Ben Hendrix: Great. Appreciate that. Just a quick follow-up on the prior question. How much of an increase should we expect this year in equity method income related to that ValueHealth partnership in minority interest there? Thanks.
Wayne DeVeydt: Yes, Ben, I think at this point, I couldn’t give you an exact number. I know what our pipeline is and how many additional facilities we’re looking at now. Consistent with our past practice though we will call out each quarter what acquisitions we did, and we will highlight for you what is minority versus majority since we recognize that effects kind of how you build top-line revenue because of the non-consolidating aspects. But I would tell you the pipeline is there. It’s real. We have many under LOI already on the minority facilities, but we’re in the midst of due diligence right now.
Dave Doherty: Yes, I might, if I don’t — I hope if you don’t mind we come over the top a little bit there. Last year, about a quarter of our asset acquisitions were in minority interest owned assets. And as I mentioned earlier in the prepared remarks, we’re agnostic to whether they’re consolidating or not. We like the underlying growth story of each one of these assets. And the potential that it provides for us in the future, which may include a buy opportunity to get to a consolidated position. So the pipeline that Wayne is mentioning does include both forms of that. It is the reason why our guide for revenue might be that with a little bit of cautiousness in it because that’s the one that you will see potentially no revenue, but all equity earnings. And so it’s worth noting that there’s a possibility of that. But as Wayne mentioned, we will provide that visibility as we complete acquisitions going forward into 2023.
Ben Hendrix: Thank you.
Operator: Thank you. The next question comes from Bill Sutherland from Benchmark. Please proceed with your question, Bill.
Bill Sutherland: Thank you. Good morning guys. That case volume growth caught my eye in the fourth quarter as it compares to the market that I’ve seen. What would you rank order the factors there for your really strong case growth in the quarter?
Wayne DeVeydt: Bill, I would say the first thing that I would say is keep in mind the compounding effect that we talk about with recruiting efforts. And so as you know, while we added a large number of docs, around 150-plus just in Q4, many of those docs though, throughout the year, the 500-plus that we had throughout the entire year came in, in January, February, March and May. And ultimately, you get them more comfortable throughout the year with what your facilities can do for them. You get their block time more aligned with where they want to get out. And so you start getting that really high compound effect by Q4. And that’s all organic for us. And of course, add to that the compounding effect of the previous year cohort, and you heard how much the volume was up on that cohort from 2021, coming into 2022 north of 140-plus percent.
And so I would say, first and foremost, the recruiting engine is working at optimal level and continues to produce the results that we would expect. And we are not seeing that slowdown in 2023. The second thing I would highlight is keep in mind that clearly, our de novos that we’ve been putting up each year, we’re putting two or three small de novos. We have our Idaho Falls Community Hospital. All of those are going to add an extra point or two over what I would call normal trends. And so those, of course, continue to grow, and we continue to elevate from there. As we’ve said, while the algorithm supports a 2% to 3% volume, we really do think we have an opportunity to either be behind that or exceed that on a consistent basis going forward.
