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Goodwill and Other Intangibles (Tables)
3 Months Ended
Mar. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill are as follows:

 

 

 

 

 

 

 

Accumulated

 

 

Net

 

 

 

Gross

 

 

Impairment

 

 

Carrying

 

 

 

Amount

 

 

Loss

 

 

Value

 

December 31, 2014

 

$

23,019,309

 

 

$

(22,045,382

)

 

$

973,927

 

March 31, 2015

 

$

23,019,309

 

 

$

(22,045,382

)

 

$

973,927

 

 

Changes in Carrying Amount of Intangible Assets

Changes in the carrying amount of intangible assets during the three months ended March 31, 2015 were as follows:

 

 

 

Carrying

 

 

Accumulated

 

 

 

 

 

 

 

Amount

 

 

Amortization

 

 

Net

 

December 31, 2014

 

$

14,524,500

 

 

$

(5,444,105

)

 

$

9,080,395

 

Amortization

 

 

 

 

 

(514,556

)

 

 

(514,556

)

March 31, 2015

 

$

14,524,500

 

 

$

(5,958,661

)

 

$

8,565,839

 

 

Intangible Assets

 

Intangible assets as of March 31, 2015 and December 31, 2014 include the following:

 

 

 

 

 

March 31, 2015

 

 

December 31,

 

 

 

Useful

 

Carrying

 

 

Accumulated

 

 

 

 

 

 

2014

 

 

 

Life (Years)

 

Value

 

 

Amortization

 

 

Net

 

 

Net

 

Management fee contracts

 

6 - 8

 

$

3,498,500

 

 

$

(2,278,624

)

 

$

1,219,876

 

 

$

1,328,593

 

Non-compete

 

5

 

 

2,027,000

 

 

 

(951,210

)

 

 

1,075,790

 

 

 

1,177,333

 

Physician memberships

 

7

 

 

6,468,000

 

 

 

(2,233,000

)

 

 

4,235,000

 

 

 

4,466,000

 

Trade Name

 

5

 

 

381,000

 

 

 

(130,375

)

 

 

250,625

 

 

 

270,038

 

Service Contracts

 

10

 

 

2,150,000

 

 

 

(365,452

)

 

 

1,784,548

 

 

 

1,838,431

 

 

 

 

 

$

14,524,500

 

 

$

(5,958,661

)

 

$

8,565,839

 

 

$

9,080,395

 

 

Amortization Expense for Next Five Years Related to Intangible Assets

 

Amortization expense for the next five years related to these intangible assets is expected to be as follows:

Twelve months ended March 31,

 

 

 

 

2016

 

$

2,057,698

 

2017

 

 

2,057,698

 

2018

 

 

1,820,869

 

2019

 

 

1,166,026

 

2020

 

 

754,000

 

Thereafter

 

 

709,548