Transcript
Derek Kamajian (00:00) hey, Jeremy, how are you?
Jeremy Walker (00:02) Derek, I am doing well. How are you doing?
Derek Kamajian (00:05) Doing great. I.
Jeremy Walker (00:07) Hope those questions that Mallory and I sent back were helpful for you. We were trying to get those turned around as quick as possible for you.
Derek Kamajian (00:16) It’s not going to be perfect. It looks like this company is trying to develop some of its own software tools, but it also looks like medallion can actually stand in for part of the recruiting team as well because they’re using their own system to gather all these provider documents.
Jeremy Walker (00:35) Interesting. Yeah. So tell me about like when you said it’s not going to be perfect. What were some of the red flags that either Suzanne or Khalid pointed out based on our responses?
Derek Kamajian (00:48) Yeah. So about speaking to them about your responses, I haven’t yet. Oh, okay. So we need to have a touch base. Again. I think part of this is insight… therapy is working on developing its own emr system. Yeah. And the second piece is there’s… a slight level of… the orders from the CEOS to we need to set up systems to be able to expand and.
Dave Wallach (01:21) That’s what.
Derek Kamajian (01:22) needs to be done. And right now, we’re utilizing excel sheets. So a transition has to happen. Yeah. And I think it’s also communicating that we can still use the excel sheets while we play with a new software, right? That’s basically it.
Jeremy Walker (01:39) Yeah, makes total sense. And.
Derek Kamajian (01:42) The other piece is we don’t need to use onboarding pieces… as long as we have the provider’s information in there, we can still do our credentialing, correct? Yeah, there might be some duplication, but as long as we have what we need, it’s still a very useful tool.
Jeremy Walker (02:02) Yeah, understood. Yeah. Okay. That makes sense. I mean, like I’ve said from the beginning, right? Like the business case of medallion is heavily hinged on. Are you a growing organization, right? Like usually the juice is not worth the squeeze if a company is staying at the same size of providers and they’re not adding new providers, they’re not seeing attrition, and then backfilling that attrition. And so from an overarching perspective, I think insight’s definitely in a position to be an ideal customer of medallion. But obviously that’s my perspective. But, you know, Dave and I, we talk to a lot of organizations that for whatever reason aren’t qualified and wouldn’t really see the benefit. But hopefully what we show today at least conceptually gives you a little bit of the, I guess the context that you need to start socializing some of the value that we could potentially drive. So, yeah, with that, said, I did bring Dave with me on the call today. Hey, Dave. It’s funny on zoom. You guys look like you could be brothers. So I was.
Dave Wallach (03:08) just going to say Derek, I was like, I feel like I’m looking in the mirror.
Derek Kamajian (03:12) Brother Dave.
Dave Wallach (03:13) There you go. Nice to meet you. Where are you based?
Derek Kamajian (03:16) I’m in Tampa, Florida. How about yourself?
Dave Wallach (03:18) I’m in New Jersey. So.
Jeremy Walker (03:21) Derek’s going to be the nicer brother.
Dave Wallach (03:25) My wife wants to move to Florida in the worst way we’ve got. I have a 12 year old and a 14 year old. So once they’re like out of high school, maybe we’ll start taking that more seriously. But I’ve always thought of myself as like an east coast Florida Guy like boca fort lauderdale, but we’re… going to take a trip this summer to the west coast and check it out. So.
Derek Kamajian (03:47) I say dude, I’m originally from and grew up in Rhode Island. So I was just, done with the cold, done with all that shit. So it was nice to get over here.
Dave Wallach (03:57) Are the summers unbearable? Are they? Okay? Yeah, no.
Derek Kamajian (04:00) It’s fine. You get air conditioning and everybody’s inside 10 hours a day anyway. So you don’t have to, but with the cold, you’re eventually going to have to go outside and if electricity goes off, you’re going to die.
Dave Wallach (04:10) That’s true. My wife’s grandmother died, she was not around anymore, but she was in boca and she always said if you could think of a little nine year old lady saying this, she’s like everybody complains about the heat, but she’s like you’re either in a house, in a car, in a store or in a pool. She’s like, how often are you not in one of those?
Derek Kamajian (04:29) Yeah, it’s not bad. And then, well, nice to meet you. And quick question with Jeremy. Yeah, I want to be on the same page from my discussions with the team so far and just tell me that this is also what you pulled from our discussions and from the information… 69 70 providers right now.
Derek Kamajian (04:50) We already know the communication from the CEO. She’s developed this model. She wants to duplicate this model into all 50 states, right? So there’s large expansion. She’s developed a good business, you know, four or 5,000,000 dollars. It can easily grow into 10, 15,000,000 dollars soon right now, with each provider they have that’s a 10 99 provider. They are going and credentialing with at least 20 payers per state that’s and then Khaliq said that each one of those payers takes about 15 minutes to be able to. So the contingency on expanding with this and any provider that we hire in any other state, you’re looking at 20 times 15 minutes. You’re doing 20 different credentialing payers times 15 minutes per payer at the bare minimum in labor, correct?
Jeremy Walker (05:44) I’ll just let me jump for us here. And the whole point of this is like let’s make this informal and just run through it. Obviously, there’s an additional scoping that needs to be done, but yes, I took the high end of what he said. I could make this 15. It wouldn’t really make that much of a difference. But yes, what you’re describing is so, and I assume that the lower end of the number of payers, because what we see is, and based on some of our discussion yesterday, it’s not that every single one of your providers is going to need to be enrolled with every payer in every state. It’s only the states in which they currently are going to see patients in. So I’m assuming somewhere around 12 to 15 payers per provider. If that number increases. So does the Roi and the value in these numbers here, right? So again, I wanted to take the high end here and the low end here to kind of average it out. In general, it’s going to take about 270 labor minutes, right? In order to onboard and enroll each of your providers with the medallion process. And we’d love to again in further demos like prove this out because the user experience and user interface for your team is so much more simple. And because we’re handling all the back end follow up. And once the application is actually submitted, you know, that’s where medallion completely takes over in less than a minute, you’ll be able to invite the provider and tell our team which networks or which groups to enroll that provider with. Which represents, you know, it feels silly saying that we’re going to reduce labor time by 99 point seven percent. But in reality, when you do the math that’s what it comes out to. So, yes, we’re aligned there that you’re going to see a significant reduction in the effort and the time that’s you know, Kalik and his team are spending on these manual functions.
Derek Kamajian (07:41) And I just want to make sure I wasn’t hearing things because I’m getting a little confused while I’m doing these touch points with the individual teammates as well. And then I know that you have this presentation, it’s great. But just high level is secondary to me or actually primary is actually having a source of truth that even if there’s turnover within each department, it’s no longer spreadsheet dependent. There’s one centralized database and centralized software where if people quit or win the lottery or what have you, it will have less negative impact to the organization that’s the second value prop to me that.
Jeremy Walker (08:16) Makes a ton of sense. Yeah. And I can’t really, I mean we could find a way to work that into this presentation. But I think what you described as far as like how you’re going to go to the CEO kind of once you’ve got the information from us, is that you would take my slides, make some edits based on what you think is necessary, and then bring that to the CEO. Is that still kind of how you’re thinking about introducing this? Okay? Cool.
Derek Kamajian (08:42) Yeah. So each one I’m working with each one of the departments and then each department will have a portion of the presentation that I’m going to be giving these recommendations.
Jeremy Walker (08:52) Do you know like so obviously a big portion of this like you’ve described, one of the first things you said is this growth that’s inevitable and being forecasted right now, when is that growth supposed to start? And then from there, we can kind of work back. Okay? When does this, when does a decision need to be made? How long is an implementation of medallion going to take? And can we ensure that we’re aligned to by this date? We need to be actively enrolling providers within the medallion platform. Do you know when that growth is supposed to like launch and kickstart?
Derek Kamajian (09:23) I can give a basic which I believe they had a hiring freeze and the hiring freeze was just lifted yesterday. So that’s one two is as portion of my contract. The first three months was creating this playbook insulating the organization to be able to scale after that three month time period into any states that we want very quickly obviously controlled. But we want to be able to replicate in every state. This checklist. This is the provider, this is the onboarding. These are the legal parameters to be able to conduct a behavior health or hire or bill and then roll out state hire, start filling the panel and then go, next state, right?
Jeremy Walker (10:09) So within that three month window, then… we wouldn’t need to be live within insight’s environment. You would just need to have your recommendation to the CEO and potentially like contract in place. Is that correct? Or ideally, would it be, hey, we’re actually implemented and live and ready to start onboarding and enroll providers. I.
Derek Kamajian (10:30) Would not feel comfortable expanding into any additional states… until there is an appropriate software in each department to be able to reduce errors and insulate the organization. And.
Jeremy Walker (10:43) that’s directly.
Derek Kamajian (10:44) Assigned to my role because I don’t want to hurt the organization. There’s no growth expansion until there are safe systems where there’s less waste and less harm, and.
Jeremy Walker (10:58) Just.
Derek Kamajian (10:59) like.
Jeremy Walker (11:00) transparently beyond the business case, like what do you need to see from medallion in order to feel confident that when you think about credentialing and pay enrollment that we’re the right solution? Yeah. I guess what do you need to see from us to feel good about that?
Derek Kamajian (11:19) The demo was great. All that was fantastic. I think it’s just support. So there’s going to be some with any organization changing from spreadsheet to this. Just a direct line. It’s not an email and then waiting two or three days. It’s because it’s easier for people to go back to the old ways if they don’t have that person directly at least for the first couple weeks and then pricing. So… that’s the secondary piece. I don’t know what the pricing is. We can present this, but I think making a shift in presentation to a CEO that’s used to having humans do a lot of this manual labor and then giving a price ticket and saying, yes, it’s X amount of thousands per month. But look how much we’re saving that’s a hard shift to do. So, maybe a ramp up or something like that in the pricing that once we’re embedded and it’s functional, then something else happens. I don’t know if it’s a tier pricing or what have you or there’s a test period, but I think those are going to be the top two because think of yourself as the business owner, if you own a business or this group that’s worth five or 10,000,000. We’re doing that much in revenue a year. It’s hard to shift from humans for me to say, you don’t need to hire any more people in your credentialing department, even for the next 70 providers we hire, but you’re going to pay for it on the front end with the software?
Jeremy Walker (12:47) Yeah. I think perfectly aligned there. I mean the bulk of the business case that we put together. And again today is not a final ready to present business case. It’s more of a conceptually introducing you to assure that we’re aligned on where the sources of value are. But the bulk of what we’re prepared to talk through today is really the potential cost of what scaling the team would actually cost, right? And so, I guess, you know, the CEO, you’re getting to know her more and more. Is that something that she’s going to buy into? Or is it, hey this needs to be something that has a hard dollar Roi, you know, today because if that’s the case, I mean we can still look at the numbers and see if we can make that work. But really like I said, the bulk of it is you’re not going to need to hire anyone else for the next, you know, three years on this team here’s. What that forecasted growth would look like if you didn’t go with an end to end provider like medallion. And so curious your perspective on that. Yeah.
Derek Kamajian (13:52) I think both are necessary. So what’s the, at least the time saving? And then we can equate the time saving in two. But her mindset is in playbook in expansion. In what does my company look like in one year, two year three? Like what does the revenue look like? And how can we grow 10, 20 percent per quarter? So that’s where her mindset is. So I think that growth is first and then having the secondary labor saving and time saving because look, if you save that labor time, then we can go get out new contracts. You can have in depth conversation with payers to try to get national contracts. So you’re not going to stay. But there’s a lot of additional things that you can do to insulate each department once some of this labor is removed, well?
Jeremy Walker (14:35) And one thing too that’s not a part of the discussion yet is delegation, like if they’re successful this year in growing to, you know, close to 100 providers, usually 100 providers is the cutoff where you are able to start, get delegation in place and that’s where you can see turnaround times drop from, you know, medallion average 54 days down to single digit days in a lot of cases. And so that’s the kind of long term vision that we can portray for your CEO is, hey, in the first year here’s, what we’re going to do, right? We’re going to replace the spreadsheets. We’re going to automate processes. We’re going to make the friction of getting new providers and network much easier, right? Second year. Now that we’re at 100 providers, we’re actually going to use medallion to go and pursue delegation with three payers, right? And that’s what this is going to lead to and then so on and so forth. And so we can kind of build that plan out. But really, I think there is a, you know, a play here where we start small with, you know, the core of enrollment, the credentialing, and then from there, we can expand the offerings that we deliver on. So, I think we’re aligned there for sure. One thing I wanted to show you what was that? Sorry you said?
Derek Kamajian (15:47) I’ll be quiet now and we can go through your presentation. No.
Jeremy Walker (15:49) This is why we’re having this conversation is for you to give feedback. So one thing I will highlight too is just this idea of support, right? You said this was, a big thing and not having to wait multiple days to hear back from us. So alongside myself, Dave and Mallory, who will be points of contact throughout the life cycle of our partnership, you also gain access to three people that are solely focused on your account. What I mean by that is during the implementation, you’re going to have an implementation manager who’s going to guide you through that process, assist, you know, designate hours to contribute to getting you guys live within the medallion platform. After you’re live in the environment, you then get handed off to an account manager and an engagement manager. So you’re really going to be covered on those calls with an account manager. You have a call once every quarter. So four times a year, at a minimum, they’re going to review how is medallion doing? What are our turnaround times? Is there opportunity for expansion? You know, is it time to start thinking about delegation? So really from a support perspective, you’re going to have a team of people that are dedicated to your success and to really helping insight scale at the level that they’re desiring to. So just wanted to quickly flash that as you brought up support.
Derek Kamajian (17:07) Awesome.
Jeremy Walker (17:08) Well, I already showed you this kind of labor time reduction slide really the only other like two or three more slides that I’d like to run by you today pending further scoping. So we kind of summarized the opportunity with insight into three buckets, one which you brought up on the first call, right?
Jeremy Walker (17:30) The faster that you can get providers billable, right? That the math really is just how many days sooner and how much additional revenue can be generated from that reduction in time, right? And you’ve sent me revenue metrics which we’ll break down here in a later slide. The second source of value is what is it going to cost? If you don’t partner with medallion? If you stick with the status quo, what’s it going to cost to build out the team in order to support the growth that insight’s expected to see? And then the final one which we already talked about is labor time. So I’ll break this down. One by one. The first one’s revenue acceleration. So we’ll actually start here. You had shared that the current revenue is 350,000 dollars per month. You have 40 providers that are in seat today. And if we average each month out at about 30 days, that means that each provider is generating about 291 dollars per day in revenue. So just want to pause there. Did I do the math correctly? Do I understand your business enough to be able to make a claim like this? Yes.
Derek Kamajian (18:39) That’s correct? But, they have a little weird number. So I think it’s 69 providers. But then five or six of them are not seeing patients. They’re just utilizing them and I guess they have four or five psyds or PHDS that are not providing patients. But I think it’s something like 60. You can put 69 providers, but that’s almost exactly what it is. They’re all 10 99. They’re all seeing 10 or 15 patients per week or whatever. That math is 350,000 dollars divided by the number of providers divided by the number of days per month. So 30 that’s around the correct math inputs.
Jeremy Walker (19:16) So, the only reason I put 40 here is because when you sent the second follow up to the questionnaire you’d stated, yes, there’s 69 total providers, but of that 69, I think 29 of them were interns. And so Mallory and I took a look at that and we just assumed that interns are not creating billable revenue themselves, right? Unless I’m mistaken there. Could you shed a little light on that? Yeah.
Derek Kamajian (19:43) I believe that the interns can process patients but they have a supervisor and it’s at a much lower billable rate, but it’s part of their business model to be able to process that’s. What I.
Jeremy Walker (19:52) believe. Okay, that makes sense. And really, I think the reason I trimmed it down that way too. And when we had our quick phone call on Friday, I asked about, okay, you’re going to have 50 new providers, right? In the next 12 months, how many of those are interns? And you said about half, right? So I focus the revenue and also the Roi on the billable providers and psych D’S right? So if we need to tweak that, that’s totally fine. But the math checks out either way, if you’re including, you know, if we’re including interns in this equation, then that means instead of 25 additional providers, that number drops down to or that number jumps up to 50. So anyways, I don’t know if that makes sense. The net is, if we’re onboarding, this is actually supposed to be 25. So the net is right medallion through our slas, through our guaranteed outcomes and through our averages, we believe that we can accelerate the process by 48 days. On average, you take that number, you multiply it by the number of, you know, daily revenue that’s generated. And, you see, you know, roughly 700,000 dollars in revenue generated through acceleration. So what’s your perspective on this slide as a?
Derek Kamajian (21:08) Whole? Yeah. And this is another issue again, when we’re monitoring things through spreadsheets, they’re saying… 60 to 90 days to get a provider fully onboarded and billable. So I don’t know if I believe that.
Jeremy Walker (21:28) That’s I mean, that’s good, right? I think there’s some further discovery that would need to be done because really there’s the credentialing right, which is primary source verification. It’s the moment that a provider signs a contract, how long does it take for us to credential that provider? And I think on the questionnaire that I sent you, it was about 45 days for the credentialing process. And then after that credentialing process, it was maybe 45 to 90 days to actually complete payer enrollment. And so if you’re looking at the equation as a whole, 60 to 90 days I think is less than what previously they quoted. And 60 to 90 days is really good. So I would maybe like to spend a little bit more time there and ask some additional questions. So… regardless, right? We’re going to be able to come up with an idea of what’s the value of getting providers in network? Maybe it’s not 700,000. Maybe it’s 300,000. Either way. We’re going to have a good idea of hey, this is the value that’s at stake when we have providers that are taking 60 to 90 days before they see a single patient, right? So, the second thing is we wanted to look at current fte to enrollment ratio and how that efficiency ratio translates to the growth that you’re going to experience, right? So today, 40 providers, again, I’m focused on your psych D’S and your medical staff providers, 20 payers per provider, that totals out to 800 enrollments with a team of three that you have today. That means that each full time employee is doing about 266 enrollments per year. Okay?
Derek Kamajian (23:09) They need to be re enrolled every year.
Jeremy Walker (23:13) With some payers, yes, with others, it’s every three years. So, yeah. So really this is actually less because they’re not doing all of these enrollments in the first year, but I’m giving them the benefit of the doubt and assuming that they’re being more efficient than they are. So even in that scenario, right? You’ve got 25 new providers. Again, I know the number was 50. I’m trimming it down. So 25 new providers, and you mentioned that you’re trying to get them enrolled or you’re trying to expand your payor network by 75 payers, right? So that would mean that they would need to be enrolled with the 20 that you currently have plus the 75 additional ones. So that totals out to 2,375 enrollments for the new providers. And then there’s the second part of the equation which is enrolling your current 40 providers with the new payers that you’re going to bring on, right? So they’re already enrolled with the 20. So they’re only going to be enrolled with the 75 new ones that’s 3,000 enrollments. So again, the combination of all that’s about 5,375 enrollments that you’re going to that you or the team or medallion is going to have to perform in the next year. And then when you associate that again with the current fte to enrollments ratio, you’re going to need the team to be at. I think it was 20 point four full time employees if that number of enrollments is the correct forecast. So at a 75 K per year salary which I know some of your folks are overseas. So maybe that’s high. Either way we’re looking at a very large amount of hiring and complexity that will be included if you do scale at that pace.
Jeremy Walker (24:58) Does this make sense?
Derek Kamajian (25:00) Yep. It all makes sense. Okay?
Dave Wallach (25:03) Derek, you’re shaking your head, yes, and I heard you what you just said, but is this directionally correct? You think when you’re looking at this, and if you present it internally to your CEO?
Derek Kamajian (25:12) Yeah. I think we would do a run by from the department first and just be like, hey, just these. But all these plugins are accurate. So it’s the labor plugin, which makes sense. The time saved on being able to actually process. And then what basically what the future forecast looks like? If you are going to hire, let’s just say five providers. What does five providers look like? What does 10 new providers look like? What are 20? What is 30? What is 40? That this is all scalable to be able to present appropriately, but this all makes sense. Yes.
Jeremy Walker (25:41) Yeah. And what’s interesting too is, you know, more than half of the enrollments is just simply your current providers being enrolled with the new payers, right? So even if this drops down to like you said, five or 10, the numbers are still astronomical. And again, if medallion is doing 5,300 enrollments or a 1,000 enrollments so far, the Roi already is there and makes sense. So, you know, we’re not incentivized either way to increase or decrease this number. We just want to make sure that we’re accurately scoping this out and that’s where we do want to spend some additional time with, you know, Khaliq, Suzanne, and anyone else that you think might give us a better depiction of what these numbers should be for sure.
Derek Kamajian (26:20) And then, you know, how are they managing when a contract expires? How are they managing when a license expires? This is all done by excel. And there have been historical issues of potentially provider billing underneath an insurance that’s not active, or that a license is inactive. And now the organization just lost 10 or 20,000 dollars in opportunity to bill? Do?
Jeremy Walker (26:44) You know, do you have data? And probably not because of spreadsheets, but do you have data or metrics that you can associate a dollar amount of write offs with the fact that we just missed a re, enrollment deadline. Is there somehow you could find that data or even give an assumption?
Derek Kamajian (26:59) Of what?
Jeremy Walker (27:00) That number could be the?
Derek Kamajian (27:01) Only information they gave was apparently something happened a month ago where they found 16,000 dollars in non billable of a provider that processed a patient for, I don’t know how many patient visits and it came up to 16,000 dollars in lost unbillable time. And.
Jeremy Walker (27:22) That was just because that provider saw patients for a plan that they were enrolled with but did not get re, enrolled on time.
Derek Kamajian (27:31) I think that one was a license issue.
Jeremy Walker (27:33) License issue. Okay, makes perfect sense. Cool. So, yeah. So really the summary, right? Is about 700 K that we’re going to pull forward through acceleration reduction opex, and then the labor time that’s saved. We need to spend some more time scoping this out further. I think the questionnaire got us so far but there is some nuance because of how rapidly you’re growing. I do think that, you know, this number 95 payers can definitely be trimmed down based on are they cross state and are they actually having access to all of these payers or are they only seeing payers within the state that they currently are licensed? So those are some of the things that we need to flesh out a little bit. But in general, right, is this from the discovery that you’ve done with the CEO? Like are these areas that you think is going to ultimately get her, to write a check, and feel excited about a potential partnership? Yeah?
Derek Kamajian (28:38) I can’t speak to that. I would say add an operational slide of insulating the business, which is the only, it can be titled scalability or operational insulation where there is less individual human knowledge. And now that knowledge is being transferred to the business through software that is extremely important for her and myself as well. That would be, a big win. And that’s easy to communicate. And then we start off with that. And then second is the labor scalability, which is the time because I don’t know if she knows how much time her credentialing team is spending per player to be able to get the provider’s credential. So that would be second. And then the third would be the scalability slide which is not with the labor hours. But if you’re projected to hire. And instead of doing, instead of doing the raw numbers, I would just do a scalable slide. So per five providers with an average of this many plans, it’s this much time saved. It’s it’s this. So then in her brain, she can say, yeah, well, if we hire 100, it’s a no brainer for hiring 50 or 100 providers in the next year. And then it’s not. And then we’re getting a little bit away from the discussion because everybody’s got different information of, well, I thought we were hiring 20 providers. I thought we were hiring 50. It doesn’t matter what we’re hiring. This is the scale of time saved and this is the scale with the number of providers, five, 20 fifties, 100 for the next year. And this is what it looks like. Does that make sense?
Jeremy Walker (30:18) Absolutely. So essentially, you want a business case with some very easy to define numbers that you can either expand or contract based on the.
Derek Kamajian (30:31) Feedback that?
Jeremy Walker (30:31) You receive, right? And.
Derek Kamajian (30:33) that pulls us all the way from the.
Jeremy Walker (30:36) Well, I thought we were only that number’s not, right? This number’s yeah.
Derek Kamajian (30:39) We’re getting that’s enough of I’m not dealing with that. So, yeah.
Jeremy Walker (30:42) Okay. The only thing that I would say is at some point we have to, from a commercial terms perspective, we have to pull the trigger on a forecast of growth, right? Because that’s gonna be how medallion is ultimately scoped out price wise, right? But I like the approach of hey, at the initial business case. Let’s make it scalable or retractable, so that the numbers based on whatever feedback you get in either direction, you can just pivot either way. So we’ll start with that. And then we can, I guess our commitment to you is we’ll price it to make sure that it does make sense. I mean, if it makes sense with these numbers and these volumes in theory, that makes sense in either direction as well, right? So that’s our commitment to you is we’ll make sure that we price this so that it does make sense. And there’s a significant net positive and.
Derek Kamajian (31:38) Thank you. And one final piece, I don’t know if it’s helpful or not, but if the goal is to expand into 50 states and there’s three, this is not crazy if there’s three providers hired in each state that’s 150 new providers, right? So it’s like if her goal is to get and replicate what she’s already doing to every state, you know, that. And then we get into this department saying 50, this department saying 70 recruiting said they have no issue. They could pull the trigger whenever we say, and they can get as many providers as we need in each state, right? So it’s everybody has a little slightly different input.
Jeremy Walker (32:17) See, and that’s I think that’s where maybe there’s like, a tiered pricing, that we look towards because I mean, unless you feel very strongly that there’s likelihood that you, and not you, but the recruiting team could actually go and get three providers per state like in the next year, you know, based on what we see that might take some time. And so what I’m getting at is we have what’s called skew flexibility. So you’re committing to a set number of volumes in each year. But based on the direction of the business, you’re able to pull forward if you need to and even exchange backwards, if you need to, so essentially like we’re incentivized to scope this out correctly, mutually, right? But also if the business grows faster than anticipated, then that also would have meant that, the operational cost and burden would have scaled faster, right? So again, if you grow faster than anticipated and you have to pull funds in from year two, that just helps the business case. So we’re not worried about that. But I guess wanted to at least introduce this idea of skew flex to you. So, you knew that there is some insulation if you do grow faster, we scope it out based on 50 providers and they actually do go and get 150 providers. You’re not going to get hit with this huge bill in the first year for a year for additional enrollments. So, yeah, awesome.
Derek Kamajian (33:42) Well, whatever you can do, this is having a appropriate system is a non negotiable for me. I can’t scale the business with the spreadsheets. I can’t yeah. So that that’s my main community that’s going to be the first communication, with Francesca. So.
Jeremy Walker (33:57) What else? Like we have the ability to, you know, if it’s helpful for you to ensure that, you know, you feel like you’re making the right decision. We have, you know, customers that we’re willing to get you in front of that can tell a story of, hey, this is how medallion’s grown us from, you know, 100 providers to 400 providers. And so if that’s a helpful part of this process for you as well, by all means we’d love to make an introduction. But again don’t want to complicate things, if we’re already headed in the right direction, so just let us know like what you need from us and we can try to make things work for you. I.
Derek Kamajian (34:36) Think that as so that’s not necessary. But thank you. And then as simple. So I understand the basic numbers and the scaling and the cost as simple as you can make the presentation. So start with the operational installation that’s number one, right? So no more human derived knowledge. It’s all built within the system. And then the labor hours. And then the final will be, we’re really excited you guys are scaling and this is the scaling slide, right? Basically basically cost saved per provider. And then now it’s super simple. And then, and then from there, we can have the discussions on the cost and however you do, your contracting and all that fun stuff. But this is the, this, we know that you have a fantastic software and, we need something when.
Jeremy Walker (35:32) Are you going to, when do you forecast that you’re going to make, that recommendation and that final presentation to your CEO? And then we can again, we can help make sure that things are fully ready to go by.
Derek Kamajian (35:45) That day? So, yeah. So I have an initial review with her tomorrow where I’m going to just be giving my operational input and software needs for each one of the departments.
Derek Kamajian (35:55) And then, so I’ve set meetings with her every Wednesday. So I’d say by next Wednesday, we have to have it all ironed out and then she can yay or nay. Okay?
Jeremy Walker (36:03) Let’s let’s pull up calendars and get something on the calendar for next Monday. Dave and I and Mallory will go back. We’ll review the notes from this call, make some edits, make sure that it’s scalable. We’ll include, I love that title of operational insulation. You know, no human knowledge necessary. From this point on. We’ll make those edits and try to make it as simple as possible. And then we can review it with you next Monday so that you feel like you’re armed with the right information, for the call Wednesday?
Derek Kamajian (36:34) Let’s keep for your title, operational insulation. I’ll say the human knowledge piece to her sounds.
Jeremy Walker (36:41) Perfect. Okay. And.
Derek Kamajian (36:42) then if necessary, I may invite Susan the head of the department on Monday, just to take a look at it as well. And she can be the final pick apart any of the data if it doesn’t make sense for.
Jeremy Walker (36:54) Sure. Yes, that sounds like a plan.
Derek Kamajian (36:55) Mondays on my schedule says Easter Monday, I don’t know if they have that off.
Jeremy Walker (37:00) Is that a holiday? I’m not sure we have it too. I’m not sure. Do you want, let’s push for two? Tuesday is actually better for Dave and I regardless. So let’s push for Tuesday, in case people are observing that holiday. Cool.
Derek Kamajian (37:11) Let’s do, can you do the same time? 12 o’clock we?
Jeremy Walker (37:15) Can do 12 o’clock yes. Yeah.
Derek Kamajian (37:16) Okay. And then I’ll invite Susan and Khaliq to that, and that’ll be like very simple guys. This is part of the presentation and feel free to pick it apart and ask questions and all that fun stuff.
Jeremy Walker (37:29) Okay, cool. I will send, that invite here shortly. And then I’ll let you add the two of them. But Dave, anything that I’ve missed that you wanted to cover today? Well, we’ve got Derek and we’ve got a couple minutes so we can drop early if not, but I.
Dave Wallach (37:43) have nothing to add. I just want to say, thank you, Derek for your transparency and Jeremy, thank you for, you know, just taking this far as it’s been as far as it’s gone so far, looking forward to my next conversation next week awesome.
Derek Kamajian (37:56) Thank you very much. Both of you. Of course. Yeah, likewise.
Jeremy Walker (38:01) We’ll talk Monday, Derek take.
Derek Kamajian (38:03) Care. Thank you.