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10-K
2020 FY
PRPO Precipio Inc
29 Mar 21
Annual report
4:29pm
We are reimbursed by payers for services we provide. Payments for services covered by payers average less than billed charges. We monitor revenue and receivables from payers and record an estimated contractual allowance for certain revenue and receivable balances as of the revenue recognition date to properly account for anticipated differences between amounts estimated in our billing system and amounts ultimately reimbursed by payers. Accordingly, the total revenue and receivables reported in our consolidated financial statements are recorded at the amounts expected to be received from these payers. For service revenue, the contractual allowance is estimated based on several criteria, including unbilled claims, historical trends based on actual claims paid, current contract and reimbursement terms and changes in customer base and payer/product mix. The billing functions for the remaining portion of our revenue are contracted and fixed fees for specific services and are recorded without an allowance for contractual discounts. The following table presents our revenues initially recognized for each associated payer class during the years ended December 31, 2020 and 2019.
(dollars in thousands)Contractual Allowances andRevenues, net of Contractual
Gross RevenuesadjustmentsAllowances and adjustments
202020192020201920202019
Medicaid$53$31$$(3)$53$28
Medicare2,8821,686(17)2,8821,669
Self-pay41134(3)40834
Third party payers11,8915,785(8,449)(4,060)3,4421,725
Contract diagnostics426595426595
15,6638,131(8,452)(4,080)7,2114,051
Clinical research grants and other2204422044
$15,883$8,175$(8,452)$(4,080)$7,431$4,095
10-Q
2020 Q2
PRPO Precipio Inc
13 Aug 20
Quarterly report
3:07pm
We are reimbursed by payers for services we provide. Payments for services covered by payers average less than billed charges. We monitor revenue and receivables from payers and record an estimated contractual allowance for certain revenue and receivable balances as of the revenue recognition date to properly account for anticipated differences between amounts estimated in our billing system and amounts ultimately reimbursed by payers. Accordingly, the total revenue and receivables reported in our condensed consolidated financial statements are recorded at the amounts expected to be received from these payers. For service revenue, the contractual allowance is estimated based on several criteria, including unbilled claims, historical trends based on actual claims paid, current contract and reimbursement terms and changes in customer base and payer/product mix. The billing functions for the remaining portion of our revenue are contracted and fixed fees for specific services and are recorded without an allowance for contractual discounts. The following table presents our revenues initially recognized for each associated payer class during the three and six months ended June 30, 2020 and 2019.
For the Three Months Ended June 30,
(dollars in thousands)Contractual Allowances andRevenues, net of Contractual
Gross RevenuesadjustmentsAllowances and adjustments
202020192020201920202019
Medicaid$16$12$$(3)$16$9
Medicare643467(17)643450
Self-pay8911(3)8611
Third party payers2,9491,571(2,102)(1,120)847451
Contract diagnostics2427424274
3,7212,335(2,105)(1,140)1,6161,195
Clinical research grants and other294294
$3,750$2,339$(2,105)$(1,140)$1,645$1,199
10-Q
2020 Q1
PRPO Precipio Inc
14 May 20
Quarterly report
4:05pm
We are reimbursed by payers for services we provide. Payments for services covered by payers average less than billed charges. We monitor revenue and receivables from payers and record an estimated contractual allowance for certain revenue and receivable balances as of the revenue recognition date to properly account for anticipated differences between amounts estimated in our billing system and amounts ultimately reimbursed by payers. Accordingly, the total revenue and receivables reported in our condensed consolidated financial statements are recorded at the amounts expected to be received from these payers. For service revenue, the contractual allowance is estimated based on several criteria, including unbilled claims, historical trends based on actual claims paid, current contract and reimbursement terms and changes in customer base and payer/product mix. The billing functions for the remaining portion of our revenue are contracted and fixed fees for specific services and are recorded without an allowance for contractual discounts. The following table presents our revenues initially recognized for each associated payer class during the three months ended March 31, 2020 and 2019.
For the Three Months Ended March 31,
(dollars in thousands)Contractual Allowances andRevenues, net of Contractual
Gross RevenuesadjustmentsAllowances and adjustments
202020192020201920202019
Medicaid$9$3$$$9$3
Medicare524394524394
Self-pay504504
Third party payers1,8081,017(1,291)(661)517356
Contract diagnostics358153358153
2,7491,571(1,291)(661)1,458910
Clinical research grants and other247247
$2,773$1,578$(1,291)$(661)$1,482$917
10-K
2019 FY
PRPO Precipio Inc
27 Mar 20
Annual report
3:47pm
We are reimbursed by payers for services we provide. Payments for services covered by payers average less than billed charges. We monitor revenue and receivables from payers and record an estimated contractual allowance for certain revenue and receivable balances as of the revenue recognition date to properly account for anticipated differences between amounts estimated in our billing system and amounts ultimately reimbursed by payers. Accordingly, the total revenue and receivables reported in our consolidated financial statements are recorded at the amounts expected to be received from these payers. For service revenue, the contractual allowance is estimated based on several criteria, including unbilled claims, historical trends based on actual claims paid, current contract and reimbursement terms and changes in customer base and payer/product mix. The billing functions for the remaining portion of our revenue are contracted and fixed fees for specific services and are recorded without an allowance for contractual discounts. The following table presents our revenues initially recognized for each associated payer class during the year ended December 31, 2019 and 2018.
(dollars in thousands)For the Year Ended December 31,
Contractual Allowances andRevenues, net of Contractual
Gross RevenuesadjustmentsAllowances and adjustments
201920182019201820192018
Medicaid$31$86$(3)$(36)$28$50
Medicare1,6861,019(17)(19)1,6691,000
Self-pay3413834138
Third party payers5,7852,358(4,060)(1,398)1,725960
Contract diagnostics5951,1875951,187
8,1314,788(4,080)(1,453)4,0513,335
Clinical research grants and other4411344113
$8,175$4,901$(4,080)$(1,453)$4,095$3,448
10-Q
2019 Q3
PRPO Precipio Inc
13 Nov 19
Quarterly report
4:33pm
We are reimbursed by payers for services we provide. Payments for services covered by payers average less than billed charges. We monitor revenue and receivables from payers and record an estimated contractual allowance for certain revenue and receivable balances as of the revenue recognition date to properly account for anticipated differences between amounts estimated in our billing system and amounts ultimately reimbursed by payers. Accordingly, the total revenue and receivables reported in our condensed consolidated financial statements are recorded at the amounts expected to be received from these payers. For service revenue, the contractual allowance is estimated based on several criteria, including unbilled claims, historical trends based on actual claims paid, current contract and reimbursement terms and changes in customer base and payer/product mix. The billing functions for the remaining portion of our revenue are contracted and fixed fees for specific services and are recorded without an allowance for contractual discounts. The following table presents our revenues initially recognized for each associated payer class during the three and nine months ended September 30, 2019 and 2018.
For the Three Months Ended September 30,
(dollars in thousands)Contractual Allowances andRevenues, net of Contractual
Gross RevenuesadjustmentsAllowances and adjustments
201920182019201820192018
Medicaid$10$30$$(15)$10$15
Medicare373293(5)373288
Self-pay548548
Third party payers1,701713(1,211)(424)490289
Contract diagnostics142168142168
2,2311,252(1,211)(444)1,020808
Clinical research grants and other26152615
$2,257$1,267$(1,211)$(444)$1,046$823
10-Q
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9 Aug 19
Quarterly report
2:55pm
10-Q
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16 May 19
Quarterly report
4:02pm
10-K
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16 Apr 19
Annual report
5:20pm
10-Q
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21 May 18
Quarterly report
3:16pm
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