Segments Results

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segments Results

NOTE 12. SEGMENT RESULTS

The Company has two primary reporting segments: (i) Real Estate Services, which consists of the leasing and subleasing of long-term care and senior living facilities to third-party tenants, including the Company’s management of three facilities on behalf of third-party owners; and (ii) Healthcare Services, which consists of the operation of the LaGrange, Lumber City, Meadowood, and Tara Facilities.

The Company reports segment information based on the “management approach” defined in ASC 280, Segment Reporting. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of our reportable segments.

The table below presents the results of operations for our reporting segments for the periods presented.

	Three Months Ended June 30,									Three Months Ended June 30,									Six Months Ended June 30,								Six Months Ended June 30,
	2022			2022			2022			2021			2021			2021			2022		2022			2022			2021			2021			2021
(Amounts in 000’s)	Real Estate Services			Healthcare Services			Total			Real Estate Services			Healthcare Services			Total			Real Estate Services		Healthcare Services			Total			Real Estate Services			Healthcare Services			Total
Revenues:
Patient care revenues	$	—		$	4,570		$	4,570		$	—		$	2,445		$	2,445		$	—	$	6,881		$	6,881		$	—		$	5,135		$	5,135
Rental revenues		3,261			—			3,261			3,763			—			3,763			7,326		—			7,326			7,844			—			7,844
Management fees		255			—			255			247			—			247			519		—			519			495			—			495
Other revenues		7			—			7			13			—			13			14		—			14			75			—			75
Total revenues		3,523			4,570			8,093			4,023			2,445			6,468			7,859		6,881			14,740			8,414			5,135			13,549
Expenses:
Patient care expense		—			4,222			4,222			—			2,255			2,255			—		6,564			6,564			—			4,457			4,457
Facility rent expense		1,106			528			1,634			1,342			297			1,639			2,448		826			3,274			2,684			595			3,279
Cost of management fees		144			—			144			150			—			150			319		—			319			315			—			315
Depreciation and amortization		599			7			606			649			3			652			1,206		13			1,219			1,297			5			1,302
General and administrative expense		679			242			921			830			122			952			1,685		369			2,054			1,736			259			1,995
Doubtful accounts expense		466			—			466			—			37			37			2,227		—			2,227			—			77			77
Other operating expenses		337			292			629			293			4			297			636		332			968			532			4			536
Total expenses		3,331			5,291			8,622			3,264			2,718			5,982			—		8,104			16,625			6,564			5,397			11,961
Income (loss) from operations		192			(721	)		(529	)		759			(273	)		486			7,859		(1,223	)		(1,885	)		1,850			(262	)		1,588
Other expense:
Interest expense, net		636			3			639			663			3			666			1,266		25			1,291			1,344			9			1,353
Other expense, net		157			—			157			323			—			323			1,076		—			1,076			717			—			717
Total other expense, net		793			3			796			986			3			989			2,342		25			2,367			2,061			9			2,070
Net loss	$	(601	)	$	(724	)	$	(1,325	)	$	(227	)	$	(276	)	$	(503	)	$	5,517	$	(1,248	)	$	(4,252	)	$	(211	)	$	(271	)	$	(482	)

Total assets for the Real Estate Services segment and Healthcare Services segment were $95.5 million and $4.2 million, respectively as of June 30, 2022. Total assets for the Real Estate Services segment and Healthcare Services segment were $102.6 million and $3.0 million, respectively as of December 31, 2021. The Healthcare Services segment includes the $1.5 million Medicaid overpayment and is recorded in Cash on the Company’s consolidated balance sheet in both periods.