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Concentration of Credit Risk
 12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk
NOTE 3. Concentration of Credit Risk
The Company is economically dependent on maintaining a base of primary care and specialty care physicians as well as capitation contracts with payors. The loss of certain of those contracts could have a material adverse effect on the Company’s financial position, results of operations, or cash flows.
The Company contracts with various payors whereby the Company is entitled to monthly PMPM fees to provide a defined range of healthcare services for members attributed to its contracted primary care physicians. The Company generally accepts full financial risk for such members and therefore is responsible for the cost of all healthcare services required by them. Substantially all of the Company’s receivable balances are from a small number of payors.
Revenue from Medicare Advantage payors constitutes substantially all of the Company’s total revenue for the years ended December 31, 2024, 2023, and 2022.
The following table provides the Company’s revenue concentrations with respect to major payors as a percentage of the Company’s total revenues:
Year Ended December 31,
202420232022
Payor A21 %22 %21 %
Payor B18 %16 %21 %
Payor C10 %14 %*
Payor D**12 %
Payor E*10 %*
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*Less than 10% of total revenues.
The following table provides the Company’s concentrations of credit risk with respect to major payors as a percentage of receivables, net:
December 31,
20242023
Payor A*13 %
Payor B11 %11 %
Payor C12 %*
Payor D13 %*
Payor E15 %21 %
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*Less than 10% of total receivables.