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

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Total (losses) gains recognized on equity securities	$	(6,251)	$	62,000	$	(21,138)	$	21,781
Gains recognized on equity securities sold	—		—		2,272		—
Unrealized gains (losses) recognized on equity securities held at end of period	$	(6,251)	$	62,000	$	(18,866)	$	21,781

Schedule of Disaggregated Revenue by Each Payor Type

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Commercial	$	41,774	$	36,960	$	125,938	$	102,522
Medicare	188,416		103,919		469,797		232,869
Medicaid	72,054		74,262		209,277		212,408
Other third parties	14,757		11,976		44,943		31,016
Revenue	$	317,001	$	227,117	$	849,955	$	578,815

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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Payor A	*		13.8	%	*		13.1	%
Payor B	*		*		*		10.1	%
Payor C	*		13.3	%	10.0	%	15.4	%
Payor D	40.1	%	17.1	%	34.2	%	12.1	%

*    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 September 30, 2022		As of December 31, 2021
Payor D	38.0	%	*
Payor E	25.0	%	45.0	%
Payor F	17.0	%	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 September 30, 2022, are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market funds*	$	50,987	$	—	$	—	$	50,987
Marketable securities – certificates of deposit	25,128		—		—		25,128
Marketable securities – equity securities	8,153		—		—		8,153
Contingent equity securities	—		—		1,500		1,500
Interest rate swaps	—		3,231		—		3,231
Total assets	$	84,268	$	3,231	$	1,500	$	88,999
Liabilities
APCMG contingent consideration	—		—		500		500
Total liabilities	$	—	$	—	$	500	$	500

*    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