George Hill: No, that’s helpful. And if you guys maybe give me another second or two. I guess I feel like in the RCM market, I know that it’s right, the evolution of TruBridge has been a long time in coming. You guys have kind of flown under the radar in this market and by not going after the larger health systems, you’ve competed in a more fragmented segment of the market. I guess to the degree to which you can, I’d love you to just kind of — like I asked about visibility, but maybe can you talk a little bit, anything you could say about competitive environment? I recognize a lot of this market is either going to be hospitals that either in-source now or there’s a lot of regional mom and pops who participate in this space and maybe kind of pricing environment.
I guess are you seeing terms that we would traditionally attribute to some of the larger RCM vendors and outsourcers in the space? I guess kind of more on kind of visibility and differentiation and then I’ll hop back in the queue.
Christopher Fowler: All right. I’ll try to break that apart a little bit. You almost started answering your own question there. I think you’re absolutely right in the fact that still today in our market, the competition for RCM is primarily the hospital itself. We referenced that stat. You can go to just about any rag and find this anywhere from 85% to 90% of all hospitals are still doing the billing and RCM management themselves. So, that’s really the main competition. And to your point, if it’s not the hospital themselves, it is predominantly a regional player. We’re not seeing a lot of RFPs at that level. And so a lot of it becomes our ability to go — in the past, it has been much more from an outbound process of us going and drumming up opportunities.
What we’ve seen that gives us increased optimism going forward is the increase in inbound requests that we’re receiving for information on these services as well, which I think kind of leads to your second part of the question that relates to the pricing pressure on this. The labor market, the challenges in the labor market are really the driver here. And so where pricing was probably the number one concern, let’s say, 24 months ago, right now, the driver is let’s continue to make sure that the cash is coming into the facility. And so the pricing pressure that we may have seen a couple of years ago is not as prevalent today. However, we are optimistic as we continue to be successful with our conversion offshore that we’ll be able to capture more opportunities because we will be more competitive at scale with the offshore operation.
George Hill: Okay. And then I’m going to sneak in one last one, which is how would you think about deployment of capital as the business accelerates and deployment of — accelerating cash as the business accelerates. You’ve got some debt on the balance sheet, but you’re also talking about M&A. Would love to hear you talk about capital deployment priorities.
Matt Chambless: Yes. So, George, I love the way that each question is prefaced by this is my last question. But when it comes to capital allocation, we really haven’t changed our thought process on that so much. At the end of the day, the decision on capital allocation is going to be determined by what the alternative set looks like, right? So, repaying debt in an inflationary economy does become, obviously, a bit more attractive to us. But at the same time, we still think that there are lots of opportunities to continue to grow inorganically. And we think there are still some investment opportunities to make inside of the company. So, I know that’s a bit of a non-answer answer, but going forward, it’s really hard to stay with specificity, not knowing what the alternatives are going to be out there.
