Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

Note 17 – 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 September 30					Nine months ended September 30
	2022			2021		2022			2021
Revenue from external customers:
Hospital division	$	21,244,305		$	117,971,732	$	151,976,226		$	268,129,646
Population health management division		7,150,753			—		13,594,007			—
Total revenue	$	28,395,058		$	117,971,732	$	165,570,233		$	268,129,646
Segment operating income (loss):
Hospital division	$	(26,498,148	)	$	76,008,468	$	13,149,358		$	159,795,643
Population health management division		29,702			—		(227,300	)		—
Total segment operating income (loss)	$	(26,468,446	)	$	76,008,468	$	12,922,058		$	159,795,643
Capital expenditures:
Hospital division	$	—		$	2,031,769	$	3,730,053		$	8,265,586
Real estate division		5,890,738			1,459,593		18,782,411			16,940,531
Total capital expenditures	$	5,890,738		$	3,491,362	$	22,512,464		$	25,206,117
Revenue from inter-segment activities:
Real estate division		—			583,280		11,989,212			10,471,333
Depreciation and amortization:
Hospital division	$	3,748,431		$	652,261	$	8,844,757		$	3,807,644
Population health management division		431,986			—		819,970			—
Real estate division		149,750			1,219,538		194,786			2,065,795
Total depreciation and amortization	$	4,330,167		$	1,871,799	$	9,859,513		$	5,873,439

	As of
	September 30, 2022		December 31, 2021
Assets:
Hospital division	$	322,557,090	$	287,316,356
Population health management division		77,298,598		-
Real estate division		34,662,039		107,333,687
Total Assets	$	434,517,727	$	394,650,043