Property and Equipment, Net

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

TOI Parent Inc.

Property and Equipment, Net

Property and Equipment, Net

Note 8.  Property and Equipment, Net

The Company accounts for property and equipment at historical cost less accumulated depreciation.

Property and equipment, net, consist of the following:

		September 30,		December 31,
	Useful lives	2021		2020
Computers and software	60 months	$	739,853	$	424,099
Office furniture	80 months		305,506		270,761
Leasehold improvements	Shorter of lease term or estimated useful life		3,181,788		1,684,889
Medical equipment	60 months		719,035		515,386
Construction in progress			129,306		204,724
Equipment capital lease assets	Shorter of lease term or estimated useful life		162,769		162,769
Less: accumulated depreciation			(1,721,078)		(1,158,403)
Total property and equipment, net		$	3,517,179	$	2,104,225

Depreciation expense for the nine months ended September 30, 2021 and September 30, 2020 was $562,676 and $513,830, respectively.

Note 8. Property and Equipment, Net

The Company accounts for property and equipment at historical cost less accumulated depreciation.See Note 2 for a summary of the Company’s policies relating to property and equipment.

Property and equipment, net, consist of the following:

		December 31,		December 31,
	Useful lives	2020		2019
Computers and software	60 months	$	424,099	$	160,672
Office furniture	80 months		270,761		215,375
Leasehold improvements	Shorter of lease term or estimated useful life		1,684,889		1,159,458
Medical equipment	60 months		515,386		397,896
Construction in progress			204,724		29,320
Equipment capital lease assets	Shorter of lease term or estimated useful life		162,769		63,151
Less: accumulated depreciation			(1,158,403)		(474,969)
Total property and equipment, net		$	2,104,225	$	1,550,903

Depreciation expense for the years ended December 31, 2020, 2019, and for the period from September 20, 2018 through December 31, 2018 and the period from January 1, 2018 through September 19, 2018 was $690,499, $418,461, $56,508, and $338,196, respectively.