| Schedule of Disaggregation of Revenue |
The following table represents a disaggregation of revenue
for the three months ended March 31:
| |
|
Three Months Ended
March 31,
|
|
| |
|
2020 |
|
|
2019 |
|
| Healthcare IT: |
|
|
|
|
|
|
|
|
| Revenue cycle management services |
|
$ |
13,189,963 |
|
|
$ |
10,516,840 |
|
| SaaS solutions |
|
|
3,613,514 |
|
|
|
40,602 |
|
| Professional services |
|
|
391,428 |
|
|
|
335,435 |
|
| Ancillary services |
|
|
721,366 |
|
|
|
499,096 |
|
| Group purchasing services |
|
|
176,552 |
|
|
|
200,047 |
|
| Printing and mailing services |
|
|
428,875 |
|
|
|
391,660 |
|
| Clearinghouse and EDI services |
|
|
319,167 |
|
|
|
136,064 |
|
| Practice Management: |
|
|
|
|
|
|
|
|
| Practice management services |
|
|
3,026,304 |
|
|
|
2,960,467 |
|
| Total |
|
$ |
21,867,169 |
|
|
$ |
15,080,211 |
|
|
| 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 three months ended March 31, 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 |
|
| Increase (Decrease), net |
|
|
21,352 |
|
|
|
(38,319 |
) |
|
|
3,510 |
|
|
|
(92,206 |
) |
| Balance as of March 31, 2020 |
|
$ |
9,315,411 |
|
|
$ |
2,884,737 |
|
|
$ |
23,787 |
|
|
$ |
195,789 |
|
| Balance as of January 1, 2019 |
|
$ |
7,331,474 |
|
|
$ |
2,608,631 |
|
|
$ |
25,355 |
|
|
$ |
18,949 |
|
| Increase (Decrease), net |
|
|
476,393 |
|
|
|
(252,317 |
) |
|
|
(4,001 |
) |
|
|
266 |
|
| Balance as of March 31, 2019 |
|
$ |
7,807,867 |
|
|
$ |
2,356,314 |
|
|
$ |
21,354 |
|
|
$ |
19,215 |
|
|