Accounts Receivable

9 Months Ended

Sep. 30, 2023

The Company’s accounts receivable consists primarily of amounts due from third-party payors and patients. See Note 2 for a summary of the Company’s policies relating to accounts receivable and allowance for credit losses.

Accounts Receivable as of September 30, 2023 and December 31, 2022 consist of the following:


(in thousands)	September 30, 2023		December 31, 2022
Oral drug accounts receivable	$	3,238	$	4,165
Capitated accounts receivable	3,187		1,623
FFS accounts receivable	32,388		26,313
Clinical trials accounts receivable	2,488		2,443
Other trade receivables	7,141		5,272
Total	$	48,442	$	39,816

The Company adopted ASU 2016-13, as amended, effective January 1, 2023, and determined no allowance for credit losses was required as of September 30, 2023. No allowance for credit losses was recorded as of September 30, 2023.

During the three and nine months ended September 30, 2023, credit losses related to direct write-offs totaled $31 and $42, respectively. Credit losses were a result of accounts receivable on completed contracts that were deemed uncollectible during the period due to delayed collection efforts. During the three and nine months ended September 30, 2023, the Company had recoveries of credit losses of $0 and $11, respectively. During the three and nine months ended September 30, 2022, the Company had net reversals of bad debt recoveries of $28 and $110, respectively and bad debt expense of $115, and $292, respectively.