Transcript
Genevieve Seney (00:00) hey, Peter.
Kimwaters (00:01) Hey.
Genevieve Seney (00:02) You want to share your screen? I mean, it’s pretty straightforward. I know we didn’t get a chance to connect.
Peter Bosworth (00:10) Yeah, I was wondering if the expectation is on who’s driving the call? Yeah.
Genevieve Seney (00:14) If you’re comfortable with it, go for it. If not, I totally can up to you.
Peter Bosworth (00:20) Candidly. Do you mind if?
Genevieve Seney (00:21) I, yeah, yeah, no, absolutely. I’ll do it. No problem, just.
Peter Bosworth (00:24) Like to maintain as much good cop, good faith as possible.
Genevieve Seney (00:28) I like it. Okay. Sounds good.
Peter Bosworth (00:30) They’re not in the waiting room quite yet.
Genevieve Seney (00:33) Oh, give it. Give it. It’s all lettering.
Peter Bosworth (00:35) Oh, you’re the host?
Genevieve Seney (00:37) Yes.
Genevieve Seney (00:42) Hey, Kim.
Kimwaters (00:44) Hey, how’s it going doing?
Genevieve Seney (00:47) All right. Sorry, we’re a few minutes late here. We’re back to back.
Kimwaters (00:50) Oh, I totally get it. We are good.
Peter Bosworth (00:54) I get it.
Kimwaters (00:55) Hey,
Genevieve Seney (00:57) are we waiting? Do we know if Alex is joining today?
Kimwaters (01:00) I would think he would be, but we can give him just another minute and step back in if we need to.
Genevieve Seney (01:09) Yeah, yeah, no worries. If you want to ping him or we can send him a quick note. I actually didn’t see him accept it. So, I wasn’t sure, but.
Kimwaters (01:17) Oh, okay. Got it. It was one of the times he sent over though, right? Yeah. See. Thank you.
Kimwaters (02:23) We’ll see. No. He’s always got multiple like multiple… accounts. He’s got to have open, so.
Genevieve Seney (02:34) No worries. But.
Kimwaters (02:37) Give him just one. We can go ahead and get started and, okay, always follow up with any questions, okay?
Genevieve Seney (02:46) We’re happy to, oh, I actually see he’s in the waiting room now. Perfect. Oh, great. Yeah.
Genevieve Seney (02:56) Hey, Alex. Good afternoon. Hey.
Alex Wang (02:59) Sorry for being late.
Genevieve Seney (03:00) Oh, that’s okay. Thanks for joining. Awesome. Well, we could dive right in one new face on the call today. We have Gabrielle Norton. She heads up our account management team, gab, if you want to say a quick hello? Yeah.
Gabrielle Norton (03:12) Sounds good. Thanks, Jen. And nice to meet you guys. I’m up to speed on everything. So, just jumping in as additional support here. And nice to meet you guys.
Kimwaters (03:21) Nice to meet you perfect.
Genevieve Seney (03:24) Well, we can sort of dive right in. We wanted to just kind of wrap this up based on our previous discussion and sort of talk through path forward.
Genevieve Seney (03:32) So really there was only the two open items we wanted to talk through today which was the delegated rosters and the comprehensive monitoring or additional checks that your team might need. So kind of to start off with delegated rosters we did sort of take a look at all the templates that were sent over.
Genevieve Seney (03:49) Your team will need 10 delegated rosters or reports sent out on a monthly basis. So what we wanted to do is just kind of give you lay out the options for you guys to decide how to move forward and really sort of two options here. The first would essentially be for both options. We’re going to go ahead and build them out. We actually already think in process and underway, but I think for the first option, right? Is that essentially you guys would utilize that SKU flexibility that’s in your contract for the additional six rosters. So what does that mean? Essentially you would just be consuming the amount of the six in dollar spend across your total contract value at your current rate in which your contract is set forth for the rosters, option one? Any questions on that before I jump to option two?
Alex Wang (04:40) Yeah. I just read option one too. I would jump right in what’s the dollar implication here. So I think like I guess when we say SKU flex, how much buffer room we have right now in our current year one. And then like how much kind of this white space we’re eating into here?
Genevieve Seney (05:01) Yep. Yeah. Let me pull up your contract unless Peter or gab you have in front of you. Yeah. And.
Kimwaters (05:07) Genevieve, real quick. We’ve got. So we’re going through a payer process like mapping call later today as well. And there are, while we have the delegated rosters are one thing. We also have situations where we enroll via a roster that we’re not delegated on. That’s completely different and obviously should be Symplr, but that’s not eating into this, right?
Genevieve Seney (05:29) Yeah. No, no, that’s not at a cost. Yeah, those we map automatically to our payer enrollment. Okay?
Kimwaters (05:34) Great. Yeah, thanks. Of course. Yeah.
Peter Bosworth (05:37) So the unit cost per roster per year is 2,850 per roster per year.
Alex Wang (05:45) Yes, I know that price I’m saying based on what we have right now is every, I think you all should have most of the data we have. So like if we’re paying, I forgot the number like 300,000 dollars a year, right? A year one. And then based on the data we’re all seeing right now, are we at 250 K? Do we have 50 K buffer left? Or are we having, you know, 25 K buffer left? And we’re eating 22 K of that buffer. So that’s the question I’m trying to get to.
Genevieve Seney (06:12) Yeah, Peter, what’s the total contract value for year one? The?
Peter Bosworth (06:16) Total contract value is 356 two. Okay?
Genevieve Seney (06:21) So essentially, that’s the total dollar contract value you have to use in year one, Alex, and then, how it works, right? Is like anything that’s consumed up front. So meaning the roster builds would essentially be consumed up front. So the 10 times 2,800 that would be deducted from your total contract value. And then it basically works as you start to submit your pay enrollment requests or your credentialing requests, those start to get consumed at the unit cost as well. So, I guess like kind of your answer of how you start to deduct from your total contract value, is that what you’re looking for?
Alex Wang (06:56) Oh, yeah. But that’s helpful. Thank you. I think what I just don’t have a clear picture on is, are we with the data we have uploaded today or the data you all have? I understand, you know, some of the costs will be occurred throughout the year as we do different things. But just based on current assumptions, are we forecasting what we have right now with all the one time and, you know, expected this year ongoing stuff. Are we going to be at 300? So we have 50 K left or are we going to be 340? Because what I’m trying to get to here is like I don’t want us agree to say we’re going to do skew flex now and then like three or six months down the road, you all tell me we don’t have enough white space left in the year one contract as we did skew flex because… I just don’t want to have that conversation six months again later. Say like you all got to pay for something else. This is, this is just kicking the can down the road.
Kimwaters (07:58) So, Alex, can I ask a maybe clarifying question to that? I think the part of the question is like with the current load that’s all covered in the like implementation fees, right?
Kimwaters (08:10) That we’re paying that are going to like spread out or whatever. And then like the roster builds start to cut into the 350, is there anything else with like the current data set that you have that is going to eat into that? Or is it just anything new that we request that’s going to start hitting those skews? So.
Genevieve Seney (08:33) The great question. So, yeah, what will hit like immediately during implementation, correct? It would be obviously your implementation fee, the delegated rosters, and then as you start to submit your requests, and then once we import your providers, that will be starting to like every day, those start to add up as well with your ongoing monitoring. So if you submitted, I think you guys purchased nine or 306 providers, if I’m not mistaken.
Kimwaters (09:00) We just, the load just happened about an hour ago. So there’s like 237 in there. Hey, Alex, the import file got loaded.
Genevieve Seney (09:10) Good news. Yes, there’s.
Kimwaters (09:14) 237 today, so.
Genevieve Seney (09:15) 237 for core and compliant monitoring will start today, basically. So every day we start to count on those as well.
Gabrielle Norton (09:25) I think that’s a good segue to like to talk about the buffer that you’re thinking of Alex, like we probably can’t give you a direct number. But if we say the two 30 or whatever we just said and you purchased just over 300, if you were to take 70 providers times the annual cost, you know, like if you hire no additional providers today, you have that buffer to start with.
Gabrielle Norton (09:45) Obviously, you’ll have some provider turnover. You guys are growing like you have a plan to add providers. So it’s like where does that timeline fit into this annual schedule? And then that’s where the buffer builds in. So even just that chunk of the X providers that have not been loaded and you have that space where times the annual cost is a dollar amount of buffer. We could do a similar exercise of like, OK, you’re contracted for 500 enrollments. We know off the bat, you need 200 and then on average, each provider is enrolled with 10 plans moving forward. Like we can work with you to do that math a little bit, but it will be just like a little bit of more vague math because we’re operating off a lot of assumptions and then all of the subscription costs. So the provider medallion core the ongoing monitoring. And then if you guys have caqh management, those are consumed on a prorated daily rate. So if you’re at two 30 today, like you’re only going to be consuming for two 30. If you go up to 250 tomorrow, you would consume against 250. If you go back down, you’ll be consuming against the lower number. So you’re only charged daily for those not like the annual rate per provider upfront.
Alex Wang (10:53) Got it. That’s helpful. But I totally get the math. It’s going to be a lot of assumption based but I think like to your point, Gabrielle like you all should know how many providers we’re going to have. And then you like you obviously have the contract on kind of what we purchase, all that stuff. Like do you all mind just lay out that math because I just can’t I don’t think I’m going to commit to an option on this call? Unless I see the numbers?
Gabrielle Norton (11:21) Sure. Yeah, totally. And.
Kimwaters (11:24) We do have, do, I mean we do have Alex… I’m putting together like, the next round of, you know, priority one and priority two, like next delegated contracts that we’re pursuing. So working on that, I mean the goal is to have, you know, several more of those done by the end of the year as well. So, yeah.
Alex Wang (11:50) But I think that’s more reason we need to know what this buffer we have, right?
Kimwaters (11:54) Agreed. Yeah, yeah.
Genevieve Seney (11:57) I think completely aligned and that obviously segues into option two. So to your point, if you do have that estimation, we’ll give you our estimation of again option one and then you can kind of let us know how many additional you might have before the end of the year? Because again, the option two sort of takes the rosters you have today and we would give those at a further discounted rate, understanding that they’re additional and understanding you might even have more than that. So that’s again just the two options for you to weigh out once we get you some data on option one.
Kimwaters (12:28) Got it. Okay. Yeah. And then what would the discounted rate look like? I guess would be helpful to know?
Genevieve Seney (12:33) Yeah. So I think maybe for us, obviously you’re 2,800 now per roster? Yeah, I think that’s right. Two 850. So we would further discount it based off of like again what you kind of tell us before the end of this year, and we can give you a number for the 10 today, if that also helps after this call. But essentially, what happens, right is like if you say you have 13 by the end of this year, all 10 starting today would be counted at that further discounted rate, not the 28 50 that we have in place today. So, gabby, I don’t know if you have a number in mind for the 10 total versus what would be anticipated for the full year that Kim will provide us with.
Gabrielle Norton (13:18) Yeah, we can as soon as we like figure out the total needed plus like you said the additional two potentially then I can give you a better estimate there. Obviously like we hear your frustration here. And we want to work with you so I can get you a specific number just not off of the top of my head right now.
Kimwaters (13:35) Yeah. I mean, I’ve got to give you volume for that so that’s not a problem. Well, we can get you that info, but it would definitely be helpful to know like to Alex’s point, like how, where are we at? How far into the 350 are we? So that we can make a good decision?
Gabrielle Norton (13:50) Yeah, absolutely.
Alex Wang (13:52) Yeah, because I just want to because I think just to what I’m getting at is if we all have a similar conversation six months from now. So just to be like perfectly direct for a second, it’s like I was not anticipating this conversation two weeks, three weeks into the implementation. And this is making me question like what’s going to come after the implementation. So it’s making me just question the viability of the partnership. And this is not what we anticipate the partnership to look like three weeks into it. So I really don’t want to have this conversation six months down the line or at 12 months mark. Now you tell us, hey, you’re going to have a 50,000 dollar gap versus what you purchased for year one. So I just want to get ahead of all of that because I think year one, we kind of put everything in the budget and the board approved budget. This is basically going back to change all that kind of stuff. So I don’t think we honestly have the appetite for any wiggle room here. Yeah.
Gabrielle Norton (15:01) I think totally hear you on that too. And I think one thing I know we’re only a couple weeks in and absolutely not how we want to start the partnership off. But as you guys continue to get into implementation and like what our partnership structure looks like, you guys will actually be meeting with Peter on a, however often you want to weekly bi weekly, monthly cadence. And part of that and our expectation Alex of like our entire team is that they’re proactively bringing success metrics of the partnership to you guys on those meetings. But also a readout of your consumption on every single one. So you, we have a live dashboard once you guys are up and running, that is updated in real time. So you have access to all the details of the dollar amount consumed and the volumes at all times. But then again, separately, whatever cadence you guys decide on that works best for you guys. And Peter, like he will come to those meetings with a summary and report out as well of what we’re seeing in the trend. So you’ll have not a great first three weeks of the partnership, but you will have like self serve full visibility and we will proactively be checking in on it and how you’re pacing even like 50 percent of the way through the first term year, you’re 60 percent consumed? Like what do we need to look at here to make sure we’re pacing against what we expected and vice versa?
Alex Wang (16:15) Okay. That’s really helpful. Thank you. I think that, yeah, I think that definitely will resolve the, I just don’t get a surprise about in December here’s. A 50,000 dollar bill there.
Gabrielle Norton (16:27) You go. Yeah, absolutely. We don’t like to have those.
Kimwaters (16:29) Conversations that won’t go over well.
Gabrielle Norton (16:31) Yeah, exactly. Yeah.
Kimwaters (16:32) I know we had one other issue to tackle on the monitoring components, which it is just, I think two, we were able to like remove one of them, I think.
Genevieve Seney (16:45) Which is good. Yeah. So perfect segue, I think like understood there, essentially, there’s no change in the cost here. We’re just going to upgrade you because you need those checks. And so that will be the same cost as what you paid for your original package. We’re just going to change that. So you’ll see the comprehensive package in your usage tab, but it’s being consumed at the same cost that you’ve already contracted for.
Kimwaters (17:10) Awesome. Thank you guys for doing that. Yeah.
Alex Wang (17:12) Thank you. Absolutely.
Kimwaters (17:15) Yeah. And I did confirm, those are like part of the actual delegation agreements. So not ones that we could just say, hey, we’re good with. Yeah. And.
Gabrielle Norton (17:28) then, sorry, Jen, I was just going to say those will be on a monthly reporting basis like you’ll get a report from engagement manager, but those will also be in your actual credentialing files.
Kimwaters (17:38) Yeah. Okay. Great. Cool. Yeah, I think there’s and there’s some things that Peter, I know you’re on these calls but there’s some things that obviously we’re a little nuanced around that our credentialing team does that maybe isn’t overly… traditional in the way that maybe the platform is leveraged. I know like josh levitan and I talked a little bit about this during the sales process. So there’s some things that like we might want to track or there’s like custom workflows that we might want to be able to build. That just work with me on how best we can do that or if there’s things that our team does, but we’re able to track it in medallion like you’re not having to do it. There were some things that came up this week around attestations and portals and provider terminations and things like that. We just want to be able to make sure all things credentialing are tracked in one place so that there’s not these like one off spreadsheets somewhere too. So if there’s some of those things that you hear on those calls that we need to have like an offline conversation about, just let me know.
Alex Wang (18:51) Okay. Yeah.
Peter Bosworth (18:52) Absolutely. I think I’ll work with Naomi on that, okay?
Kimwaters (18:57) That’d be great. Thank you.
Gabrielle Norton (18:58) I was going to ask if I think I was like, I think it’s Naomi on the account. She is, really great about catching all of that too. Kim. So just to reiterate both on like the credentialing workflow side, and then also the payer mapping side, she has a ton of experience. So we’ll keep an eye out, but she’s really good about making sure that she’s setting you guys up for success there.
Kimwaters (19:19) Yeah, I think the payer mapping stuff is going to be really exciting. We’ve it’s just not it’s not ever been fully documented the way that it’s getting documented right now.
Kimwaters (19:29) So I think that, that’s been a good process for us internally and excited to see how that’s going to work on your side. Awesome. Yeah. Well.
Alex Wang (19:40) One question I was going to ask, I know you’re probably you guys are probably like further away from the day to day. But from what you all hear from Naomi is, are we on track still for June first go live? I have not been in the weekly implementation calls?
Gabrielle Norton (20:00) Peter, you might have more, but I was going to say from what I heard from her this morning, yes, but Peter, I’ll let you speak to more details.
Peter Bosworth (20:07) I was going to say the same thing, yeah, that she’s just confirming that we’re like chugging ahead and feel confident about June one. Okay? Is there anything that you, any concerns you have?
Alex Wang (20:22) No, I just saw the email back and forth with some data questions. Obviously, I’m pretty far removed from that.
Alex Wang (20:27) So just want to make sure you all aren’t waiting for anything from us or we’re not kind of holding you all back from implementing or hitting the June first cause I know that is a thanks y’all for being responsive to our request to that is pulling the timeline up by a couple of weeks here.
Kimwaters (20:44) And Alex, we’re not necessarily keeping everybody copied on all the back and forth cause there’s a ton of just like we’d flood everybody’s email, but trying to make sure that some of those… you guys are copied on. The ones that really matter. Yeah, yeah.
Alex Wang (21:00) I bet I’m missing like 90 percent of the contacts there. So that’s why I was kind of like at a high level.
Kimwaters (21:06) Oh, yeah. No, no, especially the like the last two days, there’s been a ton of a ton of back and forth. They’ve been incredibly responsive though. So really appreciate that. But yeah, please. I mean, and, you will, but if there’s anything that, I think one thing, one thing that would be helpful to know is we don’t I don’t always know like the dependencies, right? So, whenever, like sometimes that’ll get called out like with the provider invite. She was saying like, okay, if you’re going to customize it, it’s going to take two weeks to build. Like if Peter, if you hear things in those calls and I’ll you know, always ask, but just making sure we understand like if there’s something that there’s a dependency that June one timeline, is something we’re really monitoring closely on our end. So don’t want to be the reason for a holdup okay? Yeah.
Peter Bosworth (21:56) Absolutely will do. Yeah.
Alex Wang (21:59) Cool. Well, this is a side note. Deborah, Genevieve, I saw you both worked at HRS before?
Gabrielle Norton (22:07) Yeah, yeah.
Alex Wang (22:09) Small word. I worked for their private equity sponsor back in. So I saw that. Yeah, yeah.
Gabrielle Norton (22:18) I think, were we both there in 21? I think we were Jen.
Genevieve Seney (22:21) Yeah, I think so. So. Yeah, I guess maybe familiar with Jared and I don’t know if you’ve connected with him, Rahul, maybe I.
Alex Wang (22:30) worked a lot with back then. I don’t know if you all overlapped with Royce. Yes. Yeah, Joe. Yeah, sidlak, oh,
Gabrielle Norton (22:41) yeah, yeah. Yeah, Joe was our boss at the time. Yeah.
Alex Wang (22:44) Okay. Yeah, I worked a lot with Joe Royce and then Catherine bright.
Genevieve Seney (22:48) Yeah, yeah.
Gabrielle Norton (22:50) That’s funny. Yeah, small word for.
Alex Wang (22:52) Sure. Small word. Yeah.
Kimwaters (22:54) Cool. Awesome.
Alex Wang (22:56) Yeah, awesome. Thank you all for doing this and then pushing the timeline. And then I think having the white space was just really helpful for us to kind of think about this, what we’re committing to. Yeah.
Peter Bosworth (23:09) I’ll reach out with some times for us to connect and schedule a recurring call.
Kimwaters (23:14) Cool. Awesome. Thanks, Peter. Thank.
Gabrielle Norton (23:17) You. Thanks, you guys, and then we kind of go from there on what path you guys want to take for the rosters?
Kimwaters (23:24) Perfect. Thank you.
Gabrielle Norton (23:25) Thanks. You guys. Take care. Have a good one. Thank.
Peter Bosworth (23:27) You. Bye.