Quarterly report pursuant to Section 13 or 15(d)

REVENUE

v3.22.1
REVENUE
3 Months Ended
Mar. 31, 2022
REVENUE  
REVENUE

3. REVENUE

The Company disaggregates revenue from contracts with customers by revenue stream as this 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. Facility billing consists of neuromonitoring cases whereby the company has an agreement with the facility for services.  In these cases, the hospital’s patient may be uninsured or have government insurance.  

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

Three Months Ended March 31, 

2022

    

2021

  

 

  

Commercial insurance

$

2,875

$

2,761

Facility billing

1,045

783

Managed service agreements

419

772

Other

 

362

 

449

Total

$

4,701

$

4,765

Accounts Receivable

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

March 31, 

December 31,

    

2022

    

2021

Accounts receivable, net:

Technical service

$

18,269

 

$

18,904

Professional service

7,453

8,209

Other

 

737

 

697

Total accounts receivable, net

$

26,459

$

27,810

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

As of March 31,

As of December 31,

    

Accounts receivable

 

  

Commercial insurance

91

%

91

%

Facility billing

4

%

2

%

Managed service arrangements

4

%

3

%

Other

1

%

4

%

Total

100

%

100

%