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SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Our chief operating decision makers ("CODM") previously utilized the following three operating segments, "Acute Care EHR", "Post-acute care EHR" and "TruBridge". However, in the fourth quarter of 2022, the Company made a number of changes to its organizational structure and management system to better align the Company's operating model to its strategic initiatives. As a result of these changes, the Company revised its operating segments. The new operating and reportable segments, based on our three distinct business units with unique market dynamics and opportunities, are RCM, EHR, and "Patient Engagement". These segments represent the components of the Company for which separate financial information is available that is utilized on a regular basis by the CODM in assessing segment performance and in allocating the Company's resources. Management evaluates the performance of the segments based on revenues and adjusted EBITDA. The Company previously evaluated the performance of the segments based on segment gross profit. Management believes adjusted EBITDA is a useful measure to assess the performance and liquidity of the Company as it provides meaningful operating results by excluding the effects of expenses that are not reflective of its operating business performance. Our CODM group is comprised of the Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer. Accounting policies for each of the reportable segments are the same as those used on a consolidated basis. The segment disclosures below for the years ended December 31, 2022, and 2021 have been recast to conform to the current year presentation.
Adjusted EBITDA consists of GAAP net income (loss) as reported and adjusts for (i) deferred revenue purchase accounting adjustments arising from purchase allocation adjustments related to business acquisitions; (ii) depreciation expense; (iii) amortization of software development costs; (iv) amortization of acquisition-related intangible assets; (v) stock-based compensation; (vi) severance and other non-recurring charges; (vii) interest expense and other, net; (viii) impairment of goodwill; (ix) impairment of trademark intangibles; (x) gain on contingent consideration; and (xi) the provision (benefit) for income taxes. There are no intersegment revenues to be eliminated in computing segment revenue.
The following table presents a summary of the revenues and adjusted EBITDA of our three operating segments for the years ended December 31, 2023, 2022, and 2021:
Year Ended December 31,
(In thousands)202320222021
Revenues:
RCM$193,929 $179,870 $131,242 
EHR
Recurring revenue
Acute Care EHR$111,276 $109,340 $108,440 
Post-acute Care EHR$14,712 $15,384 $16,472 
Total recurring EHR revenues125,988 124,724 124,912 
Non-recurring revenue
Acute Care EHR$10,657 $13,138 $16,939 
Post-acute Care EHR$1,418 $1,961 $1,258 
Total non-recurring EHR revenues12,075 15,099 18,197 
Total EHR revenue138,063 139,823 143,109 
Patient engagement7,443 6,955 6,278 
Total revenues$339,435 $326,648 $280,629 
Adjusted EBITDA by Segment:
RCM24,800 35,219 28,265 
EHR22,900 22,507 26,505 
Patient engagement(124)(1,827)(2,093)
Total adjusted EBITDA$47,576 $55,899 $52,677 
The following table reconciles net income to adjusted EBITDA:

Year Ended December 31,
(In thousands)202320222021
Net income (loss), as reported
$(45,789)$15,867 $18,430 
Deferred revenue and other acquisition-related adjustments— 109 747 
Depreciation expense1,946 2,443 2,156 
Amortization of software development costs8,096 3,484 931 
Amortization of acquisition-related intangibles16,426 17,403 13,786 
Stock-based compensation3,271 5,173 5,457 
Severance and other non-recurring charges22,186 4,504 4,892 
Interest expense and other, net11,776 5,267 1,632 
Impairment of goodwill35,913 — — 
Impairment of trademark intangibles2,342 — — 
Gain on contingent consideration— (565)— 
Provision (benefit) for income taxes
(8,591)2,214 4,646 
Total adjusted EBITDA$47,576 $55,899 $52,677