Basically the Clinic would have an Orthopod directly involved so Orthopedic Surgeons are most likely, but leaving the possibility of a large Chiropractic Clinic eligible if working directly with an orthopedic surgeon. But let’s not get too hung up on what is involved in setting up the Clinic. It really only involves the use of one treatment room located within an existing Practice two to four days a month equipped with some $50k worth of somewhat specialized equipment. (But don’t confuse the ease of “opening such a clinic” as being an easy entry barrier to this very specialized business. I will explain this more in answer to Frank’s follow-up question next)
If you noticed in the "Anatomy of a Case" slide in the CC it mentioned that the first thing a PI attorney would do after engaging a case is to place the patient in some type of Physical Therapy for three two four months and usually that would be with a Chiro. So there are a number of Chiro practices that already have good relationships and a heavy flow of initial PI cases. The Company would consider allowing such a Chiro practice, as long as it has a working relationship with a Orthopedic Surgeon, to open a clinic.
I particularly mention this in that I have heard there is at least one such multi Office Chiro group that is talking with the Company on opening a SPIN clinic.
As strange as it may seem, it is not very likely that a "Spine Pain" specialist would be opening a SPIN clinic in that the real goal of SPIN is to provide "Diagnostics" of spine problems to the PI case and then provide the PI attorney with a legally defensible diagnosis of the extent of damage and a course of short and long term action that should be undertaken. None of which really has much to do with alleviation of pain. Remember, the primary treatment that SPIN advances is to 1)identify the potential problem areas of the spine through results of PT and usually an MRI, then 2)prove the specific problem area(s) by using nerve block injections. If the pain temporarily goes away right after the injection, then it pretty much proves that is where the problem lies.
I suspect you are now thinking; Why did they call the Company Spine Pain Management Inc. If pain relief was not the primary goal? (well, long term it really is, but not just with a shot) Well, I guess it was for the same reason that if you had looked at all prior written descriptions of the Company, in SEC filings, the Company website and PR's prior to the 2010 10K, you would not find the words; Personal Injury Lawyer, (PI)lawsuit, (PI)case, (PI) Plaintiff or really any tie-in to lawsuits at all. The Company really is an advocate exclusively for the plaintiff, but you can imagine that counsel for the Defendant will not ignore the opportunity to question the "motives" of SPIN's involvement in charging for diagnostics in the plaintiffs case since SPIN as a public company does have a profit motive directly tied to the outcome of a case, and "is not just doing this as an unbiased expert", so try to obfuscate say the Defendants Attorney.
As I long time shareholder of SPIN, thankfully with the 2010 10K, the Company has “finally come out of the closet” and is now publicly pretty much explaining just what separates SPIN from just any other consolidator of Spine Pain clinics. I think you all would agree; the more you understand the differences between what SPIN does and just another group of clinics, the more exciting the potential for SPIN.
If you really do decide to "run this by some docs", I suggest you call either Dr. Donovan at 713-453-8551 or John Talamas at 281-615-4269. I am sure they can tell you a lot more then I as to that subject.
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