Transcript
Mallory Smith (00:01) did he invite, did he just forward the message to his other team members?
Jordan Tantleff (00:08) I’m sorry, the meeting? Yeah.
Mallory Smith (00:10) Sorry, the meeting invitation because I know he mentioned he was going to have people on the other call.
Jordan Tantleff (00:15) So, I never saw that like anyone else accepted it that he forwarded to. And I did shoot him an email early this morning because like this was like a placeholder just in case like it didn’t work.
Mallory Smith (00:26) Okay. Gotcha.
Jordan Tantleff (00:28) So, he didn’t respond. So if he was going to join with the team or not. So, I’m hoping he hops on. But, okay.
Mallory Smith (00:34) Well, no worries.
Jordan Tantleff (00:36) If not, we can just hang out.
Mallory Smith (00:38) I’m so cool with that. God. Let me look at these emails. They scare me every time. Okay, move you over here?
Jordan Tantleff (00:49) You’ve just been running around from back to backs all morning. Oh.
Mallory Smith (00:53) Me, yes, but I don’t mind it. I think this is the first morning that I’ve been like busy in a while, which is good because, you know, it happens over a Q1. So I feel more like myself this morning for sure.
Jordan Tantleff (01:04) Gotcha. Kicked you into gear. I see Scott in the waiting room here. Okay?
Jordan Tantleff (01:19) Hey, Scott.
Scott Cohen (01:21) Hey, good morning, Jordan. How’s it going? Nice to meet you. Mallory, good. It’s overcast here today. So, I’m excited that it’s not like 90 degrees and sweltering in the middle of March today? So that’s a positive. How are you guys doing you?
Jordan Tantleff (01:38) Know, it’s like mid thirties in New Jersey. So, I would take some sweltering weather right now. So all.
Scott Cohen (01:44) right. All right. We’ll trade next week. Then when it pops back up again, I could take some snow. I haven’t seen snow since last year. Can you believe it, so.
Mallory Smith (01:54) Scott, where are you located?
Scott Cohen (01:56) I’m in Glendale. So basically right around the corner from universal studios hollywood, a little sleepier. Yeah. How about yourself?
Mallory Smith (02:06) I’m in Nashville. So, when you said you hadn’t seen snow, I was like, no, we did have the whole snow ice storm. I guess a couple of months back.
Scott Cohen (02:11) Yeah, you guys when you get it, you get it bad. We’re.
Mallory Smith (02:15) just like not prepared. It’s like we’ve never seen salt trucks before. We’re like, what are these things? It’s ridiculous?
Scott Cohen (02:21) Oh God, ice storms, that’s yeah, no, no, I’ll take New Jersey snow over that. Although granted. During my time on the east coast, I did have to trudge through some like waist deep snow days on occasion. So those are not the most fun. I will, I’ll give you. I’ll give you guys that one Jordan. It.
Jordan Tantleff (02:41) gets nasty. You get just like locked to, your home or apartment for a week and you hope you stocked up your fridge during that time, is what happens. But it’s funny. I was in Vermont this past weekend skiing and there’s no snow anymore. So we were pretty much ice skating down the mountain and it got rained on us for a little bit. So we’re like, you know, what it’s time to call it and hang out the lodge for the rest of the day.
Scott Cohen (03:02) There we go. Some good old apres… awesome. Awesome. So, I didn’t get anyone else on this call because one of our team members, Chris, he said that they had spoken to medallion last year like earlier in the year and that it wasn’t quite a fit but he wasn’t sure what had changed recently.
Scott Cohen (03:28) And also that last year, the idea of kind of partnering to do actual payer credentialing… wasn’t on the like roadmap. And now that’s part of our roadmap is trying to offer a solution to our clients like, hey, you guys have an in house credentialing team or you pay this other team to your credentialing that’s completely separate. You can then partner and do a full solution with us. So before I brought him in again to do another call with you guys, I wanted to sit talk to Mallory a little bit about the product and just make sure it’s a fit so that I’m not eating up his time because he’s swamped with recruiting and swamped with credentialing due to the fact that we don’t love medtrainer. So once we have like this conversation and I kind of get a feel for what is in the product, I think then we’ll move it, we’ll bring Chris back on and then we’ll get josh in. He also comes back in end of this week. So that would be kind of the roadmap for I think how this would work best for us at healthbridge just because… I know that he’s just, he was just like, well, I think we spoke to them. I just make sure that they can do what we need because it didn’t seem like it was a fit last year. So that’s just my transparency for you guys here. You can let me know if stuff has changed since last year and then we can go from there.
Jordan Tantleff (05:10) That’s totally fair. And maybe like a deep dive demo today doesn’t make the most sense if we need to go through at a high level, we can certainly do. So. I know Mallory had some clarifying questions around kind of the use case itself. But Mallory, I don’t know if it’s helpful to start there for you. Let’s.
Mallory Smith (05:28) Just start there, absolutely no Scott. So Jordan was able to catch me up on the previous conversation that you had, with him and Anika. So I guess some of my first questions is let me validate, we absolutely, would work with third parties. We have partnerships with RCM companies, aco, pcas, across the nation. We’re working with a radiology group that they actually staff radiologists themselves. So I think we definitely have a path here forward as far as like we’re talking the same language. So, my first question for you regarding credentialing, what type of credentialing are you doing for these providers? And I know it’s not payer, credentialing. We can talk about that. You’ve already clarified that for me when I think of credentialing, I mean like primary source verification, ncqa level versus joint commission level, if you could just delve into that.
Scott Cohen (06:19) Okay. So in terms of the credentialing that we’re doing it’s, it varies per health center that’s kind of our, so our model is that, we provide the telehealth service. It’s not really a telehealth service. We have physical staff in our clients health centers, but our providers are offsite. So, it’s kind of a hybrid approach. And so each health center in particular, by county will have different requirements. So, what we’ve kind of been doing lately is just going by the strictest and the global requirement for all of our providers and just pulling in… the info. We’re making kind of a list as we go and, you know, the new health center comes in and says for our county, we need this or, for this health center, we need this, and we’re pulling in making a template that works essentially for all the health centers. And so you could consider it kind of in house, but the submission goes through, we take the submission from the provider, you know, we ask for the documentation. They send it to us and then we send it to the health center. And then usually, and this is where we’re thinking about doing that white labeling part. Usually… that’s where it kind of leaves our hands and it’s up to the health center to follow up, with their work, you know, work history or their peer reviews. And that’s kind of where things slow down, but also making those templates having those kind of global templates that have all the documents using a DocuSign feature which I think is being implemented into medtrainer. But it’s not, it’s like really buggy is kind of what we’re doing right now. And so we don’t know necessarily to what degree the health center is going to require for credentialing until we get that contract signed and we get in the door. So it’s usually kind of a wild goose chase. It could be super strict. Some of the health centers have really long processes for doing this. And then some of them are just, you know, email birth date and we’ll figure it out down the line. But that’s less common than the alternative.
Mallory Smith (09:01) Okay. Thank you. I appreciate that. So just make sure I understand your information gathering. You’re collecting the documents you’re putting into the customized packet per health center, but they’re performing the actual credentialing, the actual verifications.
Scott Cohen (09:15) Yes, they, because the provider is technically a provider for, as an independent contractor is technically a provider for that fqhc, and they have to be credentialed with the fqhc. We don’t have the authority at the moment to do their credentialing on their behalf. So that’s kind of where we, that’s where our gap is. But in terms of the, yeah, so we’re kind of just glorified document gatherers and signature gatherers at the moment.
Mallory Smith (09:48) Okay. Thank you. So that means the doctor, the physician, they are like a W to employee of that health center, but you’re just helping with the onboarding and collection process?
Scott Cohen (10:00) Correct. Exactly. Okay. Thank you.
Mallory Smith (10:02) Okay. So typically, when we work with third parties, the aspect that when you had the conversation a year ago, that makes sense to me now, while we may not have been the best fit, is that we will absolutely gather all the documents. We’ll put all the information together, but we’ll also perform the services. So the reason why partners will associate with medallion is because we have a three day SLA for ncqa, we have a five day SLA for joint commission. So we’re gathering the documents. We have an average of a two day onboarding timeline, but we’re actually performing the work and then pushing the results back to those individual customers. So we wouldn’t necessarily gather everything and then send back to the health centers. There is a version of that we do is called hospital applications, where we will take the specific health center form and then we will gather the provider’s information onboard them into the system, send it back to them via the portal, via the email, whatever they’re looking for, wait for them to make a decision, and then we’ll update our system accordingly if they’ve been approved, rejected, approved, with contingencies and things like that. So we could have a hospital application conversation, but I wouldn’t say the level of credentialing that you’re doing is necessarily hospital level. Would you agree with that? I?
Scott Cohen (11:22) Would agree with that. I don’t believe that it’s hospital level… that makes sense. So, I guess kind of on our end, we need to kind of think, do we, are we ready for this partnership or is it more, are we six months away from putting this plan together? I think that’s kind of where I’m sitting in terms of how I understand it. I feel like I feel like… okay. So that makes sense. So in terms of in terms of the solution that you do offer… it doesn’t make sense for us to just do the information gathering is what I’m picking up on.
Mallory Smith (12:06) That’s correct. And I can actually give you an example. So there is a primary care association that we partnered with last year in the southeast. And essentially their makeup is they have 26 different health facilities that they’re all a part of this primary care association or the pca. And then 10 of those different facilities decided to come together to partner with the pca and say, yes, we want medallion as our vendor for all things credentialing enrollment, ongoing monitoring, revalidations, and things like that. So what that process looks like today is that each of those 10 different facilities, they all had different forms, different applications, different processes when it comes to tracking and whether it was pay or enrollment or just internal credentialing. They all now have access to the medallion platform. They will invite their providers to the medallion platform. They will request if it’s credentialing or enrollment that they need. And then they come back to the platform to review all the results. So we were able to consolidate and streamline standardize, all of the different, they each had nuances. One was using cred stream. One was using credential. My doc, one was using medtrainer. They all now use the medallion platform and then the pca themselves, they were the ones that we partnered with at the highest level, so that they are then able to just treat it as a pass through fee to each of those individual health centers.
Mallory Smith (13:26) So they did a consumption model. So if health center one needed 10 applications that month, then the pca was in charge of charging them for 10 of those applications or if they needed 25 at health center two, so they track it from that level. They have recently expanded to more of those available 26 facilities. So instead of just 10 partnering with medallion, now everyone saw the success we have, I think like 13 or 14 facilities that we’re partnering with in the pca. So there’s definitely an opportunity there that if you wanted to be more of that central source of truth, have everyone there at healthbridge use the same access, have all of your different health centers have access to medallion platform and review everything. It would also kind of circumvent needing a separate process and separate custom forms for everyone?
Scott Cohen (14:16) Okay. That was very informative. So question, I love that as like a long term project. That sounds great. And I know if I throw that in front of our CEO, he’s going to be like let’s do that. The question that I have is, I… know let’s do the math here. If we’re if we’re offering this, let’s just think optimize the offering you guys charge by what the provider, is it a monthly fee? What’s how’s that work? And just in general, and.
Mallory Smith (14:58) if I could take a little liberty and assume where you’re going with this, we already have pre built business models for you. So when we’re a third party, you’re a third party. We love third parties. So, the different business models that we typically look at here is that if it’s a pca, all of those health centers, all kind of like share the cost. So they do what we call the pass through fee model where if we charge 100 dollars for an application, they’ll turn around and charge each of those health centers, 100 dollars for that application. Our revenue models which we typically see with acos, rcms, ehrs in this space is that if we charge 100 dollars per application, then you in turn, if you were that third party would charge 125 dollars per application for each of that. So when it comes to pricing and Jordan, I’ll be more than happy to have you like follow up on this. We charge by provider seat in the platform. So provider licenses rather than user licenses. So anyone at your health centers can have access to it. We only charge by the number of providers that we store in the platform. And then we charge by services. So think of it as a bucket. If you were to buy 500 enrollments annually, then you would have 500 enrollments to disperse among, your groups as needed. And then of course, we offer roll up consumption reporting so you can see exactly which health center has purchased or used this many at this view.
Scott Cohen (16:23) Got it. Okay. That’s that’s super helpful. Now… the, where my head is sitting is like, is there a possibility to do some sort of hybrid approach, as we bring on the program? But I think that might be a conversation for a later date. But in terms of kind of how… this would work, is we, our company oromed, and healthbridge, we do right now, we’re primarily doing dental, but we are going to be moving into optical. We, we put together our first pilot for that. We’re going to be moving into mental health, and we also are two of our board members and our CEO have a consulting business called optimize that we’re going to be merging in. And so kind of with that in mind, they approach the health centers before we approach the health centers. And if we had medallion as a service to offer, obviously, they’re not all going to take it. They’re not all going to say, hey, yeah, we want to switch, but I know that some of them would and… probably a significant portion would. And… so that’s kind of where I’m thinking to myself. Do we, it’s going to have to be a question of, do we jump on this now and try and figure out a hybrid approach? If that’s even amenable to your team? Or do we put a kind of a hold on it on this on medallion conversation for now until we’re absolutely ready to jump in and do that. So you let me know what you think, no.
Mallory Smith (18:16) Of course, and these are conversations we have with each of the partners and your expertise. Especially when we think of third parties. We actually already have a pre built marketing survey that we’d be happy to share with you. It could be white labeled. If you need to. Essentially, we just provide you with the information so that you can pass to any interested party and basically say we’re thinking of partnering with a third party for credentialing. Or maybe you could say we’re thinking of offering credentialing as a service just as a part of oromed, right? And then from there, we have questions such as what’s your provider count, how many enrollment applications do you submit a year? What’s your average turnaround time when you’re thinking of internal credentialing versus payer credentialing? So, what the questions that we provide on that marketing survey ultimately roll up into what we call a business value assessment or just a typical bva. And that would get us an idea on if you want to do this as a phase one project approach, how much of a volume you’re working with? How many interested parties would want to be a part of that? And that way when we contract with you at the highest level, then you’re able to say, yes, we need a bucket of 250. We need a bucket of 500 based on the interest from the surveys that we gathered.
Scott Cohen (19:27) Beautiful. That’s that’s definitely that would get things moving smoothly. We have pretty good relationships with our CEOS and cfos. So, you know, and everyone always, you know, when you put candy in front of them, they always get excited to start a new project. So, so, okay. That’s that’s helpful. Now, in terms of in terms of… timeline, I know that, you guys want to make a sale, I’m going to be completely honest. I don’t want to like string everyone along with this project and a bunch of sales calls and me say, hey, I don’t know yet. So I just want to understand like what you guys would like in terms of timeline or in terms of like in best case now that you understand kind of where we’re at also, you know, if… you know, we’re also working on a project with intersystems, they’ve been really patient with us because we haven’t been ready to, you know, pull the trigger because it’s a huge implementation and we just, you know, we just haven’t been ready to hire the team for that, but they, you know, we check in occasionally once every couple of months for the last couple, you know, since last summer… and, you know, so they’ve been very patient. But in terms of how you guys like to do this, just let me know so that I can kind of also bring that to, our CEO.
Mallory Smith (20:58) Yeah, absolutely. I would say when we’ve done this exploration in the past, usually when we share the survey with you, it takes about two months to gather full results from everyone. It just, it really depends on how fast you want to move on this initiative, how quickly everyone can get a response. But we typically say about a two month turnaround timeframe on that. So if you wanted to revisit this conversation after we sent you the survey, we can of course, send you case studies, any collateral that you would need to have a part of that. Then that’s just what I’ve seen in the industry as far as a timeline for next.
Scott Cohen (21:33) Steps. Awesome. Okay, awesome. I’m just making a note of the two months.
Mallory Smith (21:40) Sure. And Jordan, I mean, would you agree with that?
Jordan Tantleff (21:43) I would agree. And, you know, we’re not trying to rush into any type of partnership that, you know, doesn’t isn’t fully thought out and, you know, doesn’t make fully, you know, enough sense right now. So, yeah, we’re going. We’re willing to go at your pace. I mean, we’ll send you, we’ll send you over this documentation. I’ll put together a follow up kind of like I guess the goal of what this, you know, documentation is that we’re sending over. And like, you know, the suggested two month time turnaround time that we usually see and we’ll take conversations from there. We don’t we don’t need to kind of, you know, lead the cart before the horse if that’s, the saying for that.
Scott Cohen (22:16) Awesome. Okay. So I think I don’t really think that there’s I don’t have any more questions on my side here. I think it’s going to be kind of a just it’s going to be, do we investigate the project with the surveys or do we not, it’s kind of going to be that’s what it sounds like to me.
Scott Cohen (22:35) And I think that’s definitely what would make sense. So that’s I’ll probably in theory have a call on Friday with my CEO to bring this to him and he gets… back on Friday. So I don’t supposed to, but if it’s not, yeah, yeah, exactly. So if it’s not, it’ll be next week and then he’s been out for the last three weeks. So I’m sure he’s got way more catching up to do and other stuff to do besides my, it needs, but, I think I should have some sort of answer next week… in terms of whether or not we want to go forward and go through the effort of doing the surveys, but I think that’s probably. So, yeah, that would make sense. That sounds.
Jordan Tantleff (23:27) Good. I’ll follow up by email with kind of all the documentation we’re talking about. My cell phone’s in my email signature. If it’s easy, just shoot me a text on like kind of what the general feel is on moving forward and we’ll just take it from there.
Scott Cohen (23:41) Awesome. Sounds great. Thanks Mallory. Thanks, Jordan. Thank.
Mallory Smith (23:45) you. It was a pleasure meeting you today.
Scott Cohen (23:46) You too.
Jordan Tantleff (23:47) Thanks, Scott. Take.
Scott Cohen (23:49) care. All right. Take care.