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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of Service Fee Revenue
Our total net revenues for the years ended December 31, 2020, 2019, and 2018 are presented in the table below (in thousands):
 
 202020192018
Commercial insurance$584,035 $642,341 $542,011 
Medicare217,928 237,427 192,881 
Medicaid25,619 28,283 25,615 
Workers' compensation/personal injury33,478 42,792 34,193 
Other patient revenue25,314 23,862 25,117 
Management fee revenue11,253 11,659 13,882 
Imaging on call and software10,798 17,317 16,261 
Other23,297 24,555 18,781 
Service fee revenue931,722 1,028,236 868,741 
Revenue under capitation arrangements140,118 125,943 106,405 
Total revenue$1,071,840 $1,154,179 $975,146 
Schedule of Effect of Derivative Instruments on Comprehensive Income
A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive (loss) income, net of taxes is as follows (amounts in thousands):
Interest Rate Contracts
  
For the twelve months endedAmount of Gain (Loss) Recognized on Derivative, net of taxesLocation of Gain (Loss) Recognized
in Income on Derivative
December 31, 2020$788Other Comprehensive Income
December 31, 2019(4,383)Other Comprehensive Loss
December 31, 20182,876Other Comprehensive Income
A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2019 swaps which remain ineffective is as follows (amounts in thousands):
Interest Rate Contracts - Effective Portion
  
For the twelve months endedAmount of Loss Recognized on Derivative, net of taxesLocation of Loss Recognized
in Income on Derivative
December 31, 2020$(20,160)Other Comprehensive Loss
December 31, 2019$(5,870)Other Comprehensive Loss

A tabular presentation of the effect of derivative instruments on our statement of operations of the 2019 Swaps for the Swaps that became ineffective in 2020 is as follows (amounts in thousands):
Interest Rate Contracts - Ineffective Portion
  
For the twelve months endedAmount of loss recognized in income on derivative (current period ineffective portion)Location of loss recognized in Income on derivative (current period ineffective portion)Amount of loss reclassified from accumulated OCI into income (prior period effective portion)Location of loss reclassified from accumulated OCI into income (prior period effective portion)
December 31, 2020$(2,528)Other Income (Expense)$(3,448)Equity and Interest Expense
Schedule of Fair Value of Assets and Liabilities
The table below summarizes the estimated fair values of certain of our financial assets that are subject to fair value measurements, and the classification of these assets in our consolidated balance sheets, as follows (in thousands):
As of December 31, 2020
Level 1Level 2Level 3Total
Current and long term liabilities    
2016 CAPS - Interest Rate Contracts$— $— $— $— 
2019 SWAPS - Interest Rate Contracts$— $37,989 $— $37,989 
 
As of December 31, 2019
Level 1Level 2Level 3Total
Current and long term liabilities    
2016 CAPS - Interest Rate Contracts$— $1,081 $— $1,081 
2019 SWAPS - Interest Rate Contracts$— $9,477 $— $9,477 
The table below summarizes the estimated fair value and carrying amount of our SunTrust (Term Loan Agreement) and Barclays (First Lien Term Loans) long-term debt as follows (in thousands):
 
 As of December 31, 2020
 Level 1Level 2Level 3Total Fair ValueTotal Face Value
Term Loan Agreement and First Lien Term Loans$— $661,640 $— $661,640 $662,403 
 
 As of December 31, 2019
 Level 1Level 2Level 3Total Fair ValueTotal Face Value
Term Loan Agreement and First Lien Term Loans$— $708,948 $— $708,948 $705,699 
Schedule of Earnings Per Share Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data):
 
 Years Ended December 31,
 202020192018
Net (loss) income attributable to RadNet, Inc. common stockholders$(14,840)$14,756 $32,243 
BASIC NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period50,891,791 49,674,858 48,114,275 
Basic net (loss) income per share attributable to RadNet, Inc. common stockholders$(0.29)$0.30 $0.67 
DILUTED NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period50,891,791 49,674,858 48,114,275 
Add nonvested restricted stock subject only to service vesting— 208,963 180,631 
Add additional shares issuable upon exercise of stock options and warrants— 360,185 384,093 
Weighted average number of common shares used in calculating diluted net income per share50,891,791 50,244,006 48,678,999 
Diluted net (loss) income per share attributable to RadNet, Inc. common stockholders$(0.29)$0.29 $0.66 
Stock options and non-vested restricted awards excluded from the computation of diluted per share amounts as their effect would be antidilutive:
Nonvested restricted stock subject to service vesting329,159 — — 
Shares issuable upon the exercise of stock options554,444 — — 
Schedule of Investment in Joint Ventures
The following table is a summary of our investment in joint ventures during the years ended December 31, 2020 and December 31, 2019 (in thousands):
 
Balance as of December 31, 2018$37,973 
Equity contributions in existing and purchase of interest in joint ventures103 
Equity in earnings in these joint ventures8,350 
Sale of ownership interest(134)
Dissolution of GSRN(1,428)
Nulogix return of capital(792)
Nulogix change in control(1,004)
Distribution of earnings(8,598)
Balance as of December 31, 2019$34,470 
Equity contributions in existing and purchase of interest in joint ventures1,635 
Equity in earnings in these joint ventures7,945 
Distribution of earnings(9,522)
Balance as of December 31, 2020$34,528 
Joint Venture Investment and Financial Information
The following table is a summary of key unaudited financial data for these joint ventures as of December 31, 2020 and 2019, respectively, and for the years ended December 31, 2020, 2019 and 2018, respectively, (in thousands):
December 31,
Balance Sheet Data:December 31, 20202019
Current assets$27,085 $27,427 
Noncurrent assets68,686 61,037 
Current liabilities(12,545)(9,217)
Noncurrent liabilities(21,582)(18,872)
Total net assets$61,644 $60,375 
Book value of RadNet joint venture interests$28,079 $28,001 
Cost in excess of book value of acquired joint venture interests accounted for as equity method goodwill6,449 6,469 
Total value of RadNet joint venture interests$34,528 $34,470 
  
 202020192018
Net revenue$101,921 $108,051 $155,820 
Net income$16,850 $18,624 $24,596