Surgery Partners, Inc. (NASDAQ:SGRY) Q4 2022 Earnings Call Transcript

As they learn that, I think this is really €“ this is a flywheel. It’s starting slow. We’re going to see a nice growth off a small number, much like we did with Orthopedics. I remain very optimistic just because the value in cost savings is so large for the health system, and the opportunity for cardiologists to control and be more independent is so large. I do believe it happens. It will be different paces. About half the states, a little less than half, still have restrictions on this that are more restrictive than Medicare. Almost all of those states, there is active legislation going on, active work going on to change that. So all of these things kind of have to fall in line. And you and I both share this optimism; I definitely think it’s a big opportunity.

Some states will go faster than others. Once this starts to get a foothold and people realize the amount of value it creates for the health system, it will be a natural push. So I think it’s going to be much like joints, you’re going to see it kind of slowly tick up. It will be a nice growth percentage, but it will hit critical mass. The question of when that is within the next five years, always difficult to predict. But I will tell you this, we will be prepared, and we are already having those conversations to build the foundation and starting on the cardiac rhythm management side.

Brian Tanquilut: Awesome. Thanks and congrats again guys.

Eric Evans: Thank you. Appreciate it Brian.

Operator: Thank you. This does conclude the question session. I’d now like to turn the call over to Eric Evans for closing remarks. Thank you, sir.

Eric Evans: Thank you. I appreciate everybody’s time this morning. And before we all walk away, I would like to just take a moment to recognize all the efforts and commitment to excellence of our 12,000 colleagues and nearly 5,000 physicians. Collectively, we take to heart the responsibility for providing the best environment for physicians to perform exceptional procedures of the highest clinical quality, and the privilege to serve over 600,000 patients in what is often their most vulnerable moments. I’m so proud to work alongside these talented professionals as we work to more fully deliver on our mission to enhance patient quality of life through partnership. Thank you again for joining the call this morning, and I hope you all have a great day.

Operator: Thank you, sir. This concludes today’s teleconference. You may disconnect your lines at this time and thank you very much for your participation.