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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Service Fee Revenue
Our total revenues for the years ended December 31, 2024, 2023, and 2022 are presented in the table below. Our patient service revenue is displayed as the estimated service fee, broken down by classification of insurance coverage type, along with revenue generated from our management services and other sources such as software and AI..
 
In Thousands202420232022
Commercial insurance$1,018,327 $879,792 $769,753 
Medicare410,072 356,506 305,031 
Medicaid44,736 42,302 37,530 
Workers' compensation/personal injury43,666 46,406 50,333 
Other payors104,888 87,675 65,911 
Management fee revenue24,676 17,936 22,235 
Other revenue46,724 32,580 27,223 
Revenue under capitation arrangements136,575 153,433 152,045 
Total revenue$1,829,664 $1,616,630 $1,430,061 
Schedule of Accounts Payable and Accrued Expenses Accounts payable and accrued expenses were comprised of the following (in thousands):
 December 31,
 20242023
Accounts payable$96,450 $122,888 
Accrued expenses153,252 124,059 
Accrued salary and benefits68,242 71,297 
Accrued professional fees33,520 24,696 
Total$351,464 $342,940 
Schedule of Foreign Currency Translation Amounts The following is a reconciliation of Foreign Currency Translation amounts for the years ended December 31, 2024, 2023 and 2022 is provided below (in thousands):
Currency Translation
Balance as of Balance as of December 31, 2021$(442)
Currency Translation Adjustments(3,943)
Balance as of Balance as of December 31, 2022(4,385)
Currency Translation Adjustments4,617 
Balance as of Balance as of December 31, 2023232 
Currency Translation Adjustments(5,929)
Balance as of Balance as of December 31, 2024$(5,697)
Schedule of Effect of Derivative Instruments on Comprehensive (Loss) Income
A tabular presentation of the effect of derivative instruments on our other comprehensive income of the 2019 Swaps which remain ineffective is as follows (amounts in thousands):
For the years endedAccountBeginning BalanceAmount of comprehensive loss recognized on derivative net of taxesAmount of loss reclassified out of accumulated OCI into income (prior period effective portion), net of taxes*Ending Balance
December 31, 2024Accumulated Other Comprehensive Loss, net of taxes$(11,625)$— $9,352 $(2,273)
December 31, 2023Accumulated Other Comprehensive Loss, net of taxes$(15,201)$— $3,576 $(11,625)
December 31, 2022Accumulated Other Comprehensive Loss, net of taxes$(18,888)$— $3,687 $(15,201)
*Net of taxes of $3.0 million, $1.4 million and $1.3 million for the years ended December 31, 2024, 2023, and 2022, respectively.

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):
For the year 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)Net receipts (payments) associated with swapLocation of loss reclassified from accumulated other comprehensive income (loss) into income (prior period effective portion) and net receipts (payments) associated with swap
December 31, 2024$(8,006)Non-cash change in fair value of interest rate swaps$(9,352)$13,126Interest Expense
December 31, 2023$(8,185)Non-cash change in fair value of interest rate swaps$(3,576)$14,541Interest Expense
December 31, 2022$39,621Non-cash change in fair value of interest rate swaps$(3,687)$(2,826)Interest Expense
Schedule of Business Acquisitions by Acquisition, Contingent Consideration
A tabular roll-forward of contingent consideration is as follows (amounts in thousands):
For the year ended December 31, 2024
EntityAccountDecember 31, 2023 BalanceSettlement of Contingent ConsiderationChange in Valuation of Contingent ConsiderationCurrency TranslationDecember 31, 2024 Balance
Heart & Lung LimitedAccrued Expenses & Other Long Term Liabilities$6,242 $(8,221)$1,060 $919 $— 
For the year ended December 31, 2023
EntityAccountJanuary 1, 2023 BalanceSettlement of Contingent ConsiderationChange in Valuation of Contingent ConsiderationCurrency TranslationDecember 31, 2023 Balance
AidenceOther Long Term Liabilities$7,158 $— $(7,158)$— $— 
QuantibAccrued Expenses & Other Long Term Liabilities$2,134 $(3,535)$1,401 $— $— 
MontclairAccrued Expenses$1,200 $— $(1,200)$— $— 
Heart & Lung LimitedAccrued Expenses & Other Long Term Liabilities$11,053 $(7,854)$2,476 $567 $6,242 
For the year ended December 31, 2022
EntityJanuary 1, 2022 BalanceAdditionChange in Valuation of Contingent ConsiderationCurrency TranslationDecember 31, 2022 Balance
Aidence$— $7,477 $(362)$43 $7,158 
Quantib$— $3,019 $(903)$18 $2,134 
Montclair$— $1,200 $— $— $1,200 
Heart & Lung Limited$— $10,225 $566 $262 $11,053 
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, 2024
Level 1Level 2Level 3Total
Other Current Assets    
2019 SWAPS - Interest Rate Contracts$— $7,112 $— $7,112 
 
As of December 31, 2023
Level 1Level 2Level 3Total
Deposits and Other    
2019 SWAPS - Interest Rate Contracts$— $15,118 $— $15,118 
The tables below summarize the estimated fair values of contingencies and holdbacks relating to our acquisitions that are subject to fair value measurements and the classification of these liabilities on our consolidated balance sheets, as follows (in thousands):
 As of December 31, 2024
Level 1Level 2Level 3Total
Accrued expenses and other non-current liabilities    
Heart & Lung Imaging Limited$— $— $— $— 
 As of December 31, 2023
Level 1Level 2Level 3Total
Accrued expenses and other non-current liabilities    
Heart & Lung Imaging Limited$— $— $6,242 $6,242 
The table below summarizes the estimated fair value and carrying amount of our Barclays Term Loans and Trust Term Loan long-term debt as follows (in thousands):
 
 As of December 31, 2024
 Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loans and Truist Term Loan$— $1,006,713 $— $1,006,713 $1,005,625 
 
 As of December 31, 2023
 Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loans and Truist Term Loan$— $824,759 $— $824,759 $823,063 
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,
 202420232022
Net income attributable to RadNet, Inc. common stockholders$2,793 $3,044 $10,650 
BASIC NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period73,037,237 63,580,059 56,293,336 
Basic net income per share attributable to RadNet, Inc. common stockholders$0.04 $0.05 $0.19 
DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period73,037,237 63,580,059 56,293,336 
Add nonvested restricted stock subject only to service vesting296,849 202,995 172,139 
Add additional shares issuable upon exercise of stock options, warrants and holdback shares1,428,246 875,245 855,395 
Weighted average number of common shares used in calculating diluted net income per share74,762,332 64,658,299 57,320,870 
Changes in fair value associated with contingently issuable shares$— $— $(724)
Net income attributable to RadNet, Inc's common stockholders for diluted share calculation$2,793 $3,044 $9,926 
Diluted net income per share attributable to RadNet, Inc. common stockholders$0.04 $0.05 $0.17 
Stock options and non-vested restricted awards excluded from the computation of diluted per share amounts as their effect would be antidilutive:
Shares issuable upon the exercise of stock options— 754,131 152,723 
Weighted average shares for which the exercise price exceeds the average market price of common stock— 70,760 — 
Schedule of Investment in Joint Ventures
The table below summarizes our ownership interest in these joint ventures as of December 31, 2024:
Joint VenturePercentage Ownership
Franklin Imaging, LLC49 %
Greater Baltimore Diagnostic Imaging50 %
Advanced Imaging at St. Joseph Medical Center, LLC49 %
Carroll County Radiology, LLC40 %
Baltimore Washington Imaging Center, LLC35 %
Calvert Medical Imaging Centers, LLC50 %
Montgomery Community Magnetic Imaging Ctr LP49 %
Mt. Airy Imaging Center, LLC40 %
Orange County Radiation Oncology, LLC40 %
Arizona Diagnostic Radiology Group LLC49 %
Glendale Advanced Imaging Center, LLC55 %
Santa Monica Imaging Group LLC49 %
The following table is a summary of our investment in joint ventures during the years ended December 31, 2024 and 2023 (in thousands):
 
Balance as of December 31, 2022$57,893 
Equity in earnings in these joint ventures6,427 
Distribution of earnings(15,603)
Equity contributions in existing and purchase of interest in joint ventures43,993 
Balance as of December 31, 2023$92,710 
Equity in earnings in these joint ventures14,472 
Distribution of earnings(4,546)
Equity contributions in existing and purchase of interest in joint ventures1,496 
Impairment loss(75)
Balance as of December 31, 2024$104,057 
Schedule of Joint Venture Investment and Financial Information
The following table is a summary of key financial data for these joint ventures as of December 31, 2024 and 2023, respectively, and for the years ended December 31, 2024, 2023 and 2022, respectively, (in thousands):
December 31,
Balance Sheet Data:20242023
Current assets$61,158 $39,819 
Noncurrent assets232,750 224,936 
Current liabilities(53,182)(46,587)
Noncurrent liabilities(70,241)(70,834)
Total net assets$170,485 $147,334 
  
 202420232022
Net revenue$264,471 $184,194 $145,256 
Net income$30,833 $12,968 $21,169