Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities - Balance Sheet (Details)

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Variable Interest Entities - Balance Sheet (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash $ 27,300 $ 36,320
Health plan receivable 143,695 118,497
Prepaid expenses and other current assets 6,909 3,613
Property and equipment, net 8,121 8,686
Other long-term assets 19,144 19,531
TOTAL ASSETS [1] 855,925 860,967
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 11,603 8,663
Accrued expenses and other current liabilities 28,628 36,884
Accrued payroll 5,048 3,506
Claims payable 222,177 178,009
TOTAL LIABILITIES [1] 470,493 427,305
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY $ 855,925 $ 860,967
Accounts Payable, Noncurrent, Related Party, Type [Extensible Enumeration] Affiliated Entity [Member] Affiliated Entity [Member]
VIE    
ASSETS    
Cash $ 7,547 $ 6,491
Clinic fees, insurance and other receivable 1,046 138
Health plan receivable 572 571
Prepaid expenses and other current assets 1,191 1,261
Property and equipment, net 33 23
Other long-term assets 140 153
TOTAL ASSETS 10,529 8,637
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 4,946 5,073
Accrued expenses and other current liabilities 746 515
Accrued payroll 3,508 3,141
Claims payable 4,767 3,973
Other long-term liabilities 939 946
Due to consolidated entities of P3 44,609 44,200
TOTAL LIABILITIES 59,515 57,848
MEMBERS’ DEFICIT (48,986) (49,211)
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY $ 10,529 $ 8,637
[1] The Company’s condensed consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 13 “Variable Interest Entities,” P3 LLC is itself a VIE. P3 LLC represents substantially all the assets and liabilities of the Company. As a result, the language and amounts below refer only to VIEs held at the P3 LLC level. The condensed consolidated balance sheets include total assets that can be used only to settle obligations of P3 LLC’s consolidated VIEs totaling $10.5 million and $8.6 million as of March 31, 2024 and December 31, 2023, respectively, and total liabilities of P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $14.9 million and $13.6 million as of March 31, 2024 and December 31, 2023, respectively. These VIE assets and liabilities do not include $44.6 million and $44.2 million of net amounts due to affiliates as of March 31, 2024 and December 31, 2023, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets.