Significant Accounting Policies (Tables) - P3 Health Partners Inc.
|
6 Months Ended |
12 Months Ended |
Jun. 30, 2022 |
Dec. 31, 2021 |
| Summary of total cash balances |
|
|
|
|
|
|
|
|
|
Successor |
|
|
June 30, 2022 |
|
December 31, 2021 |
Unrestricted |
|
$ |
63,145,379 |
|
$ |
140,477,586 |
Restricted |
|
|
753,920 |
|
|
356,286 |
Total Cash Balances |
|
$ |
63,899,299 |
|
$ |
140,833,872 |
|
|
|
|
|
|
Predecessor |
|
|
June 30, 2021 |
Unrestricted |
|
$ |
16,322,893 |
Restricted |
|
|
223,872 |
Total Cash Balances |
|
$ |
16,546,765 |
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
|
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 sources (by product type) from which the Company's revenues are derived |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
|
Three Months Ended |
|
|
|
|
June 30, 2021 |
|
|
|
Revenue Type |
|
June 30, 2022 |
|
% of Total |
|
|
(As Restated) |
|
% of Total |
|
Capitated Revenue |
|
$ |
267,102,466 |
|
99.1 |
% |
|
$ |
141,560,867 |
|
97.9 |
% |
Other Patient Service Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
Clinical Fees & Insurance Revenue |
|
|
264,624 |
|
0.1 |
% |
|
|
1,286,863 |
|
0.9 |
% |
Shared Risk Revenue |
|
|
55,154 |
|
0.0 |
% |
|
|
202,011 |
|
0.1 |
% |
Care Coordination / Management Fees |
|
|
762,067 |
|
0.3 |
% |
|
|
971,605 |
|
0.7 |
% |
Incentive Fees |
|
|
1,269,660 |
|
0.5 |
% |
|
|
565,098 |
|
0.4 |
% |
Total Other Patient Service Revenue |
|
|
2,351,505 |
|
0.9 |
% |
|
|
3,025,577 |
|
2.1 |
% |
Total Revenue |
|
$ |
269,453,971 |
|
100 |
% |
|
$ |
144,586,444 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
|
|
Six Months Ended |
|
|
|
|
June 30, 2021 |
|
|
|
Revenue Type |
|
June 30, 2022 |
|
% of Total |
|
|
(As Restated) |
|
% of Total |
|
Capitated Revenue |
|
$ |
536,787,281 |
|
98.9 |
% |
|
$ |
290,525,057 |
|
98.2 |
% |
Other Patient Service Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
Clinical Fees & Insurance Revenue |
|
|
2,146,877 |
|
0.4 |
% |
|
|
2,108,627 |
|
0.7 |
% |
Shared Risk Revenue |
|
|
55,154 |
|
0.0 |
% |
|
|
202,011 |
|
0.1 |
% |
Care Coordination / Management Fees |
|
|
2,683,173 |
|
0.5 |
% |
|
|
1,848,400 |
|
0.6 |
% |
Incentive Fees |
|
|
1,325,820 |
|
0.2 |
% |
|
|
1,200,291 |
|
0.4 |
% |
Total Other Patient Service Revenue |
|
|
6,211,024 |
|
1.1 |
% |
|
|
5,359,329 |
|
1.8 |
% |
Total Revenue |
|
$ |
542,998,305 |
|
100 |
% |
|
$ |
295,884,386 |
|
100 |
% |
|
|
| Summary of health plans from which the Company has a concentration of revenue that is 10.0%, or more |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
|
Three Months Ended |
|
|
|
|
June 30, 2021 |
|
|
|
Plan Name |
|
June 30, 2022 |
|
% of Total |
|
|
(As Restated) |
|
% of Total |
|
Health Plan C |
|
$ |
54,392,897 |
|
20.2 |
% |
|
$ |
18,412,847 |
|
12.7 |
% |
Health Plan B |
|
|
45,818,789 |
|
17.0 |
% |
|
|
33,449,667 |
|
23.2 |
% |
Health Plan A |
|
|
48,047,307 |
|
17.8 |
% |
|
|
39,119,191 |
|
27.1 |
% |
Health Plan D |
|
|
36,013,196 |
|
13.4 |
% |
|
|
27,231,621 |
|
18.8 |
% |
All Other |
|
|
85,181,782 |
|
31.6 |
% |
|
|
26,373,118 |
|
18.2 |
% |
Total Revenue |
|
$ |
269,453,971 |
|
100 |
% |
|
$ |
144,586,444 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
|
|
Six Months Ended |
|
|
|
|
June 30, 2021 |
|
|
|
Plan Name |
|
June 30, 2022 |
|
% of Total |
|
|
(As Restated) |
|
% of Total |
|
Health Plan C |
|
$ |
109,714,073 |
|
20.2 |
% |
|
$ |
37,693,084 |
|
12.7 |
% |
Health Plan B |
|
|
93,838,172 |
|
17.3 |
% |
|
|
67,034,039 |
|
22.7 |
% |
Health Plan A |
|
|
93,285,372 |
|
17.2 |
% |
|
|
77,813,676 |
|
26.3 |
% |
Health Plan D |
|
|
72,876,157 |
|
13.4 |
% |
|
|
54,925,880 |
|
18.6 |
% |
All Other |
|
|
173,284,531 |
|
31.9 |
% |
|
|
58,417,707 |
|
19.7 |
% |
Total Revenue |
|
$ |
542,998,305 |
|
100 |
% |
|
$ |
295,884,386 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
|
Predecessor |
|
|
|
December 3, 2021 |
|
|
|
|
|
January 1, 2021 |
|
|
|
Year Ended |
|
|
|
Year Ended |
|
|
|
|
|
through December 31, |
|
|
|
|
|
through December 2, |
|
|
|
December 31, |
|
|
|
December 31, |
|
|
|
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: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
|
|
December 3, 2021 |
|
|
|
|
January 1, 2021 |
|
|
|
Year Ended |
|
|
|
Year Ended |
|
|
|
|
|
through December 31, |
|
|
|
|
through December 2, |
|
|
|
December 31, |
|
|
|
December 31, |
|
|
|
Plan Name |
|
2021 |
|
% of Total |
|
|
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 |
|
|
|
|
|
|
|
|
|
Health Plan Receivables |
|
|
Successor |
|
|
June 30, 2022 |
|
December 31, 2021 |
Health Plan A |
|
$ |
4,296,896 |
|
$ |
4,695,712 |
Health Plan B |
|
|
24,371,497 |
|
|
15,473,828 |
Health Plan C |
|
|
32,543,742 |
|
|
1,380,752 |
Health Plan D |
|
|
13,749,578 |
|
|
6,651,586 |
Health Plan E |
|
|
517,654 |
|
|
2,439,046 |
Health Plan F |
|
|
1,435,258 |
|
|
2,925,751 |
Health Plan G |
|
|
19,890 |
|
|
239,375 |
Health Plan H |
|
|
3,795,423 |
|
|
2,185,619 |
Health Plan I |
|
|
1,504,353 |
|
|
1,134,750 |
Health Plan J |
|
|
317,704 |
|
|
149,915 |
Health Plan K |
|
|
666,312 |
|
|
2,705,147 |
Health Plan L |
|
|
260,317 |
|
|
899,560 |
Health Plan M |
|
|
3,310,581 |
|
|
1,747,116 |
Health Plan N |
|
|
1,596,377 |
|
|
974,092 |
Health Plan O |
|
|
2,696,375 |
|
|
666,291 |
Health Plan P |
|
|
415,688 |
|
|
106,162 |
Health Plan Q |
|
|
351,090 |
|
|
61,990 |
Health Plan R |
|
|
4,426,655 |
|
|
3,578,682 |
Health Plan S |
|
|
600,639 |
|
|
— |
Health Plan T |
|
|
2,198,285 |
|
|
2,175,324 |
Health Plan U |
|
|
723,797 |
|
|
60,306 |
Health Plan W |
|
|
8,299 |
|
|
— |
Total Health Plan Receivables |
|
$ |
99,806,410 |
|
$ |
50,251,004 |
|
|
|
|
|
|
|
|
|
Health Plan Settlement Payables |
|
|
Successor |
|
|
June 30, 2022 |
|
December 31, 2021 |
Health Plan A |
|
$ |
109,085 |
|
$ |
— |
Health Plan B |
|
|
11,700,274 |
|
|
11,700,274 |
Health Plan D |
|
|
— |
|
|
3,882,250 |
Health Plan F |
|
|
5,144,469 |
|
|
6,085,425 |
Health Plan G |
|
|
885,194 |
|
|
776,164 |
Health Plan I |
|
|
(147,868) |
|
|
(215,626) |
Health Plan O |
|
|
16,552 |
|
|
(39,151) |
Health Plan U |
|
|
226,209 |
|
|
226,209 |
Health Plan V |
|
|
88,480 |
|
|
133,149 |
Total Health Plan Settlement Payables |
|
$ |
18,022,395 |
|
$ |
22,548,694 |
|
|
|
|
|
|
|
|
|
|
|
Health Plan Receivables |
|
|
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 |
|
|
|
|
|
|
|
|
|
|
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 |
|