|6 Months Ended|
Jun. 30, 2020
|Subsequent Events [Abstract]|
|SUBSEQUENT EVENTS||SUBSEQUENT EVENTS
The complexities and ambiguities of billing, reimbursement regulations and claims processing, as well as considerations unique to Medicare and Medicaid programs, require us to estimate the potential for retroactive adjustments as an element of variable consideration in the recognition of revenue in the period the related services are rendered. In July 2020, we received a favorable Medicare appeal decision from Novitas Solutions Inc. (“Novitas”) for previously denied Medicare claims for 4Kscore tests we performed during 2019. As a result of the favorable appeal, Medicare will reimburse us for such 4Kscore tests for patients who meet defined criteria. Due to a prior non-coverage determination by Novitas, no revenue was previously recognized for these 4Kscore tests and therefore we recognized $10.9 million for the previously denied 4Kscore tests as a component of Revenue from services for the three and six months ended June 30, 2020.
We have reviewed all subsequent events and transactions that occurred after the date of our June 30, 2020 Condensed Consolidated Balance Sheet, through the time of filing this Quarterly Report on Form 10-Q.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef