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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2016
Accounting Policies [Abstract] |
Service Fee Revenue |
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Commercial insurance (1) |  | $ | 539,793 |  |  | $ | 486,489 |  |  | $ | 437,525 |
Medicare |  |  | 187,941 |  |  |  | 168,545 |  |  |  | 159,562 |
Medicaid |  |  | 28,170 |  |  |  | 23,948 |  |  |  | 24,499 |
Workers' compensation/personal injury |  |  | 36,548 |  |  |  | 32,728 |  |  |  | 30,543 |
Other (2) |  |  | 29,135 |  |  |  | 35,046 |  |  |  | 18,007 |
Service fee revenue, net of contractual allowances and discounts |  |  | 821,587 |  |  |  | 746,756 |  |  |  | 670,136 |
Provision for bad debts |  |  | (45,387 | ) |  |  | (36,033 | ) |  |  | (29,807 | )
Net service fee revenue |  |  | 776,200 |  |  |  | 710,723 |  |  |  | 640,329 |
Revenue under capitation arrangements |  |  | 108,335 |  |  |  | 98,905 |  |  |  | 77,240 |
Total net revenue |  | $ | 884,535 |  |  | $ | 809,628 |  |  | $ | 717,569 |
(1) 21% of our net service fees revenue for the year ended December 31, 2016 and 20% for the years ended December 31, 2015 and 2014 were earned from a single payor. (2) Other consists of revenue from teleradiology services, consulting fees and software revenue.
Schedule of fair value of assets and liabilities |
|  | As of December 31, 2016 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Rate Contracts |  | $ | – |  |  | $ | 818 |  |  | $ | – |  |  | $ | 818 |
|  | As of December 31, 2016 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Fair Value |  |  | Total Face Value |
First Lien Term Loans |  | $ | – |  |  | $ | 483,129 |  |  | $ | – |  |  | $ | 483,129 |  |  | $ | 478,938 |
Second Lien Term Loans |  | $ | – |  |  | $ | 167,580 |  |  | $ | – |  |  | $ | 167,580 |  |  | $ | 168,000 |
|  | As of December 31, 2015 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Total Face Value |
First Lien Term Loans |  | $ | – |  |  | $ | 444,258 |  |  | $ | – |  |  | $ | 444,258 |  |  | $ | 451,023 |
Second Lien Term Loans |  |  | – |  |  |  | 173,700 |  |  |  | – |  |  |  | 173,700 |  |  |  | 180,000 |
Earnings per share |
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Net income attributable to RadNet, Inc. common stockholders |  | $ | 7,230 |  |  | $ | 7,709 |  |  | $ | 1,376 |
BASIC NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding during the period |  |  | 46,244,188 |  |  |  | 43,805,794 |  |  |  | 41,070,077 |
Basic net income per share attributable to RadNet, Inc. common stockholders |  | $ | 0.16 |  |  | $ | 0.18 |  |  | $ | 0.03 |
DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding during the period |  |  | 46,244,188 |  |  |  | 43,805,794 |  |  |  | 41,070,077 |
Add nonvested restricted stock subject only to service vesting |  |  | 220,416 |  |  |  | 865,326 |  |  |  | 994,610 |
Add additional shares issuable upon exercise of stock options and warrants |  |  | 190,428 |  |  |  | 500,252 |  |  |  | 1,084,509 |
Weighted average number of common shares used in calculating diluted net income per share |  |  | 46,655,032 |  |  |  | 45,171,372 |  |  |  | 43,149,196 |
Diluted net income per share attributable to RadNet, Inc. common stockholders |  | $ | 0.15 |  |  | $ | 0.17 |  |  | $ | 0.03 |
Investment in joint ventures |
Balance as of December 31, 2014 |  | $ | 32,123 |
Equity contributions in existing joint ventures |  |  | 265 |
Equity in earnings in these joint ventures |  |  | 8,927 |
Distribution of earnings |  |  | (7,731 | )
Balance as of December 31, 2015 |  | $ | 33,584 |
Equity contributions in existing joint ventures |  |  | 3,084 |
Equity in earnings in these joint ventures |  |  | 9,767 |
Distribution of earnings |  |  | (2,926 | )
Balance as of December 31, 2016 |  | $ | 43,509 |
Key financial data on joint ventures |
|  | December 31, |
Balance Sheet Data: |  |  | 2016 |  |  |  | 2015 |
Current assets |  | $ | 40,093 |  |  | $ | 28,186 |
Noncurrent assets |  |  | 100,146 |  |  |  | 91,660 |
Current liabilities |  |  | (14,077 | ) |  |  | (15,258 | )
Noncurrent liabilities |  |  | (44,405 | ) |  |  | (44,059 | )
Total net assets |  | $ | 81,757 |  |  | $ | 60,529 |
Book value of RadNet joint venture interests |  | $ | 38,538 |  |  | $ | 28,397 |
Cost in excess of book value of acquired joint venture interests |  |  | 4,970 |  |  |  | 4,970 |
Elimination of intercompany profit remaining on Radnet's consolidated balance sheet |  |  | – |  |  |  | 217 |
Total value of Radnet joint venture interests |  | $ | 43,509 |  |  | $ | 33,584 |
Total book value of other joint venture partner interests |  | $ | 43,219 |  |  | $ | 32,132 |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Net revenue |  | $ | 160,134 |  |  | $ | 125,544 |  |  | $ | 101,189 |
Net income |  | $ | 21,933 |  |  | $ | 19,485 |  |  | $ | 14,854 |

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