Transcript
Dora Tao (00:00) hey, Dora. Hey, Taylor. How are you? Good? How are you? Good? My last thing of the day, so.
Taylor Ryan (00:07) It’s nice. I know same here. I just have like admin stuff to do after this, so.
Dora Tao (00:12) Yeah, exactly. Exactly. There’s always more to do.
Taylor Ryan (00:16) Always always. Well, hopefully, this is an easy one for you.
Dora Tao (00:20) Yeah, I’m excited to see what you came.
Taylor Ryan (00:23) Up with, yeah, for sure. Yeah. So I mean, like the goal of this obviously is like to give you an idea of like a ballpark pricing, get feedback on that. But I did put it into a slideshow with like if hopefully like if all looks good and we, you know, move to a presentation like with my boss and you said your VP usually will include like a bit more context in the slides.
Taylor Ryan (00:48) So if this looks good, then I would just ask your help to make sure that like the way I’m putting it together is going to appeal to, you know, your leadership and stuff. So you’ll see that in the slide deck, but hopefully it’s pretty straightforward for you to understand.
Taylor Ryan (01:10) I did. I was trying to obviously, I know that like your current vendor, they invoice you for like the entire thing, right? So like they’ll essentially like the cost, every state has different costs for licenses and things like that. Yeah. So like our pricing is going to be excluding those. But I tried to put together like I ran all of your states that you guys work in. And the question that I was asking you around like the percentage of like licenses per state I was just trying to give you some, I know that you’ll probably end up like doing your own math on it and everything. But hopefully I was able to add some context with like what the fees in addition to the cost of medallion would look like. Okay? Because I feel like that’s probably where you’re going to need to compare to what you guys are currently paying. So just bear with me as I’m putting those slides together and they’re kind of a work in progress, but I tried to do a little bit of analysis for you on the fees associated with the licenses outside of medallion.
Taylor Ryan (02:15) So hopefully that’s helpful. But why don’t I just share my screen and kind of show you the deck that I started putting together. So… and I know that I still owe you responses to the list of questions that we’ve been going back and forth on. So I pinged Noah, I’m just waiting on him to get back to me on one or two of those follow ups. So I should have that for you. Hopefully tomorrow I’ll send you an email.
Dora Tao (02:44) Sounds good. Yeah, it was like a really loud car outside but I heard everything. Oh, no, it’s okay.
Taylor Ryan (02:51) Do you want to wait a minute until it passes? No?
Dora Tao (02:53) I think someone’s just like revving their engine and I live in like a suburb. So I don’t know why they’re doing that.
Taylor Ryan (02:58) Where, what suburb do you live in? I.
Dora Tao (03:01) Live in castro valley. It’s just like south of Oakland. Yeah.
Taylor Ryan (03:04) 10.
Dora Tao (03:05) Minutes south of Oakland. So.
Taylor Ryan (03:06) Weird. Yeah, I think I told you I lived in the bay for a while, so I know in the city maybe you’d expect that, but like,
Dora Tao (03:14) I know, I’m like it’s a quiet sleepy town on like Wednesday.
Taylor Ryan (03:18) Like.
Dora Tao (03:19) Chill out. But anyway, okay, cool. Yeah, totally. Okay. Yeah, I think like I’m curious to see what you guys have. I think like just to maybe for the context too, like, you know, the provider, the vendor we’re using right now, there’s no like platform fee.
Dora Tao (03:34) So that will be something different. I think that will probably be in your pricing. And then, yeah, like right now, it’s pretty straightforward where it’s like a processing fee. And then like however much all the licensing stuff costs, all the shipping costs, all the fingerprint cards, like all of that stuff. So totally, you’re just going to show me basically what the like platform fee is plus or maybe you can explain it, but anything. Yeah, of course, the actual licensing stuff.
Taylor Ryan (03:56) Yeah, absolutely. So like we can kind of go through all this later, but this is just like context around like what we’re talking about like what we’re aiming to do here. Obviously, we’re going to validate some of like the per state turnaround times and all of that. That’s one of the follow ups that I have for you. But this is the pricing. So let’s go through it really quick and I’ll make this larger so you can hopefully see and I’ll send this to you so that you, you’ve got it and you review, but let me just kind of explain like what all these line items are, how we price. And then we, on the next slide, I started to put together some of the pass through fees like the fee for the license, all of that kind of stuff.
Dora Tao (04:32) Sure. Yeah, yeah. Yeah.
Taylor Ryan (04:33) So the platform itself, so like what you see, you know, like what we demoed and everything… plus all of like the services like the work that our team would be doing is all included in these prices. So in year one, you see this one time implementation and onboarding fee. So it only exists in year one. Like that’s just upfront work. And these are list prices. Just keep that in mind. Makes sense only in year one, but it’s basically just for the work that our team would do to help get you onto the platform. Outside of that like you guys aren’t going to be using us or you wouldn’t be using us for any sort of renewals. It’s literally just net new licenses. So I went off the numbers that you and I had discussed the last time that we spoke, I explained the medallion core. So like that would be the way that we charge is per year provider that’s on the platform. And so I think 60 is the number that we came to like that’s roughly the amount of providers that you guys are going to have like actually going through medallion. So that’s that per seat cost. And then per license, our fee included inclusive of the work that we’re doing. And then like the actual use of the platform is this line item. So those are the two different pieces that would like be year over year costs. And these are the annual costs. So I modeled it out over a three year projection. I know that we talked about like as of right now, let’s keep it conservative for the out years and just kind of keep growth steady assuming you.
Dora Tao (06:11) Know. And,
Taylor Ryan (06:12) we can always up these, but this is what it would look like for the medallion platform, given those volumes. So questions there, like there’s no additional like this is inclusive of the human in the loop component like plus the platform, the whole process, the whole service that we provide inclusive of the platform. Any questions? I know that it’s different than like the way that you guys are being charged right now and in a couple of different capacities. And just like the model is different. But what are your initial thoughts feedback anything?
Dora Tao (06:51) Yeah. I think initial thoughts, everything laid out makes sense. I would say it is pretty significantly more expensive than what we have right now given the medallion core plus the like basically prices the unit price per state license of like the processing fee. So that’s just what that’s just top of mind right now, that concept?
Taylor Ryan (07:16) Yeah, totally.
Dora Tao (07:17) But to your point, like I think the earlier slide, you know, like the four to five, if the turnaround time is like 50 percent of what we’re seeing right now, then maybe that’s worth it, right? Like I know we talked about the Roi and stuff like that. So, okay. Yeah, that’s my initial thought, no.
Taylor Ryan (07:35) And thank you for and that’s totally and like that’s why we’re doing this like that’s just for me to understand like what your thought process is, I know, and I was trying to compare it to, I think that you said like right now like billing looks like 20 K a month or something, but that’s inclusive of all of the fees. And so like that’s what, when I was trying to model it out like that’s why I was doing that math for you guys… cause I like in my mind, I was like, okay, the obviously, I don’t know like what the fee is, the processing fee is for your current vendor, but I’m like, okay, 20 K a month. So like two, a little under 250 K annually. And that’s what I was trying to get an understanding of because obviously, like if we go to the next slide, the application, all of these fees can really vary. So like for example, California and Nevada have some of the highest license costs.
Taylor Ryan (08:24) And so that’s what I was just trying to get an understanding of to see like where we would come in versus where your current vendor is. Yeah. But again, like, this is list. So like, you know, this leaves room for like if, you know, we, if you guys want to pursue like negotiations and stuff, this leaves room for us to negotiate, you know?
Dora Tao (08:48) Yeah.
Taylor Ryan (08:51) Any like, I guess what is your, I know the goal here was like you guys are eager like you want to move forward, you want to like make a decision. Is this in the ballpark that you would feel comfortable like presenting to your VP or, what are your thoughts?
Dora Tao (09:05) Yeah, I will. I, I’m open to taking this and presenting it to our VP. I think like my take is like I really liked your platform and I think that it will be a better user experience for like us as administrators and for our providers. Hopefully if we were to go with like a different vendor. So, yeah, initially, I would love to be able to take this back to him to get his thoughts. I know he wants, he mentioned also like wanting to meet with you VP and like, you know, okay, perfect. Great. So I can, you know, I think I’m meeting with him tomorrow morning actually. So this is perfect timing so I can kind of meet with him. Okay, great. Yeah. And get a sense of, you know, his thoughts or like, you know, what we would want to do next steps?
Taylor Ryan (09:52) Okay, cool. Would it be helpful? Like would it be helpful for me to model out like a better projection of like what the fees would be, so that you can kind of compare apples to apples? Like obviously, I know that there’s value adds like once we get you back to turnaround time analysis and all of that in terms of like how quickly this would be processed versus like your current, but like would it be helpful for me to model that out in a more, you know, like concrete this?
Dora Tao (10:23) Is what it, yeah, I think it would be helpful. Yeah, if you could model it out and then also maybe in this slide, Dak, like or maybe you sent me some other slides and sorry if I’ve lost it, but just like a screenshot of what the platform looks like. Like that way I can show it to our vq without having to do like another demo. Obviously, like I don’t think he really cares that much about like in the week and that kind of stuff. But if you can just show a screenshot of like the analytics part which I think was really great and… like the tracker part which I think was really helpful where you can see like where along the steps someone is with their licensing, like what pieces are missing? Like bar graph or not bar graph, but like a status bar, I think that would be helpful. And then, you know, it only needs to really be like this slide that’s you know, I’ll look at all the other stuff too, but I think that would.
Taylor Ryan (11:14) Be okay, perfect. Yeah, I’m I had a bunch more slides in here but like I tried to keep it simple. Yeah.
Dora Tao (11:21) I feel like these kind of simple like, yeah, you know, matter of factory to the point kind of lands the best way.
Taylor Ryan (11:28) Exactly. Yeah. Okay. Cool. Yeah.
Taylor Ryan (11:30) And I was, I’m trying to find it but we have slides that literally go through screenshots and like I can.
Dora Tao (11:37) Yeah, you might have sent it somewhere but if you have it on hand, that would be amazing.
Taylor Ryan (11:41) I will add those in here for sure. Okay. Perfect. And then when I get the turnaround time analysis, I’ll send that to you. And if it’s visually, if there’s a way that I can like that’s visually pleasing and not like too crazy to look at, then I’ll put that in here as well. Okay. But yeah, I mean, like my goal is just to make it an easy decision for you guys. Like, I know that you’re some folks on the team have used medallion in the past, like you’re somewhat familiar with it. Like it seems like a good use case. So like the more that I can do to just make the decision easy, that’s my goal. And then once, you know, like once we get my boss on and that’ll make negotiations really quick because they can just, you know, decide what needs to be done. Yeah. Okay. Awesome. Well, that was the outcome I was hoping for. Okay, perfect. So I will work on the slide deck and the follow up. And then I’ll send you the slide deck once I add in some of the slides and stuff, and maybe you just feel free to do you guys use Google docs or Google drive? Okay? I’ll share it with you and I’ll make it collaborative. So like feel free to change stuff if you want or comment and be like this doesn’t work or whatever. Yeah, and I can edit it for you. And then, yeah, if you meet with him tomorrow, yeah, just ping me and let me know what his availability looks like. And then, yeah, we can go from there.
Dora Tao (13:00) Okay, cool. Thanks, Taylor. Awesome.
Taylor Ryan (13:02) Yeah, appreciate it. Yeah. Have a good rest of.
Dora Tao (13:04) Your day, you too. And take care. Thanks, Dora. Bye.