Quarterly report pursuant to Section 13 or 15(d)

REVENUE

v3.23.4
REVENUE
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE

5. REVENUE

The Company disaggregates revenue between continuing operations and discontinued operations.  Revenue streams from contracts with customers depicts the nature, amount, timing and uncertainty of its revenue and cash flows as affected by economic factors. Commercial insurance consists of neuromonitoring cases whereby a patient has healthcare insurance that we bill. Facility billing consists of neuromonitoring cases whereby the Company has an agreement to bill the medical facility for patients that do not have health care insurance.  

The Company’s revenue disaggregated by payor is as follows (in thousands):

Three Months Ended September 30, 

Nine Months Ended September 30, 

2023

    

2022

2023

    

2022

  

 

  

  

 

  

Managed service agreements and other

$

48

$

162

$

226

$

356

Discontinued operations

 

929

 

6,042

 

5,842

12,195

Accounts Receivable

A summary of the accounts receivable, net, by revenue stream is as follows (in thousands):

September 30, 

December 31,

    

2023

    

2022

Technical service

$

1,711

 

$

3,072

Professional service

4,302

11,829

Other

 

 

242

Total accounts receivable, net

$

6,013

$

15,143

Accounts receivable as of September 30, 2023 and December 31, 2022 is net of implicit price concessions of $12.2 million and $13.9  million, respectively

The concentration of accounts receivable, net, by payor as a percentage of total accounts receivable is as follows:

As of September 30,

As of December 31,

2023

    

2022

 

  

Commercial insurance

85

%

84

%

Facility billing

14

%

9

%

Other

1

%

7

%

Total

 

100

%

100

%