REVENUE RECOGNITION

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGITION

REVENUE RECOGNITION

    DIS

    Net revenues in the Company’s DIS business accounted for over 95% of the Company’s total net revenues for the three months ended March 31, 2024 and 2023 and are primarily comprised of a high volume of relatively low-dollar transactions. The DIS business, which provides clinical testing services and other services, satisfies its performance obligations and recognizes revenues primarily upon completion of the testing process (when results are reported) or when services have been rendered. The Company estimates the amount of consideration it expects to be entitled to receive from payer customer groups in exchange for providing services using the portfolio approach. These estimates include the impact of contractual allowances (including payer denials), and patient price concessions. The portfolios determined using the portfolio approach consist of the following groups of payer customers: healthcare insurers, government payers (Medicare and Medicaid programs), client payers and patients.

    For further details regarding revenue recognition in the Company's DIS business, see Note 3 to the audited consolidated financial statements in the Company's 2023 Annual Report on Form 10-K.

    DS

    The Company’s DS businesses primarily satisfy their performance obligations and recognize revenues when delivery has occurred or services have been rendered.

    Net Revenue and Net Accounts Receivable by Payer Customer Type

    The approximate percentage of net revenue by type of payer customer was as follows:

    

	Three Months Ended March 31,
	2024		2023
Healthcare insurers:
Fee-for-service	37	%	37	%
Capitated	3		3
Total healthcare insurers	40		40
Government payers	12		12
Client payers	33		33
Patients (including coinsurance and deductible responsibilities)	12		12
Total DIS	97		97
DS	3		3
Net revenues	100	%	100	%

    The approximate percentage of net accounts receivable by type of payer customer was as follows:

	March 31, 2024		December 31, 2023
Healthcare Insurers	28	%	24	%
Government Payers	7		7
Client Payers	40		45
Patients (including coinsurance and deductible responsibilities)	21		20
Total DIS	96		96
DS	4		4
Net accounts receivable	100	%	100	%