Basis of Presentation and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Schedule of Gain (Loss) on Securities

The components comprising total gains and losses on equity securities are as follows (in thousands) for the periods listed below:

	Three Months Ended March 31,
	2023		2022
Total losses recognized on equity securities	$	(4,353)	$	(10,600)
Gains recognized on equity securities sold	—		—
Unrealized losses recognized on equity securities held at end of period	$	(4,353)	$	(10,600)

Schedule of Disaggregated Revenue by Each Payor Type

The following table presents disaggregated revenue generated by payor type for the three months ended March 31, 2023 and 2022 (in thousands):

	Three Months Ended March 31,
	2023		2022
Commercial	$	40,019	$	42,140
Medicare	216,310		133,659
Medicaid	67,339		71,663
Other third parties	13,576		15,796
Revenue	$	337,244	$	263,258

Schedule of Contributions to Revenue and Receivables by Payor

The Company had major payors that contributed the following percentages of net revenue:

	Three Months Ended March 31,
	2023		2022
Payor A	*		10.6	%
Payor B	41.5	%	30.4	%

*Less than 10% of total net revenues

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

	As of March 31, 2023		As of December 31, 2022
Payor B	31.0	%	25.0	%
Payor C	44.0	%	50.0	%

Schedule of Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of March 31, 2023, are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market accounts*	$	84,828	$	—	$	—	$	84,828
Marketable securities – certificates of deposit	1,000		—		—		1,000
Marketable securities – equity securities	3,114		—		—		3,114
Interest rate swaps	—		2,527		—		2,527
Total assets	$	88,942	$	2,527	$	—	$	91,469
Liabilities
APCMG contingent consideration (see Note 1)	$	—	$	—	$	1,000	$	1,000
AAMG cash contingent consideration (see Note 3)	—		—		5,851		5,851
VOMG contingent consideration (see Note 3)	—		—		17		17
Total liabilities	$	—	$	—	$	6,868	$	6,868

*    Included in cash and cash equivalents

The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2022, are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market accounts*	$	135,235	$	—	$	—	$	135,235
Marketable securities – equity securities	5,567		—		—		5,567
Contingent equity securities	—		—		1,900		1,900
Interest rate swaps	—		3,164		—		3,164
Total assets	$	140,802	$	3,164	$	1,900	$	145,866
Liabilities
APCMG contingent consideration	$	—	$	—	$	1,000	$	1,000
AAMG cash contingent consideration (see Note 3)	—		—		5,851		5,851
VOMG contingent consideration (see Note 3)	—		—		17		17
Total liabilities	$	—	$	—	$	6,868	$	6,868

*    Included in cash and cash equivalents