And so we will always be held accountable for reducing acquisition costs, deleveraging our scale and size to do that and also performing and delivering services at the lowest price possible. At the same time, payers also need a viable pharmacy marketplace across the community that can provide what I would say is consistent care across all the communities that we serve. So it’s critical to meet both of those. And look, it’s February 7, so we’re still early in this journey, but we’re excited about the progress we’ve made since Analyst Day, and we’re going to continue these payer negotiations and payer discussions over the course of the coming weeks and months and we’ll provide an update as we go forward. And all the things that you’re describing are things that we’re contemplating and discussing with payers in a very transparent way to eliminate some of the challenges that this industry has had over the course of the last few decades.
Operator: The next question comes from [John Ransom] (ph) from Raymond James. John, your line is open. Please go ahead.
John Ransom: Hey, good morning. I got a new name, John Branson. That’s right. The question I have is just RSV. It’s a good guy to your retail franchise. It’s a bad guy at HCB. How do we think about the net benefit or net drag to the enterprise for fourth quarter? And what’s embedded in your ’24 outlook just for RSV? Thanks.
Tom Cowhey: Hey John, I don’t know that we’re going to give a specific on that as you think about RSV. I would say net because of the relative market share differences between our pharmacy business and the Aetna business. That tends to be a net tailwind for the enterprise. We did see pressure inside fourth quarter in the — in particular, in our Medicare business, but also a little bit in the commercial business inside Aetna as you think about those vaccinations. Correspondingly, we saw more of a benefit in the Pharmacy & Consumer Wellness segment. As we think about 2024, given the newness of some of these vaccines, what we’ve tried to do is take a little bit more cautious outlook as we thought about what the pull-through might be for that outperformance in the fourth quarter. And that’s why the beat doesn’t match the raise as you think about ‘24. We’d like to see a little bit more history here before we lean in on that projection.
Karen Lynch: And John, strategically, I wouldn’t just think about one type of RSV vaccine. I want you to think about kind of an immunization franchise that the retail business has really developed and which is really creating strong value for that business.
Operator: The final question today is from Erin Wright from Morgan Stanley. Please go ahead. Your line is open.
Erin Wright: Great thanks. On Cordavis, I’m just curious how meaningful is the contribution to segment profit? Or how meaningful is that embedded in your guidance? And how is that just generally playing out relative to your expectations? And then just a quick one on just PBM and transparency. Just your latest thoughts on regulatory changes potentially across the PBM, what you can — what we could potentially see this year in terms of what gets passed and ability to manage around that? Thanks.
Tom Cowhey: Thanks, Erin. Maybe I’ll start with Cordavis. I’d say we’ve been very pleased with the progress to-date. And we do have a projection for a positive contribution from that business inside the Health Services segment. And we’ll continue to give more details on that as we get through the year. But we haven’t disclosed that specific contribution at this point. And maybe I’ll turn it over to Karen to talk a little bit more about PBM transparency.
Karen Lynch: Yes, relative to what’s going on in Washington, obviously, this is — continued discussions are going on there. I do think that they’re talking about transparency. If anything does get passed, I think it will be around transparency. But I would tell you that given some of the actions that we have taken with both TrueCost and CostVantage, that is resonating with the legislators and is helpful in driving overall cost transparency. And I can’t predict what’s going on in D.C., but I know that we’re taking action to improve overall outcome.
Operator: This concludes today’s Q&A session…
Karen Lynch: Yes. Thank you for all joining the call today, and I want to thank our colleagues for their continued commitment to deliver on our performance. Thank you.
Operator: This concludes today’s call. Thank you very much for your attendance. You may now disconnect your lines.
