In Tony Blair's 2nd term as PM, he offered GPs (General Practitioners - local family doctor) to opt out of out-of-hours care for a pay cut of 6%. No more weekends, no more sudden call outs in the middle of the night.
As well as Iraqis, Tony was about to liberate the doctors.
As well as Iraqis, Tony was about to liberate the doctors.
In fact, the deal was so good that the doctors' negotiators didn't believe it at first.
news.bbc.co.uk/1/hi/health/63…
And of course when it turned out to be true they grabbed it with both hands: over 90% opted out.
news.bbc.co.uk/1/hi/health/63…
And of course when it turned out to be true they grabbed it with both hands: over 90% opted out.
Tony Blair also massively increased the budget of the NHS
The NHS is often said to be the third largest employer globally after the Indian railway and the Peoples' Army of China.
It's the socialised medicine you've heard about and for most in UK, it's cold dead hands territory
The NHS is often said to be the third largest employer globally after the Indian railway and the Peoples' Army of China.
It's the socialised medicine you've heard about and for most in UK, it's cold dead hands territory
We've now run out of money; the NHS is struggling with tighter budgets, more complex medicine and an ageing population. Doctors don't especially enjoy endless nights, weekends and call outs.
You'd think there'd be an opportunity here.. remote radiography: Medica Group #MGP
You'd think there'd be an opportunity here.. remote radiography: Medica Group #MGP
As TB would say, it's a win-win.
Radiologists and radiographers can work the hours they choose and they can work from home or at a reporting centre - full workstations, monitors etc at least equal to the NHS standard.
It's popular
Radiologists and radiographers can work the hours they choose and they can work from home or at a reporting centre - full workstations, monitors etc at least equal to the NHS standard.
It's popular
What do care providers get from this?
Plenty, actually.
Contracting in remotely is cheaper than employing locums or additional consultants for peak periods or out of hours, so money is saved.
Specialisms can be covered this way, further lowering the headcount needs.
Plenty, actually.
Contracting in remotely is cheaper than employing locums or additional consultants for peak periods or out of hours, so money is saved.
Specialisms can be covered this way, further lowering the headcount needs.
Like all good -as-a-service businesses, this naturally scales but unlike them, it actually makes money.
I'll start with the scale part first:
Remember everyone hates out of hours? Well, here's a thing - when it's daytime in UK, it's nighttime in Australia
I'll start with the scale part first:
Remember everyone hates out of hours? Well, here's a thing - when it's daytime in UK, it's nighttime in Australia
You can see where this is going..
Medica is expanding into Australia and New Zealand to help service the UK out of hours division especially. It's called Nighthawk and it grew 15% last year to make up just over half of total revenues
Medica is expanding into Australia and New Zealand to help service the UK out of hours division especially. It's called Nighthawk and it grew 15% last year to make up just over half of total revenues
But why should it stop there? The sun doesn't set on the English speaking world and illness is illness - this model lends itself to spreading globally, especially given ageing populations and the desire for better healthcare in poorer places.
I should mention AI here because eventually that's where it all leads.
Presently we're at the stage where even rotating an image a few degrees can turn our future masters into Lewis Carroll.
AI, if and when it works, will be an adjunct to the human doctor, not the replacement
Presently we're at the stage where even rotating an image a few degrees can turn our future masters into Lewis Carroll.
AI, if and when it works, will be an adjunct to the human doctor, not the replacement
So, does it make money?
It does. #MGP turns its profits into cash and has an operating margin of 25%.
It grew 15% last year, 18% the year before that and will report 18% for H1/19 in September.
It does. #MGP turns its profits into cash and has an operating margin of 25%.
It grew 15% last year, 18% the year before that and will report 18% for H1/19 in September.
Revenue was around £40M last year, it invests around £1.5M to keep expanding operations and reporting centres. It has nil net debt and does this all in quite an asset-light way. Even pays a dividend.
120p per share / £130M cap
You could do worse..
120p per share / £130M cap
You could do worse..
