News You Can Use

Transcript for Beyond the Stethoscope Vital Conversations with SHP Episode 6 – Direct Contracting Marketplace | Troy Reichert

In this episode, Jason shares about a recent study showing that Telehealth is here to stay. And Aaron talks about the growing attitude in Washington about mandating cyber security in healthcare.

Then Jason sits down with Troy Reichert, the Chief Revenue Officer of Coral, where he oversees all business development strategies working with advisors, medical providers, and industry leaders to expand the adoption and utilization of self-funded medical plans and direct provider relationships.  He is an “evangelist” for free market healthcare, fair & transparent pricing and choice for employers, employees, and individuals.  His TPA established one of the most successful direct contract programs putting doctors.

 

News Links

Jason’s News Telehealth is here to stay

Aaron’s News Washington’s Growing Need to Increase Healthcare Cybersecurity

 

Troy & Coral can be found on

Website: https://www.thecoralplatform.com/

LinkedIn: https://www.linkedin.com/company/coral/ 

 

Credits

Production Assistance & Editing: Nyla Wiebe

Scripting by: Aaron C Higgins

Show Notes & Transcription: Aaron C Higgins

Social Media Management: Jeremy Miller & Nyla Wiebe

News Co-Hosts: Aaron C Higgins & Jason Crosby

Interview hosts: Jason Crosby

Executive Producers: Mike Scribner & John Crew

 

TRANSCRIPT

Jason Crosby
Hey, everyone. I’m Jason Crosby of Strategic Healthcare Partners and your host for Beyond the Stethoscope: Vital Conversations with SHP, today we are joined by Troy Reichert, Chief Revenue Officer, and Vice President with Coral, a tech-enabled marketplace and we’re thorough platform that connects providers to those seeking their services. Troy thanks for joining us today and welcome to the podcast.

Troy Reichert
Thanks for having me, Jason.

Jason Crosby
Right. And for our audience, some background on how we’re familiar with Coral and somewhat of a disclaimer perhaps we came across Coral while working with a clinical clinically integrated network client and the Indiana market who we were assisting with rolling out a bundling strategy. And during that time, we in the practice is found the platform very user friendly and just another mechanism that allowed the provider to interact and engage with the market. And so that’s how we came and crossed paths probably a few years ago, I’d say now, but what that let’s jump right into the conversation. Troy as we get started, tell us more, some background about Coral and the problem that you guys are trying to solve.

Troy Reichert
Yes, absolutely. So Coral actually started about six years ago and it was the result of a conversation between very well-known surgeon and a TPA. They were literally 2 miles apart. They were doing tons of business in terms of direct contracting together. But the challenge they had was literally the communication. So, they were phone, fax and e-mail like so many doctors, offices and surgery centers are doing, and they were having trouble. Larry, how do we handle the volume?
And out of that birth Coral where, you know, the founder of art company Greg Smith said, I can solve that problem with technology and so literally Coral is the communication platform between what we call payers and providers to help remove the transactional friction and make it easy for everybody to do business together.

Jason Crosby
Very good. Makes sense. Makes sense. So, who as you met on the provider side? Who would you say is the ideal target? Who? Who’s that? A user typically of the platform.

Troy Reichert
Certainly, we started with surgery centers, independent surgery centers are the core of you know the provider base today. Six years later, Coral has, if you think about sort of the boundary conditions of primary care on the left and emergency care on the right, everything in between those two points is what sits on Coral now. So, we have labs and radiology at the beginning of a point, an episode of care.
All the way through all the specialists and ending with physical therapy and everything in between, including behavioral health. So, all of that is on Coral. And the key for all of these providers is that number one, they understand their costs #2 they want to offer a guaranteed price for a specific service. So, they don’t, they have any mindset of a charge master. They are basically what we consider a cost plus they understand their cost.
They have to add some margin to be profitable and that then becomes the price that they charge to our clients.

Jason Crosby
What are you typically see given that breakdown there, what are you seeing mostly in that client base of yours in terms of that knowledge to get up and go on, whether it’s knowledge of the charge master versus cost plus, what’s some generic benchmark around that from what you’re seeing?

Troy Reichert
Well, certainly these uh doctors and the surgeons and surgery centers, they have to know their business. These are very smart people, not only from a medical standpoint but from a business standpoint. You can’t give someone a price without knowing what your cost is.
And so, these doctors, these surgery centers, they know what their cost of doing business is when they do a, you know, gallbladder surgery, they know it’s X dollars to do that to actually open their doors, pay for all the personnel, pay for the all the pieces they need and have a margin on there. When they do a total knee replacement, they know the same thing. So, number one, these doctors, these surgeons, these surgery centers, understand their costs. Becker’s Hospital Review says that.
Nine out of 10 hospital CEO and CFO’s don’t know their cost of doing business. That’s why literally they have to hide behind the charge master because there’s so much fluff in there that they that’s how they do it. My surgeon, my surgery centers, my hospitals, they understand their costs and they can give me a price above that which makes them profitable. But at the same time saving the plan, money, saving the employee money and paying the doctors more.
How that works, we called the triple play, but it does.

Jason Crosby
Fantastic. Well, there’s obviously a knowledge gain there with the platform on behalf of the provider and ultimately the patient you mentioned earlier about the relationships and how that was a big reason, how poorly even get started. And obviously building relationships and in today’s healthcare industries can be an issue.
So, what have you seen so far and how the platform and just the process behind Coral has allowed relationships and communication to improve between providers? You mentioned the spectrum there between primary care and specialist or whether it’s between provider and employer, provider, payer, etcetera. Speak to that for a moment.

Troy Reichert
Absolutely, Jason. And I think that’s literally one of the biggest issues that we face in healthcare today is that word that you just use relationships, we have a middleman in the health care business that is literally controlling both sides of the relationship. And my goal with direct contracts is to literally move out that third party, get out the middleman out of the way so that the payers.
And the providers can contract business together, can conduct business together. When you have a direct relationship with somebody, you have a different relationship. You have literally a different set of circumstances, agreements, understandings, assumptions that you are now doing business together.
When you put in a third party, when you put in a middleman in the middle of all that, it’s the middleman that filters everything. It’s the middleman that controls both sides, and that’s not good for health care. We need to put the doctors back in charge of medicine. We need to put the payers back in charge of, you know, that relationship, what they’re gonna pay and knowing what they’re going to pay. So it just elevates that relationship to a whole new status where it should be so that people can talk to each other.
The doctors, the payers and the providers and the patients all around the same wavelength, they’re on the same understanding. They have the same incentives. That’s another part, the perverse incentives that are in the healthcare today. We’re taking out those perverse incentives in a direct relationship.

Jason Crosby
Let’s keep going on that path. So, we talked about direct contracting and what we were familiar with you guys was long and some bundling models, you know that were being rolled out.
Let’s step back for a second and kind of talk to what those things are specifically, what’s up? What’s it look like in today’s world? You know, if you want to talk about what’s a, what does a bundled surgical procedure look like and maybe educate our audience a little bit for those that aren’t familiar with that.

Troy Reichert
Yes, absolutely. Every day we’re working with bundles. Everyone of us with, whether we go to a fast food restaurant in order, you know, the happy meal, the, the Big Mac deal or we get our bundled services from our cable provider that include cable, Internet and phone, it’s a bundle, a bundle creates efficiencies and in the same way with healthcare, when we put together a bundle in healthcare, it creates efficiency. So, a bundle in the surgical sense is the surgeon.
The facility and the anesthesiologist at the minimum. It requires that those three pieces are the same. Well, any of us that have ever gone to have a medical procedure done the surgery, we know what happened. We haven’t done. We don’t know the price. And you know, three weeks, 5 weeks, six weeks later, we start getting all these EOBs all these explanation of benefits and every one of them says it was very expensive and guess what? We owe money to every one of them.
In my world with a bundle, the patient gets one EOB. And unless it’s an HSA plan at the bottom, it says you owe 0. Because the Members are given the incentive of the zero out of pocket. And so, because the bundle, because of the cost savings, because of the efficiencies were able to actually give them the better care, the direct relationship at a lower price, the plans that our primary customers are self-funded medical plans. But the plans are saving money, they’re sharing a portion of that savings with the member in terms of 0 out of pocket. So that’s why we say you know the plan wins because it’s paying out less money why the patient wins because there’s zero out of pocket.
And again, because of the financial construct of the bundle, the doctors and surgeons are actually making more money than they would, you know, the fee for service models.

Jason Crosby
Fantastic. OK, now let’s drill in a little bit here. You guys have a pretty expansive client base. Let’s talk about that for a moment. And then as far as the types of clients you have specialties, ASCs, et cetera, you know maybe geographically what the typical ideal client, let’s get a little bit granular there because I want to also hear about some success stories, right, where is Coral really because as you mentioned it’s a platform that helps tie in relationships and expands on knowledge based off cost containment type initiative. Speak to let’s give it a little granular there and speak to your client basically success stories.

Troy Reichert
Yeah. So, we have providers in 49 states. We don’t have any providers in Hawaii, but we’ve got providers in every state. And again, there are all the specialists that you that I described before. And so, these specialists are looking for access and service respects to a different type of patient. My patients are three types of patients. They’re self-funded medical plans and they’re indemnity, medical plans. And the third one, they’re cost or the sharing ministries.
The shearing organizations, those are the three customers that are the payers on the system. So inside of Coral is the payers and the providers that come together and again in all over the country we have providers. We have over 10 million lives that are on the system to have access to Coral done by 85 TPA’s all the major Med management companies, nurse navigator companies use Coral. So, we’re trying to give the patients.
And access to a new tile type, a new breed, if you will, of provider who has said I’ve got your best interest in mind and I’m gonna give you a fair and transparent price. That’s the model.

Jason Crosby
Well, there, that’s a pretty expansive client base, obviously, to tap into. What are you seeing are as a practice comes to Coral for help. What is oftentimes the reason they’re specifying why you’re there and then subsequently, what’s that implementation look like once they acknowledge that, OK, this platform can help us with the reasons we’ve probably have already discussed. What’s that look like on their end and a typical, you know, practice or ASC setting?

Troy Reichert
Yes. And certainly, you know the ASC’s and the doctors and surgeons, they’re coming to Coral for a variety of reasons and motives. But we’re finding one of the most important ones is again that relationship. As you watch the hospital systems buying up and owning the doctors, you see PE money coming into the industry as you see what control the BLUACHs, Blue Cross, United, Aetna, Cigna, Humana, are having over the doctors they are looking for options. They’re looking for a change that they can be in control of, and literally direct contracts is that option for them. And so, as an alternative, they want to be in relationship with independent TPAs with corporations.
Uh, with that, you know, 50 million plumbing group so that they know that they’re going to see their patients. And so, the providers are looking for again that different type of relationship where they have a lot more control. Secondly, it’s very easy for these providers to come online to Coral, the Coral platform. If an individual can work inside of e-mail, they can learn you work inside of Coral. That’s how simple it is. Again, we have tried to make this system so easy, so.
User-friendly that anybody in their office can use it, typically in the office, in the doctor’s office and the practice and the surgery center, it’s the scheduling person that uses Coral and it’s the billing person that uses Coral and we understand there’s a lot of change over at the receptionist desk at the scheduling desk. So again, Coral has to be easy in terms of the ability desk, I’ll share a great story. One of our highest volume surgery center.
Uh, before Coral they were doing about 300 direct contract procedures a month. Today they’re doing over 800 a month before quarrel. They had three people working full time managing all their direct contracts or managing those episodes of care. Today, that same surgery center again over double over 800 procedures every month. They’ve got one person working 3 hours a week.
That’s the efficiency the Coral brings to a provider. And so if a provider wants to get into the direct relationship, direct contract business, they can literally manage that inside of Coral. It’s very easy and they’re in control of everything. They’re in control of their bundle. They’re in control of their components. They’re in control of their price.
That’s something that you know again when you get a network contract laid in front of you as a provider, there’s two things in there that’s in their contract is not in mind. It’s called time and it’s called money. My contract has no time limit. So if they are friend fed up, don’t see the value, don’t want to do it, they can get off tomorrow if they have a for orthopedic surgeon, if they have a striker increase for a knee implant, they can change that bundle in the in the system today and that’s the new price tomorrow.
So, they have ultimate control over their bundles and in in essence over who they wanted to do business with.

Jason Crosby
Fantastic. Well you, you certainly provide some really good, applicable informative insight into the practice there for the folks that are listening. If they want to find out more, how can they find out something formation about you or Coral?

Troy Reichert
Yeah. So, Sir, we have a website, Coral.IO. So, we love to talk to people. We love to show it. We can do it demo in about 15 minutes of the platform. And literally we show you the communication process between the payers and the providers, how that works, how that looks. We have about 400 navigators either inside of the TPA inside the indemnity plan or in the Med management companies that work to learn steer and feed patients into the surgery centers that’s into these specialists.
So, but again, we showed that in a demo and that relationship between the two and how it works.

Jason Crosby
Really appreciate your time and joining us today.

Troy Reichert
Absolutely. Thanks for having me, Jason.

Jason Crosby
Right. And thank you. We look forward to our next podcast and until then have a great rest of your day.

Announcing Our Next Episode: “What Exactly Is a Direct Contracting Marketplace?”

Announcing Our Next Episode: “What Exactly Is a Direct Contracting Marketplace?”

With bundling services an increasing option for providers and employers, both will be interested in how to enter such an arrangement. Particularly with Direct to Employer (DTE) agreements increasing in popularity. We’ll also hear how a platform such as Coral can play a role as an online middle man to connect employers and providers with transparent pricing.

Guest: Troy Reichert, Chief Revenue Officer, Coral

Troy Reichert is the Chief Revenue Officer of Coral.  In this role he oversees all business development strategies working with advisors, medical providers and industry leaders to expand the adoption and utilization of self-funded medical plans and direct provider relationships.  He is an “evangelist” for free market healthcare, fair & transparent pricing and choice for employers, employees and individuals.  His TPA established one of the most successful direct contract programs putting doctors

He holds degrees from two of the nation’s most prestigious universities. His Bachelor of Arts degree was earned at Wheaton College in Chicago, followed by completion of the MBA program at Vanderbilt University’s Owen School of Management. Additionally, Troy was awarded an Honorary Doctorate from the Trinity Theological Seminary of South Florida. He is also a multiple year recipient of the GAMA Leadership Award.

For more than 30 years, Troy has been an effective leader and public speaker. He has traveled around the country working with clients, developing creative solutions and talking to groups about change management.  He is also a published author with his first book Benefits Re-Imagined published in 2019.

Troy’s passion for motivation, leadership and education runs deep, extending well beyond work and career. He is a volunteer with Junior Achievement teaching students about work readiness, entrepreneurship and financial literacy and has been an active coach in little league and high school sports.

Troy and his wife have been married for over 35 years and have a daughter, three sons and two grandchildren.  He is an avid outdoorsman, photographer and writer.

It’s Live! “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role”

It’s Live! “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role”

Listen today! “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role” drops!

If you do not have much knowledge on Wound and Ostomy care, that will certainly change after listening to Joe. We gain data oriented insight into this often neglected service of care, and discuss how virtual care and telehealth are viable solutions for any provider setting to utilize. From there, we hear more about how Corstrata is working on solving this care gap.

Beyond the Stethoscope: Vital Conversations with SHP can be found on all podcast apps including Spotify, Apple Podcasts, & Amazon. 

Beyond the Stethoscope: Vital Conversations with SHP

Transcript for Beyond the Stethoscope vital Conversations with SHP Episode 5 – Wound & Ostomy Care Gaps | Joe Ebberwein

Wound & Ostomy Care Gaps | Joe Ebberwein

In this episode, Jason Crosby and Aaron Higgins provide a quick overview of the PFS Final Rule that released at the end of October.

Then Jason talks with Joe Ebberwein. Joe is the Co-founder and Chief Financial Officer of Corstrata, a technology-enabled care management solution focused on improving outcomes for wound and ostomy patients. We gain data-oriented insight into this often-neglected area of care and how Corstrata is working on solving this care gap; then, they discuss how virtual care and telehealth are viable solutions for any provider to utilize.

News Item – PFS 2023 Final Rule 15 Takeaways

Register for the Nov 15th QPP Webinar

Credits

Production Assistance & Editing: Nyla Wiebe

Scripting by: Aaron C Higgins

Show Notes & Transcription: Aaron C Higgins

Social Media Management: Jeremy Miller & Nyla Wiebe

News Co-Hosts: Aaron C Higgins & Jason Crosby

Interview hosts: Jason Crosby

Executive Producers: Mike Scribner & John Crew

Transcript

Jason Crosby

Hey, everyone. I’m Jason Crosby with Strategic Healthcare Partners and your host for Beyond the Stethoscope: Vital Conversations with SHP. Today we are joined by Joe Ebberwein, who is cofounder and CFO for Corstrata, a tech enabled solution provider for the wound and ostomy care markets. Joe, thanks for joining us today and welcome to the podcast.

Joe Ebberwein

Yeah, great to be with you today.

Jason Crosby

We look forward to it. Well, we’ve got some questions lined up for you. But first, let’s start with just some background information on yourself and kind of your journey to healthcare industry.

Joe Ebberwein

Absolutely. Yeah. So my background is actually accounting and finance, got an undergraduate in accounting and the CPA route and worked for both and this’ll age me, but both Arthur Anderson and Price Waterhouse. And started working in healthcare in early in that career at doing CPA work auditing and what’s in Atlanta for a little while, and then moved back to Savannah and actually began work with Memorial Medical Center, now part of HCA, but worked primarily on the post-acute side and the for-profit entities, which back then were the area ambulance and MedStar the ground ambulance, and then all of the other ancillary in home services such as home health, DME, et cetera.

So I’ve really spent most of my career in that space just about anything that could be done in the home from nursing traditional home health, Hospice, private duty care. And then as the years went on back in the early 2000s, the agency that I was involved with, we got into telehealth in a big way. And the use of vital signs monitoring in the home. So we were one of the early adopters, really nationally, and kind of became known as national thought leaders around implementing that, that use of technology in the home health space.

And we saw some pretty amazing results. We saw improvement in clinical outcomes and improvement in financial outcomes. So we were much more equipped to manage patients with chronic conditions like CHF, COPD etcetera in the home using this equipment again back in the early 2000s, clunky, expensive equipment that, fast forward, that was really kind of the initial groundwork for what my business partner Kathy, paid and I ended up doing at Corstrata about seven years ago. And really what we did is we took that concept of how can you apply technology to a healthcare problem. And we had experienced a big problem in managing chronic wounds for patients that were in from health. So similar to the teleradiology model.

We thought kind of came up with a thesis that we could move images similar to radio graphic images to a distributed workforce and that that workforce happened to be board certified wound and ostomy nurses. So we started doing a lot of R&D into research around how could we come up with a technology solution to that problem. So that’s really kind of how Corstrata was born seven years ago, but that’s my background.

You know, finance, accounting, but a whole lot of other hats along the way in early-stage companies.

Jason Crosby

Yeah, sounds like a natural evolution from the early 2000s. You know, you got see telehealth early on and home health. And now that’s kind of all you’re hearing about, right? So kind of makes sense now that you as you mentioned with Corstrata. So tell us, let’s dive into that. You you’ve touched on it; tell us a little bit more about the operations of Corstrata and the problems you’re trying to solve, who and who you’re trying to solve them for, right. Which who’s your typical client? What type of provider setting? Dive into that a little bit for us.

Joe Ebberwein

Sure. Yeah. You know, wounds are an interesting problem because no one really owns wound outcomes. You know, you’ve got cardiologists that are dealing with cardiovascular issues or endocrinologists dealing with kidney and diabetes function and that kind of thing. But nobody really owns wounds because they cross multiple comorbidities. You might have wounds related to vascular issues, lower extremity wounds.

Huge prevalence of diabetic foot ulcers in the diabetes population. One in four diabetics will get a diabetic foot ulcer in their lifetime and one in four of those will have an amputation. And then the five-year mortality rates are off the chart. Crazy for people that are that recover from an amputation. So those are the kind of wounds. Additionally, you have a multitude of other words related to different conditions.

Whether it be pressure injuries from immobility, or you know a lot of times you hear them referred to as bed sores and unfortunately that’s highly prevalent in skilled nursing facilities and a lot of them can be prevented with the right with the right education, with the right techniques, the right surfaces, et cetera. So it’s a $96 billion problem, 15% of all Medicare patients members have a wound and the real problem that we’re trying to solve.

And chipping away at it is that there are only 15,000 board certified when nurses in the country and that equates to about one nurse for every 600 patients. It’s not sustainable. The number of diabetics obviously we know that that’s growing. We’ve got about 37 million diabetics and another 96 million pre diabetics.

So it’s a really, you know it’s like a freight train going down the track and it’s it doesn’t have a good ending. There’s a big wall at the end of it and it’s all-around access to these specialists. So as I said, no one knows wounds across multiple specialties, multiple provider settings, whether it’s home health, skilled nursing facilities, we’re about 1/3 of the patients have a wound, L tags.

Rural hospitals, all of these different care settings have patients that present with wounds and yet we don’t have the expertise to really manage them and get evidence-based care.

One out of 10 nurses that are certified in wound and ostomy care practice in the post-acute space, so in that includes home health Hospice sniffs rural hospitals.

90% are practicing in the hospital settings and outpatient wound centers. So I mean you, you can see there’s such a disparity with where the experts are. We’re solving that problem with technology in a number of different ways. And I can go into that if you want or…yeah.

Jason Crosby

So with that the key obviously being technology adoption.

Joe Ebberwein

Right.

Jason Crosby

I on the on the provider side and some are a little bit more accustomed to that adoption. Some aren’t with that and with the gap in in qualify nurse on the, on the outpatient side as you just mentioned.

What are you seeing those as your key barriers or what other barriers are you seeing? To that to entry into those spaces.

Joe Ebberwein

There are a number of barriers, one of them that’s really interesting is some providers don’t want to take wound images of their patients wounds and you can kind of see that right because of litigation discoverable in the chart, et cetera. But what’s interesting is most of those patients say with a pressure injury or pressure ulcer, if it gets bad enough somebody is probably photographing that wound and what we tried to get across our client says do you want, you know, a qualified professional taking photographs of the wind over time to show the progression and have the medical records support that decline or hopefully improvement or do you want you know, the patient’s nephew to have the photograph in a in a court of law. So a lot of times we can get over that barrier pretty quickly the other.

The other barrier is we’re really a value add to our customers, so whether it’s home health or Hospice or skilled nursing facilities because we are nursing model, we’re not billing any Part B, we’re not billing any commercial Medicaid. We bill our clients and our clients to get a return on investment from having access to experts. So we can reduce nursing time, home health visits, we can reduce. So we can reduce their spend on advanced wound dressings and also really to be honest help them with coding and reimbursement as well because a lot of times they’re misidentifying wounds and they’re leaving dollars precious dollars on the table from a reimbursement standpoint.

Jason Crosby

Sure, that sounds like if if 15% of the Medicare population have wounds and there’s obviously a growing number there. I would just imagine there’s greater demand for that type of service. Where are you starting to see some of those trends knowing that you’ve got the aging population, you’ve got hospital closures, not only rural hospitals, but you’ve got WellStar for goodness sake?

Joe Ebberwein

In Atlanta, yeah.

At the hospital, large hospital in Ohio. And that’s only gonna continue, right? So, go down that path a little bit. Are you are you gonna, do you envision continued demand for such a service or is that just going to become a barrier for you as well?

Joe Ebberwein

Umm, I think it’s gonna become quite an opportunity for further penetration in multiple markets. And I’ll tell you just a couple of examples. We are we’re working with some large hospital systems and on the West Coast and these are these are big hospital systems in urban settings and because of lack of staffing, they’re closing their ostomy clinics so.

Literally, we’re getting that business to our virtual consultations. We are able to do a 30 minute live video with the patient in their home, troubleshoot the appliance, save a ER visit and assist these hospital systems that are desperate for staffing of these nurses on indeed.com. I went on there today, there are 4001 Open wound nurse positions across the US.

Well, if they’re only 15,000 certified period, you can see there’s such a disparity with COVID kind of the great resignation of a large number of nurses who are considering leaving the profession. It’s a big and growing problem. So hospital systems, as you mentioned in rural facilities. Really just about anybody that in the post-acute space. Also that is dealing with the wound, a wound patient.

Jason Crosby

So what? What do you what do you say to those? Then there’s obviously the appetite that the man for the service that you guys are providing.

But many reasons, as we you just laid out there still slow adoption to that whether you’re still nursing facility, rural hospital provided a large health system. You know practice setting across the board, there’s not provider that can’t utilize the service. What do you tell those that are just hesitant to look in that direction and starting investigating you know a service like yours, what do you say to them to get them across the line?

Joe Ebberwein

Great question. And I do think that COVID and the adoption of telehealth broke down a lot of those barriers for us because a lot of facilities had to move to virtual care, they had to, you know, put the systems in place, not only from a technology standpoint, but also all the infrastructure. And so that has actually helped us in that in telling that story, but.

You know, for instance, when we talked to, say, rural hospitals that now are either not able to admit a wound patient or they’re having to transport them to a higher acuity system because of lack of expertise, it becomes really an amazing impetus to start considering using virtual care.

Jason Crosby

So, in the markets, almost telling them itself, “hey, this is why you need to look into it.” They don’t necessarily need the sales pitch. I mean, just listen to the market.

Joe Ebberwein

Right.

Jason Crosby

And let the market tell you need to look into. No, that that makes sense. What? Continue going down that path. Let’s pivot somewhat into that, you know, to me that virtual health, Telehealth is kind of the A disruptor that we need. So continue looking at that and let’s also look into your crystal ball, right. What are some innovations that you’re seeing in these service areas that you’re you know, what are you seeing coming down the horizon there?

Joe Ebberwein

Yes. So interestingly, we have and this is one example, but we have a diabetic foot ulcer prevention program. So obviously diabetic foot ulcers don’t just occur in the Medicare population. These are people that are working, they’re 40s, fifties, some even younger that have severe diabetes, they develop neuropathy and they end up with a diabetic foot ulcer and it’s just an incredible kind of cycle. It can spiral down well.

We have working with companies that have electronic sensors for measuring temperature and pressure in the soles of shoes. A lot of technology is moving toward prevention, and most diabetic foot ulcers are preventable. If you have the right early detection. So that’s one example. There are sensors built into orthotics for measuring compliance; and you know what ends up happening is that data, that sensor data that tells that someone’s getting into trouble, that comes to an entity like Corstrata, and then we’re able to intervene. We had a really interesting this is just an anecdotal story, but we had an interesting encounter with a gentleman who was using one of these monitoring systems.

And every weekend he would alert. And so we knew something was going on the weekend where he was getting elevated temperatures, which is a precursor to ulceration. And so, one of our nurses said, OK, let’s dig into this, let’s do a video call. I want you to show me every shoe you have. I want you to tell me what you’re doing on the weekend. We’ll turns out he had a part time job and a Funeral Home, and he had to wear a certain kind of black shoe. And it was not the proper shoe to relieve that pressure. So, we got him in the right shoe. The alert stopped coming in. But that’s the that’s the illustration of you got all this great sensor data, but what do you do with it? And then that human intervention, that biofeedback and coming up with a plan to to really prevent that ulceration.

Jason Crosby

Wow, that’s a great, applicable story that anybody listening can certainly resonate with right? I mean that’s great. Appreciate you saying that. So what’s now in the strategic road map for Corstrata? What are you guys working on today and over these next couple of years?

Joe Ebberwein

Yeah. So it’s been interesting over this last year where we had predominantly really been working mostly in the post-acute space like Home health, Hospice, skilled nursing facilities. What we’re starting to see are some of the emerging models for really acute care services in the home hospital at home, if you will.

And we’re working with a number of those who organizations that really help facilitate a hospital building a hospital at home program.

What where that becomes really interesting is, and this was really accentuated during the pandemic, you’ve got these acute patients; Who really, when there weren’t enough beds in the hospital, could be managed in the home with the right equipment. And when I say hospital at home, I’m talking there is hospital grade equipment, hospital bed, vital signs monitoring, all going back to kind of a Star Trek central station constantly monitored, daily nursing visits, nurse practitioner visits, etcetera. So you know, imagine that they’re really setting up a command center in the home that is, you know, transmitting data so hospital at home is an emerging market and a lot of those patients have wounds and ostomies. And so they’re engaging with us to do virtual consults for the people that maybe do not have experience with wounds, other innovative type things that we’re seeing are mobile physician groups that are doing primary care. Obviously the proliferation of ACOs and the whole value-based care bundles. You know we are in discussions with some payers that also have mobile clinical teams. So yeah, it’s really kind of been an interesting year and it’s a shift in who’s approaching us for those kinds of consults. Ostomy is a big deal as well, even though it’s not a big number like the wound population, it’s a really high 30-day readmission rate into the hospital. And so ostomies kind of go hand in hand with wounds because of the certification of their nurses.

Jason Crosby

Interesting that you know here you just talked about what, 20 years ago the focus was all in the skilled nursing facility if that and now you can span across any provider setting a CEO’s practice setting, it doesn’t matter come a long ways and there’s just the last 20 years. So another exciting few years ahead, I’m sure.

Joe Ebberwein

We’re seeing such incredible stories, both with individuals living with ostomies that literally were driving to an ostomy clinic 4 hours away. That can now do this in the privacy of their home to people with long term chronic wounds that just never had the right evidence based treatment plan. And we’re getting those wounds closed, obviously saving a lot of money for the providers. But the human impact Is amazing as well.

Jason Crosby

Well finally, Joe if our audience supposed to learn more, how do they go about doing so?

Joe Ebberwein

Sure. So lots of ways to contact us. Obviously our our website Corstrata.com, we’re on LinkedIn and Twitter and Facebook and just about any social media. So very easy to get us.

Jason Crosby

With some great information and even better conversation there lots of lots of data to support. You know what you guys are doing is a great thing. It’s a service that’s needed out there in the marketplace. So really appreciate that. And I’m sure the listeners will, will find it. This is useful as I did. You definitely opened my eyes to a lot of things there. I appreciate that and the we really appreciate your time and joining us today.

And I wanna thank our listeners for your time. We look forward to our next podcast and until then everybody have a great rest of your day.

Joe Ebberwein

Thanks for having me.

In 2 Days “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role” Launches!

In 2 Days “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role” Launches!

In 2 days our next episode “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role” drops!

If you do not have much knowledge on Wound and Ostomy care, that will certainly change after listening to Joe. We gain data oriented insight into this often neglected service of care, and discuss how virtual care and telehealth are viable solutions for any provider setting to utilize. From there, we hear more about how Corstrata is working on solving this care gap.

Beyond the Stethoscope: Vital Conversations with SHP can be found on all podcast apps including Spotify, Apple Podcasts, & Amazon. 

Beyond the Stethoscope: Vital Conversations with SHP

Next Podcast Episode “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role”

Next Podcast Episode “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role”

Our next episode “Insight Into Wound and Ostomy Care, the Evolution Taking Place, and How Technology Such as Corstrata Is Playing a Role” drops next Wednesday, 11/9!

If you do not have much knowledge on Wound and Ostomy care, that will certainly change after listening to Joe. We gain data oriented insight into this often neglected service of care, and discuss how virtual care and telehealth are viable solutions for any provider setting to utilize. From there, we hear more about how Corstrata is working on solving this care gap.

Beyond the Stethoscope: Vital Conversations with SHP can be found on all podcast apps including Spotify, Apple Podcasts, & Amazon. 

Beyond the Stethoscope: Vital Conversations with SHP