Company: USPH
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001140361-25-029744
Chunk: 15

Company: U S PHYSICAL THERAPY INC /NV
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 15
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 from operations to fund our development activities and to cover operational needs. We plan to continue developing new clinics and making acquisitions.
        We have, from time to time, purchased the non-controlling interests of limited partners in our existing partnerships. We may purchase additional non-controlling interests in the future.  Generally, any acquisition or purchase of non-controlling
        interests is expected to be accomplished using our cash, financing, or a combination of the two.

We make reasonable and appropriate efforts to collect accounts receivable, including applicable deductible and co-payment amounts. Claims are submitted to payors daily, weekly or monthly in accordance
        with our policy or payor’s requirements. When possible, we submit our claims electronically. The collection process is time-consuming and typically involves the submission of claims to multiple payors whose payment of claims may be dependent upon
        the payment of another payor. Claims under litigation and vehicular incidents can take a year or longer to collect. Medicare and other payor claims relating to new clinics awaiting CMS approval initially may not be submitted for six months or more.
        When all reasonable internal collection efforts have been exhausted, accounts are written off prior to sending them to outside collection firms. With managed care, commercial health plans and self-pay payor type receivables, the write-off generally
        occurs after the account receivable has been outstanding for 120 days or longer.  As of June 30, 2025, we have accrued $7.0 million related to credit balances, a portion of which is due to patients and payors.

Cash Flow

A summary of our operating, investing and financing activities is discussed below.

              Six Months Ended

               June 30, 2025

              June 30, 2024

              Net cash provided by operating activities

              $

              30,186

              $

              33,411

              Net cash (used in) investing activities

              (19,334

              )

              (48,755

              )

              Net cash (used in) financing activities

              (18,128

              )

              (24,570

              )

Operating Activities

Cash provided by operating activities was $30.2 million for the 2025 Six Months as compared to $33.4 million for the 2024 Six Months. The decrease in cash provided by operating activities is related
        to the increase in accounts receivable as a result of higher net revenue and timing of receivable collections, as well as payments on accounts payable and accrued