Transcript
Nneka-Shay Grant (00:00) bye. Good afternoon.
Yocheved Wasserman (00:04) Hello. How are you? Good afternoon. Sorry about that. Sorry for the delay. Sorry, sorry, no.
Nneka-Shay Grant (00:08) Worries at all. I figured you’re running a bit late. I know we had only 15 minutes. Do you have a hard stop at? What is?
Yocheved Wasserman (00:17) It, no, we’re good.
Nneka-Shay Grant (00:19) Okay. Awesome. Now we can get right into introductions. My name’s Anika and I’m on the partnerships team here at medallion. So really, my role is to give you a high level overview of medallion, understand a bit more about what we guys are looking for in terms of credentialing and enrollment. And if there is a fit, I will definitely be able to, guide the conversation and set up, next steps. But really, the goal for the call today is just to understand what’s important to, you know, what’s important to the business and then give you enough information about medallion so that you can determine if it’s a good next step to evaluate us as a credentialing vendor. So, we’d love to hear more about you yourself, your role and what you guys are looking for.
Yocheved Wasserman (01:01) Yeah. So we’re an Aba therapy company. We’re located in Brooklyn, New York. We operate in another 15 states, 20 states. Sorry, no worries. And we are looking for a credentialing software. So, we currently have one that we’re using that we started using a couple months ago. Healthstream. We are looking for, our goal is to have it as much automated as possible. So pulling in all the, information from our providers. So, finding the forms for us, inputting as much information from, you know, the chqh logins, into the actual form, so we can submit it as least, human or manual work that’s what we’re looking for right now. Yeah. And with a good workflow, let’s put it that way.
Nneka-Shay Grant (01:55) Understood understood. So, just, to dive a bit deeper into what you said. So, you said that you guys are using healthstream or just got healthstream a few months ago. Yeah. Why are you guys looking to change now?
Yocheved Wasserman (02:09) I’m saying we never liked it from the get go. Okay. We thought again, one of the main things were the forms, so we thought it would be more useful but it’s not.
Nneka-Shay Grant (02:19) Okay. Understood. Yeah. So you guys are essentially still doing a majority of the work within the platform manual manually? Yes. Yeah. Okay. Makes sense. So I definitely think medallion could be a good fit. Typically, what we hear is you either have an internal team that’s using a software like healthstream, but as you grow, you either are dealing with the limits of that manual system or having to add headcount or outsourcing to a third party, but which sometimes you often kind of lose control and visibility and maybe some of those turnaround times get impacted there. So. Medallion.
Yocheved Wasserman (02:58) Yeah, we have our own team that does it in house. We have okay larger group. We have probably six or seven employees that are.
Nneka-Shay Grant (03:11) Makes sense. Yeah. So what medallion is solving for is essentially both of those predicaments where, so we’re a healthcare technology company. We’re backed by Google. We’re backed by Salesforce, optum, and we’re using AI and automation to essentially handle the entire provider lifecycle. So from credentialing to licensing to pay enrollment. And by using that automation, we’re able to cut about 90 percent of the manual work that’s involved in the process today. So for the parts that still require human judgment, we do have specialized experts on our end to ensure that there’s accuracy and compliance every step of the way. So really it’s that combination of automation AI plus the experts which allows us to commit to turnaround times for the work that we do. So, you know, if we miss those turnaround times, we’re on the hook for that. But really we’re in the same boat as you to get this process as much automated as possible and done as fast as possible. So, I know a lot of folks… when they have an internal team, they’re looking for just the software. So I want to I guess clarify that medallion is a software plus services kind of organization. So what that means is we have the internal team that’s going to be handling the manual process, the few parts of the process that are still manual. But for the most part, the majority of the process is automated. So just curious if that’s kind of aligned with what you’re looking for. Yeah.
Yocheved Wasserman (04:43) So we’re looking as of now like more on the software because again, because we have our team, yeah. So we have seven employees that do credentialing in state and out of state. So we’re looking for a software to help them. Yeah.
Nneka-Shay Grant (04:58) Understood. And medallion, essentially, we would, you would have to partner with us for the services piece of that as well. So typically, in an instance like this where you have an internal team, that team would either be reallocated to other parts of the business where they would be needed or essentially not required because medallion takes on most of the work. So just curious again, like if that would be something aligned with what you’re looking for or are you guys just looking for software?
Yocheved Wasserman (05:32) I don’t think we’re going to move them to different parts because we hired them for credentialing. Yeah, that’s the team that they’re working on credentialing. So, you’re basically saying that… you would fire all the basically there would be no one on our internal team doing credentialing there would be.
Nneka-Shay Grant (05:54) People and we can do analysis with you on how many people exactly you would need. But essentially, a lot of times in your instance, we see maybe two to three people that are needed on the team and then medallion to kind of be like the liaison between you and medallion essentially, but you don’t need a full fledged team because of the kind of automation plus services that we offer. So just, you know, if that’s something that you’re open to at least taking a look at, I.
Yocheved Wasserman (06:26) Would be open to just look at it. Yeah, why not? Okay?
Nneka-Shay Grant (06:28) Awesome. And I know you mentioned that healthstream you know, you guys are still probably like doing it manually. I’m curious if, you know, what your turnaround times look like or anything specific that you’re trying to solve for?
Yocheved Wasserman (06:42) Nothing specific. Okay. Just that we want to get this as efficient as possible and as fast as possible and how.
Nneka-Shay Grant (06:51) many providers are you supporting?
Yocheved Wasserman (06:55) One a little over 100, maybe 150? Okay. Understood. And I know.
Nneka-Shay Grant (07:01) Folks have different definitions for credentialing and enrollment. So when you say credentialing, do you mean like running the psvs and things like that or payer enrollments where you’re enrolling them with the payers, payer?
Yocheved Wasserman (07:16) Enrollment, payer enrollment. So getting our bcbas, credentialed with all the insurance companies looking for contracts, getting us contracts with insurance companies… okay? Contracting the groups… credentialing the groups because we operate in every state. So every state has its own group. So contracting the groups.
Nneka-Shay Grant (07:41) Contracting groups. Okay? Makes sense.
Nneka-Shay Grant (07:48) Yeah, that’s typically where medallion comes in especially if you’re looking to grow. So just curious how many providers you’re bringing on or looking to bring on we.
Yocheved Wasserman (07:56) Bring in as many as we have clients. The more we have clients, the more providers we bring on, yeah.
Nneka-Shay Grant (08:02) Do you have an idea roughly maybe every month, every quarter, how many providers you bring on?
Yocheved Wasserman (08:07) One second, sorry.
Yocheved Wasserman (08:25) Sorry about that. No worries. How many do we bring? I don’t know… I can’t give you a number. I don’t have a number on it back of my head, no.
Nneka-Shay Grant (08:40) Worries at all. We just want to understand kind of what your business looks like.
Yocheved Wasserman (08:44) We’re growing, let’s put it that way. We’re growing, yeah.
Nneka-Shay Grant (08:47) Understood. And you said you guys are in all 50 states… currently?
Yocheved Wasserman (08:51) We operate in, I would say 20 states or 15 states and accounting? Okay?
Nneka-Shay Grant (09:01) Makes perfect sense. Yeah. So if this is, you know, if you guys are open to seeing what the automation plus services model kind of looks like for you guys, you know, I definitely think this could be a good option for you at least from our perspective, like from what you’re saying, you know, you guys want it as automated as possible. Medallion does have a proprietary integration with caqh, so we’re able to pull in about 70 percent to 80 percent of that provider data directly from caqh and also push data into caqh to have both platforms updated. So, what.
Yocheved Wasserman (09:37) I’m understanding is that it’s not really going to be our team having anything to do with your software. Is that correct? So the software is going to be, you guys are using that software. We’re just basically giving you, I don’t know a list of providers and we’re telling you, okay, we need it to be credentialed with… 15, 20 30, 40, 50, 60 different insurance companies. And then you guys do that. Exactly? Am I understanding it? Correct? Exactly?
Nneka-Shay Grant (10:00) Okay. Because most of the process is automated, there really is not a huge lift on your team at all. So that’s why you essentially would not need an entire team because the automation does most of the work. And then, you know, the parts that do need human oversight, we have an internal team for that. So your team would just be kind of over seeing the process telling us what you guys need. Like, hey, we need these providers credentialed in these states or we need them enrolled with these payers, and then medallion would take on that work for you. So really, it’s a fully automated, fully outsourced model. Got it.
Yocheved Wasserman (10:38) Yep. How does your costing go? Yeah. So.
Nneka-Shay Grant (10:42) We bill essentially per provider. Yep, per provider, I guess like per enrollment or, you know, whatever that provider needs, do you?
Yocheved Wasserman (10:53) Have like a range of cost, how much of that would be per provider? Good question.
Nneka-Shay Grant (10:59) Let me see if I can pull up… a quick calculator for you, but I know off the top of my head, our deal sizes are typically like averaging around 50,000 dollars a year. Okay? And I, if I can find it, I can give you maybe an estimate of how many, say, 150 providers would be for pay enrollment? Yeah.
Nneka-Shay Grant (11:44) So, you guys have 150, let’s say, maybe you’re growing, what do you think like maybe 10 to 20 providers annually?
Yocheved Wasserman (11:55) No, probably more than that, 50… 60 annually… at least. Okay?
Nneka-Shay Grant (12:39) Alrighty. So, it’s… not letting me get a number for you, but essentially, that’s exactly what the next step would be. It’s just getting you to, executive or account executive to kind of go through, okay, what does pricing look like? What does, our structure look like in terms of, if you guys were to move forward with something like this, what are the cost savings? You know, what is the value of medallion? So, you know, if you guys are, if you’re open to it, and you want to see what the structure would look like, you know?
Yocheved Wasserman (13:10) So, you’re saying, but you would give me an average of how, like what would be, the cost? I know it’s not an exact, but you were saying around 50 K, that would be the per year I’m.
Nneka-Shay Grant (13:22) trying to give you an average, but my calculator is not allowing me to input anything. So I can’t let’s see.
Nneka-Shay Grant (13:39) Okay. So we, let’s say the 50 grand average is for, I don’t know, maybe like 50 providers. Okay. So I would say like an average deal size, like, from my perspective, for 100, 100 to 150 providers, greatly depends on, you know, how many new providers are you bringing on, how many existing providers you have? And I would say expect anywhere from like the 50 to 100 grand mark, but again, very high level, very, just an estimate number. So the next step, if you’re if we can set up some time, maybe next week, if you, if you’re open to it, would be to get you some more detail around that, and around what an actual relationship and a partnership would look like, got it. Okay. So.
Yocheved Wasserman (14:25) Let me speak to our director. Let’s see if she’s interested in this sort. Yeah. And I’ll email you if, you want to schedule another meeting? Okay? Yeah.
Nneka-Shay Grant (14:37) That sounds good. I’ll send over as well. So, you have my information and just let me know. I’m happy to reschedule for you, no.
Yocheved Wasserman (14:42) Problem. Thank you very much.
Nneka-Shay Grant (14:44) Thank you. Bye. Have a.
Yocheved Wasserman (14:45) Good day.