Unlocking Healthcare Professional Data, Making it Easily Shareable with Jared S. Taylor, Co-Founder & CEO of BlocHealth was automatically transcribed by Sonix with the latest audio-to-text algorithms. This transcript may contain errors. Sonix is the best audio automated transcription service in 2020. Our automated transcription algorithms works with many of the popular audio file formats.
Saul Marquez:
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Saul Marquez:
Welcome back to the Outcomes Rocket. Saul Marquez is here. Thanks again for tuning in today. I have the privilege of hosting Jared S. Taylor. He is the co-founder and CEO of BlocHealth. He’s got four plus years in health care staffing, credentialing and entrepreneurship experience. FMR business development executive at Medicus Health Care Solutions previously. And he was also previously the Head of Customer Success at Go Go Hire. He was a founder of the Slice of Health Care podcast Play More Tennis and Startup Convos blog. He’s also an author and the book is called It’s Your Future Plan for It. He’s an outstanding individual, doing some great things in health care and such a privilege to have Jared Taylor here with us. Jared, thanks for joining us.
Jared S Taylor:
Thanks for having me, Saul.
Saul Marquez:
It’s a pleasure. So before we dive into BlocHealth and the work that you guys do there, it’s always fascinating to hear what stories got our guest into health care. So what inspired your work in health care?
Jared S Taylor:
So when I first graduated college, I went into investment banking. So I always thought I wanted to get into and turns out once I got into it on a full time basis, I realized that it wasn’t for me, it was not something I like. I like talking with people, understanding the problem, coming up with the solution wherever possible. So I ended up leaving that job pretty quickly and moved into a health care consulting recruiting company, which you referred to as Medicus Health Care Solutions. There I focused on business development, building relationships with health systems, and it was there I really gained a serious interest in health care and some of the inefficiencies that are present within the industry, which there’s a lot right.. And it was there I became obsessed with kind of the onboarding process of health care professionals and really wanted to improve upon it, which I did after I left.
Saul Marquez:
Very cppl. Very cool. So start off in investment banking, you’re like, I want to do something more interesting, something that is more in line with helping people. And you’re still solving problems because there’s a big opportunity to onboard folks better, whether it be physicians, whether it be executives at health care systems or payer systems. Tell us a little bit about how you guys are doing it and the value you’re bringing to the ecosystem.
Jared S Taylor:
Absolutely. So we are building a cloud based ecosystem of services and solutions to alleviate the nonmedical recurring requirements of health care professionals and organizations so that they’re able to focus on higher value treatment like patient experience, outcome and revenue generation. So the current process really archaic. It requires multiple duplicated efforts. And it’s not a great experience for the health care professional, whether it be an advanced practitioner, physician or other health care professional. And what we’ve done is we really focused in on the initial credentialing transaction where data is collected from the professional. And then we look at all the endpoints. What other services can that data be used for? And what we built is a smart, universal common application that’s able to take on all these inputs from a professional or organization and then map those inputs out to the various services that leverages that information like credentialing, which is really the process of verifying health care professionals, work history, education, history, skill set affiliations and state license, registration and renewals, DEA registration and renewals provider enrollment, getting them set up with the insurance payers for billing. And that’s been our really core focus right now. And then you heard me say early on in Eco-System, we’re adding in those other parts of the process that leverage that data to make a much better experience and make life easier for the professional and the organization.
Saul Marquez:
I heard that it takes months, like four or five months to get all the stuff done. Is that true?
Jared S Taylor:
Yeah, it’s it’s a really long time. That’s if you have kind of everything in order to do it. And we’ve definitely seen it go beyond six, seven months in some health systems and other organizations. It can be a crazy process. And as it relates to provider enrollment with the payers, depending on the time of the year or two, that can add a lot of extra time onto the process as well.
Saul Marquez:
I mean, it just it just seems like that shouldn’t be I mean, six, seven, eight months. I guess it goes back to the antiquated way of doing things. So walk us through what makes you guys different and better than what’s available.
Jared S Taylor:
So really trying to make the process as simple as possible, providing a way for the professional and the administrator to use their information for more tests. So what you’ll see a lot is you’re able to leverage information in some of these other systems out there for credentialing or enrollment or just like licensing individually, but no one’s been able to really come in and say, we’re going to help you use your data for all the tasks that require data. So that was a big focus for us. No one’s building an ecosystem where you’re able to do everything that you need to in regards to the whole onboarding process from within one platform and really taking a health care professional focus saying how are we going to make life easier for the professional? And our belief is to make life easier for the professional, you also make life easier for all the other stakeholders that need to be involved in the process.
Saul Marquez:
Totally. So what does the timeline look like for you guys?
Jared S Taylor:
So it really depends on the service that’s being offered. So we’re both the credentialing verification organization that can go in and do the verifications and the data repository to store the information. It depends what service they want to use us for. So and really the time of the year. So we try to save initially several weeks on the process out of the gate. And then we’ve been moving towards saving several months depending on the tasks being offered.
Saul Marquez:
That’s a big difference. So and you’re able to do it just because everything’s integrated on the platform for them to use the data they have. And it just makes it a lot faster.
Jared S Taylor:
Yeah. So we built and we have our unique internal process when someone’s using us for the service based out of the business where we’re using our software. And since we built our software, we’re able to even use our software faster than if anyone else use it. So when people want to contract directly with us, they also see on that front, there’s also just the speed of for instance, we work with a lot of companies. Telehealth company often needs to get their providers enrolled with the payers, get them multiple state licenses, handle all their renewals and just do the basic primary source verification to determine are they a bad actor or are they a really good provider. So for organizations that need all those services, we’re really a great platform for them because they’re able to experience the value out of having the data of one professional be used for all those different tasks without being asked for multiple times.
Saul Marquez:
Very cool. How has what you guys have been doing made business better or improved outcomes?
Jared S Taylor:
Really, it’s improved outcomes by placing less. You need to fill out this need to fill out that on both the professional and the organization. So being able to use their data for more, which especially when you’re having to use it for multiple tasks, provide significant time savings and cost savings because you’re not you save a couple of days in this process. It’s a substantial increase to the bottom line for the organization that we’re dealing with. So and it’s also about building the early building blocks of the ecosystem, which becomes even more valuable as we build up the data of the health care professionals, which they have, the good sense they provide consent to what we can use that data for. But what we’re putting in motion, we’re still in the earlier stages. We started with credentialing and enrollment and we’re moving it to other parts of the health care ecosystem as we continue to get better at what we started with early on in the process.
Saul Marquez:
Great. And so, as you consider some of the building and growing pains, what would you say has been one of those biggest setbacks and what’s been a key learning from it?
Jared S Taylor:
Yeah, I would say in our early days, we originally started as a health care marketplace for nurse anesthetists and anesthesiologists that was leveraging my previous experience, being in that space and creating a more efficient staffing structure. That’s what I wanted to do. We actually ended up having a lot of success out of the gate and ran into some issues because of that success with having to get out of state providers, state licenses and then get them credentialed quickly. So this is before there was any POPHAM on our end. So we had to do it manually and we ended up having just a super inefficient process, not because it’s all on us, because the state license process and the certain state we were working in and the process with the health system we were contracting with was not smooth. All of the providers that we placed and we placed in like a week when no one else could place one in a couple of months at the time. And they ended up all backing up because the process took so long. And it was at that point we started building up the scar tissue to say, oh, jeez, this is a really true statement and we need to build the credentialing tech company as a result of this. And it doesn’t matter how quickly you play someone if you can’t get them licensing credentials in a timely manner. Totally. So that’s what we kind of built the initial process on. Our negative experience with state licensing and credentialing. And then we started having all these customer interviews. So we use that, I guess you could say set back you to learn from it and then learn more from it by contacting other people that have had similar set back.
Saul Marquez:
Yeah, so you’re placing all these people and you just have this like this bottleneck, which is state licensure and verification and everything that needs to happen, and you’re like, well, what good is this? If these people are backing out, there’s an opportunity here for us to do this better. Exactly. Cool, man. I mean, that’s just like you find the challenge and you’re like, well, this is why our business is not getting the traction it needs. So now you’re like, let me address it, because I bet I’m not the only one dealing with this. Exactly. So very cool, man. And I love how you guys pivoted to make it what it is today. What are you most excited about today?
Jared S Taylor:
I’m excited about the financial progress that we’ve made on the credentialing front and the initial internal progress that we’ve been seeing for the products that we haven’t released yet. I’m very excited to continue building this ecosystem. So being able to have the ecosystem where the professional organization can do all things in that onboarding process in one place is super exciting for me because I realize how much pain there is in the process. And we’re really focused on quality, helping these organizations generate revenue earlier than they have in the past and then provider experience. It’s something often overlooked. So we’re excited about the steps that we’re taking to create a better provider experience and create an earlier revenue recognition process for the organizations that we work with.
Saul Marquez:
Love it. Yeah, that’s awesome, man. And so now there’s an opportunity for everyone listening to consider another option. If you have found yourself in Jared’s shoes where you’re frustrated with this process, check them out. It’s BlocHealth.com and you could find out more about them there. But I want to just lock in with you here for a second, Jared, and ask you that you give us a closing thought and then the best place to the listeners, aside from your website, could reach out to you and find out ways to collaborate.
Jared S Taylor:
Absolutely. Just the closing thought. If you’re interested in learning more about us, as you just said, the website is blocHealth.com. If you want to get to know more about me and connect directly, I’m on LinkedIn. Jared Jareb s Taylor and I connect with most people on there that are interested in collaborating or interested in learning more happy to talk. And yeah, I’m just really fired up about what we’re doing in health and what we will continue to do. And I think we’re in an industry. Well, I guess you could even call it a subindustry within health care that’s so ripe for innovation and we have the right team to do it. I’m very excited about what the second half of twenty twenty brings and how things will work as we go forward.
Saul Marquez:
I love it, brother. Well, certainly great work with all the innovations you guys are bringing to the space and certainly rooting for you guys here on the side. Thanks for jumping on the. Tell us more about it.
Jared S Taylor:
Thanks so much for having me.
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