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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2023
Accounting Policies [Abstract] |
Schedule of Gain (Loss) on Securities | The components comprising total gains and losses on equity securities are as follows (in thousands) for the periods listed below:
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Total losses recognized on equity securities | $ | (4,353) |  |  | $ | (10,600) |  |  |  |  |
Gains recognized on equity securities sold | — |  |  | — |  |  |  |  |
Unrealized losses recognized on equity securities held at end of period | $ | (4,353) |  |  | $ | (10,600) |  |  |  |  |
Schedule of Disaggregated Revenue by Each Payor Type | The following table presents disaggregated revenue generated by payor type for the three months ended March 31, 2023 and 2022 (in thousands):
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Commercial | $ | 40,019 |  |  | $ | 42,140 |  |  |  |  |
Medicare | 216,310 |  |  | 133,659 |  |  |  |  |
Medicaid | 67,339 |  |  | 71,663 |  |  |  |  |
Other third parties | 13,576 |  |  | 15,796 |  |  |  |  |
Revenue | $ | 337,244 |  |  | $ | 263,258 |  |  |  |  |
Schedule of Contributions to Revenue and Receivables by Payor | The Company had major payors that contributed the following percentages of net revenue:
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Payor A | * |  | 10.6 | % |  |  |  |
Payor B | 41.5 | % |  | 30.4 | % |  |  |  |
*Less than 10% of total net revenues The Company had major payors that contributed to the following percentages of receivables and receivables – related parties:
| As of March 31, 2023 |  | As of December 31, 2022
Payor B | 31.0 | % |  | 25.0 | %
Payor C | 44.0 | % |  | 50.0 | %
Schedule of Carrying Amounts and Fair Values of Financial Instruments | The carrying amounts and fair values of the Company’s financial instruments as of March 31, 2023, are presented below (in thousands):
| Fair Value Measurements |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Money market accounts* | $ | 84,828 |  |  | $ | — |  |  | $ | — |  |  | $ | 84,828 |
Marketable securities – certificates of deposit | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Marketable securities – equity securities | 3,114 |  |  | — |  |  | — |  |  | 3,114 |
Interest rate swaps | — |  |  | 2,527 |  |  | — |  |  | 2,527 |
Total assets | $ | 88,942 |  |  | $ | 2,527 |  |  | $ | — |  |  | $ | 91,469 |
Liabilities |  |  |  |  |  |  |
APCMG contingent consideration (see Note 1) | $ | — |  |  | $ | — |  |  | $ | 1,000 |  |  | $ | 1,000 |
AAMG cash contingent consideration (see Note 3) | — |  |  | — |  |  | 5,851 |  |  | 5,851 |
VOMG contingent consideration (see Note 3) | — |  |  | — |  |  | 17 |  |  | 17 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 6,868 |  |  | $ | 6,868 |
* Included in cash and cash equivalents The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2022, are presented below (in thousands):
| Fair Value Measurements |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Money market accounts* | $ | 135,235 |  |  | $ | — |  |  | $ | — |  |  | $ | 135,235 |
Marketable securities – equity securities | 5,567 |  |  | — |  |  | — |  |  | 5,567 |
Contingent equity securities | — |  |  | — |  |  | 1,900 |  |  | 1,900 |
Interest rate swaps | — |  |  | 3,164 |  |  | — |  |  | 3,164 |
Total assets | $ | 140,802 |  |  | $ | 3,164 |  |  | $ | 1,900 |  |  | $ | 145,866 |
Liabilities |  |  |  |  |  |  |
APCMG contingent consideration | $ | — |  |  | $ | — |  |  | $ | 1,000 |  |  | $ | 1,000 |
AAMG cash contingent consideration (see Note 3) | — |  |  | — |  |  | 5,851 |  |  | 5,851 |
VOMG contingent consideration (see Note 3) | — |  |  | — |  |  | 17 |  |  | 17 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 6,868 |  |  | $ | 6,868 |
* Included in cash and cash equivalents

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