Transcript
Delaney Crowe (00:00) hi. Is this matt? Yeah. Hi. Hey, matt. It’s Delaney with medallion. How are you? I’m good. Hey, I see this is a carlsbad member. Are you in the carlsbad area? No, I’m in Oregon, but I’m from encinitas and I saw that grounded therapy is in encinitas. Yeah. I know we actually, we have an office there. We’re actually moving to San Jose though. Okay. Got it. Yeah. I know, bummer. But we love you lived in encinitas and we loved it. Oh, yeah. It’s a good area. I know, I love keeping, my seven six zero area code. I feel like it ties me, to my hometown. I’d like to Oregon too though. Are you in like the Portland area? I’m actually in bend, Oregon. So central Oregon. Oh, yeah. Okay. Cool. Yeah, that’s even better. Yeah, no, I love it. Yeah. Well, thanks for calling. Yeah, I wasn’t sure if there was supposed to be like, a zoom or anything. No, it’s so weird. I think I must have had a wrong email or something. It was just matt at grounded therapy and that’s where, the zoom link was sent to. But this is totally fine as well too. But yeah, really, this is just like a, you know, quick 15 minute call just to see if it makes sense for us to continue chatting.
Delaney Crowe (01:17) So maybe if you want to give me like a little bit of background on what brought you to medallion. Yeah. So we have, so we own a group practice called grounded therapy and, you know, it’s all telehealth, all psychologists and, you know, we’re adding a couple people a year, kind of a thing. So, you know, smallish, mediumish, you know, I’m not sure where it falls but simultaneously, we also own an ehr. So, you know, grounded obviously is a customer and it’s pre market. So we’ll be launching soon, but as we kind of fine tune some of the features, a roadmap et cetera, you know, one thing that sticks out is the opportunity to, you know, streamline the credentialing process for clients. We’re very familiar with simple practice of course, and know that they are partnering with you all in some way. Yeah. And so as we kind of started shopping around to understand, you know, what’s out there? Where are there? You know, what part of the process could some of these services cover? And then, you know, who’s doing it really well. Where does it integrate? Naturally? We wanted to connect with you guys and understand a little bit more about what you do. And how it might fit. Got it. Okay. Yeah, that totally makes sense. So, sounds like are you thinking from the lens of grounded therapy or mostly the ehr or both of those? The ehr, the ehr. Okay. Yeah. So you can think of like grounded as, you know, one, it’s a bunch of therapists that are building this ehr, and two, you know, we kind of have built in our test subjects. So, you know, should it be something that’s a good fit, then, you know, we’ve got a couple people that we want to kind of go through the process with you guys to kind of understand what is it actually going to be like from a customer perspective? So that’s kind of how to think of grounded and how they fit in this. Okay. Yeah, that makes sense. And so with the ehr, how many like organizations or I guess, how many providers or what’s the volume look like there? Well, we’re pre launch, right? Pre market. Oh, gotcha.
Delaney Crowe (03:41) Okay. Yeah. So, you know, we’ve we’ll launch to, you know, we’ll launch internally in April and then more broadly in, June. I’m going to be specific. Got it. Okay. Yeah. So, you know, we do have some projections all of that. They’re you know, fairly conservative for the first year. Yeah, since it’s all internally funded. But yeah, I mean, you know, let me know what would be helpful. I know you guys need to kind of understand what things look like. And then from a cost structure et cetera. You know, I’m not sure how you guys orient yourself if it’s you know, pay as you go, if you will, or if there’s a floor and then some sort of pricing, like how do you guys orient with your startup? Yeah. So, yeah, that’s a good segue. So, we don’t do pay as you go. There is an annual spend set up so the floor would be 50 K. And then, you know, depending on needs, you know, or, what volume and how many payers and providers that’ll you know, that number can change, but that’s you know, yeah, that’s the floor for us.
Delaney Crowe (04:59) So yeah, I guess it would just kind of depend on like your need and if it made sense. Well, I mean, I think it just makes sense. Like, so what, what’s the average? I know there’s probably lots of elective services that you guys can do. But from a credentialing perspective… you know, can you briefly kind of tell me, what does medallion cover? Yeah. Versus like, what do you? Need the provider to do. And then, you know, if there’s like a rough kind of blended cost, you know, per provider per credential, you know, that would help me kind of understand, you know, back to the envelope math, what the break even would be totally. Yeah. So like at a high level, medallion’s a centralized platform for all things provider network management. So that’s going to be your onboarding, your credentialing and your payer enrollment. So we’re able to contract like sales level agreements with AI automation, and we have delegated agreements with the top payers. So we’re able to ensure that a new provider is fully onboarded and billable with a three day turnaround time. So that’s really hard we’re putting in, can I just ask real quick? Yeah. Sorry, I hope I’m not rude. Yeah, the… major payers that you’re delegated credential does that, you know, that would support existing direct contracts often with a delegated credentialing, you gotta agree to some other contract that’s a good question. And I don’t know the like that gets a little bit into the weeds for me. I do have, I do have like a one pager like something that we’ve kind of put out that is specific to delegated agreements. So I can send that to you. And then that might honestly answer the question. But if not, I can always like take that back to my team, and say, hey, you know, this is give you a better answer. Yeah. Got it. Okay. And then like the major one cigna and et cetera. Yeah, all the majors. So, yeah, that’s that is typically people are partnering with us because they’re either growing rapidly or they’re multi state and it’s complicated. And, yeah, it’s you know, it can be a beast credentialing for sure. And so that’s really, our bread and butter is making sure that those providers can be, you know, billable as quickly as possible and there’s no admin burden on you all? So sure. Okay. Yeah, that, that’s helpful. And then I assume you guys have some sort of, you know, integrations with platforms or, yes, is it all kind of like held in your own portal? And yeah, we have end to end as far as like integrations. So, you know, with whatever you’re currently using, we’re able to set up with, okay. So an onboarding perspective, you’re talking like you’ve got a, you know, a psychologist applicant… you know, that. Wants to join, you know, the group or, you know, somebody that is or is it more like… we’ve got like a new user of betterhr, and you’ve just got to get them up to speed. What kind of application are we talking or onboarding? Are we talking? Are you talking about like ongoing monitoring or like getting like a new person? You had mentioned you had mentioned onboarding? And, and so I wasn’t sure if that was like contract onboarding or like, hey, you know, better. Ehr, like having an account with you is onboarding. Like, what do you mean by onboarding? I just like getting, I know it’s so true and especially in this industry, I’ve come to learn, I’m like one one thing can mean so many different things like getting like basically getting that provider like onboarded into our platform and ready to like practice and be billable.
Delaney Crowe (08:58) Got it. Okay. Cool. Okay. That’s super helpful. Do you have like a blended like rule of thumb kind of amount that it typically costs per, you know, provider, getting them credentialed. And through this process, that way I can kind of understand is, you know, roughly 50 providers to agree to them, you know, to kind of hit that floor as a minimum. Is it, you know, yeah. So typically we say 25 providers is like as yeah, as low as 25 providers, but again, it can really depend too on, you know, are you multi state? You know, there’s a few factors. So it’s a bit more nuanced but, and it sounds like it sounds like maybe, is there like a timeline of like when you’re trying to get something up and running or well, you know, like anything we would love to… we’d love it to be ready for when we’re ready to actually develop it.
Delaney Crowe (10:04) Yeah. But the reality is we wouldn’t be able to turn our attention to that until like April first. Yeah, absolutely at the earliest. And then, you know, I think at this point it’s you know, knowing that there’s a floor we probably want to get through testing with our own team. Yeah, make sure get to the actual launch. Yeah. And so that we can, you know, just from, a prudence perspective, but yeah, you know, if there’s I totally understand the like floor and the need to do that you guys work with much larger organizations. And if there is, if there is interest, in doing some sort of, you know, test if you will or something from a more startup perspective… that doesn’t require that floor?
Delaney Crowe (10:46) Obviously, that would be a little bit of a different timeline for us. Yeah. Okay. So, yeah, well, then let’s do this, matt. I’ll send you over my, an email and I’ll include a little bit more information specific to those delegated agreements. And then, you know, if any other questions come up from there, you can just reach out to me directly and I’ll be able to, you know, get you the best answer as you’re continuing to kind of build this out. But yeah, happy to always, yeah, be a resource or, you know, if down the line, you’re like, okay, we’re ready. It makes sense. Then, you know, we can always have this conversation again and I can, connect you with one of my product experts or solutions consultants. They can get a little bit more in the weeds, of what this looks like, for you and, you know, the ehr, yeah. Yeah, I just kind of wanted to understand, you know, a little bit more. So I appreciate this conversation totally. Yeah, of course. Okay. Cool. Well, yeah, let me do that. Let me send you over an email, but yeah, again, if anything comes up, I’m, happy to help. And if you know, you’re yeah, happy to chat whenever. Sounds great. Cool. All right. Thank you. All right. Thanks so much. Have a good one. You too. Bye bye.