Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Significant Accounting Policies |
|
| Summary of total cash balances |
|
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Successor |
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|
Predecessor |
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|
December 31, |
|
|
December 31, |
|
|
2021 |
|
|
2020 |
Checking |
|
$ |
140,477,586 |
|
|
$ |
36,261,104 |
Restricted |
|
|
356,286 |
|
|
|
3,641,843 |
Total Cash Balances |
|
$ |
140,833,872 |
|
|
$ |
39,902,947 |
|
|
|
|
|
|
|
|
|
|
|
|
Predecessor |
|
|
December 2, |
|
December 31, |
|
December 31, |
|
|
2021 |
|
2020 |
|
2019 |
Checking |
|
$ |
5,300,842 |
|
$ |
36,261,104 |
|
$ |
32,592,496 |
Restricted |
|
|
54,095 |
|
|
3,641,843 |
|
|
312,352 |
Total Cash Balances |
|
$ |
5,354,937 |
|
$ |
39,902,947 |
|
$ |
32,904,848 |
|
| Summary of health plans from which the Company has a concentration of revenue that is 10.0%, or more |
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Successor |
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Predecessor |
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December 3, 2021 |
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|
|
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January 1, 2021 |
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|
|
Year Ended |
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|
Year Ended |
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through December 31, |
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through December 2, |
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December 31, |
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|
|
December 31, |
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|
|
Revenue Type |
|
2021 |
|
% of Total |
|
|
|
2021 |
|
% of Total |
|
2020 |
|
% of Total |
|
2019 |
|
% of Total |
|
Capitated Revenue |
|
$ |
57,224,539 |
|
97 |
% |
|
|
$ |
567,735,297 |
|
98 |
% |
$ |
480,739,577 |
|
98 |
% |
$ |
139,332,707 |
|
96 |
% |
Other Patient Service Revenue: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Clinical Fees & Insurance Revenue |
|
|
750,675 |
|
2 |
% |
|
|
|
4,318,074 |
|
1 |
% |
|
3,364,504 |
|
1 |
% |
|
3,312,107 |
|
2 |
% |
Shared Risk Revenue |
|
|
180,558 |
|
0 |
% |
|
|
|
601,509 |
|
0 |
% |
|
1,111,466 |
|
0 |
% |
|
932,301 |
|
1 |
% |
Care Coordination / Management Fees |
|
|
600,175 |
|
1 |
% |
|
|
|
5,880,397 |
|
1 |
% |
|
5,614,539 |
|
1 |
% |
|
1,893,553 |
|
1 |
% |
Incentive Fees |
|
|
6,450 |
|
0 |
% |
|
|
|
67,141 |
|
0 |
% |
|
233,439 |
|
0 |
% |
|
11,444 |
|
0 |
|
Total Other Patient Service Revenue |
|
|
1,537,858 |
|
3 |
% |
|
|
|
10,867,121 |
|
2 |
% |
|
10,323,948 |
|
2 |
% |
|
6,149,405 |
|
4 |
% |
Total Revenue |
|
$ |
58,762,397 |
|
100 |
% |
|
|
$ |
578,602,418 |
|
100 |
% |
$ |
491,063,525 |
|
100 |
% |
$ |
145,482,112 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Successor |
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Predecessor |
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|
December 3, 2021 |
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|
|
January 1, 2021 |
|
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|
Year Ended |
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|
Year Ended |
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through December 31, |
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through December 2, |
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December 31, |
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|
December 31, |
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|
Plan Name |
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2021 |
|
% of Total |
|
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2021 |
|
% of Total |
|
2020 |
|
% of Total |
|
2019 |
|
% of Total |
|
Health Plan A |
|
$ |
11,664,112 |
|
20 |
% |
|
$ |
139,289,079 |
|
24 |
% |
$ |
147,906,495 |
|
30 |
% |
$ |
— |
|
— |
|
Health Plan B |
|
|
12,757,714 |
|
22 |
% |
|
|
126,460,232 |
|
22 |
% |
|
112,384,330 |
|
23 |
% |
|
13,557,771 |
|
9 |
% |
Health Plan C |
|
|
6,156,558 |
|
10 |
% |
|
|
71,061,602 |
|
12 |
% |
|
66,237,074 |
|
13 |
% |
|
27,788,287 |
|
19 |
% |
Health Plan D |
|
|
10,337,160 |
|
18 |
% |
|
|
114,496,751 |
|
20 |
% |
|
62,683,829 |
|
13 |
% |
|
6,106,544 |
|
4 |
% |
Health Plan E |
|
|
1,820,518 |
|
3 |
% |
|
|
22,249,245 |
|
4 |
% |
|
28,880,247 |
|
6 |
% |
|
39,265,322 |
|
27 |
% |
Health Plan F |
|
|
2,446,094 |
|
4 |
% |
|
|
26,670,388 |
|
5 |
% |
|
24,521,349 |
|
5 |
% |
|
26,703,364 |
|
18 |
% |
Health Plan G |
|
|
— |
|
— |
% |
|
|
264,006 |
|
— |
% |
|
22,646,251 |
|
5 |
% |
|
20,157,166 |
|
14 |
% |
All Other |
|
|
13,580,241 |
|
23 |
% |
|
|
78,111,115 |
|
13 |
% |
|
25,803,950 |
|
5 |
% |
|
11,903,658 |
|
9 |
% |
Total Revenue |
|
$ |
58,762,397 |
|
100 |
% |
|
$ |
578,602,418 |
|
100 |
% |
$ |
491,063,525 |
|
100 |
% |
$ |
145,482,112 |
|
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 Receivables |
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|
Successor |
|
|
Predecessor |
|
|
December 31, |
|
|
December 31, |
Health Plan Name |
|
2021 |
|
|
2020 |
Health Plan A |
|
$ |
4,695,712 |
|
|
$ |
5,732,221 |
Health Plan B |
|
|
15,473,828 |
|
|
|
15,316,696 |
Health Plan C |
|
|
1,380,752 |
|
|
|
7,332,687 |
Health Plan D |
|
|
6,651,586 |
|
|
|
6,863,270 |
Health Plan E |
|
|
2,439,046 |
|
|
|
2,194,209 |
Health Plan F |
|
|
2,925,751 |
|
|
|
3,222,247 |
Health Plan G |
|
|
239,375 |
|
|
|
2,735,562 |
Health Plan H |
|
|
2,185,619 |
|
|
|
878,866 |
Health Plan I |
|
|
1,134,750 |
|
|
|
17,908 |
Health Plan J |
|
|
149,915 |
|
|
|
285,730 |
Health Plan K |
|
|
2,705,147 |
|
|
|
4,569 |
Health Plan L |
|
|
899,560 |
|
|
|
378,822 |
Health Plan M |
|
|
1,747,116 |
|
|
|
— |
Health Plan N |
|
|
974,092 |
|
|
|
— |
Health Plan O |
|
|
666,291 |
|
|
|
— |
Health Plan P |
|
|
106,162 |
|
|
|
— |
Health Plan Q |
|
|
61,990 |
|
|
|
— |
Health Plan R |
|
|
3,578,682 |
|
|
|
— |
Health Plan T |
|
|
2,175,324 |
|
|
|
— |
Health Plan U |
|
|
60,306 |
|
|
|
— |
Total Health Plan Receivables |
|
$ |
50,251,004 |
|
|
$ |
44,962,787 |
|
|
|
|
|
|
|
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|
Health Plan Settlement Payables |
|
|
Successor |
|
|
Predecessor |
|
|
December 31, |
|
|
December 31, |
Health Plan Name |
|
2021 |
|
|
2020 |
Health Plan B |
|
$ |
11,700,274 |
|
|
$ |
— |
Health Plan C |
|
|
— |
|
|
|
1,928,414 |
Health Plan D |
|
|
3,882,250 |
|
|
|
4,680,185 |
Health Plan F |
|
|
6,085,425 |
|
|
|
6,125,681 |
Health Plan G |
|
|
776,164 |
|
|
|
1,008,495 |
Health Plan I |
|
|
(215,626) |
|
|
|
— |
Health Plan O |
|
|
(39,151) |
|
|
|
— |
Health Plan U |
|
|
226,209 |
|
|
|
— |
Health Plan V |
|
|
133,149 |
|
|
|
— |
Total Health Plan Settlement Payables |
|
$ |
22,548,694 |
|
|
$ |
13,742,775 |
|
| Summary of estimated useful lives applicable to PP&E |
|
|
|
Classification |
|
Depreciation Cycle |
Leasehold Improvements (Cycle: Lease Term) |
|
1 to 10 Years |
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 |
|
|
|
|
|
Volatility |
|
|
60.0 |
% |
Risk-Free Interest rate |
|
|
1.26 |
% |
Exercise Price |
|
$ |
11.50 |
|
Expected Term |
|
|
4.9 |
Years |
|