General form of registration statement for all companies including face-amount certificate companies

Significant Accounting Policies (Tables)

v3.21.4
Significant Accounting Policies (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Significant Accounting Policies    
Summary of total cash balances

​

​

​

​

​

​

​

​

​

    

Unaudited

    

​

​

Type of Account

​

September 30, 2021

​

December 31, 2020

Checking

​

$

4,336,565

​

$

36,261,104

Restricted

​

 

346,299

​

 

3,641,843

Total Cash Balances

​

$

4,682,864

​

$

39,902,947

​

​

​

​

​

​

​

​

Type of Account

    

2019

    

2020

Checking

​

$

32,592,496

​

$

36,261,104

Restricted

 

​

312,352

 

​

3,641,843

Total Cash Balances

​

$

32,904,848

​

$

39,902,947

Summary of sources (by product type) from which the Company's revenues are derived

The following tables depict the sources (by product type) from which the Company’s revenues are derived:

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​

Three Months Ended September 30, 

 

Revenue Type

​

2021

​

% of Total

​

2020

​

% of Total

 

Capitated Revenue

    

$

152,276,992

    

97

%  

$

124,461,275

    

97

%

​

​

 

  

 

  

​

 

  

 

  

​

Other Patient Service Revenue

​

 

  

 

  

​

 

  

 

  

​

Clinical Fees & Insurance Revenue

​

 

2,408,642

 

2

%  

 

1,947,109

 

2

%

Shared Risk Revenue

​

 

139,331

 

—

%  

 

416,765

 

—

%

Care Coordination / Management Fees

​

 

1,146,355

 

1

%  

 

1,115,895

 

1

%

Incentive Fees

​

 

548,935

 

—

%  

 

899,946

 

1

%

Subtotal Other Patient Service Revenue

​

 

4,243,263

 

3

%  

 

4,379,716

 

3

%

​

​

 

  

 

  

​

 

  

 

  

​

Total Revenue

​

$

156,520,255

 

100

%  

$

128,840,991

 

100

%

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30, 

 

Revenue Type

​

2021

​

% of Total

​

2020

​

% of Total

 

Capitated Revenue

    

$

447,137,121

    

97

%  

$

351,018,290

    

97

%

​

​

 

  

 

  

​

 

  

 

  

​

Other Patient Service Revenue

​

 

  

 

  

​

 

  

 

  

​

Clinical Fees & Insurance Revenue

​

 

7,280,789

 

2

%  

 

4,895,956

 

1

%

Shared Risk Revenue

​

 

341,342

 

—

%  

 

416,765

 

—

%

Care Coordination / Management Fees

​

 

2,994,755

 

1

%  

 

2,312,840

 

1

%

Incentive Fees

​

 

1,749,225

 

—

%  

 

2,020,429

 

1

%

Subtotal Other Patient Service Revenue

​

 

12,366,111

 

3

%  

 

9,645,990

 

3

%

​

​

 

  

 

  

​

 

  

 

  

​

Total Revenue

​

$

459,503,232

 

100

%  

$

360,664,280

 

100

%

 
Summary of health plans from which the Company has a concentration of revenue that is 10.0%, or more

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​

Three Months Ended September 30, 

 

​

​

2021

​

% of Total

​

2020

​

% of Total

 

Health Plan A

    

$

36,417,184

    

23

%  

$

35,838,768

    

28

%

Health Plan B

​

 

38,227,530

 

24

%  

 

27,666,559

 

21

%

Health Plan C

​

 

29,563,741

 

19

%  

 

16,638,058

 

13

%

Health Plan D

​

 

18,913,641

 

12

%  

 

21,599,026

 

17

%

All Other

​

 

33,398,159

 

21

%  

 

27,098,580

 

21

%

Total Revenue

​

$

156,520,255

 

100

%  

$

128,840,991

 

100

%

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​

​

​

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​

​

​

​

​

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​

Nine Months Ended September 30, 

 

​

​

2021

​

% of Total

​

2020

​

% of Total

 

Health Plan A

    

$

114,230,860

    

25

%  

$

107,265,350

    

31

%

Health Plan B

​

 

105,261,569

 

23

%  

 

80,813,324

 

22

%

Health Plan C

​

 

84,489,621

 

18

%  

 

47,061,035

 

13

%

Health Plan D

​

 

56,606,725

 

12

%  

 

48,750,247

 

14

%

All Other

​

 

98,914,457

 

22

%  

 

76,774,323

 

20

%

Total Revenue

​

$

459,503,232

 

100

%  

$

360,664,280

 

100

%

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Revenue Type

    

2018

    

%  of Total

    

2019 Revenue

    

%  of Total

    

2020 Revenue

    

%  of Total

​

Capitated Revenue

​

$

86,465,658

​

99

%

$

138,727,943

​

95

%

$

471,551,241

​

97

%

Other Patient Service Revenue

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Clinical Fees & Insurance Revenue

 

​

639,636

 

1

%

​

4,329,591

 

3

%

​

7,030,606

 

1

%

Shared Risk Revenue

 

​

200,801

 

0

%

​

932,301

 

1

%

​

1,111,466

 

0

%

Care Coordination / Management Fees

​

​

390,600

​

0

%

​

1,893,553

​

1

%

​

5,614,539

​

1

%

Incentive Fees

 

​

—

 

N/A

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​

11,444

 

0

%

​

233,439

 

0

%

Subtotal Other Patient Service Revenue

 

​

1,231,037

 

1

%

​

7,166,889

 

5

%

​

13,990,050

 

3

%

Total Revenue by Year

​

$

87,696,695

 

100

%

$

145,894,832

 

100

%

$

485,541,291

 

100

%

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Plan Name

    

2018 Revenue

    

% of Total

    

2019 Revenue

    

% of Total

    

2020 Revenue

    

% of Total

​

Health Plan A

 

$

—

​

N/A

 

$

—

​

N/A

 

$

142,268,775

​

29

%

Health Plan B

 

​

—

​

N/A

 

​

13,557,771

​

9

%

​

113,116,297

​

23

%

Health Plan C

 

​

—

​

N/A

 

​

27,788,287

​

19

%

​

66,237,074

​

14

%

Health Plan D

 

​

—

​

N/A

 

​

6,106,544

​

4

%

​

62,683,829

​

13

%

Health Plan E

 

​

87,696,695

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100

%

​

39,265,322

​

27

%

​

28,128,820

​

6

%

Health Plan F

 

​

—

​

N/A

 

​

26,703,364

​

18

%

​

24,521,349

​

5

%  

Health Plan G

 

​

—

​

N/A

 

​

20,157,166

​

14

%

​

22,646,251

​

5

%  

All Other

 

​

—

​

N/A

 

​

12,316,378

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8

%

​

25,938,894

​

5

%  

Total Revenue by Year

​

$

87,696,695

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100

%

$

145,894,832

​

100

%

$

485,541,291

​

100

%  

Summary of settlement receivables (health plan surpluses) and settlement payables (health plan deficits), by health plan, by year

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Health Plan Name

    

September 30, 2021

    

December 31, 2020

Health Plan A

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$

838,428

​

$

94,501

Health Plan B

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18,853,480

​

 

15,766,808

Health Plan C

​

 

9,010,871

​

 

7,332,687

Health Plan D

​

 

7,933,506

​

 

6,863,270

Health Plan E

​

 

1,135,398

​

 

1,429,722

Health Plan F

​

 

3,236,511

​

 

3,222,247

Health Plan G

​

 

239,375

​

 

2,748,622

Health Plan H

​

 

2,124,913

​

 

428,755

Health Plan I

​

 

250,591

​

 

17,908

Health Plan J

​

 

136,586

​

 

141,922

Health Plan K

​

 

—

​

 

4,569

Health Plan L

​

 

174,859

​

 

378,822

Health Plan N

​

 

1,912,792

​

 

—

Total Health Plan Settlement Receivables

​

$

45,847,310

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$

38,429,833

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Health Plan Name

    

September 30, 2021

    

December 31, 2020

Health Plan C

​

$

191,179

​

$

1,928,414

Health Plan D

​

 

4,680,185

​

 

4,680,185

Health Plan F

​

 

7,294,784

​

 

6,125,681

Health Plan G

​

 

703,095

​

 

1,008,495

Health Plan I

​

 

166,956

​

 

—

Health Plan M

​

 

222,919

​

 

—

Total Health Plan Settlement Payables by Year

​

$

13,259,118

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$

13,742,775

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Health Plan Settlement Receivables

Health Plan Name

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2019

​

2020

Health Plan A

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$

—

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$

94,501

Health Plan B

​

 

1,796,413

​

 

15,766,808

Health Plan C

​

 

5,220,041.00

​

 

7,332,687

Health Plan D

​

 

1,155,034

​

 

6,863,270

Health Plan E

​

 

2,222,044

​

 

1,429,722

Health Plan F

​

 

4,227,155

​

 

3,222,247

Health Plan G

​

 

2,571,134

​

 

2,748,622

Health Plan H

​

 

—

​

 

428,755

Health Plan I

​

 

—

​

 

17,908

Health Plan J

​

 

263,726

​

 

141,922

Health Plan K

​

 

—

​

 

4,569

Health Plan L

​

 

—

​

 

378,822

Total Health Plan Settlement Receivables by Year

​

$

17,455,547

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$

38,429,833

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Health Plan Settlement Payables

Health Plan Name

​

2019

​

2020

Health Plan C

​

$

253,172

​

$

1,928,414

Health Plan D

 

​

27,391

 

​

4,680,185

Health Plan F

 

​

3,461,487

 

​

6,125,681

Health Plan G

 

​

1,196,522

 

​

1,008,495

Total Health Plan Settlement Payables by Year

​

$

4,938,572

​

$

13,742,775

Summary of estimated useful lives applicable to PP&E

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Classification PP&E Asset

    

Depreciation Cycle

Leasehold Improvements (Cycle: Lease Term)

 

Lease Term

Furniture & Fixtures

 

7‑Years

Computer Equipment

 

3‑Years

Medical Equipment

 

7‑Years

Software

 

3‑Years

Software (Development in Process)

 

N/A

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Classification PP&E Asset

    

Depreciation Cycle

Leasehold Improvements (Cycle: Lease Term)

 

Lease Term

Furniture & Fixtures

 

7-Years

Computer Equipment

 

3-Years

Medical Equipment

 

7-Years

Software

 

3-Years

Software (Development in Process)

 

N/A

Summary of key inputs into the option pricing model

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Key Input

    

September 30, 2021

    

December 31, 2020

 

Volatility

 

​

60.00

%  

​

65.00

%

Risk-Free Interest Rate

 

​

0.09

%  

​

0.10

%

Exercise Price

​

$

4.68

​

$

4.68

​

Expected Term

​

 

1.0

Years

 

1.1

Years

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​

​

​

​

​

Volatility

    

​

65.0

%

Risk-Free Interest rate

 

​

0.10

%

Exercise Price

​

$

4.68

​

Expected Term

​

 

1.1 years

​