Class of Stock [Axis]
Class A Non-Voting Preferred Stock
Preferred Stock
Common Stock
Class B Members
Class C Common Stock
AccountsNotesLoansAndFinancingReceivableByReceivableType [Axis]
Gross Receivable
Allowance for Doubtful Accounts
Finite-Lived Intangible Assets by Major Class [Axis]
Capitalized software development costs
Patents and copyrights
Non-compete
Customer relationships
Preferred Stock Class A
Health Care Organization, Revenue Sources [Axis]
Other
Workers Compensation/Personal Injury
Medicare/Medicaid
Commercial Insurance / Managed Care
Statement, Operating Activities Segment [Axis]
Medical Equipment
Management Of Diagnostic Imaging Centers
Equity Components [Axis]
Paid-in Capital in Excess of Par Value
Accumulated Deficit
Treasury Stock
Noncontrolling Interests
Notes Receivable From Employee Stockholders
Statement [Table]
Statement [Line Items]
Entity Registrant Name
Entity Central Index Key
Document Type
Document Period End Date
Document Fiscal Year Focus
Current Fiscal Year End Date
Document Fiscal Period Focus
Amendment Flag
Entity File Number
Entity Incorporation State Country Code
Is Entity Interactive Data Current
Is Entity's Reporting Status Current?
Is Entity a Small Business
Entity Filer Category
Is Entity an Emerging Growth Company
Entity Common Stock, Shares Outstanding
Trading Symbol
Security Exchange Name
Security 12B Title
Entity Shell Company
Current Assets:
Cash and cash equivalents
Short term investments
Accounts receivable - net
Account receivable - related parties
Medical receivables -net
Management and other fees receivable -net
Management and other fees receivable - related medical practices -net
Inventories
Costs and estimated earnings in excess of billings on uncompleted contracts
Income taxes receivable
Prepaid expenses and other current assets
Total Current Assets
Accounts receivable
Income taxes receivable
Deferred income tax asset
Property and equipment - net
Right-of-use asset - net
Goodwill
Other intangible assets - net
Other assets
Total Assets
Current Liabilities:
Current portion of long-term debt and capital leases
Accounts payable
Other current liabilities
Unearned revenue on service contracts
Unearned revenue on service contracts - related parties
Lease liability - current portion
Customer deposits
Total Current Liabilities
Long-Term Liabilities:
Unearned revenue on service contracts
Deferred Income Tax Liability
Due to related party medical practices
Long-term debt and capital leases, less current portion
Lease liability - net of current portion
Other liabilities
Total Long-Term Liabilities
Total Liabilities
STOCKHOLDERS' EQUITY:
Preferred stock value
Common stock value
Paid-in capital in excess of par value
Accumulated deficit
Treasury stock, at cost
Total Fonar Corporation Stockholder Equity
Noncontrolling interests
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity
Preferred Stock, Par Value
Preferred Stock, Authorized
Preferred Stock, Issued
Preferred Stock, Outstanding
Common Stock, Par Value
Common Stock, Authorized
Common Stock, Issued
Common Stock, Outstanding
REVENUES
Patient fee revenue, net of contractual allowances and discounts
Product sales - net
Service and repair fees - net
Service and repair fees - related parties - net
Management and other fees - net
Management and other fees - related medical practices - net
Total Revenues - net
COSTS AND EXPENSES
Costs related to patient fee revenue
Costs related to product sales
Costs related to service and repair fees
Costs related to service and repair fees - related parties
Costs related to management and other fees
Costs related to management and other fees - related medical practices
Research and development
Selling, general and administrative
Total Costs and Expenses
INCOME
Income From Operations
Interest Expense
Investment Income
Other Income
Income Before Provision for Income Taxes and Noncontrolling Interests
Provision for Income Taxes
Net Income
Net Income - Noncontrolling Interests
Net Income - Controlling Interests
Basic Net Income Per Share
Diluted Net Income Per Share
Weighted Average Basic Shares Outstanding
Weighted Average Diluted Shares Outstanding
Balance - Beginning, Value
Issuance of common stock (value)
Net Income
Distributions - noncontrolling
Repayment of notes receivable
Income - Noncontrolling interests
Balance - Ending, Value
Statement of Cash Flows [Abstract]
Cash Flows from Operating Activities:
Net income
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
Amortization on right-of-use assets
Provision (Recovery) for bad debts
Deferred income tax - net
Stock issued for costs and expenses
(Increase) decrease in operating assets, net:
Accounts, medical and management fee receivable(s)
Notes receivable
Costs and estimated earnings in excess of billings on uncompleted contracts
Inventories
Prepaid expenses and other current assets
Other assets
Increase (decrease) in operating liabilities, net:
Accounts payable
Other current liabilities
Operating lease liabilities
Customer deposits
Other liabilities
Due to related party medical practices
Net cash provided by operating activities
Cash Flows from Investing Activities:
Purchases of property and equipment
Proceeds/(Purchase) of Short term investment
Cost of patents
Net cash used in investing activities
Cash Flows from Financing Activities:
Repayment of borrowings and capital lease obligations
Repayment of notes receivable from employee stockholders
Distributions to noncontrolling interests
Net cash used in financing activities
Net Increase (decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents - Beginning of Period
Cash and Cash Equivalents - End of Period
Accounting Policies [Abstract]
NOTE 1 - DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Receivables [Abstract]
NOTE 3 - ACCOUNTS RECEIVABLE. MEDICAL RECEIVABLES AND MANAGEMENT AND OTHER FEES RECEIVABLE (USD $)
Inventory Disclosure [Abstract]
NOTE 4 - INVENTORIES
Notes to Financial Statements
NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS
Goodwill and Intangible Assets Disclosure [Abstract]
NOTE 6 - OTHER INTANGIBLE ASSETS
Other Liabilities, Current [Abstract]
NOTE 7 - OTHER CURRENT LIABILITIES
Stockholders' Equity Attributable to Parent [Abstract]
NOTE 8 - STOCKHOLDERS EQUITY
Segment Reporting [Abstract]
NOTE 9 - SEGMENT AND RELATED INFORMATION
Supplemental Cash Flow Elements [Abstract]
NOTE 10 - SUPPLEMENTAL CASH FLOW INFORMATION
Commitments and Contingencies Disclosure [Abstract]
NOTE 11 - COMMITMENTS AND CONTINGENCIES
Income Tax Disclosure [Abstract]
NOTE 12 - INCOME TAXES
Subsequent Events [Abstract]
NOTE 13 - SUBSEQUENT EVENTS
Principles of Consolidation
Revenue
Earnings Per Share
Recent Accounting Pronouncements
Reclassifications
Earnings Per Share
Long-term operating lease liabilities
Receivables - Current - net
Receivables - Non Current - net
Patient fee revenue - net
Inventories
Information relating to uncompleted contracts
Other intangible assets - net
Other current liabilities
Segment information
Basic Numerator: Net income available to common stockholders
Basic Denominator: Weighted average shares outstanding
Basic income per common share
Shares included upon conversion of Class C Common to calculate a diluted EPS
Total Denominator for diluted earnings per share
Diluted income per common share
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
2020 (Three Months)
2021
2022
2023
2024
Thereafter
Present Value discount (5.5% weighted average)
Total lease liability
Receivable Type [Axis]
Accounts receivable
Accounts receivable - Related party
Medical Receivables
Management and other fees receivable
Management and other fees receivable from related medical practices ("PC's")
Receivables, Long-term Contracts or Programs [Abstract]
2021
2022
2023
2024
Total
Purchased parts, components and supplies
Work-in-process
Total inventories
Costs incurred on uncompleted contracts
Estimated earnings
Costs and estimated earnings on uncompleted contracts
Less: Billings to date
Total costs and estimated earnings in excess of billings on uncompleted contracts - net
Gross other intangible assets
Less: Accumulated amortization
Other intangible assets-net
Accrued salaries, commissions and payroll taxes
Litigation accruals
Sales tax payable
Legal and other professional fees
Accounting fees
Self-funded health insurance reserve
Accrued interest and penalty
Other
Other current liabilities
Operating Activities [Axis]
Net revenues from external customers
Inter-segment net revenues
(Loss) Income from operations
Depreciation and amortization
Capital expenditures
The ownership interest of Imperial Management Services after reorganization of newly expanded HDM (percent).
The ownership interest of Health Management Corporation of America after reorganization of newly expanded HDM (percent).
The ownership interest of the original investors of HDM after reorganization of newly expanded HDM (percent).
Shares included upon conversion of Class C Common to calculate a diluted EPS.
Material impact on Companys balance sheet from adoption of ASU 2016-02 regarding the present value of future operating lease payments.
Receivable from landlord for tenant improvements
Net revenues derived from no-fault and personal injury protection claims
Net revenues from management and other fees charged to related PCs
Amortization of intangible assets
Issuance of stock for goods and services, Value
Issuance of stock for goods and services, Shares
Interest paid
Income taxes paid
Current Receivable
Recorded tax obligations
Tax interest and penalties
Maximum limit for individual claims under stop-loss umbrella policy for health insurance
Income tax expense
Income tax component - current
Income tax component - deferred
Deferred tax assets
Deferred tax liability
Net operating loss (NOL) carryforwards available to offset future taxable income
New level of scans at managed centers in comparison to pre-COVID-19
Accounts receivable from service and repair fees of Related MRI scanner customers; net of allowances for doubtful accounts.
Accounts receivable - net - non current - from service and repair fees of non related MRI scanner customers; net of allowances for doubtful accounts.
Accounts receivable from service and repair fees of Related Party MRI scanner customers; net of allowances for doubtful accounts
Accounts receivable - net - Current from service and repair fees of Non Related MRI scanner customers; net of allowances for doubtful accounts.
Amount within current period that has been billed to customer.
Class A NonVoting Preferred Stock
Commercial Insurance Managed Care Member
Costs and estimated earnings on uncompleted contracts.
Costs And EstimatedEarningsOn Uncompleted Contracts And Customer Advances
Costs related to management and other fees - non related medical practices.
Costs related to management and other fees - related medical practices.
Costs related to Product sales-net revenue for MRI scanners, upgrades and supplies.
Costs incurred and are to service and repair costs related to the general maintenance of the Company's MRI installation base. This includes the costs of maintenance on client contracts - for non-related parties.
Costs incurred and are to service and repair costs related to the general maintenance of the Company's MRI installation base. This includes the costs of maintenance on client contracts - for related parties.
During the three months ended September 30, 2019, the Company recorded a current receivable of $950 from a landlord for tenant improvements.
Table of total customer advances
Estimated Earnings on uncompleted contracts.
Effective July 1, 2015, the Company restructured the corporate organization of the management of diagnostic imaging centers segment of our business. The reorganization was structured to more completely integrate the operations of Health Management Corporation of America and HDM. Imperial contributed all of its assets (which were utilized in the business of Health Management Corporation of America) to HDM and received a 24.2% interest in HDM. Health Management Corporation of America retained a direct ownership interest of 45.8% in HDM, and the original investors in HDM retained a 30.0% ownership interest in the newly expanded HDM. The entire management of diagnostic imaging centers business segment is now being conducted by HDM, operating under the name Health Management Company of America.
Current carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities (such as U.S. Federal, state and local tax authorities) representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Also called income tax refund receivable.
Management and other fees are revenues attributable to the Company's physician and diagnostic services management segment, HMCA. These revenues, from non-related professional corporations, substantially consist of fees from management agreements. Payment of the fees is dependent on collection by the PCs of fees from third party medical reimbursement organizations, principally insurance companies and health management organizations.
Management and other fees are revenues attributable to the Company's physician and diagnostic services management segment, HMCA. These revenues, from the related professional corporations, substantially consist of fees from management agreements. Payment of the fees is dependent on collection by the PCs of fees from third party medical reimbursement organizations, principally insurance companies and health management organizations.
Management and other fees receivable from MRI Centers owned by non-related parties - net of allowances for doubtful accounts.
Management of Diagnostic Imaging Centers - Member - Custom element
Management of, and other fees receivable from MRI Centers owned by related parties - net of allowances for doubtful accounts.
The Company maintains a self-funded health insurance program with a stop-loss umbrella policy with a third party insurer to limit the maximum potential liability for individual claims to $100,000 per person and for a maximum potential claim liability based on member enrollment. With respect to this program, the Company considers historical and projected medical utilization data when estimating its health insurance program liability and related expense.
Medical equipment - Member - Custom element
Medical receivable from management of specific centers - net of allowances for doubtful accounts.
Medicare Medicaid
Approximate per cent of the PC's net revenues derived from no-fault and personal injury protection claims.
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances.
Other Revenue Source
Effective July 1, 2015, the Company restructured the corporate organization of the management of diagnostic imaging centers segment of our business. The reorganization was structured to more completely integrate the operations of Health Management Corporation of America and HDM. Imperial contributed all of its assets (which were utilized in the business of Health Management Corporation of America) to HDM and received a 24.2% interest in HDM. Health Management Corporation of America retained a direct ownership interest of 45.8% in HDM, and the original investors in HDM retained a 30.0% ownership interest in the newly expanded HDM. The entire management of diagnostic imaging centers business segment is now being conducted by HDM, operating under the name Health Management Company of America.
Effective July 1, 2015, the Company restructured the corporate organization of the management of diagnostic imaging centers segment of our business. The reorganization was structured to more completely integrate the operations of Health Management Corporation of America and HDM. Imperial contributed all of its assets (which were utilized in the business of Health Management Corporation of America) to HDM and received a 24.2% interest in HDM. Health Management Corporation of America retained a direct ownership interest of 45.8% in HDM, and the original investors in HDM retained a 30.0% ownership interest in the newly expanded HDM. The entire management of diagnostic imaging centers business segment is now being conducted by HDM, operating under the name Health Management Company of America.
Patents and copyrights - Member - Custom elements
Preferred stock class A - Member - Custom element
Revenue derived from the sale of Fonar MRI scanners or upgrades.
Provision for bad debts used for calculationof cash flow statements.
Revenue derived from maintenance services provided under contracts or arrangements with non related parties.
Revenue derived from maintenance services provided under contracts or arrangements with clients for related parties - net
Amount of receivable reflecting the cost incurred on uncompleted contracts in excess of related billings, net of current billings in excess of costs and estimated earnings on uncompleted contracts
Amount of stockholders' equity including the portion attributable to noncontrolling interests, after the cumulative effect adjustment of a new accounting principle applied in the period of adoption.
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. For related parties.
Workers Compensation Personal Injury
Payments On Notes Receivable From Employee Stockholders
Included in Other current assets, as of March 31, 2020, is a $562 receivable from a landlord for tenant improvements.
During February 2016, FAS issued ASU 2016-02, Leases (Topic 842). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based upon the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Lease with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. The new guidance will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period and is applied retrospectively. The Company adopted this guidance on July 1, 2019, as required, electing to apply retrospectively at the period of adoption with practical expedients. The adoption of this guidance had a material impact on the Company’s balance sheet by virtue of including the present value of its future operating lease payments as a liability of $33.3 million and related right-to-use lease assets as of July 1, 2019.
Net revenues from management and other fees charged to the related PCs accounted for approximately 12.4% and 10.5% of the consolidated net revenues for the three months ended March 31, 2020 and 2019, respectively. Net revenues from management and other fees charged to the related PCs accounted for approximately 11.5% and 10.8% of the consolidated net revenues for the nine months ended March 31, 2020 and 2019, respectively.
The COVID-19 outbreak has caused the Company’s owned and managed sites to continue to decline after March 31, 2020 as a result of the intensification of the virus and the attendant quarantines and lockdowns. By the end of April 2020, the number of scans being preformed are only at approximately 50% of pre-COVID-19 levels. As the authorities begin to reassess the situation in May and June 2020, some quarantine and lockdown measures may be able to be lifted and following that it is uncertain whether or not our scanning levels can be expected to begin to return to pre-COVID-19 levels. We are unable to predict, how long the present COVID-19 pandemic will continue or when it will abate, or whether it will worsen.
Proceeds from sale of short term investments and cost of short term investments. Short term investments are available upon request by the Company.
Assets, Current
Income Taxes Receivable
Net Assets
Liabilities, Current
Deferred Revenue, Noncurrent
Liabilities, Noncurrent
Liabilities
Deferred Employee Stock Ownership Plan, Issuance of Shares or Sale of Treasury Shares
Stockholders' Equity Attributable to Parent
Liabilities and Equity
Revenues, Net of Interest Expense
Costs and Expenses
Income (Loss) from Continuing Operations before Interest Expense, Interest Income, Income Taxes, Noncontrolling Interests, Net
Interest Expense
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
Income Tax Expense (Benefit)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Payments of Ordinary Dividends, Noncontrolling Interest
Increase (Decrease) in Accounts Receivable
Increase (Decrease) in Receivables
Increase (Decrease) in Unbilled Receivables
Increase (Decrease) in Inventories
Increase (Decrease) in Prepaid Expense
Increase (Decrease) in Other Noncurrent Assets
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Other Current Liabilities
Increase (Decrease) in Customer Advances
Increase (Decrease) in Other Noncurrent Liabilities
Increase (Decrease) in Accounts Payable, Related Parties
Net Cash Provided by (Used in) Operating Activities
Payments to Acquire Property, Plant, and Equipment
Payments to Acquire Intangible Assets
Net Cash Provided by (Used in) Investing Activities
Repayments of Notes Payable
Net Cash Provided by (Used in) Financing Activities
Cash and Cash Equivalents, Period Increase (Decrease)
Cash and Cash Equivalents, at Carrying Value
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Schedule of Inventory, Current [Table Text Block]
Schedule of Intangible Assets and Goodwill [Table Text Block]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]
Operating Lease, Liability
Finance Lease, Liability
Construction Contractor, Receivable, Excluding Contract Retainage, Year Two
Construction Contractor, Receivable, Excluding Contract Retainage, Year Three
Construction Contractor, Receivable, Excluding Contract Retainage, Year Four
Construction Contractor, Receivable, Excluding Contract Retainage, Year Five
Construction Contractor, Receivable, Excluding Contract Retainage
Management and other fees - related medical practices - net [Default Label]
TotalCostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsNet
Finite-Lived Intangible Assets, Accumulated Amortization
Other Sundry Liabilities, Current
Depreciation, Depletion and Amortization