| Schedule of Disaggregation of Revenue |
The following table
represents a disaggregation of revenue for the years ended December 31, 2019 and 2018:
| |
|
Year Ended
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Healthcare IT: |
|
|
|
|
|
|
|
|
| Revenue cycle management services |
|
$ |
42,919,944 |
|
|
$ |
38,559,180 |
|
| Professional services |
|
|
1,769,129 |
|
|
|
1,244,894 |
|
| Ancillary services |
|
|
3,220,372 |
|
|
|
1,594,364 |
|
| Group purchasing services |
|
|
1,020,031 |
|
|
|
654,805 |
|
| Printing and mailing services |
|
|
1,650,069 |
|
|
|
1,344,011 |
|
| Clearinghouse and EDI services |
|
|
591,963 |
|
|
|
647,446 |
|
| Practice Management: |
|
|
|
|
|
|
|
|
| Practice management services |
|
|
13,267,086 |
|
|
|
6,501,081 |
|
| Total |
|
$ |
64,438,594 |
|
|
$ |
50,545,781 |
|
|
| Schedule of Accounts Receivable, Contract Asset and Deferred Revenue |
The opening and closing balances of the Company’s
accounts receivable, contract asset and deferred revenue are as follows:
| |
|
Accounts Receivable,
Net |
|
|
Contract
Asset |
|
|
Deferred
Revenue
(current) |
|
|
Deferred Revenue
(long term) |
|
| Balance as of January 1, 2018 |
|
$ |
3,879,463 |
|
|
$ |
1,342,692 |
|
|
$ |
62,104 |
|
|
$ |
28,615 |
|
| Orion acquisition |
|
|
5,654,919 |
|
|
|
861,341 |
|
|
|
- |
|
|
|
- |
|
| (Decrease) increase, net |
|
|
(2,202,908 |
) |
|
|
404,598 |
|
|
|
(36,749 |
) |
|
|
(9,666 |
) |
| Balance as of December 31, 2018 |
|
$ |
7,331,474 |
|
|
$ |
2,608,631 |
|
|
$ |
25,355 |
|
|
$ |
18,949 |
|
| Balance as of January 1, 2019 |
|
$ |
7,331,474 |
|
|
$ |
2,608,631 |
|
|
$ |
25,355 |
|
|
$ |
18,949 |
|
| ETM acquisition |
|
|
- |
|
|
|
139,169 |
|
|
|
- |
|
|
|
- |
|
| Decrease, net |
|
|
(336,131 |
) |
|
|
(362,466 |
) |
|
|
(5,078 |
) |
|
|
(204 |
) |
| Balance as of December 31, 2019 |
|
$ |
6,995,343 |
|
|
$ |
2,385,334 |
|
|
$ |
20,277 |
|
|
$ |
18,745 |
|
|