Ramakanth Swayampakula: Okay, great. In terms of the – sorry, I lost my train of thought. In terms of the Joerns Healthcare, you said you got a small bit of revenue in the third quarter. Do you think by this time you got all the kinks out of the system in terms of not only the paperwork, but also the general flow through of the procedures necessary for deployment?
Dan Goldberger: Yes. So the back office is working as smoothly as it will, and that was really the time consuming piece of this. Currently, we are actively recruiting champions in different facilities along the West Coast. Those champions will start off with a three-month or six-month prescription on select patients. As they start to have success with those patients, they start telling their colleagues, they open the doors for us to talk to other departments, and of course they start prescribing for larger numbers of their patients. It’s a very similar cadence to what we do in the VA hospital system, where there’s a lot of effort that goes into opening up a new facility. And then once we are – once we have a champion or two, we can drive broader adoption within that facility.
One way that I like to think about it in 2020 was our first full years of sales in the VA hospital system. I think we did [indiscernible] in revenue in the VA hospital system in 2020. And so I think that’s a reasonable goal for the Joerns Healthcare opportunity in 2024.
Ramakanth Swayampakula: Okay, thanks. One last question from me. Just as you spoke about MER and MER of 2.09 delivering on the Truvaga, is there a similar metric for the VA hospital system? Because you’ve been in this streamline for, just, as you said, about four plus years now, or almost four years now. And what is, I understand COVID came and screwed us all up. What is the thing that can ignite that growth because, as you said, you are only 1% penetration into the market.
Dan Goldberger: Yes. So the marketing advertising spend in either the VA hospital system or the Joerns relationship is very small. The variable expense is overwhelmingly commissions. And what drives adoption is heat on the Street. It’s not very elegant, but you’ve seen that model over and over again in MedTech.
Ramakanth Swayampakula: Yes. Okay. Okay. So do you think that the money that you raised, will that go into that feed on the Street mode to help that, or is this more for making, ensuring operations as they are right now?
Dan Goldberger: Yes. So you’ll see a steady increase in our sales and marketing expense, either because we’re spending money to drive advertising for Truvaga or because our commissions are going up tied to hospital sales revenue.
Ramakanth Swayampakula: Okay, perfect. It was a great quarter, and I’m sure things are going to get look better from here.
Dan Goldberger: Thank you. Thank you. We think it was a great quarter as well.
Operator: And our next question comes from the line of Nick Sherwood with Maxim Group, LLC. Please proceed with your question.
Nick Sherwood: Congrats on the quarter. First question, how do the Truvaga and TAC-STIM gross margins compare to the prescription business?
Dan Goldberger: So we haven’t been giving out that granular data. Our pricing in the prescription business is significantly higher. So you can connect the dots from there.
Nick Sherwood: Okay. And then kind of switching gears, can you provide any color on the distribution agreement with Reliefband?
Dan Goldberger: Yes. So we’ve chosen rather to press pause on that relationship. Our business is growing so quickly in the VA hospital system. We just – our sales guys just don’t have the bandwidth to really get fully trained up on that new product line. So I look forward to returning our attention to that in 2024. But we got to take care of our own house first.
