Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

v3.20.2
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Schedule of Revenues, Operating Expenses and Operating Income (Loss) by Reportable Segment

The following tables present revenues, operating expenses and operating (loss) income by reportable segment:

 

    Nine Months Ended September 30, 2020  
    Healthcare IT     Practice Management     Unallocated Corporate
Expenses		     Total  
Net revenue   $ 64,158,133     $ 8,926,442     $ -     $ 73,084,575  
Operating expenses:                                
Direct operating costs     39,073,783       6,768,005       -       45,841,788  
Selling and marketing     4,752,713       25,105       -       4,777,818  
General and administrative     11,067,480       1,492,865       4,616,248       17,176,593  
Research and development     6,846,014       -       -       6,846,014  
Change in contingent consideration     (500,000 )     -       -       (500,000 )
Depreciation and amortization     6,705,215       238,490       -       6,943,705  
Impairment and unoccupied lease charges     681,400       -       -       681,400  
Total operating expenses     68,626,605       8,524,465       4,616,248       81,767,318  
Operating (loss) income   $ (4,468,472 )   $ 401,977     $ (4,616,248 )   $ (8,682,743 )

 

    Three Months Ended September 30, 2020  
    Healthcare IT     Practice Management     Unallocated Corporate
Expenses		     Total  
Net revenue   $ 28,191,057     $ 3,447,559     $ -     $ 31,638,616  
Operating expenses:                                
Direct operating costs     17,147,137       2,571,244       -       19,718,381  
Selling and marketing     1,563,255       8,168       -       1,571,423  
General and administrative     4,173,350       468,172       1,549,486       6,191,008  
Research and development     2,366,560       -       -       2,366,560  
Change in contingent consideration     (500,000 )     -       -       (500,000 )
Depreciation and amortization     3,126,508       79,497       -       3,206,005  
Impairment and unoccupied lease charges     320,575       -       -       320,575  
Total operating expenses     28,197,385       3,127,081       1,549,486       32,873,952  
Operating (loss) income   $ (6,328 )   $ 320,478     $ (1,549,486 )   $ (1,235,336 )

 

    Nine Months Ended September 30, 2019  
    Healthcare IT     Practice Management     Unallocated Corporate
Expenses		     Total  
Net revenue   $ 38,518,361     $ 10,162,677     $ -     $ 48,681,038  
Operating expenses:                                
Direct operating costs     23,912,120       7,867,444       -       31,779,564  
Selling and marketing     1,065,750       25,774       -       1,091,524  
General and administrative     8,549,122       1,504,506       3,704,177       13,757,805  
Research and development     648,822       -       -       648,822  
Change in contingent consideration     (343,768 )     -       -       (343,768 )
Depreciation and amortization     2,170,204       236,907       -       2,407,111  
Restructuring and impairment charges     136,332       -       -       136,332  
Total operating expenses     36,138,582       9,634,631       3,704,177       49,477,390  
Operating income (loss)   $ 2,379,779     $ 528,046     $ (3,704,177 )   $ (796,352 )

 

    Three Months Ended September 30, 2019  
    Healthcare IT     Practice Management     Unallocated Corporate
Expenses		     Total  
Net revenue   $ 12,938,042     $ 3,913,286     $ -     $ 16,851,328  
Operating expenses:                                
Direct operating costs     7,508,208       3,027,421       -       10,535,629  
Selling and marketing     339,603       7,965       -       347,568  
General and administrative     2,791,573       548,746       1,111,656       4,451,975  
Research and development     175,758       -       -       175,758  
Change in contingent consideration     (279,565 )     -       -       (279,565 )
Depreciation and amortization     735,133       79,077       -       814,210  
Restructuring and impairment charges     136,332       -       -       136,332  
Total operating expenses     11,407,042       3,663,209       1,111,656       16,181,907  
Operating income (loss)   $ 1,531,000     $ 250,077     $ (1,111,656 )   $ 669,421