Quarterly report pursuant to Section 13 or 15(d)

REVENUE

v3.22.2.2
REVENUE
6 Months Ended
Jun. 30, 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 (in thousands):

Three Months Ended June 30, 

Six Months Ended June 30, 

2022

    

2021

2022

    

2021

  

 

  

  

 

  

Commercial insurance

$

(306)

$

3,679

$

2,518

$

6,343

Facility billing

1,227

1,068

2,272

1,851

Managed service agreements

428

1,287

847

2,059

Other

 

296

 

186

 

709

 

732

Total

$

1,645

$

6,220

$

6,346

$

10,985

Accounts Receivable

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

June 30, 

December 31,

    

2022

    

2021

Technical service

$

11,278

 

$

18,904

Professional service

9,315

8,209

Other

 

396

 

697

Total accounts receivable, net

$

20,989

$

27,810

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

As of June 30,

As of December 31,

2022

    

2021

 

  

Commercial insurance

91

%

91

%

Facility billing

6

%

2

%

Managed service arrangements

2

%

3

%

Other

1

%

4

%

Total

 

100

%

100

%