operating at the highest standards of care, that we're investing in the quality and into the infrastructure to allow us to capitalize on the privileged position that we have. We feel that we are in a really favorable position in a large and growing marketplace.
When you take a look at the total infusion market, we look at the world through really two lenses in our commercialization efforts. One is the opportunity for us to take share, to make certain that as we're deploying our commercial resources, we're leveraging the capacity and capabilities that we have, is that we're always out trying to look at reach and frequency of our commercial team and the opportunity to be that partner of choice, to be able to win more of the demand that's in the marketplace by the capabilities that we bring, by the capacity of our organization, and by the skill set of our clinicians.
The second thing that we look at is make share. That is working upstream with biopharma and looking for opportunities for new infused products or for products that had been infused in other sites of care to move them into the home or move them into one of our infusion suites. A lot of energy and activity around both from a business development process, working with biopharma around those new and innovative products, as well as working through our trade relations and other partnerships to take a look to see if there are additional products that we can bring into our portfolio and be able to execute well to meet the needs of the patient, the members, the payers through that process. We also like the diversity of our portfolio.
When you take a look across both the acute and chronic portfolio of therapies, a lot of diversity within that. Our ability to serve not only patients being discharged from the hospital that may need antibiotics or nutrition support or have needs for congestive heart failure. We also have a broad spectrum of chronic conditions that we're able to provide infusion services for that really meets the needs of neurologists and gastroenterologists and dermatologists. We focus really around that full, fulsome portfolio, and we like the diversity of what we have within the bag of our team as they're able to go out and call on these call points. One other item, I'm sorry, that we also like is the mix of our business.
We are somewhat unique in the sense of, because of some of the challenges with CMS in the way that they look at reimbursing home infusion, we do not have a significant amount of direct Medicare fee-for-service. As you look at the portfolio and look at the mix of our payer, about 88% of it comes from commercial payers. Part of that is Medicare Advantage. About a third of the 88% is Medicare Advantage members from a revenue perspective. We don't have a huge exposure to CMS. We've been working through a process to try to get better coverage and better access for beneficiaries from Medicare fee-for-service. At this point in time, you know, the vast majority of our revenue is from the commercial market.
When you look at the competencies and the way that we're looking at our business and how we can play a significant role, not only in infusion services, but thinking broadly around in the post-acute setting and how we can think about the outpatient market, our team is really focused around looking for those near adjacencies to continue to grow and continue to execute. Certainly, our focus is around the home. Our focus is around the depth of the relationship that we can create with those patients, the clinical competencies that we have in the practice of pharmacy and the practice of nursing, and what our dieticians do. Our ability to truly capture data, insights, information, and be a deeper member of the care team is something that we're continuing to evolve and continue to grow.
Our breadth of not only services that we have today, the strength of our network, the depth of the payer relationships that we have, and those clinical competencies allow us to have deeper relationships upstream with biopharma, with manufacturers as they're thinking about opportunities to bring products into the marketplace. As part of the investments that we're making into our nursing network, we are participating in decentralized clinical trials in support of some of those new products. Again, gives us a really virtuous cycle of being able to help support biopharma, in their needs, in being able to support their drug development and their pathway towards approval.
Also, it gives us the opportunity to learn a lot around how we need to interact with them through that process and put us in a really strong position as they're thinking about channel partners and bringing those products into the marketplace.
We've had proven, you know, capabilities to execute well on M&A, to be able to drive a focus around how do we think not only about that organic growth, but are there opportunities for inorganic, and have developed a really strong team to think about integration management as well as the project management associated with making certain that we get full value out of any of those investments that we're making from an M&A standpoint, and taking those best practices from those organizations and applying them broadly across our enterprise in a really efficient and effective manner. Revenue cycle management.
As I talked about earlier, just in our focus around making certain that we're looking at creating that perfect claim from the moment we receive the referral, is something that has proved to be extremely beneficial as we're looking at the opportunities to better partner with payers to make certain that we have clean claims through that process. That as an organization, we understand the needs that exist to make certain that prior authorizations are done appropriately, that we have all of the documentation that's necessary. Again, it's some of the blocking and tackling, but it's the execution aspect of this business that allows us the privileged position that we're in. We're doing a lot as most organizations to make certain that we're focusing around ESG and other aspects.
We really have four pillars in which we focus our efforts around. Certainly, reducing the impact on the environment is something that we look at whether we're looking at packouts and the way that we're looking to drive better outcomes from that standpoint. Caring for our patient community and making certain that we're there to support in those markets that we serve and meeting the needs of patients through that process.
Empowering our team members and focusing and making certain that we're doing things from development and training and creating career roadmaps and pathing to allow all of our team members to look at us as an employer of choice, but more importantly, have an extremely high bar for the value that we bring to them as they bring to us. Finally, looking at a responsible and resilient enterprise. Again, focusing around that sustainability and the resilience of everything that we do. As we're looking forward and really looking at the roadmap for how we create, you know, value over time, we truly believe in the organic growth of the business.
We've said publicly that we believe this is a high single digit's revenue growth that can, through the scale and the leverage opportunity that we have, you know, mid-teens EBITDA growth engine. We believe that over the midterm, that's something that the organic growth will allow us to do. We also have the opportunity to leverage our infrastructure in a greater way, think about new ways for us to capitalize on that and to make certain that we're driving productivity and efficiency in everything that we do.
As I mentioned earlier, we're investing in making certain that for new therapies and services, that we're well-positioned to be a partner of choice, not only with biopharma as they're entering new products in the marketplace, but also working with other participants, whether it's payers or others that are looking for additional or new models in which to operate as things like value-based care and other aspects enter into the marketplace. The improved capital structure that we've seen over the last three years really allows us a greater amount of flexibility to be focused around where there are opportunities in M&A and outside of that. We will take a very disciplined approach on that.
It's not our money; it's our shareholders' money. Everything that Mike and I do as we're focusing around that is making certain that it's both strategic and economic, and we have the opportunity to really capitalize on the strength of our organization and looks for ways to be to create value and a meaningful relevance with all of the key stakeholders that we operate with. With that.
Great. Thank you.
You're welcome.
For all the comments, very much. John, you know, as we think about one of the last things you talked about, and that's value-based care, it's something I think a lot of us are focused on. It's been around for 20 years, but it feels like we're finally starting to get, some amount of acceleration, is maybe the right word, as we think about value-based care, whether it's, you know, entities taking on risk. I think of your company as one benefiting from site of care from a value-based care perspective. Two, when we think about new payment models, are you seeing any changes in the market when we think about reimbursement or the role that Option Care can play, from a value-based care perspective?
I think a couple things with that, Lisa. First and foremost, the level of conversations that we're having with the payers is starting to change. We're looking at the ways for us to be a risk-bearing entity at this point in time is probably a bridge too far, given the fact that the size of our population is pretty narrow in the total spend that they have in the post-acute space. We play a very important role, especially in capitated programs, in helping to reduce the total cost of care.
Looking for different ways in which we can have shared value as we're bringing products and services that historically may have been underwater if we were trying to do them ourselves, we're getting a different level of receptivity to think differently around what is a reimbursement model for our business that would allow us to provide that value as they're looking at the total cost of care, not just the unit cost of the service that we're providing. I think we're starting to feel that. Again, it's gonna take time, and I think it's gonna be a reorientation through that process. We're, again, in pretty active conversations to think differently around the role that we can play as they're looking at the broad patient population.
Especially those that they're managing from a capitated standpoint, knowing the value that we can bring into that equation.
If I think back, you know, two years ago when we first started to reengage, I think about some of the conversations with yourself and with investors around the shift in site of care. Could it be permanent? Will the hospitals come back and try to regain this market share? You've done a really good job the last two years, not only maintaining that market share, but continuing to grow your market share. What's the current competitive marketplace like, and are they trying to regain some of that?
You know, look, it's extremely competitive, not only with other home infusion providers, but also, you know, physicians that want to hold patients in their suites as well as hospitals. I mean, one of the advantages that I think we have with some of the moves that we made, especially with our nursing network, is capacity. As much as some of the hospitals would like to try to hold revenue, they don't have the staff...
Mm-hmm.
In order to do that. Our ability to still be a partner of choice, to be able to working through that process.
Right.
I think just gives us an advantage, and we can move quickly through that process, as we're looking at how to utilize our capacity and really tap into that nursing network broadly. You know, we get paid to be paranoid. We really focus around competition, not only from those that we know, but looking at other disruptors. We're really focusing on our capacity, our capabilities, and having that access to the clinical resources that some in the some others are struggling in order to be able to fulfill those needs.
You know, we've also talked, and you talked a little bit today, about the mix between chronic and acute therapies. You've been clear that they're growing at a different rate, with higher gross margins from the acute volume growing in the low single digits and chronic care revenue growing in the low teens. How do the drivers differ for each of the therapies, would be my first question. Secondly. You know, what are some of the incremental opportunities to maybe either improve volume or improve margin in each area?
Yeah. Again, just setting the stage. Most of the acute therapies that we are able to dispense are generic or near generic at this point in time. You certainly have a lower cost. Now, the gross margin on those tends to be a significantly higher, shorter duration from the therapy set on that. We have higher turn of that patient population but have an opportunity to really do some interesting things. We think that given the investments we've made into our infrastructure, and again, as we're running our pharmacies, we're executing around operating clean rooms, doing patient-specific unit dose, a high choreograph between that compounding, dispensing, distributing, and marrying it up with a nurse. That is hard work, but honestly is something that we've perfected through the process.
We think there's still opportunities for us to focus on that and grow. On the chronic standpoint, with all of the biologics that are entering into the market, with the position that we hold, with the expansion of our infrastructure from the AIS, we think we're well positioned to be part of the channel solution for that as we move ahead. That's gonna be lower margin business just because it's branded pharmaceuticals, and a lot of those as they're innovative new products entering the marketplace, we're not gonna get a discount-
Bigger dollars.
Bigger dollars. You know, we're not gonna be able to get a discount or a rebate off of that through that process. That ability for us to make certain, and Mike and I look at all of those opportunities to really focus around what are the dollars associated with that. We get the question all the time, you know, could this be a 12% margin business? It could, you wouldn't like the growth profile. We think that when we're looking at the dollars and our ability to grow EBITDA dollars and the cash associated with that, there still is huge opportunity. Even though we may feel some top-line margin compression from a percentage standpoint, the dollars are real and something that we execute towards.
As we think about that chronic pipeline, obviously, we have a very large, big Alzheimer drug that hopefully will be coming to the market very soon. How do you think about the pipeline of drugs that are coming to the market, ones that will be beneficial for Option Care? Secondly, how do you think about the biosimilar market and the opportunity there for margin?
Yeah. you know, I think exciting news for for on the Alzheimer's front. you know, I think as a country, as, you know, humanity, the ability to start to unlock some of the process to think about what are some solutions there, we're just, you know, thrilled that those announcements are happening and that progress is being made. We had talked about this a little bit with ADUHELM when it went through the approval process, that given the fact that the vast majority of the patient population is going to be Medicare, and if that's Medicare fee for service, there isn't a reimbursement mechanism right now that would allow us to do it in an effective way. We'd be upside down if we followed the current reimbursement from CMS.
We're gonna be muted in any expectations around what the new product would do. We do believe that we're in an extremely strong position, that if we can fix the reimbursement and if we can work with payers around even the MA patients on that we have a really strong position in our infusion suites and for patients in the home, if this were to get the approval and get a national coverage determination and those types of things. We're trying to position ourselves well. We're in conversations kind of broadly on that, at this point in time, it's a little too early to tell around the impacts that that may have.
On the general pipeline, we have a dedicated team in business development that is working upstream with biopharma around any infused drug, for the most part, and the ability for us to participate in that, whether it's in a limited distribution because of the size of the patient cohort or if it has a broader patient basis to participate within that. We're pretty excited about that pipeline. We've said before, every year, we hear probably one or two product launches. These are singles and doubles. They're not home runs unless we do get something like Alzheimer's. That's part of the, you know, the continuous cycle that we're looking at the funnel management and driving that forward.
You know, everyone thinks that everything operates the same way and that, you know, if we have a 14% chronic growth, that every product moves in that direction. We have products in the portfolio that are declining. Radicava, which was an infused drug for ALS, got an oral indication last year, and they're starting to transition those patients over. That's fantastic for those patients. They needed that type of solution. We have situations where part of the portfolio is declining as others are advancing, and we need that virtuous cycle of having new products coming in, and us to start to cultivate that early in the process as we know that that maturity curve is gonna hit. In some of these, we will feel some decline over time.
Then the other question is around biosimilars. You talked about, you know, that generics are good for you. How do we think about some of the biosimilar potential opportunities?
Yeah. Again, I think, it's similar, a little bit different, but similar to generic. When biosimilars enter into the marketplace, we have an opportunity to negotiate better with the manufacturers through that process. That competition allows it. It may put some constraints on the revenue, on the top line, because again, those prices are gonna come down.
Right.
In many instances, through those negotiations, we can hold near to the economics, and it may create opportunities for expanding the patient population, through additional indications or through broader aspects on that. We look at it as in some ways neutral or slightly positive when those entrants come in and competition enters into the marketplace because it just allows us to look at the patient census that we have and negotiate a little bit stronger with the manufacturers and our acquisition costs.
How do we think about the current reimbursement environment? Your slide, you talked about that 88% is with commercial payers. Should I think of that as being kind of the traditional three-year relationship, so a third of your contracts are up for renewal each year?
No. On some of our larger agreements, we have multiyear agreements, and part of that is because if we're gonna invest with them around new programs, having some stability in that relationship allows us to invest with confidence. We have over 800 payer relationships, over 1,400 contracts. Most of those are evergreen one year, with auto renewal aspects of that. We're working constantly with our market access team, managing those relationships, looking for opportunities for improvement where we can. We get the question a lot with the inflationary pressures, our ability to take that price. We're starting that process, and we're starting to get some traction. Don't believe we have a full offset on that. We're gonna have to look at productivity and efficiency as part of that solution as well.
Our team is always cultivating and looking at that, and we get reimbursed on the three dimensions of the drug, a clinical per diem and the nursing rate. We look at those in totality, and we'll kinda modulate our negotiation tactics based on the strength of each of those as we're looking at the spreads on the drug or at the rates that we have both in per diem as well as nursing.
You brought up a good point. I think if we go back to the third quarter, you did call out pressure from staffing costs in the third quarter, having a little bit of pressure on the margin. You talked here about maybe being able to mitigate it a little bit through contracting. Can you maybe talk about some other ways to be able to mitigate some of those headwinds?
Yeah. You know, we also called out in the third quarter is, look, there was some market disruption that caused us to have to respond to the needs of our customers. With some closures of some competitive branches in the marketplace, we tried to really respond. You're always gonna invest a little bit ahead of benefit as you're trying to staff up, as you're putting people through training programs and feeling that burden through the process. You know, we called that out as, look, it's gonna create a little bit of choppiness, and we felt that, but we thought that was a smart investment in our organization to capitalize around being that partner of choice.
As we continue to move forward, you know, the technology that we've invested in allows us to do a lot of workload management and distribution around that. We have, again, continued to invest in our people to make certain that onboarding accelerates and that they get up to speed quickly as they're joining the organization. We look at some of the tools that we've deployed, that include things like Robotic Process Automation in some of the revenue cycle management area, as well as, some nursing scheduling-.
Mm-hmm.
Software that we've deployed that will allow us to be more efficient from that standpoint. I'd be remiss if I didn't talk about our ability to utilize the infusion suites, because the infusion suites allow us to really capitalize on labor efficiencies within the nursing community. Given the fact that we don't have to pay for windshield time, they have the ability to oversee multiple infusions safely and effectively at the same time based on the drug and the indication. All of those things together, Lisa, are how we're looking at driving efficiencies within our organization.
To that point, can you talk about the expansion of infusion suites? You know, new markets that you're going into, that decision. You talked about the efficiency in the suite versus the nurse driving to someone's home. Is the reimbursement the same in suite versus in home, would be first. Second, how do you think about, you know, adding incremental infusion suites, in what areas of the country?
Yeah. First and foremost, we're a home infusion company. There are patients that are medically fragile that we're always going to serve in the home. We love that aspect of who we are and what we do. The opportunity to offer options, and meet the patient where they're at is something that we've really built around. Historically, this industry always had an infusion suite that was affixed to the pharmacy, and the pharmacies were normally located in somewhere in the bowels of a light industrial park because you wanted really cheap rent.
What we've been trying to do is really reorient around that and look at gravity maps of where our patients are and where our referral sources are referring from and start to put our infusion suites in major metros or in those dot maps in which we can be more convenient and more effective through that process. That investment thesis has always been along making certain that we have, where we have density of patient, the ability to offer them. If you're here in San Francisco, you're not gonna be driving to Hayward, if you're working downtown. There's opportunities for us to really think differently around the size and the placement of those facilities, and that's what we've been doing through that process.
Mike's called out a couple times is, look, these take a little bit of while to actually break even through that process. When we initially invest, we're paying for rent and insurance and CAM and those types of things. Within 12-18 months, we can really start to get the traction and get the flow of the patients in order for them to be profitable, they start to accelerate from there. We offer it to our patients. We don't force them to have to come in to our infusion suite, but we're getting really good traction. I think when we started the journey, we were probably about 15% of our nursing visits were done in our infusion suites.
Even as we've grown, the size of our patient census and the number of patients that we serve, we're in the low to mid-20s now, and we're gonna continue to push that forward. I think as we look at that investment thesis as we move forward, again, we're gonna look at where are those gravity maps and where do we have opportunities to really be more convenient and more centrally located to meet the needs of our patients.
You made a comment that long-term revenue, high single digits, EBITDA kind of mid-teens. When I think about... I know, Mike, you're not giving guidance today. As I think about 2023, can you maybe just talk about, you know, potential headwinds or tailwinds or things we should think about from a modeling perspective for 2023?
Sure. You bet, Lisa. You stole my thunder. We'll unpack our thoughts around 2023 later in February, and we're really excited to do that. Look, as we go into 2023, one of the comments that we made on our third quarter call is that, look, despite some near-term disruptive events, including some of the inflationary pressures that emerged throughout 2022, as well as some of the staffing challenges and competitive dynamics that Jon alluded to, our conviction around that longer term growth algorithm of low to mid-teens EBITDA growth remains intact. Again, don't try to read into my comments around how that implies for 2023. The takeaway is, look, there's some near-term headwinds. Obviously, the inflationary pressures really started to emerge in the second and third quarter of last year.
Our presumption is not that we're gonna wake up in a week and costs are declining. We think this is the new world order. Our expectation would be that those inflationary pressures would be a bit of a year-over-year tailwind, or excuse me, headwind. On the other side of that, as Jon mentioned, we have reinforced in 2022 our reputation as a dependable collaboration partner with a lot of health systems who received notices that certain competitors would no longer be taking referrals. From a tailwind perspective, I think we're more confident in our ability to consistently collaborate with our referral sources. When that referral source calls at four o'clock on a Friday night, they don't care how many dots on the map you have. They don't care about your inflationary pressures.
They care about, are you gonna call back by five o'clock with a yes? As Jon said, you know, a lot of the things we're thinking about going into 2023 are the common themes. You know, we're looking to the chronic portfolio to really be the engine that's driving a lot of our earnings growth from therapies that you see advertised on television every commercial break, like Cabenuva, TEPEZZA, Ocrevus, Stelara. Those are those branded therapies that, you know, we can collaborate with to continue to drive that attractive top-line growth. Nothing substantive in response to your question, Lisa, stay tuned and we'll be excited to share our thoughts in a little over a month.
We have less than a minute left. Jon, what will investors appreciate about Option Care a year from now that they don't necessarily today?
Look, I think the strength of the platform, the strength of the team that we've been able to create, I think is going to drive that consistency of the results as Mike outlined. Look, we're in a really privileged position. We knock on the door of thousands of patients a day. They open the door with a smile on their face, and they're really glad to see our team. We don't take that for granted. That opportunity that we have to think about how can we add additional value, in those relationships that we're able to create is just something that we're gonna continue to focus on and foster.
I think as we continue to look at our growth, not only in the organic, but also in the inorganic ways, we think that we can play a more meaningful role in the post-acute space.
Great. Well, thanks very much.
Yep.
Thanks, everyone. Thank you. That's great.