Transcript
Nneka-Shay Grant (00:00) hi Bridget. Good afternoon. How are you? I’m good. How are you? I’m doing pretty well myself. Thanks for taking the time to hop on with me today.
Bridget Wolfe (00:07) Yeah, absolutely. Thank you. Yeah.
Nneka-Shay Grant (00:09) Of course, really excited to have this conversation. I know medallion and journey clinic has had some relationships in the past, so would love to just hear more about, you know, how you guys are currently handling credentialing and enrollment. But really the goal for today’s call is to understand what’s important to you today, what’s important to the business, and to give you enough information about medallion so that you can determine if it makes sense to evaluate us as a credentialing partner. So curious to see a bit more about yourself, your background and maybe we can dive into what you guys are doing today.
Bridget Wolfe (00:45) Yeah, of course. So I am currently managing the full revenue cycle and pretty much anything that is in relation to that in terms of commercial insurance. And so, we have several providers, a mix of psychs like psych MPS and therapists who are spread across. I think we’re at 14 different states with insurance right now and we’re sitting somewhere probably about 50 providers, but we have been partnering with therapists in order to help them take insurance. And we have a tremendous amount of interest and growth in that area. And so currently, we’re working through some credentialing bottlenecks of trying to get like 130 150 Ish, probably up and running and anticipate it to be much more than that because we have a network of about 2,500 therapists that we work with. So as you can imagine that’s not easy to maintain. It was easy when we had 30 providers or so, but it’s growing. We have one credentialing person who is just kind of contract. She handles basically anything payor credentialing related for us. And where we’re really kind of stuck at the moment is one, how do we scale this? Because that is a blocker. We know we have more therapists who are interested. We’re kind of slowly crawling through credentialing, but we also are using spreadsheets to track. We don’t have any great way to like create tasks where, we know, you know, we need to follow up with this payor for this provider in this state at day 30 and so on and so forth. And then the other piece that I think we’re not there yet but we’re interested in the future because we are in so many states. There’s an opportunity for national payor contracts. However we need to stand up some kind of delegated credentialing and I don’t have a lot of firsthand knowledge about that and so looking for some assistance in that. And also, you know, consulting on how to do it and get it up and running. And all of those types of things potentially too. I think that’s a future state for sure, but it’s definitely something that we want to work toward which then of course, we would, you know, need assistance with the primary source verifications and all of the things that come with that. So current state we’re just looking to be able to, you know, really figure out a way where we can scale smart and maybe have one person who’s kind of overseeing all of this. But we are able to put it in a platform and see where everybody’s at and export rosters and all of the things that we can’t really do in an automated way today.
Nneka-Shay Grant (03:33) And.
Bridget Wolfe (03:33) then there may be some interest to, I don’t know if I’ve talked to a couple of organizations. So forgive me because I don’t know if medallion offers the actual like behind the scenes work of the credentialing, in addition to just like the platform, so,
Nneka-Shay Grant (03:48) Yeah, awesome. That’s thank you for that. That’s a great kind of rundown and introduction into how you guys are currently managing this. And to answer your question, yes, medallion is a software plus services organization or kind of tool. So, yeah, we like to think of ourselves as a technology first platform, but we do have the internal team to manage the parts of the process that can’t be automated. So essentially, it’s an end to end solution. And as you were mentioning before, just having one person on your end to kind of facilitate the relationship between you and medallion is essentially how it would function. So that’s exactly how we would work with an organization like yours. Especially one that’s in growth mode and looking to one centralize the process, have visibility into things like re, credentialing dates and having access to rosters and things of that nature that’s exactly where medallion would come in. So, you know, traditionally there has been, you know, just kind of two ways to handle the credentialing that you kind of mentioned which is one building an internal team and maybe having a software to support them. But as you grow, you probably need to add headcount and deal with the limits of that system or two. Just outsourcing to a third party which would work sometimes, but often you kind of lose that control and visibility into the process. So medallion is kind of solving for both. So we are the healthcare technology company. We’re backed by the likes of Google Salesforce, optum, and we’re using that AI and automation to handle the entire provider lifecycle. So credentialing licensing, pay enrollment. And we’re cutting about 90 percent of the manual work out of the process. And for the parts that kind of still require that human judgment that’s kind of where our team comes in. And we have specialized expert on our end to essentially ensure accuracy and compliance. So I think would be a great fit for what you’re looking for especially as you guys kind of grow and look to scale the process with your network of 125 therapists. So would love to definitely continue conversations and loop in an account specialist who can kind of give you more information into like what exactly the partnership look like, what our pricing model is like? And eventually a demonstration of the platform. But just curious if there’s anything else I know you mentioned delegation as something that you might be looking into the future as something that we can definitely handle for you as well. Just curious if there’s anything else that’s top of mind for you that you would like to cover in. That next conversation, I.
Bridget Wolfe (06:31) think that’s a good starting place. I know we previously used medallion for licensing. Yeah. And we took that back in house because it was a cost thing. And also, we are really only working with our clinical medical director… to handle his licensing and then everybody else kind of does their own.
Bridget Wolfe (06:51) I don’t know as we grow if that’s a service that we may want to revisit. So, I think when we’re talking pricing, it would be helpful to understand if there are bundles and how that may be included because I think we’re fairly new. We’re probably like, I don’t know what four or five years into this at this point. And so there’s still a lot of ironing out, you know, what do we really need versus what can we do on our own for a bit to kind of stretch the funding that we have? But, yeah, beyond that, I think everything else, is great that you touched on all of it. So super excited to see the platform. I’m a visual person. So that will help me a ton. Yeah.
Nneka-Shay Grant (07:32) Absolutely, very excited. I think we could definitely be a great fit for you guys especially because we’ve had that relationship in the past for your licensing. So would love to schedule some time with that with an account specialist and they’ll be able to kind of give you more color into, you know, everything that we kind of discussed today, plus setting up some time for that demo after that first conversation. So looking into my calendar now, are you Central Time or eastern?
Bridget Wolfe (08:02) I’m in, Central Time.
Nneka-Shay Grant (08:03) Okay… awesome. Let’s see.
Nneka-Shay Grant (08:17) Perfect. And would you have some time? Well, we have one slot tomorrow at four P. M. And then for Wednesday, we have one at 12 and then 1,215 to 1,245, typically a 30 minute conversation.
Bridget Wolfe (08:33) Let’s do 12 on Wednesday. Okay, great.
Nneka-Shay Grant (08:38) Sounds good. That should be on your calendar in a few seconds. And is there anyone else that we should add on this call for now? Or would it just be you?
Bridget Wolfe (08:47) I think just me for now. I have my chief of staff’s been sitting in some of these conversations. And so if she’s available, I may add her, but I know she’s pretty back to back this week. So for now just me.
Nneka-Shay Grant (08:57) Okay. Sounds good. Alrighty. That should be on your calendar and we’re definitely looking forward to continuing the conversation. I took some great notes so I’ll be able to explain to them exactly what you’re looking for, and they’ll come prepared.
Bridget Wolfe (09:09) Awesome. Thank you so much. I really appreciate your time.
Nneka-Shay Grant (09:11) You have a good one. Bye bye bye.