Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

v3.20.2
Revenue (Tables)
6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue

The following table represents a disaggregation of revenue for the three and six months ended June 30:

 

    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2020     2019     2020     2019  
Healthcare IT:                                
Revenue cycle management services   $ 11,364,851     $ 11,366,628     $ 24,554,814     $ 21,883,468  
SaaS solutions     3,757,078       66,055       7,370,592       106,657  
Professional services     397,547       383,336       788,975       718,771  
Ancillary services     831,244       930,181       1,552,606       1,429,277  
Group purchasing services     189,456       205,066       366,008       405,113  
Printing and mailing services     323,827       358,440       752,705       750,100  
Clearinghouse and EDI services     262,207       150,869       581,374       286,933  
Practice Management:                                
Practice management services     2,452,580       3,288,924       5,478,884       6,249,391  
Total   $ 19,578,790     $ 16,749,499     $ 41,445,958     $ 31,829,710  
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 for the six months ended June 30, 2020 and 2019:

 

    Accounts
Receivable,
Net
    Contract
Asset
    Deferred
Revenue
(current)
   

Deferred

Revenue
(long term)

 
Balance as of January 1, 2020   $ 6,995,343     $ 2,385,334     $ 20,277     $ 18,745  
CareCloud acquisition     2,298,716       537,722       -       269,250  
Meridian acquisition     3,800,037       881,111       907,077       -  
(Decrease) increase, net     (1,888,242 )     (376,335 )     82,207       (81,274 )
Balance as of June 30, 2020   $ 11,205,854     $ 3,427,832     $ 1,009,561     $ 206,721  
Balance as of January 1, 2019   $ 7,331,474     $ 2,608,631     $ 25,355     $ 18,949  
ETM acquisition     -       139,169       -       -  
Increase (decrease), net     187,466       (274,129 )     (9,130 )     (589 )
Balance as of June 30, 2019   $ 7,518,940     $ 2,473,671     $ 16,225     $ 18,360