Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Gain (Loss) on Securities

The components comprising total gains and losses on equity securities are as follows (in thousands) for the periods listed below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Total (losses) gains recognized on equity securities	$	(4,331)	$	83,769	$	(14,886)	$	83,769
Gains recognized on equity securities sold	2,272		—		2,272		—
Unrealized gains (losses) recognized on equity securities held at end of period	$	(2,059)	$	83,769	$	(12,614)	$	83,769

Schedule of Disaggregated Revenue by Each Payor Type

The following table presents disaggregated revenue generated by payor type for the three months ended June 30, 2022 and 2021 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial	$	42,014	$	33,296	$	84,167	$	65,562
Medicare	142,641		64,273		276,299		128,950
Medicaid	70,635		68,482		142,299		138,146
Other third parties	14,407		9,587		30,189		19,038
Revenue	$	269,697	$	175,638	$	532,954	$	351,696

Schedule of Contributions to Revenue and Receivables by Payor

The Company had major payors that contributed the following percentages of net revenue:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Payor A	*		12.5	%	*		12.6	%
Payor B	*		10.3	%	*		10.4	%
Payor C	10.3	%	16.7	%	10.5	%	16.8	%
Payor D	31.0	%	*		30.7	%	*

*    Less than 10% of total net revenues

The Company had major payors that contributed to the following percentages of receivables and receivables – related parties:

	As of June 30, 2022		As of December 31, 2021
Payor D	25.0	%	*
Payor E	28.0	%	45.0	%
Payor F	19.0	%	30.0	%

*    Less than 10% of total receivables and receivables — related parties, net

Schedule of Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of June 30, 2022, are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market funds*	$	70,053	$	—	$	—	$	70,053
Marketable securities – certificates of deposit	25,086		—		—		25,086
Marketable securities – equity securities	14,404		—		—		14,404
Contingent equity securities	—		—		3,225		3,225
Interest rate swaps	—		1,759		—		1,759
Total assets	$	109,543	$	1,759	$	3,225	$	114,527
Liabilities
APCMG contingent consideration	—		—		1,000		1,000
Total liabilities	$	—	$	—	$	1,000	$	1,000

*    Included in cash and cash equivalents

The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2021, are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market accounts*	$	114,665	$	—	$	—	$	114,665
Marketable securities – certificates of deposit	25,024		—		—		25,024
Marketable securities – equity securities	24,123		4,270		—		28,393
Contingent equity securities	—		—		4,270		4,270
Warrants	—		1,145		—		1,145
Total assets	$	163,812	$	5,415	$	4,270	$	173,497
Liabilities
Interest rate swaps	$	—	$	1,071	$	—	$	1,071
APCMG contingent consideration	$	—	$	—	$	1,000	$	1,000
Total liabilities	$	—	$	1,071	$	1,000	$	2,071

*    Included in cash and cash equivalents