| Schedule of Disaggregation of Revenue |
The following table
represents a disaggregation of revenue for the three and nine months ended September 30:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Healthcare IT: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue cycle management services |
|
$ |
20,372,558 |
|
|
$ |
10,715,358 |
|
|
$ |
44,927,372 |
|
|
$ |
32,598,825 |
|
| SaaS solutions |
|
|
3,945,309 |
|
|
|
93,080 |
|
|
|
11,315,904 |
|
|
|
199,738 |
|
| Professional services |
|
|
489,093 |
|
|
|
376,189 |
|
|
|
1,278,067 |
|
|
|
1,094,960 |
|
| Ancillary services |
|
|
2,414,832 |
|
|
|
873,841 |
|
|
|
3,967,438 |
|
|
|
2,303,118 |
|
| Group purchasing services |
|
|
283,075 |
|
|
|
295,850 |
|
|
|
649,083 |
|
|
|
700,963 |
|
| Printing and mailing services |
|
|
340,783 |
|
|
|
436,735 |
|
|
|
1,093,487 |
|
|
|
1,186,834 |
|
| Clearinghouse and EDI services |
|
|
345,407 |
|
|
|
146,989 |
|
|
|
926,782 |
|
|
|
433,923 |
|
| Practice Management: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Practice management services |
|
|
3,447,559 |
|
|
|
3,913,286 |
|
|
|
8,926,442 |
|
|
|
10,162,677 |
|
| Total |
|
$ |
31,638,616 |
|
|
$ |
16,851,328 |
|
|
$ |
73,084,575 |
|
|
$ |
48,681,038 |
|
|
| 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 nine months ended September 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 |
|
|
3,557,926 |
|
|
|
881,111 |
|
|
|
907,077 |
|
|
|
- |
|
| Increase (decrease), net |
|
|
913,316 |
|
|
|
274,149 |
|
|
|
287,807 |
|
|
|
(127,988 |
) |
| Balance as of September 30, 2020 |
|
$ |
13,765,301 |
|
|
$ |
4,078,316 |
|
|
$ |
1,215,161 |
|
|
$ |
160,007 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance as of January 1, 2019 |
|
$ |
7,331,474 |
|
|
$ |
2,608,631 |
|
|
$ |
25,355 |
|
|
$ |
18,949 |
|
| Etransmedia acquisition |
|
|
- |
|
|
|
139,169 |
|
|
|
- |
|
|
|
- |
|
| Increase (decrease), net |
|
|
568,604 |
|
|
|
(51,607 |
) |
|
|
(8,916 |
) |
|
|
(2,641 |
) |
| Balance as of September 30, 2019 |
|
$ |
7,900,078 |
|
|
$ |
2,696,193 |
|
|
$ |
16,439 |
|
|
$ |
16,308 |
|
|