Transcript
David Ezeobinwa (00:24) thank you.
David Ezeobinwa (00:53) Thank… thank you.
David Ezeobinwa (04:08) Hey, Helder, how are you doing? Can you hear me?
Helder Molina (04:14) Yeah, I can hear you perfect.
David Ezeobinwa (04:16) Okay, perfect. How’s your day going?
Helder Molina (04:21) It’s going, buddy. It’s too early to tell you how it’s going, but it is going.
David Ezeobinwa (04:26) I feel you. I feel you. Where are you calling from?
Helder Molina (04:31) I live in, Houston, Texas. Okay?
David Ezeobinwa (04:34) Nice. Yeah, I’m in Austin. I go to Houston a couple times a year. Yeah.
Helder Molina (04:39) Oh, nice. Yeah.
David Ezeobinwa (04:41) Nice. That’s nice. Yeah, no, I appreciate you making out some time. I know we’re supposed to meet a while back, but I know we had to push it. So, yeah, no, I appreciate the time. I’m actually in Chicago right now. I’m working out of a hotel. So, if you hear any noise in the background, but yeah, no worries. I will just introduce myself as well. My name is David I’m on the partnerships team here at medallion. So essentially just working to speak to like kind of prospective customers such as yourself.
David Ezeobinwa (05:09) We’re looking to learn a little bit more about medallion and see, you know, ultimately if we’re a good fit, if we make sense for your company and this is something, you know, you kind of want to move forward with then I can help you get scheduled with some additional calls and, you know, pricing and so on and so forth. But, yeah, we’d love to hear more about yourself and kind of dive in from there all.
Helder Molina (05:30) Right. So, David, so we are a dermatology office. We’re currently the biggest private dermatologist in the United States. Our main market is Texas. And so when we were looking for medallion, it was kind of like an option that was recommended by another of your users. So I was kind of in shock a little bit when you guys shared that, you know, well, you know, you don’t have enough providers. So I was like man that really shocked me right? Being the biggest dermatology private on medallion dermatology in the state in the United States. So I was a little bit shocked on that. So I would like to understand that structure based on that comment because I guess it go back, go base it in each provider. So we currently have three locations… out of those three locations. We have one of some of those, we call it remote locations, which is a provider go maybe once a week, but most of them they’re full time facilities. So if you can kind of guide me through the process, I will not lie to you. We’ve been rapidly growing in the last couple of years. And so I have seen some of the need… to stay in top of this credentialing process for all the providers. I have a company that do my credentialing at this point. I’m not sure, you know what is the scope of work that medallion can give me, right? But technically, you know, every time we do business by acquiring practices from doctors that are planning to retiring. So when we acquired those practices, most of the time they have even contracts that we don’t even have as a company. So we buy those out and kind of go and renegotiate to be, you know, have all my providers through those contracts.
Helder Molina (07:42) We’re currently, I believe that we have over 120 contracts or more with insurance programs and we have an average and I can kind of pull out that list to be more exactly, but I believe that we have over two four six 810 12, 14, 16, 18, 20 22 24. We got 24 providers at this point. Okay? But we just did two acquisitions in the last 15 days?
David Ezeobinwa (08:20) Okay. Gotcha. You know, I appreciate the context. And okay, just for, I guess for my understanding, when you’re saying provider, are we talking about the actual, you know, doctor or, you know, whatever that’s billing to the insurance payers or are you talking about something else? Because I think there might be some confusion there.
Helder Molina (08:41) No, we have two, we have right now, currently, we have two doctors on the board which they currently see patients and the providers, they have a license as a pa or MPS, they see patients for us.
David Ezeobinwa (08:57) Okay. So total like all these all the pas, MPS doctors, all those type of people that, you know, that bill for insurance, how many would you say is that total amount? Is that the third 20?
Helder Molina (09:08) Four at this point 20?
David Ezeobinwa (09:09) Four, okay. 20. Okay. 24, we’re talking about. Okay. So, yeah, that, that’s kind of where medallion comes in at scale. So like when we say there’s not enough providers, it can be, it can more so be when it comes to like that the value realization. So typically, as we see as organizations scale, they can’t keep up with that credentialing licensing and enrollment. And they usually like typically offset it instead of, hey, let me hire someone to do it. You’re probably going to spend, you know, anywhere from 50 to 70,000 dollars to get someone to do it physically. They’re like, hey, here’s, medallion, we’ll use your software and your services and you guys do the work. We’re just running strategy. We tell you what to do. You guys do it. So that’s kind of where medallion comes in and that’s kind of like typically like our pricing model and charging by volume of providers and doing that work for you that’s kind of where, you know, the offset of like, hey, do we hire someone? Do we want to do this ourselves? Hey, let’s give it to medallion. They’ll do it for us. They’ll make it easy. They’re committing to a certain timeline to get it done. And that’s where that cost kind of comes in. So it’s kind of like in the sense of like, hey, do we want to pay this amount for medallion versus doing ourselves that’s where the volume of providers might not add up essentially at a higher level if that makes.
Helder Molina (10:25) sense. So what is the cost of medallion, the cost?
David Ezeobinwa (10:28) Essentially like we have a floor. So there’s a floor of 50,000 that’s typically something we can’t go under. And from there, it can range upwards from there, depending on the number of providers services needed. So we’re doing credentialing, licensing, peer enrollment, caqh management, ongoing monitoring, privileging, you know, all these type of services. So depending on what you need and the volume of providers that will determine the exact price, we typically scope out the work, but it wouldn’t be less than 50,000. So that’s kind of where you know, you have to decide.
Helder Molina (11:02) And I think this is doable. I mean, you’re talking about an average of 2000 per year per provider.
Helder Molina (11:07) So I think it’s worth it from the point of view of the company. So did you have kind of like a demo or something like that? If we can see how that work and what will be the benefits of that? Yeah.
David Ezeobinwa (11:19) Yeah, no demo. It wouldn’t be on this call. So demo is typical. We have a solutions consultant. They run you through the platform. They show you the demo. They show you all the information related to that, and that’s typically, you know, with one of our account executives, they are kind of like dive deeper past this call, ask you a couple more scoping questions, ask more questions to dive in. So that can happen in a later call. This call is more so like a needs assessment. So that’s where I wanted to understand like, hey, what is that provider account actually look like? What is the work you guys are doing today? So I had a couple more questions related to that in the sense of you mentioned that someone is doing the credentialing today. Is that a separate company? Or is that a person at the company it’s.
Helder Molina (11:58) a third party company that’s correct, it’s a third party company. Okay?
David Ezeobinwa (12:02) Is that something you want to keep with them? Do you want them still doing the credentialing or would you like to bring that to medallion?
Helder Molina (12:09) I believe that after I see that, you know, the demo, right?
Helder Molina (12:13) I will look at it but, you know, me personally, I don’t like, I mean, that is kind of like I’m giving you just 50 percent of the responsibilities, but I want to give you 100 percent. So we have tried in the past to have two different companies for different tasks and, you know, they’re pointing at each other. So I just need somebody to do the whole nine yards of the credentialing process. Yes. Yeah. And.
David Ezeobinwa (12:39) That’s something medallion can’t do. That’s why I was curious like if you want to keep working with two different companies and, you know, kind of splitting the responsibility, okay?
Helder Molina (12:46) I will not be, it will not be, my preferred option.
David Ezeobinwa (12:50) Okay. That makes sense. And then in terms of timelines, like how does that process look today? Is this something like, hey, you’re telling that company like this is what we need and then they’re just like, hey, you know, how does that process look? Is they’ll just get it done for you or is there like visibility into it? Is there, you.
Helder Molina (13:07) know, no, we are month to month contract. Okay?
David Ezeobinwa (13:11) We have.
Helder Molina (13:11) Talked about, you know, the way how we’ve been growing and they have been with us already for many years. And I believe that we’re growing too fast for the process. So it’s not any timeline? Like I have already said it all because there’s still a scouting and options. So as soon as I get that more solid option of what we have right now which I don’t gonna lie to you, I’m gonna compare apple with apples. And when I mean comparing apples to apples, I gotta see what is the benefits of each of the companies and what is the labor that I have to do in my side if we have to do some labor in my side, which currently we don’t have any labor. So that is why I gotta see what is medallion’s options, right? And how that can be efficiently and cost effective, improve… my process as soon as I have that and incorporate it. I think we’ll make the decision. I will, I like to be fair in every single business decision. So we’ll be in the timeline we’ll be, you know, at least steady to 60 days notice. I just wanna make sure like, you know, maybe you guys will cross over the 30 days just to, if you guys need data, I don’t have the data. So you gotta gonna have to go through them.
Helder Molina (14:30) So, but it will be some kind of like working together maybe for 30 days and then 30 days after it will be over. Okay.
David Ezeobinwa (14:38) That makes sense. And I was also curious like what’s kind of the main like business impact? Like, I know you’re since you’re already kind of using someone like what’s kind of like pushing you to look at, you know, medallion now, like is there an issue with what they’re doing or?
Helder Molina (14:54) Well, the first issue is because we’re growing too fast right? Okay. And I don’t think that this is more the credentialing company as a fact, but it’s more the insurance process. So I need to be somebody to be on top of my process. Okay? For giving an example. It happened in one of our locations. So we add one more location. And of course, I got dr alpes to the side which is our main medical director. He is credentialing every single facility because he go and visit every facility, see patients and audit my providers. And so both of the doctors, when we add a location, sometimes it’s like, oh, you’re out of network in that specific location? What do you mean? I’m out of network? I mean, this facility has been with us over nine years. Oh, well, we add one more, but we, you know, automatically remove the other one. So I think it’s somebody got to be on top of. So something that I thought about medallion, like I said, I was referred by another of our friends practice and they said, hey, look this AI technology. It can keep you up searching and looking at it at all your locations and at it. So that is why it’s my best interest just to see how that work. And I believe that I’m a high tech person. So as soon as I understand that agreement, I can see if medallion will be the right answer. Okay. No.
David Ezeobinwa (16:17) Perfect. I.
Helder Molina (16:18) Appreciate it. But my biggest issue is to keep up all our insurance with all our providers 100 percent in network.
David Ezeobinwa (16:27) Okay. So it sounds like, yeah, so it sounds like there’s potential issues with loss to revenue and claims denials. Am I, am I understanding that too?
Helder Molina (16:37) Yeah. I mean, we, I will say that for the volume that we have, you know, as a company, we produce over 10 to 12,000 claims a week a month. So it’s a pretty solid amount of claims and we don’t have, I don’t even think that we have like 10… percent the claims that come back and we have to kind of work on it again. I don’t think that we even have a 1,000 claims. So I will not say the denials, but when we verify is more towards you’re out of network. So we have to do that little homework behind just to make sure that we’re in network with all our contracts.
Helder Molina (17:16) Like for giving example, we start with blue cross blue shield with our main office, right? Yeah, not 20 years ago, and the main office was kicked out for almost three weeks because the insurance takes time. So we submit a complaint. They work on it, but we work for three weeks out of blue cross blue shield in that specific location.
David Ezeobinwa (17:39) Yeah. Which is the?
Helder Molina (17:40) Location where we start our contract with them. So I think that is where I need monitoring process. Yeah. Okay. No.
David Ezeobinwa (17:50) That makes sense. And then I guess my last question kind of like if we’re piecing it all together, like what would be the desired? Like what would be like the best case? What would they look like after with medallion? Like what are like if you could just have a list of things like what would you like to see with medallion? Like overall and like kind of if you were like wrap it in a bow, you.
Helder Molina (18:08) Know, so for sure, you know, when you’re working with a middle provider, right? The pa is an MP for sure. We have a rotation, right? So like I said, we have over 20 22, 23 providers that are not doctors, you know, it’s keeping up with that rotation. So I give you, hey, this is a new provider will come on board. You know, make sure that provider is automatically added to the location where they’re going to work, right? And make sure that the provider have all the documentation through the caqh, kind of up to date, not waiting like, hey, man. I mean, my license expire next week. So we all have to keep entering in panic mode, right? So I think, you know, more like to the hang off, that will be for me medallion, the hang off, this is my operation. This is how we work. And of course, if you guys taking 100 percentage, you know, renegotiate some kind of our agreements… but technically would be the hang off of the credentialing process 100 percent. That would be to me the essential part and.
David Ezeobinwa (19:19) Of course being.
Helder Molina (19:21) In the management part is to have kind of like a dashboard, right? Which I think I will clarify some of those questions when I see the demo. Okay? So if I turn on my medallion dashboard today, I don’t know if you guys have it or not. But if I turn it on, I want to see like, okay, what’s going on? You know, how many contracts I have, what kind of insurance I have, which plans I have from each insurance.
Helder Molina (19:43) And so, because, and everything depends by area, right? So we have a clinics right now in North Carolina, we got a clinic in Tulsa, Arizona. So each state, they have their own regulations. So if I can see where we’re standing in each of these states, right? So that’s gonna give me more peace of mind for me to be able to go and do more acquisitions. I don’t gonna lie to you. The reason that I believe that we own Texas is because I know Texas, I know my rules and I’m good with it. So every time that we have a possible acquisition in another state, it kind of go back to me on figuring it out.
Helder Molina (20:26) Okay? So what kind of, you know, law I have there? And, you know, what kind of the special license I need to have in that market? So it go back to the fear and stop us to acquire more practices. Gotcha. No, no.
David Ezeobinwa (20:41) I appreciate the summary. I think this is definitely something Medellin can work with like we, like I mentioned, we’re end to end solution for all these provider operations. So, you know, that monitoring that, credentialing that payer, enrollment piece, visibility, analytics, automation. You’d be able to see everything that’s going on. You’d be able to have timelines. You’d be able to commit to certain outcomes and improve the business. And at that point essentially allows you to grow at scale as well because you won’t need to hire anybody else to run the process. Medellin will run the process, you run the strategy. So, I think there, it’ll be pretty beneficial for the organization overall. And I was just also curious too. Is there anybody else that would like be involved in the process as well? Would they like to see, you know, kind of what Medellin is?
Helder Molina (21:26) Not for right now. Of course, we have an operations manager and of course we got the business owner, but at this point, I’m the one to bring the solutions to the table. And if I agree, then we go to the next step which will be going to the board and the board will make the decision, financial decision, operation decision. So, but Debbie, I got a technical, I don’t know if you will be able to answer, but I got a technical question for you. So medani, medallion, we do our billing through our emr. Okay. So everything is integrated. So medallion will integrate with the emr, yes, correct?
David Ezeobinwa (22:03) Yeah, we have an open API, so we will be able to like bi directionally, we can connect to your emr, and then your emr can kind of speak to medallion. So we kind of make sure that cause we connect with a ton of a ton of different software. So, you know, typically we hear billing emrs, ehrs, you know, all those things. So we like to make sure everything’s connected, one source of truth flowing through medallion. So yeah, that’s definitely something we can work with. So.
Helder Molina (22:28) Do medallion have connect before through modmed?
David Ezeobinwa (22:33) I don’t know about, yeah, I’m not 100 percent sure about modmed. But I know we work with a ton of different emrs. So I wouldn’t be surprised as long as there’s an open API we can connect, so, which?
Helder Molina (22:44) It is, yeah. So, and the reason that I asked is because, you know, if you guys become our credentialing process and the dashboard will supply because you are talking about claims and denials. So, I believe the medallion at one point will connect on that, right? Just to see where’s the issues of those credential inside. So if that happened for sure for us is a value, right? Because right now we do our billing internally. So we have a billing person, a billing manager and a couple of people that helped her. So, but if that connect, I think that should be one of the missing pieces that we have, right? Because right now I have my billing team and the billing team said like, hey, you got this denial and you got this denial because you are not credentialed. So then I go back and contact my credential company. So the credentialing companies are like, no, you are here. You are credentialed. So I have like I call it the gray area where everybody point each other, but I would love to see that process. If that happened, then the value from you guys will be for sure there.
David Ezeobinwa (23:51) Yeah. No, that’s something I typically hear as well. It’s like kind of like a black box. It’s like, okay, this is just going in. We don’t know where it’s at. We don’t know what happened. We don’t know what mistake happened. So it’s kind of like this person’s pointing at this person, this person’s pointing at that person and it’s just a mess honestly. So that’s really one thing like we kind of like really hone in on. Is that analytics, that openness and that visibility into the process and that connectivity with other platforms? So, yeah, yeah, definitely, I definitely think that would be beneficial to the organization. And yeah, no, lastly, just, I know I touched on budget earlier, but I was just curious like your board and your owner would?
Helder Molina (24:27) That price point?
David Ezeobinwa (24:29) Like I kind of mentioned earlier, would that be something they would be heavily against? Or is that kind of like in line? Like, hey, like if we don’t have to hire someone that’s great, you know, type of thing. So.
Helder Molina (24:39) For sure, if I’m able to describe if I’m able to describe and put the value on the cost? I see the value, but that is why I got to understand your application. I cannot answer that without having a kind of clear process. Yeah, a.
David Ezeobinwa (24:57) 100 percent. That makes sense. Yeah, no, I think I got everything I had on my end. Yeah. And just in terms of like next steps, I’d like to schedule you with one of our account executives, they will be able to dive a little bit more deeper with you and kind of scope out what you need.
David Ezeobinwa (25:16) And obviously the demo as well. Would you, I don’t know what your availability looks like for next week, but, yeah.
Helder Molina (25:27) I will tell you right now, what is my ability?
Helder Molina (25:33) Let’s go and jump this week?
Helder Molina (25:40) Next week. So, next week, for sure, Monday will be a good option for me especially in the afternoon, if it’s possible two Central Time, that should be the best. And then after that, I will be booked the whole week. Okay? So, more likely, if we want to set it up for next week, it have to be a Monday at two o’clock that is the best spot that I have at this point.
Helder Molina (26:19) Let me see.
David Ezeobinwa (26:20) Okay. There will be no other chance of any other times that rest of the.
Helder Molina (26:24) Week, if you tell me what will be the other options? I can see if I can squish any of my meetings.
David Ezeobinwa (26:31) But basically.
Helder Molina (26:32) Because we’re kind of already tidying up in the process, I want to make sure that, you know, I don’t have to, you know, rush any of the meeting at this point?
David Ezeobinwa (26:43) Yeah, no, 100 percent. Is it only Monday at two? Or would you be able to do like any time after that? Two P. M?
Helder Molina (26:51) I could do four. Yes, I can change the meeting, you know, the,
David Ezeobinwa (26:57) essential time. Okay. Yeah, I think we could do four, it’ll just be 30 minutes with one of our, account executives and potentially the solutions consultant. But, the solutions consultant for sure, would be part of the demo, but, yeah, but account executive would be there to help scope out a little bit more with you. So yeah, we could do 30 minutes that Monday at four, so, I can get it scheduled. Right now, I’ll shoot you over the invite. Let me.
Helder Molina (27:23) block already that time. Yeah, I’ll.
David Ezeobinwa (27:26) send you, I’ll send you an invite after this call, in a recap, but, okay, perfect. Let’s do Monday at four. Yeah. Yeah, I think that, I think that works. Yeah, if you have any questions in the meantime, definitely do reach out to me but, yeah, and I appreciate the time and, yeah, looking forward to the, to next steps. So.
Helder Molina (27:47) All right, perfect. Thank you very much, David. I appreciate it all.
David Ezeobinwa (27:51) Right. Take care. You. Have a good weekend, thank.
Helder Molina (27:53) You too. Bye bye.