| 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 |
|
|