Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

Note 16 – Segment Information

We report the results of our operations as three segments in our consolidated financial statements: (i) the hospital division, (ii) the population health management division and (ii) the real estate division. The determination of our reporting segments was made on the basis of our strategic priorities, which corresponds to the manner in which our Chief Executive Officer, as our chief operating decision maker, reviews and evaluates operating performance to make decisions about resources to be allocated. We evaluate the performance of our reportable segments based on, among other measures, operating income, which is defined as income before interest expense, other income (expense), and taxes. Corporate costs primarily include expenses for support functions and salaries and benefits for corporate employees and are excluded from segment operating results.

Reportable segment information, including intercompany transactions, is presented below:

	Three months ended June 30					Six months ended June 30
	2022			2021		2022			2021
Revenues from external customers
Hospital division	$	51,604,679		$	62,814,672	$	130,731,921		$	150,157,914
Population health management division		6,443,254			—		6,443,254			—
Total revenue		58,047,933			62,814,672		137,175,175			150,157,914
Segment operating income:
Hospital division		5,249,528			29,137,332		39,647,506			83,787,175
Population health management division		(257,002	)		—		(257,002	)		—
Total segment operating income	$	4,992,526		$	29,137,332	$	39,390,504		$	83,787,175
Capital expenditures:
Hospital division	$	1,364,694		$	5,751,861	$	3,730,053		$	6,233,817
Real estate division		6,665,209			4,798,142		12,891,673			15,480,938
Total capital expenditures	$	8,029,903		$	10,550,003	$	16,621,726		$	21,714,755
Revenue from inter-segment activities:
Real estate division	$	7,943,243		$	—	$	11,989,212		$	11,054,153
Depreciation and amortization:
Hospital division	$	2,703,655		$	1,381,394	$	5,096,326		$	3,155,383
Population health management division		387,984			—		387,984			—
Real estate division		40,846			842,067		45,036			846,257
Total depreciation and amortization	$	3,132,485		$	2,223,461	$	5,529,346		$	4,001,640

	As of
	June 30, 2022		December 31, 2021
Assets:
Hospital division	$	384,426,690	$	287,316,356
Population health management division		462,484,616		—
Real estate division		24,881,954		107,333,687
Total Assets	$	871,793,260	$	394,650,043