Accounts Receivable

9 Months Ended

Sep. 30, 2024

The Company’s accounts receivable consist primarily of amounts due from third-party payors and patients. See Note 2 for a summary of the Company’s policies relating to accounts receivable and allowance for credit losses.

Accounts Receivable as of September 30, 2024 and December 31, 2023 consist of the following:


(in thousands)	September 30, 2024		December 31, 2023
Oral drug accounts receivable (Dispensary)	$	9,222	$	2,914
Capitated accounts receivable (Patient Services)	5,652		1,757
FFS accounts receivable (Patient Services)	29,921		30,173
Clinical trials accounts receivable	2,309		2,595
Other trade receivables	7,398		4,921
Total	$	54,502	$	42,360

The Company adopted ASU 2016-13, as amended, effective January 1, 2023, and determined no allowance for credit losses was required as of that date. No allowance for credit losses was recorded as of September 30, 2024 and December 31, 2023.

As of January 1, 2023, the accounts receivable balance amounted to $39,816.

During the three and nine months ended September 30, 2024, the Company had no net bad debt recoveries or bad debt expense. During the three and nine months ended September 30, 2023, credit losses related to direct write-offs totaled $31 and $42, respectively. Credit losses were a result of accounts receivable on completed contracts that were deemed uncollectible during the period. During the three and nine months ended September 30, 2023, the Company had recoveries of credit losses of $0 and $11, respectively