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REVENUE AND ACCOUNTS RECEIVABLE
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE AND ACCOUNTS RECEIVABLE REVENUE AND ACCOUNTS RECEIVABLE
The Company's service revenue is derived primarily from providing healthcare services to its patients. Revenue is recognized when services are provided to patients at the amount that reflects the consideration that the Company expects to be entitled from patients and third-party payors, including Medicaid, Medicare and insurers (private and Medicare replacement plans), in exchange for providing patient care.
Disaggregation of Revenue
The Company disaggregates revenue from contracts with its patients by payors. The Company has determined that disaggregating revenue into these categories achieves the disclosure objectives to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Revenue by Payor

The Company’s revenue is derived primarily from providing healthcare services to patients and is recognized on the date services are provided at amounts billable to individual patients, adjusted for estimates for variable consideration. For patients under reimbursement arrangements with third-party payors, including Medicaid, Medicare and private insurers, revenue is recorded based on contractually agreed-upon amounts or rates, adjusted for estimates for variable consideration, on a per patient, daily basis or as services are performed.

Revenue from the Medicare and Medicaid programs accounted for 68.9% and 69.0% of the three and six months ended June 30, 2026, and 69.8% and 69.6% for the three and six months ended June 30, 2025, respectively. Settlements with Medicare, Medicaid and managed care payors for retroactive adjustments due to audits and reviews are considered variable consideration and are included in the determination of the estimated transaction price. These settlements are estimated based on the terms of the payment agreement with the payor, correspondence from the payor and the Company’s historical settlement activity. Consistent with healthcare industry practices, any changes to these revenue estimates are recorded in the period the change or adjustment becomes known based on the final settlement. The Company recorded adjustments to revenue which were not material to the Company's revenue for the three and six months ended June 30, 2026 and 2025.

Service revenue for the three and six months ended June 30, 2026 and 2025 is summarized in the following tables:
 Three Months Ended June 30,
20262025
Revenue% of RevenueRevenue% of Revenue
Medicaid(1)
$566,819 39.6 %$485,848 39.8 %
Medicare339,650 23.7 291,117 23.8 
Medicaid-skilled80,664 5.6 75,207 6.2 
Total Medicaid and Medicare$987,133 68.9 %$852,172 69.8 %
Managed care265,348 18.5 229,495 18.8 
Private and other(2)
180,016 12.6 139,747 11.4 
SERVICE REVENUE$1,432,497 100.0 %$1,221,414 100.0 %
(1) Medicaid payor includes revenue for senior living operations.
(2) Private and other includes revenue for skilled services (private, Veteran Affairs and hospice payors), senior living and ancillary operations.

 Six Months Ended June 30,
20262025
Revenue% of RevenueRevenue% of Revenue
Medicaid(1)
$1,110,269 39.4 %$939,688 39.3 %
Medicare675,479 24.0 578,868 24.2 
Medicaid-skilled
155,902 5.6 144,758 6.1 
Total Medicaid and Medicare
$1,941,650 69.0 %$1,663,314 69.6 %
Managed care526,199 18.7 456,712 19.1 
Private and other(2)
346,951 12.3 268,428 11.3 
SERVICE REVENUE$2,814,800 100.0 %$2,388,454 100.0 %
(1) Medicaid payor includes revenue for senior living operations.
(2) Private and other includes revenue for skilled services (private, Veteran Affairs and hospice payors), senior living and ancillary operations.

In addition to the service revenue above, the Company's rental revenue derived from triple-net lease arrangements with third parties is $7,984 and $14,877 for the three and six months ended June 30, 2026, respectively, and $6,355 and $12,356, for the three and six months ended June 30, 2025, respectively.
Balance Sheet Impact
Included in the Company’s condensed consolidated balance sheets are contract balances, comprised of billed accounts receivable and unbilled receivables, which are the result of the timing of revenue recognition, billings and cash collections, as well as contract liabilities, which primarily represent payments the Company receives in advance of services provided. The Company had no material contract liabilities or contract assets as of June 30, 2026 and December 31, 2025, and no material contracts occurred during the three and six months ended June 30, 2026 and 2025.

Accounts receivable consist primarily of amounts due from Medicare and Medicaid programs, other government programs, managed care health plans and private payor sources, net of estimates for variable consideration and doubtful accounts. Accounts receivable as of June 30, 2026 and December 31, 2025, is summarized in the following table:
June 30, 2026December 31, 2025
Medicaid$303,348 $296,649 
Managed care176,273 163,463 
Medicare109,306 102,693 
Private and other payors87,870 81,985 
 $676,797 $644,790 
Less: allowance for doubtful accounts(7,895)(7,805)
ACCOUNTS RECEIVABLE, NET$668,902 $636,985