REVENUE RECOGNITION AND RECEIVABLES

The Company's revenue is derived from providing quality healthcare services to its patients. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these services. The promise to provide quality care is accounted for as a single performance obligation satisfied at a point in time, when those services are rendered.

The Company performed analyses using the application of the portfolio approach as a practical expedient to group patient contracts with similar characteristics, such that revenue for a given portfolio would not be materially different than if it were evaluated on a contract-by-contract basis. These analyses incorporated consideration of reimbursements at varying rates from Medicaid, Medicare, Managed Care, Private Pay, Assisted Living, Hospice, and Veterans for services provided in each corresponding state. It was determined that the contracts are not materially different for the following groups: Medicaid, Medicare, Managed Care and Private Pay and other (Assisted Living, Hospice and Veterans).

Disaggregation of Revenue and Accounts Receivable

The following table set forth net patient revenues related to our continuing operations by payor source for the periods presented (dollar amounts in thousands): The amounts as reported for revenue in 2019 and 2018 differ from the method of accounting in prior years due to the implementation of ASC 606.



	Twelve Months Ended December 31,
	2019				2018				2017
	As reported				As reported				As reported
Medicaid	$	222,560	46.9	%	$	215,924	45.4	%	$	249,204	51.6	%
Medicare	80,798		17.0	%	84,959		17.8	%	122,043		25.3	%
Managed Care	50,323		10.6	%	48,879		10.3	%	39,162		8.1	%
Private Pay and other	121,339		25.5	%	126,360		26.5	%	72,402		15.0	%
Total	$	475,020	100.0	%	$	476,122	100.0	%	$	482,811	100.0	%

Accounts receivable as of December 31, 2019 and 2018 is summarized in the following table:



	December 31,
	2019		2018

Medicaid	$	21,998	$	27,532
Medicare	11,811		15,706
Managed Care	9,103		8,126
Private Pay and other	17,609		14,893
Total accounts receivable	$	60,521	$	66,257