Shawn Morris : Yes. The only thing I would add would be the — in those last two, we’re hitting the ground with operators on the ground, too. So we’ve got some expenses for them because we have revenue on day 1.
Operator: Our next question comes from Whit Mayo of SVB.
Whit Mayo: This deal in Connecticut is a little bit unique with CMG you actually I think putting capital into this deal to acquire the ACO by the value based care. Can you maybe spend a minute talking about this transaction, the structure a little bit, what the split of the ACO is? And really the corollary to this question is, should we read into this transaction that you may be looking to be a bit more active with the balance sheet to grow and buy into some new and existing markets. Just wanted to take your temperature on the desire to be a little bit more active here?
Parth Mehrotra : So our strategy has been consistent in any state, as we outlined, we are establishing the medical group, the risk entity and our services platform. So they can be an opportunity for us to buy that we’re kind of full steam ahead looking at these opportunities. Obviously, we’ll be very thoughtful in doing so. Smaller is better for us. I don’t want to make mistakes. And so we’ll be consistent with what we’ve been doing in the recent past.
Operator: Our next question comes from Jessica Tassan of Piper Sandler.
Jessica Tassan : So I wanted to follow up just on the MA book. Can you help us understand the structure of the full cap contract? Should we continue to think about these as about a $625 or $650 PMPM for revenue? And then just what kind of year 2 care margin ramp is implied in the ’23 guide?
Parth Mehrotra : So the structure is fairly unique by payer and by geography. This is not a homogenous contract. We don’t break down the number of lives by geography or by payer. The PMPM should be higher than the amount you stated just logically, in practice as — in GAAP revenue. But for practice collections, the PMPM should be much higher. And then again, we’re not breaking down care margin contribution, but you can see the number every quarter now, given our increased disclosure. And our hope is, from the de minimis level, it’s at today that, that increases over time.
Shawn Morris : Jessica, just as Parth mentioned it and we’ve talked about it in the past, I mean, these contracts tend to be somewhat bespoke. I mean, we don’t — we’re not — we don’t do just to flat 85% and take all the risk. We really focus on aligning with the payer. We believe the payers should have some risk. We believe we should have some risk. We believe the doctors should have some risk. We think that is the most sustainable model long term. So we sit down with them, we look at kind of where we have density, what payers are there, where — kind of what preferred type of ranges we’d like to have. And then we go at contracting in that manner. And so it’s — each one of them probably have — they’re going to be unique just because of the nature — the nature of the market, the nature of the payers and then kind of how we go about the business.
Operator: At this time, I would like to turn it back to Mr. Morris for any further comments.
Shawn Morris : Thank you for listening for our call today. Privia Health’s capital-efficient, physician enablement model continues to gain significant scale and market momentum as we can support all providers and all patients, all reimbursement models in uniquely different geographies. We look forward to continue to execute at a high level through 2023 and for years to come. And we appreciate your continued interest and support of our company, and we look forward to speaking to you very soon again. Enjoy the rest of your day, and thank you.