Company: USPH
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001140361-25-006750
Chunk: 50

Company: U S PHYSICAL THERAPY INC /NV
Filing Date: 2025-03-03
Form: 10-K
Item: Item 3
Chunk 50
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 in our existing partnerships. We may purchase or sell 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 balance has been outstanding for 120 days or longer.  As of December 31, 2024, we have accrued $6.4 million related to credit balances (including in accrued expenses), a portion of which is due to
            patients and payors.  The credit balances are expected to be resolved or paid in the next twelve months.

            40

The average accounts receivable days outstanding was 31 days on December 31, 2024, and 29 days on December 31, 2023. Net patient receivables in the amounts of $6.1 million and $6.3 million were
            written off in 2024 and 2023, respectively.

Cash Flow

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

                  Year Ended

                  December 31, 2024

                  December 31, 2023

                  December 31, 2022

                  Net cash provided by operating activities

                  $

                  74,940

                  $

                  81,978

                  $

                  58,537

                  Net cash used in financing activities

                  (149,450

                  )

                  (45,015

                  )

                  (81,269

                  )

                  Net cash (used in) provided by financing activities

                  (36,953

                  )

                  84,268