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Basis of Presentation and Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of Disaggregated Revenue by Each Payor Type The following table presents disaggregated revenue generated by payer type for the three and nine months ended September 30, 2024 and 2023 (in thousands):

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Commercial

 

$

52,961

 

 

$

43,495

 

 

$

142,667

 

 

$

122,421

 

Medicare

 

 

258,377

 

 

 

222,387

 

 

 

747,418

 

 

 

660,855

 

Medicaid

 

 

151,943

 

 

 

65,469

 

 

 

414,453

 

 

 

201,920

 

Other third parties

 

 

15,429

 

 

 

16,822

 

 

 

64,793

 

 

 

48,429

 

Revenue

 

$

478,710

 

 

$

348,173

 

 

$

1,369,331

 

 

$

1,033,625

 

 

Schedule of Contributions to Revenue and Receivables by Payor

The Company had major payers that contributed the following percentages of net revenue for the three and nine months ended September 30, 2024 and 2023:

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Payer A

 

 

27.7

%

 

 

37.4

%

 

 

30.0

%

 

 

39.0

%

Payer B

 

 

15.4

%

 

 

12.4

%

 

 

14.8

%

 

*

 

Payer D

 

 

12.0

%

 

*

 

 

*

 

 

*

 

*Less than 10% of total net revenues

The Company had major payers that contributed to the following percentages of receivables and receivables – related parties:

 

 

As of September 30,
2024

 

 

As of December 31,
2023

 

Payer A

 

 

31.3

%

 

 

36.0

%

Payer C

 

 

36.0

%

 

 

41.0

%