Schedule of Finite-Lived Intangible Assets |
Definite-lived intangible assets represent the estimated fair value of intangible assets acquired. Amortization is calculated using the straight-line method over the estimated useful lives of the intangible assets which are as follows: | | | | | | Trade names | 20 years | Consumer customer relationships | 10 years | FFS customer relationships | 24 years | Management Service Agreement (Complete MD) | 16 years | Physician network | 15 years | Payer contracts | 21 years | Management Service Agreement (BPMC) | 21 years |
A summary of the Company’s intangible assets is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | December 31, 2021 | (Dollars in thousands) | Intangible Assets | | Accumulated Amortization | | Intangible Assets | | Accumulated Amortization | Trade names | $ | 4,600 | | | $ | 1,917 | | | $ | 4,600 | | | $ | 1,689 | | Consumer customer relationships | 2,500 | | | 2,083 | | | 2,500 | | | 1,835 | | PMG customer relationships | 600 | | | 208 | | | 600 | | | 184 | | Management Service Agreement (Complete MD) | 2,200 | | | 997 | | | 2,200 | | | 860 | | Physician network | 1,520 | | | 127 | | | 1,520 | | | 26 | | Payer contracts | 2,750 | | | 164 | | | 2,750 | | | 33 | | Management Service Agreement (BPMC) | 51,800 | | | 3,087 | | | 50,800 | | | 605 | | | 65,970 | | | $ | 8,583 | | | 64,970 | | | $ | 5,232 | | Less accumulated amortization | (8,583) | | | | | (5,232) | | | | Intangible assets, net | $ | 57,387 | | | | | $ | 59,738 | | | |
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Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for the Company’s intangible assets for the following five years is as follows: | | | | | | | (Dollars in Thousands) | 2023 | $ | 3,341 | | 2024 | 3,258 | | 2025 | 3,091 | | 2026 | 3,091 | | 2027 | 3,091 | | Thereafter | 41,515 | | Total | $ | 57,387 | |
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