Segments and Customer Concentrations

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segments and Customer Concentrations

Segments and Customer Concentrations

The Company has determined that it has a single operating segment in accordance with how its business activities are managed and evaluated. All of the Company’s significant operations are organized around the single business of providing end-to-end management services of revenue cycle operations for U.S.-based healthcare providers. Accordingly, for purposes of segment disclosures, the Company has only one reportable segment.

Healthcare providers affiliated with Ascension have accounted for a significant portion of the Company’s net services revenue each year since the Company’s formation. For the three months ended September 30, 2021 and 2020, net services revenue from healthcare organizations affiliated with Ascension accounted for 60% and 63% of the Company's total net services revenue, respectively. For the nine months ended September 30, 2021 and 2020, net services revenue from Ascension accounted for 61% and 65%, respectively. The loss of customers within the Ascension health system could have a material adverse impact on the Company’s operations. For the three months ended September 30, 2021 and 2020, Intermountain accounted for 14% and 12% of the Company's total net services revenue, respectively. For the nine months ended September 30, 2021 and 2020, Intermountain accounted for 14% of the Company’s total net services revenue.

As of September 30, 2021 and December 31, 2020, the Company had a concentration of credit risk with Ascension accounting for 20% and 25% of accounts receivable, respectively.