REVENUE RECOGNITION

6 Months Ended

Jun. 30, 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 and six months ended June 30, 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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Healthcare insurers:
Fee-for-service	36	%	37	%	36	%	37	%
Capitated	3		3		3		3
Total healthcare insurers	39		40		39		40
Government payers	11		12		12		12
Client payers	33		33		33		33
Patients (including coinsurance and deductible responsibilities)	14		12		13		12
Total DIS	97		97		97		97
DS	3		3		3		3
Net revenues	100	%	100	%	100	%	100	%

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

	June 30, 2024		December 31, 2023
Healthcare Insurers	26	%	24	%
Government Payers	7		7
Client Payers	42		45
Patients (including coinsurance and deductible responsibilities)	22		20
Total DIS	97		96
DS	3		4
Net accounts receivable	100	%	100	%