Transcript
Ryan Lange (00:00) hey, Philip, good morning. Oh, I think you’re muted?
Philip (00:05) You’re right? I was muted.
Ryan Lange (00:07) Ah, how’s it going?
Philip (00:09) It’s going. Good, man. How are you?
Ryan Lange (00:11) I’m doing well. Happy Monday.
Philip (00:13) Happy Monday.
Ryan Lange (00:15) Where are you calling from?
Philip (00:18) Washington DC?
Ryan Lange (00:20) Nice. All right. I’m in New York. Okay? Cool.
Philip (00:24) Cool. Sweet.
Ryan Lange (00:25) How did you have a good weekend?
Philip (00:28) It was a regular weekend.
Ryan Lange (00:29) Yeah, nothing crazy. Awesome. Well, yeah. Listen, thanks for, you know, putting in this request, happy to chat with you. Typically, the goal for these calls is kind of to just understand, you know, what’s important to you, what’s important to the business and then give you just like enough info on medallion so that we can determine whether it makes sense to evaluate us as a credentialing and licensing partner. These are super brief. So, like 10, 15 minutes of just chatting, just, yeah, understanding. Yeah.
Philip (01:02) I don’t have a lot. I actually don’t have a lot to say. Okay, I can, I’m just going to break it down for you very quickly. So, I’m with… a group and we’re establishing a locum tenens company for only anesthesia.
Ryan Lange (01:20) Okay.
Philip (01:22) And we’re trying to launch, well, we were going to try to launch may first, but that’s not going to happen, but we’re trying to launch sometime in may. And so, if you’re familiar with this business model, it’s you know, you see clients contracts like… group anesthesia groups, hospital systems that have a need, yeah, for a temporary provider, it could be, it could be permanent. It could be temporary, whatever.
Ryan Lange (01:56) They.
Philip (01:56) need providers. And the locum tenens company is basically the middleman staffing company. Okay? And the recruiter, right? Right? So, there are two kinds of credentialing there’s. The external, what I call the external, which is licensing and Dea and all that, you know, making sure that they did go to a residency, making sure that they, you know, that they are who they say they are, right? Exactly. Yeah. And then there’s like this internal credentialing piece that every hospital system or surgery center has that I’m… hoping to influence meaning, it always takes like some ungodly amount of time. And if we can reduce that time, right? Then we can get our providers to the job and working quickly. And I think that that’s that would be a value add for my company, right?
Ryan Lange (02:54) Totally. Yeah. And,
Philip (02:56) so, that’s what I’m looking for. I’m looking for, I don’t want to credential anybody. I’ve done it for myself and it’s a pain in the ass, right? Exactly. I’m a physician. So I’m an anesthesiologist, yeah. So I’ve done it for myself. It’s a pain in the ass… depending upon, you know, the surgery center or hospital that you’re working with, right? I’ll send them all, you know, all my stuff’s up to date. I’m going to send it to you and my referrals, and in one place, drug tested, right? And it’s there. Yeah, just do your thing. And it never works like that. I.
Ryan Lange (03:33) Know, no, we, that’s what we hear a lot is like the turnaround times, the manual work that goes into it plus the delays. It all just bottlenecks everything that’s why medallion was created right? To just.
Philip (03:45) Automate.
Ryan Lange (03:46) Everything. Yeah, just to break everything down for you. So that definitely makes sense. You know, we see a lot of orgs when they’re in their growth phase, so that the credentialing and enrollment process can definitely be a pain just to give you a high level overview. So, we’re a centralized end to end platform for all things provider network managing. So that’s the onboarding, your credentialing pay your enrollment. We’re obviously a more modern scalable solution. So, for that reason, so the company itself is it, it’s a newer company that is starting?
Philip (04:27) We’re a startup, we’re.
Ryan Lange (04:29) a startup? Okay. Yeah, I was trying to look at the website, but I saw it was more of just like a, it said coming soon. So I just wanted to.
Philip (04:35) Yeah, yeah.
Ryan Lange (04:37) I just wanted to make sure I was on the right site and saw, yeah.
Philip (04:39) Yeah. We’re a startup all.
Ryan Lange (04:41) Right. I was curious how many providers do you currently have at the moment? Me? Just you? Yeah. And then in the coming year, you obviously plan on scaling, do you have an idea of how many providers?
Philip (04:59) We’re working on a pro forma right now and some estimates… right? Yeah. Actually, if I’m going to be totally honest with you, yeah, I don’t know.
Ryan Lange (05:21) That’s fair that’s fair. My.
Philip (05:22) Hope is that we have a gazillion, right?
Ryan Lange (05:27) Yeah, totally. I know.
Philip (05:32) You know, every, you know, I’ve also kind of everyone asks this question. Yeah, right. Every service that I’ve like for my practice insurance, everyone asks the same question and… I… my honest answer is I don’t know, but… I have five people now.
Ryan Lange (05:56) Yeah, right.
Philip (06:00) But for sure, just me. Yeah. So, once, we, you know, if that’s some information that you need to know now, I honestly don’t have that for you, but I’d still like to know like how, what would be a minimum and how would, how could you scale, right? So, and also one, there’s another piece that one… of my business partners suggested and I, you know, I’ve never, I’m just now starting to consider is, will you, or do you provide… a white label service so that it’s branded to me? It’s branded to our company, right? And you guys provide the service through our brand? Do you do that?
Ryan Lange (06:54) So, yeah, we to answer the first part of the question with how many providers why we ask that? So typically, we do work with… we say a minimum of like 20 providers and growing just because that’s where that automation really does reduce that cost and risk that, you know, orgs are dealing with. So, and the pricing is kind of based on that as well. So, there’s about it, it’s a minimum annual of 50 K and why, you know, yeah, why that is typically is because, you know, it kind of just eliminates that need for hiring a credentialing team. So it’s kind of like that one time, you know, price payment and we will handle the rest for you.
Ryan Lange (07:51) Now, I, know, you mentioned right now, it’s just, you do plan on growing. I don’t know if it’s maybe a little too premature to like move towards that demo, you know, next step. But it does sound like once that growth does come, there’s definitely a need here because it does sound like, you know, you are a provider, you understand, you know, the hectic and craziness of, you know, dealing with credentialing and licensing and those long turnaround times. I just think for the moment it may be a bit premature to get into the weeds, you know, with, yeah.
Philip (08:35) Yeah, yeah, I understand that. Yeah. I’m just like, really, I kind of did this because it was my like there wasn’t anybody to talk to.
Ryan Lange (08:45) Right? I get that. Yeah.
Philip (08:47) So, I just wanted to know about your service, and if you guys could be a good option for us either… as we grow or when we get to a size that you can take us on, right?
Ryan Lange (09:05) Yeah, absolutely. I definitely see a fit here. I can also go back to my team. So to be fully transparent with you, I’m fairly new to medallion so I could always talk to, you know, my team lead and just see, if down the line, you know, we wanted to set something up. I just know, you know, going, knowing that it’s just you right now, it probably wouldn’t be as beneficial for you to take on, the demo and all of that and those next steps, but curious on your thoughts there.
Philip (09:43) It might not be, but I’m still interested… right? So, yeah.
Ryan Lange (09:51) The.
Philip (09:52) the, so where we’re going with this is, I don’t ever want to practice anesthesia, again, right? So, so I say me, but I don’t want it to be me. So what we’re doing is we’re establishing… we’re going to enter the marketplace pretty strong like.
Ryan Lange (10:10) on.
Philip (10:12) right now, the plan is the mid atlantic region. So, from New York to Florida, and… we’re going to, I want it to start early. I want it to do it like this establishes this entity and get everything done by may first that’s not going to happen. But we’re going to enter the market strong. We’re.
Ryan Lange (10:33) the only.
Philip (10:34) at this point, the only significant with significant like backing anesthesia, only locum tenants company. We’re we’re trying to service that niche, right? Yeah, because that’s what I’m familiar with. But so we’re planning on entering and making, you know… making waves like establishing a presence. So, I do anticipate within the next year or so having way more than 20 or 50 or whatever you said the.
Ryan Lange (11:12) The minimum was, yeah, that’s good info. Okay. So, how about, so I’m meeting with my manager later today, I can bring her all this info. I have your email. What I could do is just shoot you an email this afternoon and just let you know, I could send you more additional like a one sheeter on medallion some case studies if that’s helpful. And then we could just chat through some next steps there, see if she thinks we should, you know, try to schedule maybe a second meeting just to chat again. But yeah, it does seem like there’s definitely a need. I think it’s just that provider count that’s holding it back right now, but I’ll chat and.
Philip (11:54) I’ll try to. So my business partner, yeah, she’s international. Okay? She, well, she lives here in Maryland, but got it. She’s a jet setter.
Ryan Lange (12:12) Always on the go.
Philip (12:14) So, if I could get her on the, we could all on this call this, you know, that we can set up for later. Yeah, that’d be good. Okay. Yeah.
Ryan Lange (12:27) Let me get back to you this afternoon. Again. I’ll send you some additional info just to have on hand. Okay? And then if you think of any questions in the meantime, feel free to shoot me an email. But, yeah, any other questions, while we still have each other?
Philip (12:43) No, I mean, as long as you understand the model, like I talked to some people and they’re just like they don’t understand it. Like, yeah, basically, I’m a middleman that’s it and I need credentialing, right? That’s basically the deal, right?
Ryan Lange (12:58) Yeah. And what we do for those next step meetings is set you up with the product specialists who know that platform in and out. Yeah. Okay. They will get way more into the weeds than I can. Okay, they’ll answer all those questions. But, but yeah, let me just chat with my team lead, see her thoughts on moving forward. And then like I said, just keep an eye out for an email from me. Okay? All right. Okay.
Philip (13:24) All right. Thanks, Ryan, man. Thanks for your time. I appreciate.
Ryan Lange (13:27) It, I appreciate it too. Have a great rest of your day. All.
Philip (13:30) Right, man. You too.
Ryan Lange (13:30) All right. See ya.