Debt retirement is one of them, as well as share repurchases. We look at — obviously, we’ll look at where market conditions are at and as well as various investment opportunities that we have and balance — balance our capital allocation based on what we think will drive a best return for shareholders.
Brian Tanquilut: Thank you.
Operator: Our next question is from Stephen Baxter with Wells Fargo. Please proceed with your question.
Stephen Baxter: On the volume outlook. So on the hospital side it looks like if you achieve the growth you’re targeting. I think you’ll be in the upper 80s range compared to the 2019 baseline. I guess how should we think about the volume that you haven’t recovered? I guess how much of that do you view as a real opportunity, if labor pressure eases and how much do you think could be service lines that might not make sense for the company going forward? And then just on the USPI side, do you think the volume growth on USPI is going to be pretty consistent throughout the year, or do you think maybe that’s going to be ramping a little bit throughout the year maybe as the environment continues to normalize? Thanks.
Saum Sutaria: Yes. I’m happy to start, it’s Saum. So on the hospital side from a volume perspective, I would say that it really €“ the year really depends on the assumptions that we’ve moved past significant disruption from COVID-related activity. Obviously, as the last three years have proven, that can be somewhat hard to forecast. But I think there’s a lot of good reasons at this point to believe that that will in fact be the case this year. Even the acuity of the COVID that we’re seeing and even during the winter the amount of COVID we saw has come down. It’s been quicker to treat easy short stay in and out type of cases with much lower impact on acuity. And importantly for us, given our strategy, it had a lot less effect on disrupting surgical scheduling and other things in the acute care hospital environment.
So anyway, that’s just I think a good sign overall. Look, in terms of USPI, as I mentioned, we’re bridging from an inconsistent quarter-to-quarter set of results in 2022 into 2023 with a very thoughtful, bottoms-up, comprehensive examination of our portfolio. It’s €“ this is really important. We took the time to understand the physician additions, the initiatives, the service lines, et cetera before coming to our guidance and we expect to see more consistency through the year this year than we did in the prior year. And look, if there’s a range on the guidance for a reason, if post-pandemic recovery is more attractive, the upper end of the guidance contemplates that. And obviously, we would love to deliver that. So that’s what we’re working towards.
Dan Cancelmi: Yes. And just to add on just in terms of from an earnings perspective is for USPI, as we move through the year, as I pointed out, roughly 22% of the EBITDA for the year will be generated in the first quarter, which is great when you look at the first quarter last year, it’s growth of close to 13%, you take into consideration there is some headwinds in the first quarter this year compared to last year related to sequestration the 340B, but still even with some of that there’s still nice growth year-over-year in the first quarter. And obviously, the fourth quarter is the strongest quarter for USPI.
Operator: We have reached the end of the questions at this time. This concludes today’s teleconference. Tenet Investor Relations is available for follow-up questions. You may disconnect your lines at this time and we thank you for your participation.
