If we come back to The Joint with our 935 clinics at the end of the year, we had a little over 3,000 doctors who are under the umbrella of The Joint, either full or part time. And so that does suggest to us. In addition to that, there’s 40,000 or actually, there’s 70,000 licensed practitioners in the United States today and they have to register – they have to license with the state they want to practice. Not all of them are practicing. So we know there’s roughly about 40,000 that are active. And so that if you look at it from the broader scope, is that there are enough doctors to fill the growth of The Joint in the United States today, absolutely. But are there the doctors where we want them and the high-quality doctors, making sure that they stay with us, not just being recruited?
So this is a hugely important effort for us, it’s to maintain to recruit and retain the best doctors in the world. But I think its incumbent upon us to create those environments where they want to come work with us and they stay with us, as opposed to there’s just theoretically not enough licensed doctors to fulfill our growth.
Thomas McGovern: Appreciate that color. That’s very helpful. Okay. So last thing, you guys mentioned on the call that your portfolio mix reduced slightly, 14% of total clinics are company-owned versus 15% in 2022. You also mentioned that you expect that to – logically, that’s going to – that’s going to shift more dramatically as you guys move through this refranchising initiative. I was just wondering if you guys have maybe a targeted portfolio mix? Or when the dust settles, where you guys expect the company-owned to come in as a percent of total clinics opened? Thanks.
Peter Holt: We haven’t, in any way, guided on an expected percentage. But what’s very clear is we’ve said the majority of our corporate portfolio, we expect to refranchise. And so if we ended last year with 135, I would say, by majority, we’re talking about more than 51%. We don’t have a final number, but it’s going to be the vast majority of those corporate units will, in fact, ultimately be refranchised. So you can see that, that number is going to be pretty significantly lower than where it is today at 14%.
Thomas McGovern: Understood. I appreciate you guys taking the time to answer my questions.
Peter Holt: Thank you.
Operator: And ladies and gentlemen, at this time, I’d like to turn the floor back over to management for any closing remarks.
Peter Holt: Thanks, Jamie. In February, we ran our annual Love The Joint campaign, during which our patients share their comments of The Joint on our social media. We received thousands of posts each week. So it’s hard to pick the best, but I’ll read a few that highlight our patient value proposition. Casey noted, “If I missed a session, I feel terrible. My life revolves around The Joint now. It’s helped me so much with my headache, I sleep better, I feel better mentally and physically. My doctor is incredibly helpful in sending me home with stretches to do and ways to treat my body better. I couldn’t imagine my life without The Joint now.” Julie said, “I like that no matter where you travel, the chances are that The Joint will be there as well.
Listen, I’ve been a member for six years, and I don’t know how I’d manage my health wise financially without The Joint. I’m 69 [ph] years old, on a fixed budget, and being a member has totally improved my body. I’m certain, it save me money and I have the – and I’ll continue to promote The Joint. There is nothing like The Joint. Whoever thought of this and made it happen, I thank you.” And finally, Caleb reported, “The staff of my local The Joint chiropractic facility are fantastic. They’ve always made me feel welcome and focused on the problems that I need them to. They’ve been a great help in my healing journey as a disabled veteran.” Thank you, and stay well adjusted.
Operator: Ladies and gentlemen, with that, we’ll be concluding today’s conference call and presentation. We do thank you for joining. You may now disconnect your lines.
