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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of Service Fee Revenue
Our total service fee revenues for the years ended December 31, 2022, 2021, and 2020 are presented in the table below. Our imaging center revenue is displayed as the estimated service fee, broken down by classification of insurance coverage type. Additional revenues are earned from our management services provided to joint ventures and our software and AI subsidiaries.
 
In Thousands202220212020
Commercial insurance$785,128 $743,462 $584,035 
Medicare311,124 280,911 217,928 
Medicaid38,279 34,731 25,619 
Workers' compensation/personal injury51,339 44,235 33,478 
Other patient revenue31,849 19,398 25,314 
Management fee revenue22,235 19,630 11,253 
Software and teleradiology14,238 10,525 10,798 
Other19,428 12,436 23,297 
Revenue under capitation arrangements152,045 148,334 140,118 
Imaging center segment revenue1,425,665 1,313,662 1,071,840 
AI segment revenue4,396 1,415 — 
Total revenue$1,430,061 $1,315,077 $1,071,840 
Schedule of Accounts Payable and Accrued Expenses Accounts payable and accrued expenses were comprised of the following (in thousands):
 December 31,
 20222021
Accounts payable$102,678 $86,461 
Accrued expenses181,574 93,420 
Accrued salary and benefits62,072 62,425 
Accrued professional fees23,271 21,631 
Total$369,595 $263,937 
Schedule of Effect of Derivative Instruments on Comprehensive (Loss) Income
A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive (loss) income, net of taxes is as follows (amounts in thousands):
Interest Rate Contracts
  
For the twelve months endedAmount of Gain (Loss) Recognized on Derivative, net of taxesLocation of Gain (Loss) Recognized
in Income on Derivative
December 31, 2022$—
December 31, 2021$—
December 31, 2020$788Other Comprehensive Loss
A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2019 swaps is as follows (amounts in thousands):
Interest Rate Contracts - Effective Portion
  
For the twelve months endedAmount of Loss Recognized on Derivative, net of taxesLocation of Loss Recognized
in Income on Derivative
December 31, 2022$—
December 31, 2021$—
December 31, 2020$(20,160)Other Comprehensive Loss

A tabular presentation of the effect of derivative instruments on our statement of operations of the 2019 Swaps for the Swaps that became ineffective in 2020 is as follows (amounts in thousands):
Interest Rate Contracts - Ineffective Portion
For the twelve months endedAmount of gain (loss) recognized in income on derivative (current period ineffective portion)Location of gain (loss) recognized in Income on derivative (current period ineffective portion)Amount of loss reclassified from accumulated other comprehensive income (loss) into income (prior period effective portion)Location of loss reclassified from accumulated other comprehensive income (loss) into income (prior period effective portion)
December 31, 2022$39,621Other Income (Expense)$(3,687) Interest Expense
December 31, 2021$21,670Other Income (Expense)$(3,695)Interest Expense
December 31, 2020$(2,528)Other Income (Expense)$(3,448)Interest Expense
Schedule of Business Acquisitions by Acquisition, Contingent Consideration
A tabular rollforward of contingent consideration is as follows (amounts in thousands):
For the twelve months ended December 31, 2022
EntityAccountJanuary 1, 2022 BalanceIssuance of contingent considerationAmount of income (loss) recognized on contingent considerationCurrency TranslationDecember 31, 2022 Balance
AidenceOther Long Term Liabilities$— $11,453 $(362)$67 $11,158 
QuantibAccrued Expenses & Other Long Term Liabilities$— $4,581 $(903)$31 $3,709 
MontclairAccrued Expenses$— $1,200 $— $— $1,200 
Heart and Lung LimitedAccrued Expenses & Other Long Term Liabilities$— $10,814 $566 $276 $11,656 
Schedule of Fair Value of Assets and Liabilities
The table below summarizes the estimated fair values of certain of our financial assets that are subject to fair value measurements, and the classification of these assets in our consolidated balance sheets, as follows (in thousands):

As of December 31, 2022
Level 1Level 2Level 3Total
Other Current Assets and Deposits and Other    
2019 SWAPS - Interest Rate Contracts$— $23,302 $— $23,302 
 
As of December 31, 2021
Level 1Level 2Level 3Total
Accrued expenses and other non-current liabilities    
2019 SWAPS - Interest Rate Contracts$— $16,319 $— $16,319 
The table below summarizes the estimated fair values of contingencies and holdback relating to our Aidence Holding B.V. and Quantib B.V. acquisitions on January 20, 2022, and the Heart and Lung Imaging Limited acquisition on November 1, 2022 that are subject to fair value measurements and the classification of these liabilities on our consolidated balance sheets, as follows (in thousands):
 As of December 31, 2022
Level 1Level 2Level 3Total
Accrued expenses and other non-current liabilities    
Aidence Holding B.V. milestone consideration$— $— $11,158 $11,158 
Quantib B.V. holdback of 113,303 shares of RadNet common stock
$— $— $3,709 $3,709 
Montclair Radiological Associates$— $— $1,200 $1,200 
Heart and Lung Imaging Limited$— $— $11,656 $11,656 
The table below summarizes the estimated fair value and carrying amount of our Truist (Term Loan Agreement) and Barclays (First Lien Term Loans) long-term debt as follows (in thousands):
 
 As of December 31, 2022
 Level 1Level 2Level 3Total Fair ValueTotal Face Value
Term Loan Agreement and First Lien Term Loans$— $843,594 $— $843,594 $864,125 
 
 As of December 31, 2021
 Level 1Level 2Level 3Total Fair ValueTotal Face Value
Term Loan Agreement and First Lien Term Loans$— $766,973 $— $766,973 $767,875 
Schedule of Earnings Per Share Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data):
 
 Years Ended December 31,
 202220212020
Net income (loss) attributable to RadNet, Inc. common stockholders$10,650 $24,727 $(14,840)
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period56,293,336 52,496,679 50,891,791 
Basic net income (loss) per share attributable to RadNet, Inc. common stockholders$0.19 $0.47 $(0.29)
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period56,293,336 52,496,679 50,891,791 
Add nonvested restricted stock subject only to service vesting172,139 259,539 — 
Add additional shares issuable upon exercise of stock options, warrants and holdback shares855,395 664,815 — 
Weighted average number of common shares used in calculating diluted net income per share57,320,870 53,421,033 50,891,791 
Changes in fair value associated with contingently issuable shares$(724)$— $— 
Net income (loss) attributable to RadNet, Inc's common stockholders for diluted share calculation$9,926$24,727$(14,840)
Diluted net income (loss) per share attributable to RadNet, Inc. common stockholders$0.17 $0.46 $(0.29)
Stock options and non-vested restricted awards excluded from the computation of diluted per share amounts as their effect would be antidilutive:
Nonvested restricted stock subject to service vesting— — 329,159 
Shares issuable upon the exercise of stock options152,723 47,792 554,444 
Schedule of Investment in Joint Ventures
The following table is a summary of our investment in joint ventures during the years ended December 31, 2022 and December 31, 2021 (in thousands):
 
Balance as of December 31, 2020$34,528 
Equity contributions in existing and purchase of interest in joint ventures1,441 
Equity in earnings in these joint ventures10,967 
Distribution of earnings(4,707)
Balance as of December 31, 2021$42,229 
Equity contributions in existing and purchase of interest in joint ventures9,712 
Equity in earnings in these joint ventures10,390 
Distribution of earnings(4,438)
Balance as of December 31, 2022$57,893 
Schedule of Joint Venture Investment and Financial Information
The following table is a summary of key unaudited financial data for these joint ventures as of December 31, 2022 and 2021, respectively, and for the years ended December 31, 2022, 2021 and 2020, respectively, (in thousands):
December 31,
Balance Sheet Data:20222021
Current assets$39,304 $37,186 
Noncurrent assets134,694 73,592 
Current liabilities(29,588)(12,919)
Noncurrent liabilities(37,952)(22,370)
Total net assets$106,458 $75,489 
Book value of RadNet joint venture interests$49,564 $34,930 
Cost in excess of book value of acquired joint venture interests accounted for as equity method goodwill8,329 7,299 
Total value of RadNet joint venture interests$57,893 $42,229 
  
 202220212020
Net revenue$145,256 $129,023 $101,921 
Net income$21,169 $21,893 $16,850 
Schedule Of Foreign Currency Translation Amounts The following is a reconciliation of Foreign Currency Translation amounts for the years ended December 31, 2022, 2021 and 2020 is provided below (in thousands):
Currency Translation
Balance as of January 1, 2020$(276)
Currency Translation Adjustments(101)
Balance as of December 31, 2020(377)
Currency Translation Adjustments(65)
Balance as of December 31, 2021(442)
Currency Translation Adjustments(3,943)
Balance as of December 31, 2022$(4,385)