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The Oncology Institute, Inc. (NASDAQ: TOI) is a leading cancer treatment and research organization focused on providing high-quality, value-based oncology care. Founded in 2007, TOI has established itself as a premier provider of comprehensive cancer treatment with over 70 clinic locations and a team exceeding 110 clinicians. The Institute offers a wide range of services, including infusion centers, outpatient blood transfusions, stem cell transplants, financial counseling, clinical trials, comprehensive lab testing, and end-of-life counseling.
TOI operates in three primary segments: dispensary services, patient services, and clinical trials. The core of its operations lies in patient services, where personalized care plans are developed in collaboration with patients and their families to meet their unique needs. TOI’s mission is to advance oncology by making cutting-edge, evidence-based cancer care accessible within the community setting.
In recent developments, TOI announced a strategic partnership with WellBe Senior Medical to extend its High-Value Cancer Care Program to eligible patients in Illinois and Ohio. This initiative aims to enhance patient satisfaction, reduce acute care facility utilization, and support patients throughout their cancer treatment journey. Furthermore, TOI has joined Carrum Health’s Centers of Excellence network, providing high-value oncology care to non-metastatic breast cancer patients in Las Vegas.
TOI’s commitment to innovation in oncology care is also highlighted through its strategic collaboration with Healthly, a growing healthcare company focused on preventive medicine. Starting July 2024, TOI will offer its specialized cancer care services to Healthly’s affiliated patients and physicians across Southern California. This collaboration underscores TOI’s dedication to providing accessible and comprehensive cancer care in community settings.
Financially, TOI has a strong foundation supported by revenue generated predominantly from patient services. The Institute continues to expand its influence through partnerships and value-based care agreements, ensuring a sustainable and impactful presence in the oncology landscape. For more information, please visit theoncologyinstitute.com.
The Oncology Institute (NASDAQ: TOI) reported Q3 2024 financial results with consolidated revenue of $99.9 million, up 21.8% year-over-year. The company saw a 79.9% increase in Dispensary segment revenue and signed 3 new capitation contracts across 2 states. Despite revenue growth, gross profit decreased 10.1% to $14.4 million, with margin falling to 14.4%. Net loss improved to $16.1 million from $17.4 million in Q3 2023. The company achieved a 6% reduction in SG&A expenses and expanded operations with first two clinics in Oregon. Cash position stood at $47.4 million as of September 30, 2024.
The Oncology Institute (NASDAQ: TOI) has received certification to administer Pluvicto therapy in their outpatient California radiation oncology practices. This radiopharmaceutical treatment for metastatic prostate cancer has traditionally been administered in hospital settings. TOI will become one of the few community-based practices on the West Coast offering radiopharmaceuticals in an outpatient setting, aiming to reduce hospitalization costs and provide value for patients and payors.
The Oncology Institute (NASDAQ: TOI) announced it will release its Q3 2024 financial results after market close on November 13, 2024, followed by a conference call at 5:00 p.m. Eastern Time. Investors can access the call by dialing 1-877-407-0789 (US) or 1-201-689-8562 (international). A replay will be available until November 20, 2024, accessible via 1-844-512-2921 (US) or 1-412-317-6671 (international) using passcode 13749308. A simultaneous webcast will be available on TOI's Investor Relations website.
The Oncology Institute (TOI) has joined Lantern's specialty care platform, expanding access to cancer care for Lantern members across TOI's community clinics in 5 states. The partnership aims to provide advanced cancer treatment while reducing financial burden for patients. TOI, with over 120 clinicians and 700 team members across 70+ clinic locations, serves a population of over 1.8 million patients. The collaboration focuses on delivering optimal outcomes and patient satisfaction through value-based oncology care, including clinical trials and transfusion services.
The Oncology Institute (NASDAQ: TOI) and the American Journal of Managed Care® (AJMC) are partnering to co-host a symposium on value-based cancer care on October 24, 2024, in Miami, Florida. The event is part of AJMC's Institute for Value-Based Medicine (IVBM), a leading forum for expert insights on implementing value-based care in oncology and population health.
The symposium will feature panel discussions with healthcare professionals, including physicians, practice administrators, and payors, focusing on key learnings and emerging opportunities. Dr. Daniel Virnich, CEO of The Oncology Institute, will chair the event. Other TOI executives moderating panels include Dr. Yale Podnos (CMO), Jordan McInerney (CDO), and Ray Parzik (VP).
The Oncology Institute (TOI), a leading value-based oncology group, has expanded into Oregon with the opening of two new specialty cancer clinics in Portland and Salem. This marks TOI's first capitated partnership in the market, with plans for further expansion across the state. The new clinics will offer cutting-edge cancer care services, providing a vital option for patients in the Pacific Northwest.
Dr. Dan Virnich, CEO of TOI, emphasized the company's commitment to providing advanced care in local communities, focusing on optimal outcomes, patient satisfaction, and minimizing financial burdens. Dr. Patan Gultawatvichai, Medical Director of TOI in Oregon, highlighted the company's dedication to redefining oncology care through value-based models.
TOI, founded in 2007, serves over 1.8 million patients across more than 70 clinic locations with over 120 employed clinicians and 700 team members. The company offers advanced services including clinical trials and transfusions, aiming to change oncology for the better.
The Oncology Institute (NASDAQ: TOI) has announced a CFO transition. Mihir Shah, the current CFO, will leave the organization on October 14, 2024. Rob Carter, Senior Vice President of Finance, will be promoted to Chief Financial Officer. Carter, who joined TOI in 2021, brings over a decade of finance leadership experience from notable healthcare institutions.
CEO Dr. Daniel Virnich expressed excitement about Carter's promotion, citing his experience in oncology and large health systems. Virnich also thanked Shah for his contributions, including leading TOI through its early years as a public company and improving capabilities in reporting, compliance, and analytics.
Carter stated his honor in becoming TOI's next CFO and his belief in the company's future growth and innovation. TOI, founded in 2007, delivers specialized, value-based cancer care in community settings, serving over 1.8 million patients with 126 employed clinicians and more than 700 teammates across 70+ clinic locations.
The Oncology Institute (NASDAQ: TOI) reported its Q2 2024 financial results and updated full-year guidance. Key highlights include:
- 22.9% increase in consolidated revenue to $99 million
- 76% growth in Dispensary segment revenue
- Net loss of $15.5 million, improved from $16.9 million in Q2 2023
- Adjusted EBITDA of $(8.7) million
- Cash and equivalents of $46.4 million as of June 30, 2024
TOI signed 3 new capitation contracts across 2 states, bringing the total to 10 new contracts in 2024. The company is exploring strategic alternatives to maximize shareholder value. Despite a decrease in gross profit, TOI expects significant improvement in net loss and adjusted EBITDA in H2 2024, driven by improving IV margins and newly signed capitated contracts going live in Q3.
The Oncology Institute (TOI), a leading value-based oncology group in the United States, has announced its second quarter 2024 earnings release date and conference call details. The company will release its financial results on Tuesday, August 13, 2024, after the market close. This will be followed by a conference call at 5:00 p.m. Eastern Time on the same day.
Investors can access the call by dialing 1-877-407-0789 (US) or 1-201-689-8562 (international). A replay will be available until August 20, 2024, accessible via 1-844-512-2921 (US) or 1-412-317-6671 (international) with passcode 13747491. Additionally, a simultaneous webcast will be available on the company's Investor Relations website.
The Oncology Institute (NASDAQ: TOI) will participate in two major investor conferences. CEO Dr. Daniel Virnich will represent TOI at the Jefferies Global Healthcare Conference on June 6, 2024, at 9:00am ET in New York City. He will also join the Truist Securities Healthcare Disruptors & Digital Health Summit on June 26, 2024, at 1:00pm ET, also in New York City. Interested parties can access live webcasts and replays through the company's Investor Relations website.
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