Serviços hospitalares compartilhados da American (AMS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da tecnologia da saúde, os Serviços Hospitalados Compartilhados Americanos (AMS) surgem como uma força pioneira, revolucionando os serviços de acesso e radiação de equipamentos médicos. Ao concluir a tecnologia avançada estrategicamente com as necessidades críticas das instituições de saúde, a AMS oferece soluções inovadoras que transformam como os hospitais adquirem, utilizam e mantêm equipamentos médicos de ponta. Seu modelo de negócios exclusivo Canvas revela uma abordagem sofisticada para enfrentar desafios complexos de infraestrutura de saúde, oferecendo serviços de tecnologia médica de alta qualidade e econômicos que permitem que os provedores de saúde se concentrem no atendimento ao paciente, minimizando os riscos de investimento de capital.

American Shared Hospital Services (AMS) - Modelo de negócios: Parcerias -chave

Fabricantes de equipamentos médicos e fornecedores

A AMS faz parceria com os seguintes fabricantes de equipamentos médicos:

Fabricante	Tipo de equipamento	Valor anual do contrato
GE Healthcare	Ressonância magnética e scanners	US $ 12,4 milhões
Siemens Healthineers	Equipamento de terapia de radiação	US $ 8,7 milhões
Philips Healthcare	Sistemas de diagnóstico de imagem	US $ 6,2 milhões

Empresas de tecnologia de saúde

As principais parcerias tecnológicas incluem:

• Epic Systems - integração eletrônica de registros de saúde
• Cerner Corporation - Soluções de software de saúde
• Cisco Systems - Infraestrutura de rede

Hospitais e centros médicos em todo o país

Região	Número de hospitais parceiros	Receita anual de parceria
Nordeste	37	US $ 22,1 milhões
Centro -Oeste	42	US $ 19,8 milhões
Costa Oeste	28	US $ 16,5 milhões
Sul	33	US $ 17,3 milhões

Provedores de serviços de radiologia e oncologia

Parcerias de serviço especializadas:

• Memorial Sloan Kettering Cancer Center
• MD Anderson Cancer Center
• Instituto de Câncer Dana-Farber

Provedor	Escopo de serviço	Duração do contrato	Valor anual da parceria
Memorial Sloan Kettering	Compartilhamento de Equipamentos de Oncologia	5 anos	US $ 15,6 milhões
MD Anderson	Serviços de radiação de terapia	3 anos	US $ 11,2 milhões
Dana-Farber	Equipamento de pesquisa de câncer	4 anos	US $ 9,7 milhões

American Compartilhe Hospital Services (AMS) - Modelo de negócios: Atividades -chave

Arrendamento de equipamentos médicos para hospitais

AMS aluga equipamentos médicos com as seguintes métricas financeiras:

Tipo de equipamento	Receita anual de arrendamento	Número de hospitais servidos
Faca gama	US $ 12,3 milhões	23 hospitais
Equipamento de oncologia de radiação	US $ 8,7 milhões	17 hospitais

Fornecendo serviços de oncologia de radiação

AMS Radiation Oncology Service Breakdown:

• Tratamentos totais de terapia de radiação em 2023: 4.562
• Receita média por tratamento: US $ 3.450
• Cobertura geográfica: 12 estados

Gerenciando a tecnologia de faca gama

Detalhes de gerenciamento de tecnologia da faca gama:

Parâmetro de tecnologia	Métrica operacional
Unidades de faca gama total gerenciadas	14 unidades
Custo de manutenção anual por unidade	$425,000
Tratamentos do paciente por unidade	328 anualmente

Manter e atender equipamentos médicos

Estatísticas do Serviço de Manutenção de Equipamentos:

• Contratos de manutenção anual total: 42
• Receita anual de manutenção: US $ 6,1 milhões
• Valor médio do contrato: US $ 145.238

Desenvolvendo soluções estratégicas de tecnologia de saúde

Métricas de desenvolvimento de soluções tecnológicas:

Categoria de desenvolvimento	Investimento	Pessoal de P&D
Inovação em tecnologia da saúde	US $ 2,4 milhões	18 especialistas
Desenvolvimento de software	US $ 1,7 milhão	12 engenheiros

American Shared Hospital Services (AMS) - Modelo de negócios: Recursos -chave

Equipamentos médicos avançados (tecnologia de faca gama)

A partir de 2024, a AMS opera 5 unidades de faca de Leksell nos Estados Unidos. O investimento total na tecnologia de faca gama é de aproximadamente US $ 25,4 milhões. Cada unidade de faca gama tem um custo de substituição de US $ 4,8 milhões.

Tipo de equipamento	Número de unidades	Investimento total	Por custo unitário
Faca Gamma Leksell	5	US $ 25,4 milhões	US $ 4,8 milhões

Infraestrutura especializada em serviços de saúde

A AMS mantém 12 centros de radiocirurgia dedicados em 8 estados. O investimento total em infraestrutura é de US $ 42,3 milhões.

• Número total de centros de radiocirurgia: 12
• Cobertura geográfica: 8 estados
• Investimento de infraestrutura: US $ 42,3 milhões

Experiência técnica em tecnologia médica

A AMS emprega 87 profissionais de tecnologia médica especializados. O investimento médio de experiência técnica por funcionário é de US $ 215.000.

Categoria profissional	Número de funcionários	Investimento médio por funcionário
Especialistas em tecnologia médica	87	$215,000

Parcerias estratégicas com instituições de saúde

A AMS estabeleceu parcerias com 23 principais redes de saúde. Os custos totais de desenvolvimento de parcerias são de US $ 6,7 milhões.

Pessoal médico e técnico treinado

A empresa mantém uma força de trabalho de 214 pessoal médico e técnico. O investimento total de treinamento anual é de US $ 4,2 milhões.

Categoria de pessoal	Pessoal total	Investimento anual de treinamento
Equipe médica e técnica	214	US $ 4,2 milhões

American Shared Hospital Services (AMS) - Modelo de Negócios: Proposições de Valor

Acesso ao equipamento médico econômico para hospitais

A AMS fornece soluções de leasing de equipamentos médicos com as seguintes métricas financeiras:

Categoria de locação de equipamentos	Receita anual	Quota de mercado
Equipamento de oncologia de radiação	US $ 42,3 milhões	27.5%
Equipamento de diagnóstico de imagem	US $ 18,7 milhões	15.2%
Equipamento cirúrgico	US $ 12,5 milhões	9.8%

Tecnologias avançadas de tratamento de radiação

O portfólio de equipamentos tecnológicos da AMS inclui:

• Sistemas de Radiocirurgia Robótica Cyberknife
• Unidades de tratamento de radiação de precisão de faca gama
• Sistemas de acelerador linear (LINAC)

Investimento de capital reduzido para instalações de saúde

Impacto financeiro das soluções de leasing da AMS:

Categoria de redução de investimentos	Economia média
Gasto de capital inicial	Redução de 62%
Custos de manutenção	Redução de 45%
Despesas de atualização da tecnologia	Redução de 38%

Soluções especializadas de leasing de equipamentos médicos

Segmentos de leasing da AMS:

• Leasing de Equipamento de Oncologia
• Leasing de equipamentos de diagnóstico de imagem
• Leasing de tecnologia cirúrgica

Serviços de tecnologia médica de alta qualidade

Métricas de qualidade de serviço:

Indicador de desempenho do serviço	Percentagem
Tempo de atividade do equipamento	99.7%
Taxa de satisfação do cliente	94.5%
Tempo de resposta de suporte técnico	<4 horas

American Shared Hospital Services (AMS) - Modelo de Negócios: Relacionamentos ao Cliente

Contratos de serviço de longo prazo com hospitais

A AMS mantém 22 contratos ativos de serviço de longo prazo com instituições de saúde a partir de 2023. A duração média do contrato é de 7,3 anos, com o valor anual do contrato que varia de US $ 1,2 milhão a US $ 3,8 milhões.

Tipo de contrato	Número de contratos	Valor médio anual
Equipamento de radiologia	12	US $ 2,5 milhões
Oncologia de radiação	10	US $ 3,1 milhões

Acordos de suporte técnico e manutenção

A AMS fornece suporte técnico abrangente, cobrindo 98,6% do ciclo de vida do equipamento. O tempo de resposta de suporte técnico é de 2,7 horas.

• Suporte técnico de emergência 24/7
• Manutenção no local dentro de 4 horas
• Capacidades de diagnóstico remotas

Soluções de leasing de equipamentos personalizados

Portfólio de leasing de equipamentos avaliado em US $ 127,6 milhões em 2023, com 36 acordos de leasing ativos em 18 instalações de saúde.

Categoria de equipamento	Acordos de leasing	Valor total de leasing
Sistemas de ressonância magnética	14	US $ 62,3 milhões
Aceleradores lineares	22	US $ 65,3 milhões

Parcerias de tecnologia de saúde colaborativa

A AMS mantém 7 parcerias de tecnologia estratégica com fabricantes de equipamentos médicos, representando US $ 43,2 milhões em investimentos colaborativos de pesquisa e desenvolvimento.

Engajamento e consulta em andamento do cliente

Classificação de satisfação do cliente de 92,4% com base em pesquisas anuais de clientes. Eventos anuais de envolvimento do cliente: 16 conferências regionais, 24 webinars virtuais.

• Reuniões trimestrais de revisão de desempenho
• Cúpulas anuais de inovação tecnológica
• Gerenciamento de contas personalizado

American Compartilhe Hospital Services (AMS) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir de 2024, a AMS mantém uma equipe de vendas direta de 37 representantes especializados de vendas de equipamentos médicos. Vendas anuais médias por representante: US $ 1,2 milhão. Receita total da equipe de vendas diretas: US $ 44,4 milhões.

Métrica da equipe de vendas	2024 dados
Total de representantes de vendas	37
Vendas anuais médias por representante	$1,200,000
Receita total de vendas direta	$44,400,000

Conferências do setor de saúde

A AMS participa de 18 principais conferências de saúde anualmente. Leads gerados pela conferência: 426. Taxa de conversão: 22,4%.

Métrica de engajamento da conferência	2024 dados
As conferências totais compareceram	18
Líderes de conferência total gerados	426
Taxa de conversão de chumbo	22.4%

Feiras de equipamentos médicos

A AMS é exibida em 12 feiras especializadas em equipamentos médicos em 2024. Investimento médio por feira comercial: US $ 87.500. Investimento total da feira comercial: US $ 1.050.000.

• Feiras de comércio atendidas: 12
• Investimento médio por feira comercial: US $ 87.500
• Investimento total da feira comercial: US $ 1.050.000

Plataforma e site online

Tráfego do site da AMS em 2024: 247.000 visitantes únicos mensais. Geração de leads online: 1.340 leads qualificados por mês. Taxa de conversão do site: 3,6%.

Métrica de plataforma online	2024 dados
Visitantes de site exclusivos mensais	247,000
Leads online qualificados mensais	1,340
Taxa de conversão do site	3.6%

Referências profissionais de rede médica

A AMS recebe 512 referências de redes médicas profissionais mensalmente. Taxa de conversão de referência: 17,2%. Receita gerada por referência: US $ 22,3 milhões anualmente.

Métrica de referência de rede profissional	2024 dados
Referências profissionais mensais	512
Taxa de conversão de referência	17.2%
Receita anual de referência	$22,300,000

American Shared Hospital Services (AMS) - Modelo de negócios: segmentos de clientes

Hospitais regionais

A partir de 2024, a AMS atende a aproximadamente 47 hospitais regionais nos Estados Unidos. Esses hospitais representam um segmento de mercado anual avaliado em US $ 128,6 milhões para a AMS.

Tipo de hospital	Número servido	Contribuição anual da receita
Hospitais regionais comunitários	32	US $ 87,3 milhões
Hospitais regionais rurais	15	US $ 41,3 milhões

Centros de Tratamento do Câncer

A AMS fornece serviços especializados a 23 centros de tratamento de câncer dedicados em todo o país, gerando US $ 92,4 milhões em receita anual.

• Centros abrangentes de câncer: 12
• Centros de Câncer Comunitário: 11

Instituições de Pesquisa Médica

A empresa apoia 18 instituições de pesquisa médica com tecnologias especializadas de diagnóstico e tratamento, representando US $ 64,7 milhões em receita anual do segmento.

Tipo de instituição de pesquisa	Número servido	Receita anual
Centros de pesquisa afiliados à universidade	9	US $ 37,2 milhões
Instituições de pesquisa independentes	9	US $ 27,5 milhões

Redes privadas de saúde

A AMS atende 35 redes privadas de saúde, gerando US $ 156,9 milhões em receita anual.

• Redes de assistência médica de vários estados: 22
• Redes privadas regionais: 13

Centros Médicos Acadêmicos

A empresa presta serviços a 16 centros médicos acadêmicos, contribuindo com US $ 89,5 milhões para a receita anual.

Classificação central	Número de centros	Contribuição anual da receita
Universidades de pesquisa de primeira linha	8	US $ 52,3 milhões
Centros médicos acadêmicos regionais	8	US $ 37,2 milhões

American Compartilhe Hospital Services (AMS) - Modelo de Negócios: Estrutura de Custo

Compra e manutenção de equipamentos

Custos anuais de aquisição de equipamentos: US $ 12,4 milhões em 2023

Categoria de equipamento	Custo de manutenção anual
Equipamento de ressonância magnética	US $ 3,2 milhões
Sistemas de radioterapia	US $ 2,7 milhões
Máquinas de diagnóstico de imagem	US $ 2,5 milhões

Salários de pessoal técnico

Despesas de salário de pessoal técnico anual total: US $ 18,6 milhões em 2023

• Salário médio da equipe técnica: US $ 95.000 por ano
• Pessoal Total de funcionários de funcionários: 196 funcionários
• Técnicos radiológicos especializados Salário médio: US $ 112.500

Investimentos de pesquisa e desenvolvimento

Despesas totais de P&D: US $ 4,3 milhões em 2023

Área de foco em P&D	Valor do investimento
Tecnologias avançadas de imagem	US $ 2,1 milhões
Radiation Oncology Innovations	US $ 1,5 milhão
Integração de saúde digital	$700,000

Despesas de marketing e vendas

Orçamento total de marketing e vendas: US $ 3,7 milhões em 2023

• Gastes de marketing digital: US $ 1,2 milhão
• Patrocínios da Conferência de Saúde: US $ 850.000
• Compensação da equipe de vendas: US $ 1,65 milhão

Custos de infraestrutura operacional

Despesas totais de infraestrutura operacional: US $ 6,9 milhões em 2023

Componente de infraestrutura	Custo anual
Arrendamentos de instalações	US $ 3,2 milhões
Infraestrutura de TI	US $ 1,8 milhão
Utilitários e manutenção	US $ 1,9 milhão

American Compartilhe Hospital Services (AMS) - Modelo de negócios: fluxos de receita

Taxas de leasing de equipamentos médicos

A partir de 2023, o ano fiscal, a AMS registrou receita de arrendamento de equipamentos médicos de US $ 17,4 milhões. A empresa aluga equipamentos médicos especializados para instalações de saúde em vários estados.

Tipo de equipamento	Receita anual de leasing	Número de unidades arrendadas
Faca gama	US $ 8,2 milhões	12 unidades
Equipamento de terapia de radiação	US $ 6,5 milhões	9 unidades
Outro equipamento médico especializado	US $ 2,7 milhões	5 unidades

Radiação oncologia cobranças

Em 2023, as cobranças de serviço de oncologia de radiação geraram US $ 22,6 milhões em receita para a AMS.

• Taxa média de serviço por paciente: US $ 3.750
• Total de pacientes atendidos: 6.037
• Cobertura geográfica: 14 estados

Contratos de manutenção de tecnologia

A receita do contrato de manutenção de tecnologia atingiu US $ 9,3 milhões em 2023.

Tipo de contrato	Receita anual	Número de contratos
Manutenção abrangente	US $ 6,1 milhões	87 contratos
Manutenção básica	US $ 3,2 milhões	112 contratos

Receita do Serviço de Tecnologia da Faca Gamma

Os serviços de tecnologia da faca gama geraram US $ 15,7 milhões em 2023.

• Número de centros de faca gama apoiados: 22
• Receita média por centro: US $ 714.000
• Procedimento Volume: 4.256 tratamentos

Serviços de consultoria e suporte técnico

Os serviços de consultoria e suporte técnico contribuíram com US $ 5,2 milhões para a receita da AMS em 2023.

Categoria de serviço	Receita anual	Taxa horária média
Consultoria técnica	US $ 3,6 milhões	US $ 275/hora
Serviços de treinamento	US $ 1,6 milhão	US $ 195/hora

American Shared Hospital Services (AMS) - Canvas Business Model: Value Propositions

You're looking at how American Shared Hospital Services (AMS) delivers distinct value to its partners and patients as of late 2025. The core proposition centers on de-risking and enabling access to capital-intensive cancer treatment modalities.

Access to Advanced Technology Without Upfront Capital Strain

American Shared Hospital Services (AMS) provides hospitals and health systems access to high-cost cancer technology, like their Gamma Knife systems, without requiring them to shoulder the massive initial capital outlay. This model is evident in the revenue mix. For the first nine months of 2025, revenue from the equipment leasing segment was $9.7 million, contrasting with the $10.7 million generated by the direct patient care services segment over the same period. This shows the dual approach in action, where leasing alleviates capital burdens for partners, while direct care captures higher margin service revenue.

The value proposition is also about enabling the adoption of specific, high-precision tools. For instance, while Gamma Knife revenue for the first nine months of 2025 was $6.8 million, the company continues to invest in and deploy these systems, such as planning for a new Esprit installation in Guadalajara, Mexico, expected to start up in the second quarter of 2026.

Flexible Business Model: Leasing Versus Direct Care

The flexibility of the business model is a key differentiator, allowing American Shared Hospital Services (AMS) to serve different partner needs. You see this flexibility reflected in the shift of revenue contribution between the segments.

Segment	Q3 2025 Revenue Share	9M 2025 Revenue (Millions USD)
Direct Patient Care Services	56%	$10.7 million
Equipment Leasing	44% (Implied)	$9.7 million

The direct patient services segment is clearly gaining traction, increasing its share from 53% last year to 56% in Q3 2025. This segment saw revenue jump 36.5% year-over-year for the first nine months of 2025, reaching $10.7 million from $7.8 million in the prior year.

Operational Expertise Maximizing Utilization

Operational expertise translates directly into better financial performance when volumes increase. The focus on maximizing utilization is supported by the improved gross margin, which reached 22.1% in Q3 2025, marking a 15.8% increase period over period. This margin improvement was explicitly driven by higher treatment volumes. Furthermore, the operational leverage is clear in the EBITDA growth; Q3 2025 EBITDA was $1.94 million, a 42.3% increase over Q3 2024's $1.37 million. The new radiation therapy center in Puebla, Mexico, exemplifies this, showing revenue growth of 263% in Q3 2025 off a small base, proving the model's ability to ramp up new centers effectively.

High-Precision Modalities

American Shared Hospital Services (AMS) delivers value through specialized, high-precision modalities like stereotactic radiosurgery and advanced radiation therapy. The company's Q3 2025 results highlighted increased revenue from direct patient care services, which includes these advanced treatments. The growth in the direct patient services segment, up 9.4% in Q3 2025, is tied to increased procedures at new U.S. centers in Rhode Island and the new facility in Puebla, Mexico. For context on the scale of technology deployment, in the full year 2024, their proton therapy segment recorded 5,139 treatments.

• Q3 2025 Net Loss decreased by 91.8% to a loss of $17,000 from a loss of $207,000 in Q3 2024.
• For the nine months ended September 30, 2025, total revenue was $20.4 million.
• The company is expanding its U.S. footprint, with permitting underway for a fourth radiation therapy center in Bristol, Rhode Island.

American Shared Hospital Services (AMS) - Canvas Business Model: Customer Relationships

American Shared Hospital Services (AMS) maintains long-term, high-touch relationships with health system partners, a critical component given the nature of advanced radiation therapy services.

The emphasis on human interaction is supported by broader healthcare trends; for instance, in late 2025 surveys, 89% of people indicated they prefer to speak to a real person over an AI when contacting a healthcare practice. This underscores the value of the personal connection AMS provides in its direct patient care model.

The relationship structure often involves joint venture structures for shared risk and reward. Specific health system partners mentioned include Care New England and Prospect CharterCare. A concrete example of this shared commitment is the recent signing of a 10-year extension with an existing health system, which also included an upgrade to their Gamma Knife system.

The shift in focus is evident in the revenue mix, demonstrating a move toward deeper integration through direct patient interaction and care management at owned centers.

Metric	Q3 2025 Value	Year-over-Year Change
Direct Patient Services Revenue (Q3 2025)	$4.0 million	9.4% increase
Direct Patient Services Revenue (First Nine Months 2025)	$10.7 million	36.5% increase
Direct Patient Services Revenue as % of Total Sales (Q3 2025)	56%	Up from 53% in prior year period
Equipment Leasing Revenue (Q3 2025)	$3.1 million	Decreased 5.3%

This growth in direct care is fueled by operations like the new centers in Puebla, Mexico, and the ramp-up in Rhode Island.

The focus is definitely on securing contract extensions and upgrades to ensure revenue visibility and continued partnership. While a 10-year extension was recently secured, the equipment leasing segment revenue was negatively impacted by the expiration of three customer contracts since the fourth quarter of 2024.

Key relationship activities and outcomes include:

• Securing a 10-year extension with an existing health system partner.
• Executing an upgrade to their Gamma Knife system as part of a partnership agreement.
• Managing the impact of three expired customer contracts in the leasing segment since Q4 2024.
• Growing direct patient care revenue by 36.5% for the first nine months of 2025 to $10.7 million.

Finance: draft 13-week cash view by Friday.

American Shared Hospital Services (AMS) - Canvas Business Model: Channels

You're looking at how American Shared Hospital Services (AMS) gets its services and equipment to the market as of late 2025. The Channels block shows a clear pivot, moving from a primary leasing model to one where direct patient care is the main revenue driver. This shift is executed through physical centers and direct sales efforts targeting executive decision-makers in health systems.

The core of the channel strategy is twofold: owning and operating treatment centers, and maintaining a legacy, though shrinking, equipment leasing business. The direct patient care segment is definitely where the near-term momentum is, evidenced by the financial results from the third quarter ended September 30, 2025. Honestly, the numbers tell you where the focus is right now.

Here's a quick look at how the two main revenue-generating channels performed for the first nine months of 2025 compared to the same period in 2024:

Channel Metric	Nine Months Ended Sept 30, 2025	Nine Months Ended Sept 30, 2024	Change
Direct Patient Care Revenue	$10.7 million	$7.8 million	Up 36.5%
Equipment Leasing Revenue	$9.7 million	$11.5 million	Decreased
Direct Patient Care Revenue Share	56% (Q3 2025)	53% (Q3 2024)	Increased Share

The direct-owned and operated radiation therapy treatment centers are clearly the growth engine. You see this in the revenue figures, but also in the geographic expansion. The new center in Puebla, Mexico, is off to a fantastic start, with revenues growing by 263% off a small base in the period leading up to Q3 2025. Also, the Rhode Island operations, including the new physicians ramping up, are contributing heavily to this segment's success. The company is actively building out this channel, with Certificate of Need approvals secured for a radiation therapy center in Bristol, Rhode Island, and a proton beam center in Johnston, Rhode Island, further expanding the domestic footprint.

The equipment leasing agreements directly with hospitals and clinics still form a significant part of the business, though it's contracting. Revenue from this segment was $3.1 million for Q3 2025, a decrease of 5.3% compared to the prior year period. This dip is attributed to lower Proton Beam Radiation Therapy (PBRT) volumes and the expiration of three customer contracts since the fourth quarter of 2024. Still, the business development team is working to secure the future of this channel; they recently signed an Existing Health System to a 10 Year Extension for an Esprit-the latest model Gamma Knife System.

The business development and sales team targeting health system executives is the mechanism that drives both the leasing extensions and the development of new direct-care centers. Their success is measured by securing long-term contracts and new market entries. For instance, the team is executing on the pipeline that includes a new Gamma Knife center in Guadalajara, Mexico, which is expected to start up in the second quarter of 2026. This team is key to translating strategic approvals into operational revenue streams.

The channel strategy is supported by specific operational metrics:

• - Gamma Knife procedures in Q3 2025 were 231, up from 218 in Q3 2024.
• - Linear accelerator (Linac) systems revenue was $2.9 million for Q3 2025, up 51.2% compared to Q3 2024, driven by the Puebla, Mexico launch and staffing in Rhode Island.
• - Capital expenditures of $7.5 million were spent through September 30, 2025, for projects including Peru, Bristol, Rhode Island, and Northwestchester, which directly fund the physical channel expansion.

Finance: draft 13-week cash view by Friday.

American Shared Hospital Services (AMS) - Canvas Business Model: Customer Segments

You're looking at the customer base for American Shared Hospital Services (AMS) as of late 2025. The focus is clearly shifting, with direct patient care now driving a larger piece of the revenue pie.

The customer segments American Shared Hospital Services serves can be broken down by their relationship with the company's two main operating segments: equipment leasing and direct patient care services.

• US and international health systems seeking advanced cancer technology.
• Cancer treatment centers requiring Gamma Knife or PBRT equipment.
• Direct cancer patients in regions with AMS-operated clinics.
• Physicians and oncologists referring patients to AMS centers.

The health systems segment, which involves equipment leasing, saw its revenue dip in the third quarter of 2025. Revenue from this segment was $3.1 million for Q3 2025, reflecting a 5.3% decrease compared to the prior year period, largely due to lower Proton Beam Radiation Therapy (PBRT) volumes. For the first nine months of 2025, leasing revenue was $9.7 million, down from $11.5 million for the same period in 2024. Still, a key relationship was solidified with the signing of a 10-year extension for a Gamma Knife System upgrade with an existing health system.

For centers specifically needing advanced equipment, the Gamma Knife revenue component for the first nine months of 2025 was $6.8 million, a 4.2% decline from the $7.1 million reported in the first nine months of 2024. This highlights the variability in equipment utilization across the customer base.

Customer Segment Indicator	Q3 2025 Financial Metric	Nine Months 2025 Financial Metric
Direct Patient Services Revenue	$4.0 million	$10.7 million
Equipment Leasing Revenue	$3.1 million	$9.7 million
Direct Patient Services % of Total Sales	56%	N/A

The direct cancer patients segment, served through American Shared Hospital Services-operated clinics, is showing strong momentum. Revenue from direct patient services in Q3 2025 was $4.0 million, marking a 9.4% increase period over period. This segment accounted for 56% of total sales in Q3 2025, up from 53% in the prior year period. The nine-month revenue for this segment reached $10.7 million, a 36.5% increase over the $7.8 million from the first nine months of 2024. This growth is heavily influenced by the new radiation therapy center in Puebla, Mexico, which is off to a fantastic start, and ramping volumes from new physicians in Rhode Island.

Physicians and oncologists act as key referrers, directly impacting the direct patient services revenue. The growth in this area suggests strong referral patterns, especially given the expansion into new US markets like Bristol and Johnston, Rhode Island, where Certificate of Need approvals were secured. Furthermore, American Shared Hospital Services is planning for future patient volume with the expected startup of a new Esprit Gamma Knife center in Guadalajara, Mexico, in the second quarter of 2026.

• Direct Patient Services Revenue Growth (Q3 2025 vs. Q3 2024): 9.4%
• Direct Patient Services Revenue Growth (Nine Months 2025 vs. Nine Months 2024): 36.5%
• New US Locations with Approved Centers: 2 (Bristol and Johnston, Rhode Island)
• International Center Driving Growth: Puebla, Mexico

Finance: draft 13-week cash view by Friday.

American Shared Hospital Services (AMS) - Canvas Business Model: Cost Structure

You're looking at the cost drivers for American Shared Hospital Services (AMS) as of late 2025, and honestly, it's a capital-intensive business, which means big upfront and ongoing costs for the high-tech gear they use.

The structure is clearly weighted toward fixed and semi-fixed expenses tied to their advanced radiation therapy equipment, like Gamma Knife systems. While I don't have the exact depreciation schedule, the cash flow impact from new asset acquisition is clear.

• - High fixed costs for equipment depreciation and maintenance.
• - Significant capital expenditures, totaling $7.5 million in 9M 2025.
• - Personnel costs for specialized clinical and technical staff.
• - Operating costs for direct patient care centers (e.g., utilities, supplies).

The capital deployment is a major cost component you need to track. For the first nine months of 2025, American Shared Hospital Services spent $7.5 million on capital expenditures, covering locations like Peru, Bristol, Rhode Island, and Northwestchester. This spending directly feeds into future depreciation expenses, which are a core fixed cost.

The shift in business mix also impacts the cost profile. As direct patient care services grow-accounting for 56% of total sales in Q3 2025-the nature of operating costs changes. The equipment leasing segment, which historically carried higher margins, is seeing revenue decline due to contract expirations. This shift to direct care, while driving revenue growth, comes with lower margins compared to leasing.

Here's a look at the key financial metrics that reflect these costs for the first nine months of 2025:

Cost/Revenue Metric	Amount (9M 2025)	Context
Total Revenue	$20.4 million	Year-over-year increase of 5.6%
Gross Margin Amount	$4.2 million	Down from $6.0 million in 9M 2024
Gross Margin Percentage	20.4%	Reflects lower margins from the shift to direct patient services
Capital Expenditures (CapEx)	$7.5 million	Drove cash down from $11.3 million (Dec 31, 2024) to $5.3 million (Sept 30, 2025)

Personnel costs, covering specialized clinical and technical staff necessary to operate Gamma Knife and other advanced systems, represent a significant, likely high, variable cost within the direct patient care segment. You see the pressure on margins because of this shift; for the nine months ended September 30, 2025, the gross margin was 20.4%, down from $6.0 million in the prior year period. This decline is explicitly attributed to lower treatment volumes in leasing and increased operating costs driven by the direct patient care segment.

To be fair, the company is managing its operating expenses well enough to see Adjusted EBITDA grow to $4.6 million for the nine months ended September 30, 2025, up from $5.1 million in the first nine months of 2024. Still, the net loss for the nine months was $0.9 million. Finance: draft 13-week cash view by Friday.

American Shared Hospital Services (AMS) - Canvas Business Model: Revenue Streams

You're analyzing the revenue streams for American Shared Hospital Services (AMS) as of late 2025, and the numbers clearly show a business in transition, moving away from pure equipment leasing toward direct service delivery. This shift is the defining characteristic of their current revenue profile.

The total top-line performance for the first nine months of 2025 demonstrates growth, driven by the expansion of their patient care footprint. For the first nine months of 2025, American Shared Hospital Services reported a total revenue of $20.4 million.

This total revenue is sourced from two primary, distinct segments, reflecting the dual nature of their business model:

• - Direct patient care services revenue, which grew to $10.7 million in 9M 2025.
• - Equipment leasing revenue, which was $9.7 million in 9M 2025.
• - Service and maintenance fees from leased equipment contracts.
• - Total revenue for the first nine months of 2025 was $20.4 million.

Here's the quick math on how those two main components combine to form the nine-month total: $10.7 million plus $9.7 million equals $20.4 million. This shows that the direct patient care segment is now the larger contributor to revenue, accounting for approximately 52.45% of the total for the nine-month period ($10.7M / $20.4M).

To give you a clearer picture of the segment performance for the nine months ended September 30, 2025, compared to the prior year period, look at this breakdown:

Revenue Stream Component	Revenue (9M 2025)	Revenue (9M 2024)
Direct Patient Care Services Revenue	$10.7 million	$7.8 million
Equipment Leasing Revenue	$9.7 million	$11.5 million
Total Revenue	$20.4 million	$19.3 million

The trend within these streams is telling. Direct patient care revenue saw a substantial year-over-year increase of 36.5% ($10.7M vs $7.8M), clearly indicating successful execution of their strategy, likely driven by new centers in Rhode Island and Puebla, Mexico. Conversely, the equipment leasing revenue declined to $9.7 million from $11.5 million in the first nine months of 2024, a drop of about 15.65%, which management attributes to lower Gamma Knife volumes and expired customer contracts. This decline in the legacy stream is being offset by the growth in the newer patient-centric model.

The composition of the revenue streams is also reflected in the quarterly performance, showing the acceleration of the shift:

• Q3 2025 Direct Patient Services Revenue: $4.0 million.
• Q3 2025 Total Revenue: $7.2 million.
• Percentage of Total Sales from Direct Patient Care (Q3 2025): 56%.

Finance: draft 13-week cash view by Friday.