Justin Schreiber: I have no idea. I mean, I don’t think there’s any way that I can approximate that. I can give you a data point that might be helpful. We’ve — today, 30-plus percent of patients that come to our website, but ultimately don’t pay cash for a visit with one of our providers, tell us in surveys that their reason for not following through with LifeMD for the reason for not purchasing from us was because they wanted to use their insurance. So what percentage of those other individuals are going to opt to pay cash versus using their insurance. I don’t know — I really don’t know the number if I had to guess. I would say year out, it could be 50% of the business would be people using their insurance card and paying a co-pay and 50% would be people paying cash that are on a high health plan or uninsured.
David Larsen: Okay. And then just any sort of comments on these larger entities that you’ve been talking about? Would these be health plans or maybe a large retail chain, Walgreens, CVS, any color there would be helpful.
Justin Schreiber: Yes. We’re in — I would characterize them as late-stage conversations with multiple multibillion-dollar national organizations regarding various types of partnerships that rely on our virtual primary care platform. I believe these things have taken a lot longer than we expected them to take. But I can report that the pipeline currently is stronger than it’s ever been. We have more interest than we’ve ever had the company, especially with the financing that we completed this week is now — has a very strong balance sheet and it’s really well positioned, right, I think, to execute on some of these things. And it’s tough to say what — how successful they’re going to be because especially when you’re working with these larger companies, a lot of these things are pilots initially.
I think we’ll be able to talk about the pilot programs. They’ll be very visible when we launch them. But if they’re successful, they would be transformational for our company. And it’s not one, there’s quite a number of them. Some of them are with national retailers, some of them are with some of the largest health care product and pharma companies in the world. I’ve been — this is something that, as you know, I’ve been talking to our shareholders about in these calls for a while. So tough to tell whether they’re going to — we’re going to be able to announce some of these things in the coming weeks or it’s going to take another couple of months, but we build our platform to be a partner to these companies and to these organizations. And what I can report is that we’re seeing more interest and more traction in the biz dev pipeline than ever.
And I remain confident that over the long run that we’re going to get some of these things done and hopefully, eventually, a lot of them done.
David Larsen: Okay. And then just one quick follow-up there. So you could become the virtual primary care vendor or entity sort of white labeled for a large retailer? is that the idea or something along those lines?
Justin Schreiber: Yes. I think, look, I think a lot of large I think a lot of large retailers could look at virtual primary care as another product that they could monetize through their retail locations, that’s a very kind of simple way to look at it. And a lot of pharma and health care product companies, most of them they’re being forced to spend more and more money on digital solutions as part of their commercialization effort. It’s a $10 billion a year number. It’s growing — and there aren’t a lot of — there aren’t a lot of — there’s still — although there are a lot of telehealth companies, there aren’t a lot of telehealth companies with the technology platform and the medical group and all of the expertise on the adherence and engagement side that LifeMD has.
