sales are down

Doesn't look good for PathGroup. Quest and LabCorp are positioning themselves with insurers and leaving pathgroup out...….
maybe mgt can sell more paps?

 

sales have been down for multiple quarters in a row. thanks troll!

 

PathGroup had a record Q1 for sales.


PathGroup hasn't lost position on any managed care plans of note.


There is a lot of wishful thinking going on.

 

Interviewing for a Territory Sales position. What is the culture like? Expectations? Comp Plan? how much Admin?

Thank you !

 

If you are interviewing for one of the currently open territories you’re likely annual compensation is going to be in the $125k-$140k range. It is uncapped so you can go higher but if they lead you to believe it will consistently be higher than that then run.

Some territories do more. The 2 Middle TN reps make in the $350k-$450k range consistently but that’s the home base with a ton of built in advantages. Some other territories can do up to $250k.

The culture used to be great. Now it’s pretty close to Quest culture. There have been way too many former Quest hired into PathGroup over the MH era.

More and more admin every month. Must log calls into CRM. Very little management support. No strategic direction.

Most quotas are around $10k/month. Presidents Club at 135% of quota for the year plus exceed monthly new sales quota 6 or more individual months out of the 12. About 15%-20% of reps make Presidents Club.

 

What is the base for an AE equivalent?

 

Thank you appreciate your willingness to be transparent.

 

quota is $10k a month, if you bring on a $30k account in Jan, you still need to bring $10k in Feb. Managers are all over reps, sales are down, Covid testing really helps the bottom line here but it's affecting out TAT on all other services. Managers don't care that paps are delayed, they need more clients sending.

If you read other postings about us, the VC group that owns us seems to be ready to dump this place. LabCorp/Quest have been sniffing around for years so it's no surprise that the rumors continue. The lab has lost a lot of really good employees and have been replaced with part time workers or the position is left open. We just bought a dermpath lab in Alabama so that will be interesting. We left the dermpath group in Atlanta to kind of figure it out for themselves and after a few years they seem to be doing better but I'm not 100% sure of that.

 

Sniffing is all they are doing, I dont see this place getting purchased. VC will continue to hold.

 

that leads me to believe that VC doesn’t see pathgroup as a investment that’s worth it anymore. This company is a revolving door! However came in today will be gone tomorrow!

 

Or the opposite, revenue isn't where they projected. Buy another profitable lab and that makes PathGroup look better.

 

Acquisition game it is!

 

Only problem is, Aurora did this and failed miserably. Derm groups are smarter and know that "stock" in a company like ours is pretty much worthless. Going to have to pay straight cash, and VC's are not going to like paying out 2-3 times revenue. Of course, Aurora used to "pay" out 4-5 times but used stock as 75% of the purchase. The stock was then worthless in the end.

 

Valuation will have to drop dramatically before a legitimate buyer entertains the idea...not many buyers out there

 

After seeing how this lab operates who would want it. Also who put the MONEY and effort to even try to turn it around.

 

The game plan for selling is simple, they'll get another round of VC money, those VC will continue to push Covid testing since the government is still paying for it. Then TAT on everything else will continue to fail and we'll slowly lose clients. When the government stops reimbursement of Covid we're in serious trouble.

Also, the Feds will investigate (in about 5 years) where the payments for Covid ended up. We guaranteed a ridiculous amount of Covid tests daily, not only did we not come close to that, but our TAT on Covid wasn't always 24 hours like we guaranteed. Upper management took a ton of bonuses on this money and the Feds will want some back at some point. I'm sure those in upper management will have been long gone by then.

 

yes, when the fed start asking what happened with the money that is where pathgroup will be in trouble. When COVID first hit we were drowning in covid specimens. They could not keep up and the increase is starting to happen again. I’m sure the suits took their cut in the money because again with the way this company runs who would invest in them. They better be ghost when the feds come and want answers!

 

A client just complained that their Covid results were taking up to 4 days

 

That’s odd since PathGroup is churning out next day results consistently.

 

Maybe in TN, not elsewhere.