Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

v3.20.2
Revenue (Tables)
9 Months Ended
Sep. 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 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