Transcript
Peter Bosworth (00:00) good afternoon, team. Hi, Megan. Hello. How are you?
Meghan Heist (00:08) I am. Well, how are you? Both?
Peter Bosworth (00:12) Doing well, doing well. Thank you. Yeah, thanks for jumping on with us of.
Meghan Heist (00:18) course. Of course. I am not certain if Jen is joining. I believe she will… Jen etkin, if we want to give her a minute.
Peter Bosworth (00:31) Sounds good. Yes, I’m just going to make sure she was on… the invite.
Meghan Heist (00:39) Okay. Yes. Okay. Good.
Peter Bosworth (00:44) Where are you calling in from Megan?
Meghan Heist (00:47) Jen and I are both right outside of Philadelphia, Pennsylvania. What about you guys?
Peter Bosworth (00:53) Oh, nice. Awesome. I’m in Colorado and Jen’s in Arden.
Genevieve Seney (00:58) Yeah, Arden, I’m in jersey. So, I’m in atlantic highlands, New Jersey. Whereabouts in Pennsylvania, are you?
Meghan Heist (01:05) Jen and I are both right outside of Philadelphia. Okay?
Genevieve Seney (01:09) Okay, cool. I have a lot of family down in south jersey, collingswood area. So familiar.
Peter Bosworth (01:17) Good.
Meghan Heist (01:19) Good, good. All right. Well, let… me see. I know she’s been back to back today. If she’s unable to join, we can jump in. Why don’t, we give her one more minute and then we can jump in and I can catch her up.
Peter Bosworth (01:42) Perfect. Okay. That sounds good. We’ll give her a sec.
Meghan Heist (01:52) We’ll give her until four after.
Genevieve Seney (01:56) It’s like in college when people leave the college one.
Meghan Heist (02:01) Five minute rule. Yep, love it.
Genevieve Seney (02:07) I was just going to say, I don’t think we’ve met, but my name is Jen. Sini, I’m a manager on the account management team, so it’s good to meet you.
Meghan Heist (02:15) It’s good to meet you as well.
Peter Bosworth (02:17) Thank you. Yeah. And I’m Peter belsworth, I’m an account manager here at medallion, and I may have met with Azura a long time ago, but it’s good to be reconnected.
Meghan Heist (02:27) It is good to be reconnected. Who is Mira that’s who Mira is? Yes. Give me some context.
Genevieve Seney (02:36) Yes, yeah, no, absolutely. So, Mira is also on the account management team. She is one of the account managers as well, that we sort of rotate between the client community in terms of what we need and when we need it. So that’s why Peter is spearheading today’s, discussion.
Meghan Heist (02:53) Okay. Sounds good. I’m like, I know she is the person that I ping a lot when we’re having issues, not Azura specifically, but we have some physicians and I’ll reach out to her, and then she gets us in touch with the right resource. Sure. Okay. Absolutely. Okay. We can jump in. I can bring Jen up to speed.
Peter Bosworth (03:20) Okay, great. And we’ll send you an email with a summary as well as the slides after the call. So yeah, we appreciate you meeting with us. Quick agenda for the call today in the next 25 minutes. Hopefully plan is to review kind of the historical trends of the consumption.
Peter Bosworth (03:37) So what Azura used in the first year of the contract, we are now in year two of the contract. Yeah, discuss the… how much Azura has used versus what’s been purchased to date. And then discuss growth projections. If there’s anything in the pipeline that would suggest more need for licenses. And then based on that conversation, establish some next steps. So that is my agenda. Anything else you’d like to cover?
Meghan Heist (04:10) No, I think that sounds great.
Peter Bosworth (04:11) Awesome. All right. So a bit of a lot of information on this slide, but essentially, you know, the contract term is from September 20 24 to September 20 27. Year one of the contract. We’ve outlined what was purchased. So it was just, it was pretty simple contract. It was just the medallion core seats, 18 of those and 21 licenses in each year. And then the medallion core seats are obviously the provider seats themselves. And then consumption wise, there are 30 providers on the platform and you ended up using exactly 21. So in year, so… obviously overshot on in terms of just the provider seats. In terms of year two, the year in which we are now 30 providers on the platform, you’ve used 16 licenses of the 21, but you’ve also, yeah, used one license renewal, one CSR renewal. The kind of purpose for the call today is just that when the consumption eclipses the purchase number, we just want to get on a call to discuss basically… to reconcile those two numbers and align on some kind of addendum to do that.
Meghan Heist (05:34) Okay.
Peter Bosworth (05:36) And so I guess at this point, we would hopefully, you know, would love to understand if there’s any growth… in the pipeline, like do you have more providers coming on plans to get providers licensed in multiple states?
Genevieve Seney (05:56) Yes.
Meghan Heist (05:57) I mean, short answer is, yes, it’s never ending. That’s what it feels like that the great news is right? That the team feels that medallion is a great resource. And especially once we get a physician loaded… well, it begs the question for me if the team needs to go back and look at, do we need to remove some physicians? However, what the team appreciates about medallion is, once the physician’s in there, it makes it very easy, right? To continue to get licensure for them or renew licensure. Sure. And so, because of that, the volume has increased substantially in terms of what we might have initially anticipated versus what’s actually happening. And so, Peter, this is extremely helpful. And, you know, I’m sure following the call, you’ll send me some information, but I’d like to share this with the team for awareness. But yes, I mean, I anticipate that I don’t have a number, right? That feels very nebulous to me. But I certainly anticipate that there will be, you… know, additional licensure requests over the course of the year. And in addition to that, I know that our credentialing team has started to leverage medallion in terms of requesting… CDS and deas. And so, I’m sure that that’s driving it as well.
Peter Bosworth (07:42) Yeah. And that’s helpful to know. And I’ll definitely send this all out to you. One thing. So we’re essentially looking to the point of today’s. Call is to align on a contract addendum that bridges the gap between now and September 20 fourth, 20 26.
Meghan Heist (08:03) So that’s this?
Peter Bosworth (08:04) The remainder of the year two, what we so like at minimum, that figure would be like the current overconsumption 1,388. And then the… there’s 2,850 dollars worth of licenses in upcoming consumption. And so, I don’t know if you happen to have medallion up in front of you, but if we track upcoming consumption, meaning these are requests that were made in the platform but they haven’t necessarily been marked as consumed yet because they were just requested.
Meghan Heist (08:47) Okay. Yeah. So… we,
Peter Bosworth (08:55) yeah. And then there’s some other figures here. Like on average, we’re spending around 29 60 a month. If we just kind of adding the current overconsumption and then the upcoming consumption and then multiplying this number times the… April, may, June, July, August would come around 17,000. That’s just a jumping off point. But I guess, what our ask would be like projections on how many licenses you would need between now and the end of September.
Meghan Heist (09:35) Yeah, I don’t know that. I have that. I guess my question, is there not ability to bill us as we go?
Peter Bosworth (09:48) Sorry, Jen, do you want to answer that one?
Genevieve Seney (09:51) Yeah. So, so short answer is, no, we don’t do like a pay as you go model. There’s a lot of reasons for that. Contractually we need to sort of on our side be staffed to support all of the client community, understanding sort of where those volumes land and what resources we need to allocate to the different clients. And so sort of what Peter’s is obviously displaying today, right? Is that in order to fulfill the requests in the platform today and your upcoming requests over the coming months, we just need to align with you on what those numbers look like, whether or not we can provide in the platform, the data of requests, and exactly like what Dea csrs or state licenses you’ve done in the past like three months for you guys to do some predictions on your side. But ultimately, what we need from you is just an idea of directionally what those volumes look like to cover your year two spend?
Peter Bosworth (10:51) Okay.
Meghan Heist (10:55) Yeah, it feels nebulous, I can’t guess. So, I’d have to talk with the team.
Peter Bosworth (11:04) Yeah. Oh, sorry. Do you know if Jennifer etkin is like more closely aligned to that, understanding the amount of licenses that you would need or is that?
Meghan Heist (11:15) No, she’s not… in the interest of transparency… the request for additional licensure, it just comes in based on need. And a lot of times it’s flowing in to me which is not supposed to happen but that’s what happens… and there’s no, there’s it’s really dependent on oftentimes. What happens is we have physicians. So we have so many ambulatory surgery centers across the nation and we have a multitude of physicians who support a handful… of those, right? They kind of float around. And recently we’ve had some changes in physician complement. And so as we’re looking to add additional physicians to kind of float… we’ve been adding additional licensure for those physicians. But even as we engage with new physicians to support other centers, they oftentimes need a licensure. So if we are talking to a physician in Pennsylvania and we’re bringing him down to Virginia, we’re putting that in but we don’t know until we’re kind of in it. So we could take a shot in the dark. Our credentialing team would have better arms around the need for CDS or Dea. But it really kind of aligns right with the licensure needs because if we’re getting a Virginia license, the physician then also needs a Virginia Dea, right? And so the two almost go hand in hand.
Genevieve Seney (13:06) Yeah, totally understand that. And a lot of clients are in sort of that position for licensure. I think what we can do and what we can align on following today because we will need an addendum in place before end of month since you’re over consumed on your current year. I think what we would propose then is we’ll put together the addendum for what you’re currently over and what spend is currently upcoming. And then my recommendation would be, is Peter will get you sort of the historical data in terms of what you’ve requested over the past, call it year six months. You can kind of filter that how you’d like. And that way you can give us sort of a at least an idea of what the next few months look like. And with that, obviously, if you were to under or overshoot, that would still carry into your year left.
Genevieve Seney (14:03) Yeah. So you’ll still have a year left to carry that over. Again. If you want to be conservative, we can revisit after end of September for your additional year spend. So that’s sort of the option. I would see if you’re unsure for past September.
Meghan Heist (14:19) Okay. That makes sense. Okay?
Genevieve Seney (14:22) Perfect. So I think that’s what we can do. Peter, sorry, go ahead if there’s anything else, but I think we probably have an idea of where to start.
Peter Bosworth (14:30) Yeah, no, I was just going to say that so I would, we can plan on me following up with this slide deck, a summary of our conversation, a full kind of export of your consumption to date in this contract term so that you have a sense of like how you’ve been consuming. And then the ask, and then I’ll have like an ask for just like the inputs for number of new licenses, number of CSR licenses, and the number of providers. Okay? Does that sound simple enough?
Meghan Heist (15:03) That sounds simple enough? Okay? Awesome.
Peter Bosworth (15:09) And then, Jen, do you think should we schedule another call for next week to review those inputs? I was.
Genevieve Seney (15:16) going to say, I guess Jennifer, depending on your, obviously, we have, you know, less than sort of a working business week left here. Would you be able to get us that by end of week? Is that realistic?
Meghan Heist (15:28) I don’t know just being honest in terms of other priorities, probably not. So I’d yeah. Okay. Hopefully by next week, we’d.
Genevieve Seney (15:42) be able to get that. Yeah, why don’t we, is it possible to, we’ll do another calendar hold for this time next week? So at least have time to touch base on the proposed addendum. We can do this all async, you can provide us your volumes and we’ll get the addendum over to you. But just that we have something on the calendars to touch base on the 20 fifth, if that works.
Meghan Heist (16:02) That works. Perfect. Great.
Peter Bosworth (16:06) I can put that out. Okay?
Meghan Heist (16:09) Awesome. Well.
Peter Bosworth (16:11) Thank you so much. Megan. Appreciate your time and keep an eye out for an email from me. Okay? Let me know if you have any questions in the meantime?
Meghan Heist (16:20) I will. Thank you guys. Nice.
Genevieve Seney (16:22) Meeting you. Thanks again. Bye bye.