Revenue Recognition

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The following table presents the Company’s revenues disaggregated by source:

	For the Years Ended December 31,
(Dollars in Thousands)	2022		2021		2020
FFS-patient care	$	869,165	$	772,482	$	647,314
FFS-administrative services	94,929		68,805		58,278
Capitated revenue	218,463		—		—
Shared savings	132,615		83,016		66,414
Care management fees (PMPM)	35,541		36,503		26,766
Other revenue	5,947		5,414		18,303
Total Revenue	$	1,356,660	$	966,220	$	817,075

Fee-for-service (“FFS”) patient care is primarily generated from third-party payers with which the Company has established contractual billing arrangements. The following table presents the approximate percentages by source of net revenue received for healthcare services the Company provided for the periods indicated:

	For the Years Ended December 31,
	2022		2021		2020
Commercial insurers	70	%	69	%	69	%
Government payers	16	%	17	%	17	%
Patient	14	%	14	%	14	%
	100	%	100	%	100	%

FFS-administrative services revenue is earned through the Company’s MSA with Non-Owned Medical Groups primarily based on a fixed percentage of net collections on patient care generated by those medical groups.

VBC revenue is primarily earned through contracts for Capitated revenue, Shared savings and Care management fees. Capitated revenue is generated through what is typically known as an “at-risk contract.” At-risk capitation refers to a model in which the Company receives a fixed monthly payment from the third-party payer in exchange for providing healthcare services to attributed beneficiaries. The Company is responsible for providing or paying for the cost of healthcare services required by those attributed beneficiaries for a set of services. At-risk Capitated revenue is recorded at the total amount gross in revenues because the Company is acting as a principal in arranging for, providing, and controlling the managed healthcare services provided to the attributed lives. Shared savings revenue and Care management fees are generated through contracts with large commercial payer organizations and the U.S. Federal Government.

Contract Asset

The Company has the following contract assets:

(Dollars in Thousands)	December 31, 2022		December 31, 2021
Balances for contracts with customers
Accounts receivable	$	189,604	$	117,402

Remaining Performance Obligations

The Company does not disclose the value of the remaining performance obligations at the end of the reporting period or when the Company expects to recognize revenue. The Company has minimal unsatisfied performance obligations at the end of the reporting period as the Company’s patients typically are under no obligation to continue receiving services at the Company’s facilities.