RadNet (RDNT) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-33307
Entity Registrant Name	RadNet, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3326724
Entity Address, Address Line One	1510 Cotner Avenue
Entity Address, City or Town	Los Angeles,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90025
City Area Code	310
Local Phone Number	478-7808
Entity Current Reporting Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	RDNT
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		50,399,675
Entity Central Index Key	0000790526
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 94,282	$ 40,165
Accounts receivable	144,259	154,763
Due from affiliates	1,218	1,242
Prepaid expenses and other current assets	40,440	45,004
Total current assets	280,199	241,174
PROPERTY, EQUIPMENT AND RIGHT-OF-USE ASSETS
Property and equipment, net	376,431	367,795
Operating lease right-of-use assets	435,382	445,477
Total property, equipment and right-of-use assets	811,813	813,272
OTHER ASSETS
Goodwill	444,407	441,973
Other intangible assets	43,286	42,994
Deferred financing costs	1,448	1,559
Investment in joint ventures	36,425	34,470
Deferred tax assets, net of current portion	45,961	34,548
Deposits and other	35,853	36,996
Total assets	1,699,392	1,646,986
CURRENT LIABILITIES
Accounts payable, accrued expenses and other	199,178	207,585
Due to affiliates	16,508	14,347
Deferred revenue	1,344	1,316
Current finance lease liability	3,292	3,283
Current operating lease liability	68,054	61,206
Current portion of notes payable	39,615	39,691
Total current liabilities	327,991	327,428
LONG-TERM LIABILITIES
Long-term finance lease liability	2,475	3,264
Long-term operating lease liability	403,893	420,922
Notes payable, net of current portion	722,850	652,704
Other non-current liabilities	34,994	9,529
Total liabilities	1,492,203	1,413,847
EQUITY
Common stock - $.0001 par value, 200,000,000 shares authorized; 50,694,375 and 50,314,328 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	5	5
Additional paid-in-capital	269,461	262,865
Accumulated other comprehensive (loss) income	(26,574)	(8,026)
Accumulated deficit	(119,517)	(103,159)
Total RadNet, Inc.'s stockholders' equity	123,375	151,685
Noncontrolling interests	83,814	81,454
Total equity	207,189	233,139
Total liabilities and equity	$ 1,699,392	$ 1,646,986

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock - par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock - shares authorized (in shares)	200,000,000	200,000,000
Common stock - shares issued (in shares)	50,694,375	50,314,328
Common stock - shares outstanding (in shares)	50,694,375	50,314,328

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
REVENUE
Total revenue	$ 281,564	$ 271,549
OPERATING EXPENSES
Cost of operations, excluding depreciation and amortization	267,417	243,057
Depreciation and amortization	21,934	19,620
Loss on sale and disposal of equipment and other	771	971
Severance costs	218	631
Total operating expenses	290,340	264,279
(LOSS) INCOME FROM OPERATIONS	(8,776)	7,270
OTHER INCOME AND EXPENSES
Interest expense	11,552	12,295
Equity in earnings of joint ventures	(1,955)	(1,873)
Other expenses	6	0
Total other expenses	9,603	10,422
LOSS BEFORE INCOME TAXES	(18,379)	(3,152)
Benefit from income taxes	4,381	1,230
NET LOSS	(13,998)	(1,922)
Net income attributable to noncontrolling interests	2,360	1,811
NET LOSS ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS	$ (16,358)	$ (3,733)
BASIC NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share)	$ (0.33)	$ (0.08)
DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share)	$ (0.33)	$ (0.08)
WEIGHTED AVERAGE SHARES OUTSTANDING Basic and Diluted (in shares)	50,294,329	49,553,694
Service fee revenue
REVENUE
Service fee revenue, net of contractual allowances and discounts	$ 248,333	$ 242,672
Revenue under capitation arrangements
REVENUE
Service fee revenue, net of contractual allowances and discounts	$ 33,231	$ 28,877

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (13,998)	$ (1,922)
Foreign currency translation adjustments	1	(8)
Change in fair value of cash flow hedge, net of taxes	(18,549)	(1,196)
COMPREHENSIVE LOSS	(32,546)	(3,126)
Less comprehensive income attributable to noncontrolling interests	2,360	1,811
COMPREHENSIVE LOSS ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS	$ (34,906)	$ (4,937)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Total Radnet, Inc.'s Equity	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2018			48,977,485
Beginning balance, value at Dec. 31, 2018	$ 200,253	$ 127,184	$ 5	$ 242,835	$ 2,259	$ (117,915)	$ 73,069
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of options (in shares)			10,000
Issuance of common stock upon exercise of options	50	50		50
Issuance of common stock under the equity compensation plan (in shares)			653,786
Issuance of common stock under the equity compensation plan	0
Stock-based compensation expense	4,514	4,514		4,514
Issuance of common stock for purchase of membership interest (in shares)			440,207
Issuance of common stock for purchase of membership interest in HVRA	6,000	6,000		6,000
Sale of noncontrolling interests, net of taxes	5,097	3,089		3,089			2,008
Distributions paid to noncontrolling interests	750						750
Change in cumulative foreign currency translation adjustment	(8)	(8)			(8)
Change in fair value cash flow hedge, net of taxes	(1,196)	(1,196)			(1,196)
Net income (loss)	(1,922)	(3,733)				(3,733)	1,811
Ending balance (in shares) at Mar. 31, 2019			50,081,478
Ending balance, value at Mar. 31, 2019	213,538	135,900	$ 5	256,488	1,055	(121,648)	77,638
Beginning balance (in shares) at Dec. 31, 2019			50,314,328
Beginning balance, value at Dec. 31, 2019	233,139	151,685	$ 5	262,865	(8,026)	(103,159)	81,454
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the equity compensation plan (in shares)			380,047
Issuance of common stock under the equity compensation plan	0
Stock-based compensation expense	6,596	6,596		6,596
Change in cumulative foreign currency translation adjustment	1	1			1
Change in fair value cash flow hedge, net of taxes	(18,549)	(18,549)			(18,549)
Net income (loss)	(13,998)	(16,358)				(16,358)	2,360
Ending balance (in shares) at Mar. 31, 2020			50,694,375
Ending balance, value at Mar. 31, 2020	$ 207,189	$ 123,375	$ 5	$ 269,461	$ (26,574)	$ (119,517)	$ 83,814

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (13,998)	$ (1,922)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	21,934	19,620
Amortization of operating lease right-of-use assets	17,259	16,000
Equity in earnings of joint ventures	(1,955)	(1,873)
Amortization of deferred financing costs and loan discount	1,081	975
Loss on sale and disposal of equipment and other	771	971
Stock-based compensation	6,622	4,538
Other noncash items included in cost of operations	0	(560)
Change in fair value of contingent consideration	0	(640)
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in purchase transactions:
Accounts receivable	10,504	(9,486)
Other current assets	5,164	(1,184)
Other assets	677	1,254
Deferred taxes	(11,413)	(1,481)
Operating lease liability	(17,345)	(15,863)
Deferred revenue	28	(440)
Accounts payable, accrued expenses and other	21,584	16,989
Net cash provided by operating activities	40,913	26,900
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of imaging facilities	(4,300)	(3,000)
Equity investments at fair value	0	(143)
Purchase of property and equipment	(51,538)	(32,940)
Proceeds from sale of equipment	779	756
Proceeds from the sale of equity interests in a joint venture	0	132
Net cash used in investing activities	(55,059)	(35,195)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on notes and leases payable	(914)	(1,713)
Payments on term loan debt	(10,824)	(9,020)
Proceeds from sale of noncontrolling interest	0	5,275
Contribution from noncontrolling partner	0	750
Proceeds from revolving credit facility	215,900	144,900
Payments on revolving credit facility	(135,900)	(131,900)
Proceeds from issuance of common stock upon exercise of options	0	50
Net cash provided by financing activities	68,262	8,342
EFFECT OF EXCHANGE RATE CHANGES ON CASH	1	(8)
NET INCREASE IN CASH AND CASH EQUIVALENTS	54,117	39
CASH AND CASH EQUIVALENTS, beginning of period	40,165	10,389
CASH AND CASH EQUIVALENTS, end of period	94,282	10,428
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for interest	9,934	10,296
Equipment acquired and leasehold improvements	$ 30,800	$ 32,600

NATURE OF BUSINESS AND BASIS OF

NATURE OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	NATURE OF BUSINESS AND BASIS OF PRESENTATION We are a national provider of freestanding, fixed-site outpatient diagnostic imaging services with operations in six US states. At March 31, 2020 , we operated directly or indirectly through joint ventures with hospitals, 335 centers located in California, Delaware, Florida, Maryland, New Jersey, and New York. Our centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. Our services include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy and other related procedures. The vast majority of our centers offer multi-modality imaging services. Our multi-modality strategy diversifies revenue streams, reduces exposure to reimbursement changes and provides patients and referring physicians one location to serve the needs of multiple procedures. In addition to our imaging services, we have certain other software subsidiaries which design and sell computerized systems for the imaging industry and internally develop Artificial Intelligence, and Imaging On Call LLC, which provides teleradiology services. Our operations comprise a single segment for financial reporting purposes. The consolidated financial statements include the accounts of RadNet, Inc as well as its subsidiaries in which RadNet has a controlling financial interest. The consolidated financial statements also include certain variable interest entities in which we are the primary beneficiary (as described in more detail below). All material intercompany transactions and balances have been eliminated upon consolidation. All of these affiliated entities are referred to collectively as “RadNet”, “we”, “us”, “our” or the “Company” in this report. Accounting regulations stipulate that generally any entity with a) insufficient equity to finance its activities without additional subordinated financial support provided by any parties, or b) equity holders that, as a group, lack the characteristics which evidence a controlling financial interest, is considered a Variable Interest Entity (“VIE”). We consolidate all VIEs in which we are the primary beneficiary. We determine whether we are the primary beneficiary of a VIE through a qualitative analysis that identifies which variable interest holder has the controlling financial interest in the VIE. The variable interest holder who has both of the following has the controlling financial interest and is the primary beneficiary: (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE. In performing our analysis, we consider all relevant facts and circumstances, including: the design and activities of the VIE, the terms of the contracts the VIE has entered into, the nature of the VIE’s variable interests issued and how they were negotiated with or marketed to potential investors, and which parties participated significantly in the design or redesign of the entity. VIEs that we consolidate as the primary beneficiary consist of professional corporations which are owned or controlled by individuals within our senior management, namely Howard G. Berger, M.D., our President and Chief Executive Officer, and John V. Crues, III, M.D., RadNet's Medical Director; both of whom are members of our Board of Directors. Dr. Berger owns, indirectly, 99% of the equity interests in Beverly Radiology Medical Group III (BRMG) and a controlling interest in two professional corporations in New York City. BRMG is responsible for the professional medical services at nearly all of our facilities located in California. Dr. Crues owns six professional corporations which provide medical services in Delaware, Maryland, New Jersey and New York. Additionally, Dr. Crues is a 1% owner of BRMG. These VIEs are collectively referred to as the consolidated medical group ("the Group"). RadNet provides non-medical, technical and administrative services to the Group for which it receives a management fee, pursuant to the related management agreements. Through the management agreements we have exclusive authority over all non-medical decision making related to the ongoing business operations and we determine the annual budget. The Group has insignificant operating assets and liabilities, and de minimis equity. Through management agreements with us, substantially all cash flows of the Group after expenses, including professional salaries, are transferred to us. We consolidate the revenue and expenses, assets and liabilities of the Group. The Group on a combined basis recognized $39.6 million and $37.4 million of revenue, net of management services fees to RadNet, for the three months ended March 31, 2020 and 2019 , respectively and $39.6 million and $37.4 million of operating expenses for the three months ended March 31, 2020 and 2019 , respectively. RadNet recognized $147.9 million and $142.3 million of total billed net service fee revenue for the three months ended March 31, 2020 , and 2019 , respectively, for management services provided to the Group relating primarily to the technical portion of billed revenue. The cash flows of the Group are included in the accompanying condensed consolidated statements of cash flows. All intercompany balances and transactions have been eliminated in consolidation. In our condensed consolidated balance sheets at March 31, 2020 and December 31, 2019 , we have included approximately $96.2 million and $100.3 million , respectively, of accounts receivable and approximately $12.9 million and $7.0 million of accounts payable and accrued liabilities related to the Group, respectively. The creditors of the Group do not have recourse to our general credit and there are no other arrangements that could expose us to losses on their behalf. However, RadNet may be required to provide financial support to cover any operating expenses in excess of operating revenues. We also own a 49% economic interest in ScriptSender, LLC, which provides secure data transmission services of medical information. Through a management agreement, RadNet provides management and accounting services and receives an agreed upon fee. ScriptSender, LLC is dependent on the Company to finance its own activities, and as such we determined that it is a VIE but we are not a primary beneficiary since we do not have the power to direct the activities of the entity that most significantly impact the entity’s economic performance. At all of our centers not serviced by the Group we have entered into long-term contracts (typically 40 years) with independent radiology groups to provide physician services at those centers. These radiology practices provide professional services, including supervision and interpretation of diagnostic imaging procedures, in our diagnostic imaging centers. The radiology practices maintain full control over the provision of professional services. Under these arrangements, in addition to obtaining technical fees for the use of our diagnostic imaging equipment and the provision of technical services, we provide management services and receive a fee based on the value of the services we provide. We own the diagnostic imaging equipment and, therefore, receive 100% of the technical reimbursements associated with imaging procedures. The radiology practice groups retain the professional reimbursements associated with imaging procedures after deducting management service fees paid to us and we have no economic controlling interest in these radiology practices as such, the financial results of these practices are not consolidated in our financial statements. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and, therefore, do not include all information and footnotes necessary for conformity with U.S. generally accepted accounting principles for complete financial statements; however, in the opinion of our management, all adjustments consisting of normal recurring adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods ended March 31, 2020 and 2019 have been made. The results of operations for any interim period are not necessarily indicative of the results for a full year. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto contained in our annual report on Form 10-K for the year ended December 31, 2019 .

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES During the period covered in this report, there have been no material changes to the significant accounting policies we use and have explained, in our annual report on Form 10-K for the fiscal year ended December 31, 2019 . The information below is intended only to supplement the disclosure in our annual report on Form 10-K for the fiscal year ended December 31, 2019 . REVENUES - Our revenues generally relate to net patient fees received from various payors and patients themselves under contracts in which our performance obligations are to provide diagnostic services to the patients. Revenues are recorded during the period when our obligations to provide diagnostic services are satisfied. Our performance obligations for diagnostic services are generally satisfied over a period of less than one day. The contractual relationships with patients, in most cases, also involve a third-party payor (Medicare, Medicaid, managed care health plans and commercial insurance companies, including plans offered through the health insurance exchanges) and the transaction prices for the services provided are dependent upon the terms provided by (Medicare and Medicaid) or negotiated with (managed care health plans and commercial insurance companies) the third-party payors. The payment arrangements with third-party payors for the services we provide to the related patients typically specify payments at amounts less than our standard charges and generally provide for payments based upon predetermined rates per diagnostic services or discounted fee-for-service rates. Management continually reviews the contractual estimation process to consider and incorporate updates to laws and regulations and the frequent changes in managed care contractual terms resulting from contract renegotiations and renewals. As it relates to the consolidated medical group, this service fee revenue includes payments for both the professional medical interpretation revenue recognized by them as well as the payment for all other aspects related to our providing the imaging services, for which we earn management fees. As it relates to others centers, this service fee revenue is earned through providing the use of our diagnostic imaging equipment and the provision of technical services as well as providing administration services such as clerical and administrative personnel, bookkeeping and accounting services, billing and collection, provision of medical and office supplies, secretarial, reception and transcription services, maintenance of medical records, and advertising, marketing and promotional activities. Our revenues are based upon the estimated amounts we expect to be entitled to receive from patients and third-party payors. Estimates of contractual allowances under managed care and commercial insurance plans are based upon the payment terms specified in the related contractual agreements. Revenues related to uninsured patients and copayment and deductible amounts for patients who have health care coverage may have discounts applied (uninsured discounts and contractual discounts). We also record estimated implicit price concessions (based primarily on historical collection experience) related to uninsured accounts to record self-pay revenues at the estimated amounts we expect to collect. Under capitation arrangements with various health plans, we earn a per-enrollee amount each month for making available diagnostic imaging services to all plan enrollees under the capitation arrangement. Revenue under capitation arrangements is recognized in the period in which we are obligated to provide services to plan enrollees under contracts with various health plans. We typically experience some seasonality to our revenue stream. During the first quarter of each year we generally experience the lowest volumes of procedures and the lowest level of revenue for any quarter during the year. It is common for inclement weather to result in patient appointment cancellations and, in some cases, imaging center closures. Second, in recent years, we have observed greater participation in high deductible health plans by patients. As these high deductibles reset in January for most of these patients, we have observed that patients utilize medical services less during the first quarter, when securing medical care will result in significant out-of-pocket expenditures. Our total revenues during the three months ended March 31, 2020 and 2019 are presented in the table below based on an allocation of the estimated transaction price with the patient between the primary patient classification of insurance coverage (in thousands): Three Months Ended 2020 2019 Commercial insurance $ 155,461 $ 151,678 Medicare 57,749 54,199 Medicaid 6,628 7,120 Workers' compensation/personal injury 10,274 11,027 Other patient revenue 5,662 5,835 Management fee revenue 2,567 2,117 Teleradiology and Software revenue 3,770 4,386 Other 6,222 6,310 Service fee revenue 248,333 242,672 Revenue under capitation arrangements 33,231 28,877 Total revenue $ 281,564 $ 271,549 RECLASSIFICATION – We have reclassified certain amounts within property and equipment and goodwill to conform to our 2020 presentation. ACCOUNTS RECEIVABLE - Substantially all of our accounts receivable are due under fee-for-service contracts from third party payors, such as insurance companies and government-sponsored healthcare programs, or directly from patients. Services are generally provided pursuant to one-year contracts with healthcare providers. We continuously monitor collections from our payors and maintain an allowance for bad debts based upon specific payor collection issues that we have identified and our historical experience. In regards to the credit loss standard, our expectation is that the historical credit loss experienced across our receivable portfolio is materially similar to any current expected credit losses that would be estimated under the CECL model. In 2018 and 2019 we entered into factoring agreements with various institutions and sold certain accounts receivable under non-recourse agreements. These transactions are accounted for as a reduction in accounts receivable as the agreements transfer effective control over and risk related to the receivables to the buyers. Proceeds on notes receivables are reflected as operating activities on our statement of cash flows and on our balance sheet as prepaid expenses and other current assets for the current portion and deposits and other for the long term portion. At March 31, 2020 we have $22.7 million , net of discount, remaining to be collected on these agreements. We do not utilize factoring arrangements as an integral part of our financing for working capital. To employ the CECL model for the notes receivable, we assess the party's ability to pay by reviewing their financial statements annually and reassessing any insolvency risk on a semi-annual basis. If a failure to pay occurs, we estimate an expected credit loss after three quarters of late payments based on the remittance schedule of the note. In the event of a significant past due balance, as the sold receivables were already revalued and recorded at net realizable value, we can mitigate the expected credit loss by offsetting any collections from the underlying factored receivables and not remitting that to the counter party. DEFERRED FINANCING COSTS - Costs of financing are deferred and amortized using the effective interest rate method. Deferred financing costs, net of accumulated amortization, were $1.4 million and $1.6 million , as of March 31, 2020 and December 31, 2019 , respectively and related to our line of credit. In conjunction with our Sixth and Seventh Amendments to our First Lien Credit Agreement (as defined below), a net addition of approximately $0.7 million was added to deferred financing costs. See Note 6, Credit Facilities and Notes Payable for more information. INVENTORIES - Inventories, consisting mainly of medical supplies, are stated at the lower of cost or net realizable value with cost determined by the first-in, first-out method. PROPERTY AND EQUIPMENT - Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is performed using the straight-line method over the estimated useful lives of the assets acquired, which range from 3 to 15 years . Leasehold improvements are amortized at the lesser of lease term or their estimated useful lives, which range from 3 to 15 years . Maintenance and repairs are charged to expense as incurred. BUSINESS COMBINATION - When the qualifications for business combination accounting treatment are met, it requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. GOODWILL AND INDEFINITE LIVED INTANGIBLES - Goodwill at March 31, 2020 totaled $444.4 million . Indefinite lived intangible assets at March 31, 2020 were $11.3 million . Goodwill and Indefinite Lived Intangibles are recorded as a result of business combinations. When we determine the carrying value of reporting unit exceeds its fair value an impairment charge would be recognized and should not exceed the total amount of goodwill allocated to that reporting unit. We tested goodwill and indefinite lived intangibles for impairment on October 1, 2019, noting no impairment. In addition to the annual impairment test, we regularly assess if an event has occurred which would require interim impairment testing. We considered the current and expected future economic and market conditions surrounding the novel strain of coronavirus ("COVID-19") pandemic and did not identify an indication of goodwill impairment being more likely than not through March 31, 2020 . Activity in goodwill for the three months ended March 31, 2020 is provided below (in thousands): Balance as of December 31, 2019 $ 441,973 Goodwill acquired through the acquisition of Olney Open MRI, LLC 601 Goodwill acquired through the acquisition of MRI at Woodbridge, LLC 1,833 Balance as of March 31, 2020 $ 444,407 INCOME TAXES - Income tax expense is computed using an asset and liability method and using expected annual effective tax rates. Under this method, deferred income tax assets and liabilities result from temporary differences in the financial reporting bases and the income tax reporting bases of assets and liabilities. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefit that, based on available evidence, is not expected to be realized. When it appears more likely than not that deferred taxes will not be realized, a valuation allowance is recorded to reduce the deferred tax asset to its estimated realizable value. For net deferred tax assets we consider estimates of future taxable income in determining whether our net deferred tax assets are more likely than not to be realized. We recorded an income tax benefit of $4.4 million , or an effective tax rate of 23.8% , for the three months ended March 31, 2020 compared to an income tax benefit of $1.2 million , or an effective tax rate of 39.0% for the three months ended March 31, 2019 . The income tax rates for the three months ended March 31, 2020 diverge from the federal statutory rate due to (i) noncontrolling interests due to the controlled partnerships; (ii) effects of state income taxes; and (iii) excess tax benefits attributable to share-based compensation. We believe no significant changes in the unrecognized tax benefits will occur within the next 12 months. On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act, among other things, includes certain income tax provisions for individuals and corporations; however, these benefits do not impact the Company’s current tax provision. LEASES - We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities, and long term operating lease liability in our consolidated balance sheets. Finance leases are included in property and equipment, current finance lease liability, and long-term finance lease liability in our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. We include options to extend a lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For a contract in which we are a lessee that contains fixed payments for both lease and non-lease components, we have elected to account for the components as a single lease component, as permitted. For finance leases, interest expense on the lease liability is recognized using the effective interest method and amortization of the right-of-use asset is recognized on a straight-line basis over the shorter of the estimated useful life of the asset or the lease term. ROU assets are tested for impairment if circumstances suggest that the carrying amount may not be recoverable. Our ROU assets consist of facility and equipment assets on operating leases. No events have occurred such as fire, flood, or other acts which have impaired the integrity of our ROU assets in 2020. Our facility leases require us to maintain insurance policies which would cover major damage to our facilities. We maintain business interruption insurance to cover loss of business due to a facility becoming non-operational under certain circumstances. Our equipment leases are covered by warranty and service contracts which cover repairs and provide regular maintenance to keep the equipment in functioning order. See Note 5, Leases, for more information. EQUITY BASED COMPENSATION – We have one long-term incentive plan that we adopted in 2006 and which we first amended and restated as of April 20, 2015, and again on March 9, 2017 (the “Restated Plan”). The Restated Plan was approved by our stockholders at our annual stockholders meeting on June 8, 2017. We have reserved for issuance under the Restated Plan 14,000,000 shares of common stock. We can issue options, stock awards, stock appreciation rights, stock units and cash awards under the Restated Plan. Certain options granted under the Restated Plan to employees are intended to qualify as incentive stock options under existing tax regulations. Stock options and warrants generally vest over three to five years and expire five to ten years from date of grant. The compensation expense recognized for all equity-based awards is recognized over the awards’ service periods. Equity-based compensation is classified in operating expenses within the same line item as the majority of the cash compensation paid to employees. See Note 7, Stock-Based Compensation, for more information. COMPREHENSIVE LOSS - ASC 220 establishes rules for reporting and displaying comprehensive loss or income and its components. Our unrealized gains or losses on foreign currency translation adjustments, interest rate cap and swap agreements are included in comprehensive loss and are included in the consolidated statements of comprehensive loss for the three months ended March 31, 2020 and 2019 . COMMITMENTS AND CONTINGENCIES - We are party to various legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. With respect to these matters, we evaluate the developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. We believe that the amount or any estimable range of reasonably possible or probable loss will not, either individually or in the aggregate, have a material adverse effect on our business and consolidated financial statements. However, the outcome of these matters is inherently uncertain. Therefore, if one or more of these matters were resolved against us for amounts in excess of management's expectations, our results of operations and financial condition, including in a particular reporting period in which any such outcome becomes probable and estimable, could be materially adversely affected. DERIVATIVE INSTRUMENTS 2016 CAPS In the fourth quarter of 2016, we entered into two forward interest rate cap agreements ("2016 Caps"). The 2016 Caps will mature in September and October 2020. The 2016 Caps had notional amounts of $150,000,000 and $350,000,000 , respectively, which were designated at inception as cash flow hedges of future cash interest payments associated with portions of our variable rate bank debt. Under these arrangements, the Company purchased a cap on 3 month LIBOR at 2.0% . We incurred a $5.3 million premium to enter into the 2016 Caps which is being accrued over the life of the agreements. At inception, we designated our 2016 Caps as cash flow hedges of floating-rate borrowings. In accordance with ASC Topic 815, derivatives that have been designated and qualify as cash flow hedging instruments are reported at fair value. The gain or loss of the hedge (i.e. change in fair value) is reported as a component of comprehensive loss in the consolidated statement of equity. See Fair Value Measurements section below for the fair value of the 2016 Caps at March 31, 2020 . A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2016 Caps is as follows (amounts in thousands): For the three months ended March 31, 2020 Account January 1, 2020 Balance Amount of comprehensive gain recognized on derivative net of taxes March 31, 2020 Balance Location Accumulated Other Comprehensive Loss, net of taxes (1,877 ) 280 (1,597 ) Liabilities and Equity For the twelve months ended December 31, 2019 Account January 1, 2019 Balance Amount of comprehensive gain recognized on derivative net of taxes December 31, 2019 Balance Location Accumulated Other Comprehensive Loss, net of taxes 2,506 (4,383 ) (1,877 ) Liabilities and Equity 2019 SWAPS In the second quarter of 2019, we entered into four forward interest rate agreements ("2019 swaps"). The 2019 swaps have total notional amounts of $500,000,000 , consisting of two agreements of $50,000,000 each and two agreements of $200,000,000 each. The 2019 swaps will secure a constant interest rate associated with portions of our variable rate bank debt and have an effective date of October 13, 2020. They will mature in October 2023 for the smaller notional and October 2025 for the larger notional. Under these arrangements, we arranged the 2019 swaps with locked in 1 month LIBOR rates at 1.96% for the $100,000,000 notional and at 2.05% for the $400,000,000 notional. As of the effective date, we will be liable for premium payments if interest rates decline below arranged rates, but will receive interest payments if rates remain above the arranged rates. At inception, we designated our 2019 swaps as cash flow hedges of floating-rate borrowings. In accordance with ASC Topic 815, derivatives that have been designated and qualify as cash flow hedging instruments are reported at fair value. The gain or loss of the hedge (i.e. change in fair value) is reported as a component of comprehensive loss in the consolidated statement of equity. See Fair Value Measurements section below for the fair value of the 2019 swaps at March 31, 2020 . A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2019 swaps is as follows (amounts in thousands): For the three months ended March 31, 2020 Account January 1, 2020 Balance Amount of comprehensive loss recognized on derivative net of taxes March 31, 2020 Balance Location Accumulated Other Comprehensive Loss, net of taxes $ (5,870 ) $ (18,829 ) $ (24,699 ) Liabilities and Equity For the twelve months ended December 31, 2019 Account January 1, 2019 Balance Amount of comprehensive loss recognized on derivative net of taxes December 31, 2019 Balance Location Accumulated Other Comprehensive Loss, net of taxes $ — $ (5,870 ) $ (5,870 ) Liabilities and Equity FAIR VALUE MEASUREMENTS – Assets and liabilities subject to fair value measurements are required to be disclosed within a fair value hierarchy. The fair value hierarchy ranks the quality and reliability of inputs used to determine fair value. Accordingly, assets and liabilities carried at, or permitted to be carried at, fair value are classified within the fair value hierarchy in one of the following categories based on the lowest level input that is significant to a fair value measurement: Level 1—Fair value is determined by using unadjusted quoted prices that are available in active markets for identical assets and liabilities. Level 2—Fair value is determined by using inputs other than Level 1 quoted prices that are directly or indirectly observable. Inputs can include quoted prices for similar assets and liabilities in active markets or quoted prices for identical assets and liabilities in inactive markets. Related inputs can also include those used in valuation or other pricing models such as interest rates and yield curves that can be corroborated by observable market data. Level 3—Fair value is determined by using inputs that are unobservable and not corroborated by market data. Use of these inputs involves significant and subjective judgment. Derivatives: The tables below summarize the estimated fair values of certain of our financial assets that are subject to fair value measurements, and the classification of these assets on our condensed consolidated balance sheets, as follows (in thousands): As of March 31, 2020 Level 1 Level 2 Level 3 Total Current and long term liabilities 2016 caps - Interest Rate Contracts $ — $ 727 $ — $ 727 2019 swaps - Interest Rate Contracts $ — $ 34,937 $ — $ 34,937 As of December 31, 2019 Level 1 Level 2 Level 3 Total Current and long term liabilities 2016 caps - Interest Rate Contracts $ — $ 1,081 $ — $ 1,081 2019 swaps - Interest Rate Contracts $ — $ 9,477 $ — $ 9,477 The estimated fair value of these contracts was determined using Level 2 inputs. More specifically, the fair value was determined by calculating the value of the difference between the fixed interest rate of the interest rate swaps and the counterparty’s forward LIBOR curve. The forward LIBOR curve is readily available in the public markets or can be derived from information available in the public markets. Long Term Debt: The table below summarizes the estimated fair value compared to our face value of our long-term debt as follows (in thousands): As of March 31, 2020 Level 1 Level 2 Level 3 Total Fair Value Total Face Value First Lien Term Loans and SunTrust Term Loan $ — $ 595,656 $ — $ 595,656 $ 694,875 As of December 31, 2019 Level 1 Level 2 Level 3 Total Total Face Value First Lien Term Loans and SunTrust Term Loan $ — $ 708,948 $ — $ 708,948 $ 705,699 As of March 31, 2020 our Barclays revolving credit facility had an $80.0 million balance outstanding while at December 31, 2019 , our Barclays revolving credit facility had no aggregate principal amount outstanding. Our SunTrust revolving credit facility relating to our consolidated subsidiary NJIN, had no principal amount outstanding at March 31, 2020 and at December 31, 2019 . The estimated fair value of our long-term debt, which is discussed in Note 6, was determined using Level 2 inputs primarily related to comparable market prices. We consider the carrying amounts of cash and cash equivalents, receivables, other current assets, current liabilities and other notes payables to approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization or payment. Additionally, we consider the carrying amount of our finance lease obligations to approximate their fair value because the weighted average interest rate used to formulate the carrying amounts approximates current market rates. EARNINGS PER SHARE - Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data): Three Months Ended March 31, 2020 2019 Net loss attributable to RadNet, Inc.'s common stockholders $ (16,358 ) $ (3,733 ) BASIC AND DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO RADNET, INC.'S COMMON STOCKHOLDERS Weighted average number of common shares outstanding during the period 50,294,329 49,553,694 Basic and diluted net loss per share attributable to RadNet, Inc.'s common stockholders $ (0.33 ) $ (0.08 ) EQUITY INVESTMENTS AT FAIR VALUE–Accounting guidance requires entities to measure equity investments at fair value, with any changes in fair value recognized in net income. If there is no readily determinable fair value, the guidance allows entities the ability to measure investments at cost less impairment. As of March 31, 2020 , we have three equity investments for which a fair value is not readily determinable and therefore the total amounts invested are recognized at cost as follows: Medic Vision: Medic Vision Imaging Solutions Ltd., based in Israel, specializes in software packages that provide compliant radiation dose structured reporting and enhanced images from reduced dose CT scans. On March 24, 2017, we acquired an initial 12.5% equity interest in Medic Vision for $1.0 million . We also received an option to exercise warrants to acquire up to an additional 12.5% equity interest for $1.4 million within one year from the initial share purchase date, if exercised in full. On March 1, 2018 we exercised our warrant in part and acquired an additional 1.96% for $200,000 . Our initial equity interest has been diluted to 12.25% and our total equity investment stands at 14.21% . In accordance with accounting guidance , as we exercise no significant influence over Medic Vision’s operations, the investment is recorded at its cost of $1.2 million , given that the fair value is not readily determinable. No impairment in our investment was identified as of March 31, 2020 . Turner Imaging: Turner Imaging Systems, based in Utah, develops and markets portable X-ray imaging systems that provide a user the ability to acquire X-ray images wherever and whenever they are needed. On February 1, 2018, we purchased 2.1 million preferred shares in Turner Imaging Systems for $2.0 million . On January 1, 2019 we funded a convertible promissory note in the amount of $143,000 that converted to additional 80,000 shares December 21, 2019. No impairment in our investment was identified as of March 31, 2020 . WhiteRabbit.ai Inc: WhiteRabbit.ai Inc., based in California, is currently developing an artificial intelligence suite which aims to improve the speed and accuracy of cancer detection in radiology and improve patient care. On November 5, 2019 we acquired an equity interest in the company for $1.0 million and also loaned the company $2.5 million in support of its operations, the principal of which is due November 2022. To leverage their artificial intelligence expertise, we entered into a software subscription service contract to assist our radiology work flow and advanced them $4.0 million for future software subscription fees that is recorded as a prepaid expense in Prepaid and Other Current assets in our consolidated balance sheets. INVESTMENT IN JOINT VENTURES – We have 12 unconsolidated joint ventures with ownership interests ranging from 35% to 55% . These joint ventures represent partnerships with hospitals, health systems or radiology practices and were formed for the purpose of owning and operating diagnostic imaging centers. Professional services at the joint venture diagnostic imaging centers are performed by contracted radiology practices or a radiology practice that participates in the joint venture. Our investment in these joint ventures is accounted for under the equity method, since RadNet does not have a controlling financial interest in such ventures. We evaluate our investment in joint ventures, including cost in excess of book value (equity method goodwill) for impairment whenever indicators of impairment exist. No indicators of impairment existed as of March 31, 2020 . Joint venture investment and financial information The following table is a summary of our investment in joint ventures during the three months ended March 31, 2020 (in thousands): Balance as of December 31, 2019 $ 34,470 Equity in earnings in these joint ventures 1,955 Balance as of March 31, 2020 $ 36,425 We charged management service fees from the centers underlying these joint ventures of approximately $2.6 million and $2.1 million for the quarters ended March 31, 2020 and 2019 , respectively. We eliminate any unrealized portion of our management service fees with our equity in earnings of joint ventures. The following table is a summary of key balance sheet data for these joint ventures as of March 31, 2020 and December 31, 2019 and income statement data for the three months ended March 31, 2020 and 2019 (in thousands): Balance Sheet Data: March 31, 2020 December 31, 2019 Current assets $ 28,618 $ 27,427 Noncurrent assets 69,819 61,037 Current liabilities (9,829 ) (9,217 ) Noncurrent liabilities (23,988 ) (18,872 ) Total net assets $ 64,620 $ 60,375 Book value of RadNet joint venture interests $ 29,985 $ 28,001 Cost in excess of book value of acquired joint venture interests and other 6,440 6,469 Total value of Radnet joint venture interests $ 36,425 $ 34,470 Total book value of other joint venture partner interests $ 34,635 $ 32,374 Income statement data for the three months ended March 31, 2020 2019 Net revenue $ 26,341 $ 27,254 Net income $ 4,245 $ 3,952

RECENT ACCOUNTING AND REPORTING

RECENT ACCOUNTING AND REPORTING STANDARDS	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING AND REPORTING STANDARDS	RECENT ACCOUNTING AND REPORTING STANDARDS Accounting standards adopted In June 2016, the FASB issued ASU No. 2016-13 ("ASU 2016-13), Financial Instruments - Credit Losses. ASU 2016-13 replaces the incurred loss methodology previously utilized for valuing financial instruments with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. We prospectively adopted the standard on January 1, 2020 and the adoption did not have a material impact to the condensed consolidated financial statements, resulting in no adjustments to our prior year earnings. See the Accounts Receivable section to Note 2 for further information on our allowances for credit losses. In August 2018, the FASB issued ASU No. 2018-15 (“ASU 2018-15”), Intangibles-Goodwill and Other-Internal-Use Software. ASU 2018-15 aligns the requirements for deferring implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This ASU is effective in the first quarter of 2020 with early adoption permitted and can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The adoption of this standard resulted in an insignificant amount of additional assets recorded on our condensed consolidated balance sheet. In March 2020, the FASB issued ASU 2020-03 ("ASU 2020-03"), Codification Improvements to Financial Instruments . The amendments in this update represent changes to clarify or improve the codification and correct unintended application. ASU 2020-03 was effective immediately upon issuance and its adoption did not have a material impact on our financial statements. In August 2018, the FASB issued ASU No. 2018-13 ("ASU 2018-13"), Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements . This standard removes, modifies and adds certain disclosures related to recurring and nonrecurring fair value measurements. We adopted ASC 2018-13 effective January 1, 2020 and it had no effect on our disclosures. Accounting standards not yet adopted In December 2019, the FASB issued ASU 2019-12 ("ASU 2019-12"), Income Taxes (Topic 740). ASU 2019-12 removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other areas of the standard. ASU 2019-12 will be effective beginning in the first quarter of 2021. Early adoption is permitted. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. We are currently evaluating the impact this ASU will have on our financial statements and related disclosures as well as the timing of adoption. In January 2020, the FASB issued ASU 2020-01 ("ASU 2020-01"), Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815), clarifying the interaction between accounting standards related to equity securities, equity method investments, and certain derivatives. ASU 2020-01 is effective for fiscal years beginning after December 15, 2020. We do not expect the adoption of this guidance will have a material impact on our financial statements. In March 2020, the FASB issued ASU 2020-04 ("ASU 2020-04"), Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 provides optional expedients and exceptions for applying generally accepted accounting principles to certain contract modifications and hedging relationships that reference London Inter-bank Offered Rate (LIBOR) or another reference rate expected to be discontinued. The guidance is effective upon issuance and generally can be applied through December 31, 2022. We are currently evaluating the potential impact of ASU 2020-04 on our financial statements.

FACILITY ACQUISITIONS

FACILITY ACQUISITIONS	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
FACILITY ACQUISITIONS	FACILITY ACQUISITIONS Acquisitions: On March 2, 2020 our consolidated subsidiary New Jersey Imaging Networks ("NJIN") completed the acquisition of certain assets of MRI at Woodbridge, LLC consisting of a single multi-modality imaging center located in Avenel, New Jersey for cash consideration of $2.6 million . NJIN made a fair value determination of the acquired assets and assumed liabilities and approximately $0.5 million in property and equipment, $1.1 million in right-of-use assets, $0.3 million in intangible assets, $1.1 million in operating lease liabilities, $0.1 million in finance lease liabilities, and $1.8 million in goodwill were recorded. On January 2, 2020 we completed our acquisition of certain assets of Olney Open MRI, LLC, consisting of a single multi-modality imaging center located in Columbia, Maryland for cash consideration of $1.8 million . We have made a fair value determination of the acquired assets and assumed liabilities and approximately $0.8 million in property and equipment, $1.3 million in right-of-use assets, $0.3 million in intangible assets, $1.3 million in operating lease liabilities and $0.6 million in goodwill were recorded.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
LEASES	LEASES Lease Liability We have operating leases for medical facilities, administrative offices, warehouse space and major medical equipment. We lease the premises at which these facilities are located and do not have options to purchase the facilities we rent. Our most common initial term varies in length from 5 to 15 years . Including renewal options negotiated with the landlord, we can have a total span of 10 to 35 years at the facilities we lease. We also lease smaller satellite X-Ray locations on mutually renewable terms, usually lasting one year. Additionally, we have operating and finance leases for certain medical and office equipment, with lease terms generally lasting from 5 to 8 years . The components of lease expense were as follows: Three Months Ended (In thousands) 2020 2019 Operating lease cost $ 25,040 $ 22,792 Finance lease cost: Depreciation of leased equipment $ 780 $ 783 Interest on lease liabilities 66 123 Total finance lease cost $ 846 $ 905 Supplemental cash flow information related to leases was as follows: Three Months Ended (In thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 24,660 $ 22,921 Operating cash flows from financing leases 66 123 Financing cash flows from financing leases 839 1,522 Right-of-use & Equipment assets obtained in exchange for lease obligations: Operating leases (1) 10,050 412,695 Financing leases 4 14,056 (1) Amounts for the three months ended March 31, 2019 include the transition adjustment for the adoption of Topic 842 discussed in Note 2, Significant Accounting Policies for further information. Supplemental balance sheet information related to leases was as follows: (In thousands, except lease term and discount rates) March 31, 2020 December 31, 2019 Operating Leases Operating lease right-of-use assets $ 435,382 $ 445,477 Current portion of operating lease liability $ 68,054 $ 61,206 Operating lease liabilities 403,893 420,922 Total operating lease liabilities $ 471,947 $ 482,128 Finance Leases Property and Equipment, at cost $ 13,963 $ 14,105 Accumulated depreciation (3,877 ) (3,135 ) Equipment, net $ 10,086 $ 10,970 Current portion of finance lease $ 3,292 $ 3,283 Finance lease liabilities 2,475 3,264 Total finance lease liabilities $ 5,767 $ 6,547 Weighted Average Remaining Lease Term Operating leases - years 8.7 8.8 Finance leases - years 3.1 3.3 Weighted Average Discount Rate Operating leases 6.4 % 6.4 % Finance leases 4.4 % 4.4 % Maturities of lease liabilities were as follows: (In thousands) Operating Financing Year Ending December 31, Leases Leases 2020 (excluding the three months ended March 31, 2020) $ 66,261 $ 2,609 2021 90,140 2,650 2022 81,744 715 2023 70,759 11 2024 55,366 11 Thereafter 265,744 — Total Lease Payments 630,014 5,996 Less imputed interest (158,067 ) (229 ) Total $ 471,947 $ 5,767 As of March 31, 2020 , we have an additional operating lease for a medical facility that has not yet commenced of approximately $2.0 million , which will commence in 2025 with a lease term of 5 years .
LEASES	LEASES Lease Liability We have operating leases for medical facilities, administrative offices, warehouse space and major medical equipment. We lease the premises at which these facilities are located and do not have options to purchase the facilities we rent. Our most common initial term varies in length from 5 to 15 years . Including renewal options negotiated with the landlord, we can have a total span of 10 to 35 years at the facilities we lease. We also lease smaller satellite X-Ray locations on mutually renewable terms, usually lasting one year. Additionally, we have operating and finance leases for certain medical and office equipment, with lease terms generally lasting from 5 to 8 years . The components of lease expense were as follows: Three Months Ended (In thousands) 2020 2019 Operating lease cost $ 25,040 $ 22,792 Finance lease cost: Depreciation of leased equipment $ 780 $ 783 Interest on lease liabilities 66 123 Total finance lease cost $ 846 $ 905 Supplemental cash flow information related to leases was as follows: Three Months Ended (In thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 24,660 $ 22,921 Operating cash flows from financing leases 66 123 Financing cash flows from financing leases 839 1,522 Right-of-use & Equipment assets obtained in exchange for lease obligations: Operating leases (1) 10,050 412,695 Financing leases 4 14,056 (1) Amounts for the three months ended March 31, 2019 include the transition adjustment for the adoption of Topic 842 discussed in Note 2, Significant Accounting Policies for further information. Supplemental balance sheet information related to leases was as follows: (In thousands, except lease term and discount rates) March 31, 2020 December 31, 2019 Operating Leases Operating lease right-of-use assets $ 435,382 $ 445,477 Current portion of operating lease liability $ 68,054 $ 61,206 Operating lease liabilities 403,893 420,922 Total operating lease liabilities $ 471,947 $ 482,128 Finance Leases Property and Equipment, at cost $ 13,963 $ 14,105 Accumulated depreciation (3,877 ) (3,135 ) Equipment, net $ 10,086 $ 10,970 Current portion of finance lease $ 3,292 $ 3,283 Finance lease liabilities 2,475 3,264 Total finance lease liabilities $ 5,767 $ 6,547 Weighted Average Remaining Lease Term Operating leases - years 8.7 8.8 Finance leases - years 3.1 3.3 Weighted Average Discount Rate Operating leases 6.4 % 6.4 % Finance leases 4.4 % 4.4 % Maturities of lease liabilities were as follows: (In thousands) Operating Financing Year Ending December 31, Leases Leases 2020 (excluding the three months ended March 31, 2020) $ 66,261 $ 2,609 2021 90,140 2,650 2022 81,744 715 2023 70,759 11 2024 55,366 11 Thereafter 265,744 — Total Lease Payments 630,014 5,996 Less imputed interest (158,067 ) (229 ) Total $ 471,947 $ 5,767 As of March 31, 2020 , we have an additional operating lease for a medical facility that has not yet commenced of approximately $2.0 million , which will commence in 2025 with a lease term of 5 years .

CREDIT FACILITY AND NOTES PAYAB

CREDIT FACILITY AND NOTES PAYABLE	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
CREDIT FACILITY AND NOTES PAYABLE	5.50x 4.50% 3.50% > 4.00x but ≤ 5.50x 3.75% 2.75% >3.50x but ≤ 4.00x 3.50% 2.50% ≤ 3.50x 3.25% 2.25% At March 31, 2020 the effective Adjusted Eurodollar Rate and the Base Rate for the First Lien Term Loans was 1.85% and 3.25% , respectively and the applicable margin for Adjusted Eurodollar Rate and Base Rate borrowings was 3.50% and 2.50% , respectively. Payments. The First Lien Credit Agreement provides for quarterly payments of principal under the First Lien Term Loans in the amount of approximately $9.7 million . Maturity Date. The maturity date for the First Lien Term Loans shall be on the earliest to occur of (i) July 1, 2023, and (ii) the date on which all First Lien Term Loans shall become due and payable in full under the First Lien Credit Agreement, whether by acceleration or otherwise. Additional Borrowing. Under the First Lien Credit Agreement, we can elect to request (i) an increase to the existing Barclays Revolving Credit Facility and/or (ii) issue additional First Lien Term Loans, provided that the aggregate amount of such increases and additions does not exceed (a) $100.0 million and (b) as long as the First Lien Leverage Ratio (as defined in the First Lien Credit Agreement) would not exceed 4.00:1.00 after giving effect to such incremental facilities, an uncapped amount of incremental facilities, in each case subject to the conditions and limitations set forth in the First Lien Credit Agreement. Each lender approached to provide all or a portion of any incremental facility may elect or decline, in its sole discretion, to provide an incremental commitment or loan. Barclays Revolving Credit Facility: Interest: Revolving loans borrowed under the Revolving Credit Facility bear interest at either an Adjusted Eurodollar Rate or a Base Rate plus an applicable margin. Rates of the applicable margin for borrowing under the Revolving Credit Facility also change depending on our leverage ratio and are the same rates as noted in the schedule above for First Lien Term Loans. As of March 31, 2020 , the effective interest rate payable on revolving loans was 5.75% . Letters of Credit: For letters of credit issued under the Revolving Credit Facility, letter of credit fees accrue at the applicable margin of Adjusted Eurodollar Rate, currently 3.50% , and fronting fees accrue at 0.25% per annum, in each case on the average aggregate daily maximum amount available to be drawn under all letters of credit issued under the First Lien Credit Agreement. In addition a commitment fee of 0.50% per annum accrues on the unused revolver commitments under the Revolving Credit Facility. Maturity Date: The Revolving Credit Facility will terminate on the earliest to occur of (i) July 1, 2023, (ii) the date we voluntarily agree to permanently reduce the Revolving Credit Facility to zero pursuant to section 2.13(b) of the First Lien Credit Agreement, and (iii) the date the Revolving Credit Facility is terminated due to specific events of default pursuant to section 8.01 of the First Lien Credit Agreement. The following relates to our SunTrust financing activities: Amended and Restated Revolving Credit and Term Loan Agreement On August 31, 2018, our subsidiary, NJIN, entered into the Amended and Restated Revolving Credit and Term Loan Agreement (as amended, the "SunTrust Restated Credit Agreement") as borrower with SunTrust Bank and other financial institutions as lenders and to provide NJIN aggregate credit facilities of $90.0 million as categorized below: SunTrust Term Loan: Pursuant to the SunTrust Restated Credit Agreement, the lenders thereunder made a term loan to NJIN in the amount of $60.0 million . The SunTrust Term Loan is repayable in scheduled quarterly amounts (as described below) and has a maturity date of the earlier of (i) August 31, 2023 and (ii) the date on which the principal amount of the SunTrust Term Loan has been declared or automatically has become due and payable (whether by acceleration or otherwise). SunTrust Revolving Credit Facility: The SunTrust Restated Credit Agreement establishes a $30.0 million revolving credit facility available to NJIN for funding requirements. The SunTrust Revolving Credit Facility terminates on the earliest of (i) August 31, 2023, (ii) the voluntary termination thereof by NJIN pursuant to Section 2.8 of the SunTrust Restated Credit Agreement, or (iii) the date on which all amounts outstanding under the SunTrust Restated Credit Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise). NJIN has not borrowed against the revolving credit line. Interest: Interest rates and fees of the applicable margin for borrowing under the SunTrust Restated Credit Agreement adjust depending on our leverage ratio, according to the following table: Pricing Level Leverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for Base Rate Loans Applicable Margin for Letter of Credit Fees Applicable Percentage for Commitment Fee I Greater than or equal to 3.00:1.00 2.75% per annum 1.75% per annum 2.75% per annum 0.45% per annum II Less than 3.00:1.00 but greater than or equal to 2.50:1.00 2.25% per annum 1.25% per annum 2.25% per annum 0.40% per annum III Less than 2.50:1.00 but greater than or equal to 2.00:1.00 2.00% per annum 1.00% per annum 2.00% per annum 0.35% per annum IV Less than 2.00:1.00 but greater than or equal to 1.50:1.00 1.75% per annum 0.75% per annum 1.75% per annum 0.30% per annum V Less than 1.50:1.00 1.50% per annum 0.50% per annum 1.50% per annum 0.30% per annum The loans and other obligations outstanding under the SunTrust Restated Credit Agreement currently bear applicable margin and fees based on Pricing Level III described above.The loans outstanding under the SunTrust Restated Credit Agreement currently bear interest based on a three month Eurodollar election of 1.95% , plus the applicable margin. Payments: The scheduled amortization of the SunTrust Term Loan began December 31, 2018 with quarterly payments of $0.8 million , representing annual amortization equal to 5.00% of the original principal amount of the SunTrust Term Loan. At scheduled intervals, the quarterly amortization increases by $0.4 million , with the remaining balance to be paid at maturity." id="sjs-B4">CREDIT FACILITIES AND NOTES PAYABLE As of March 31, 2020 and December 31, 2019 our debt obligations consisted of the following (in thousands): March 31, December 31, First Lien Term Loans collateralized by RadNet's tangible and intangible assets $ 640,125 $ 649,824 Discounts on First Lien Term Loans (12,609 ) (13,579 ) Term Loan Agreement collateralized by NJIN's tangible and intangible assets 54,750 55,875 Revolving Credit Facilities 80,000 — Equipment notes payable at interest rates ranging from 4.4% to 5.6%, due through 2020, collateralized by medical equipment 199 275 Total debt obligations 762,465 692,395 Less: current portion (39,615 ) (39,691 ) Long term portion debt obligations $ 722,850 $ 652,704 Senior Secured Credit Facilities At March 31, 2020 , our Barclays credit facilities were comprised of one tranche of term loans (“First Lien Term Loans”) and a revolving credit facility of $137.5 million (the “Barclays Revolving Credit Facility”), both of which are provided pursuant to the Amended and Restated First Lien Credit and Guaranty Agreement dated as of July 1, 2016 (as amended, the “First Lien Credit Agreement”). At March 31, 2020 , our SunTrust credit facilities, which relate to our consolidated subsidiary NJIN, were comprised of one term loan (the "SunTrust Term Loan") and a revolving credit facility of $30.0 million (the "SunTrust Revolving Credit Facility") both of which are provided pursuant to the SunTrust Restated Credit Agreement (as described below). As of March 31, 2020 , we were in compliance with all covenants under our credit facilities. Deferred financing costs at March 31, 2020 , net of accumulated amortization, was $1.4 million and is specifically related to our Barclays Revolving Credit Facility. Included in our condensed consolidated balance sheets at March 31, 2020 are $640.1 million of First Lien Term Loans and $54.8 million of SunTrust Term Loan debt for a combined total of $694.9 million of total term loan debt (exclusive of unamortized discounts of $12.6 million ) in thousands: Face Value Discount Total Carrying First Lien Term Loans $ 640,125 $ (12,609 ) $ 627,516 SunTrust Term Loan 54,750 — 54,750 Total Term Loans $ 694,875 $ (12,609 ) $ 682,266 We had an $80.0 million balance under our $137.5 million Barclays Revolving Credit Facility at March 31, 2020 and have reserved an additional $6.7 million for certain letters of credit. The remaining $50.8 million of our Barclays Revolving Credit Facility was available to draw upon as of March 31, 2020 . We had no balance under our $30.0 million SunTrust Revolving Credit Facility related to our consolidated subsidiary NJIN at March 31, 2020 . The following relates to our Barclays financing activities: 2019 Amendments to the First Lien Credit Agreement: On April 18, 2019 we entered into the following two new amendments to the First Lien Credit Agreement: (i) Amendment No. 6, Consent and Incremental Joinder Agreement to Credit and Guaranty Agreement dated as of April 18, 2019 (the “Sixth Amendment”); and (ii) Amendment No. 7 to Credit and Guaranty Agreement dated as of April 18, 2019 (the “Seventh Amendment”). The Sixth Amendment amended the First Lien Credit Agreement to issue $100.0 million in incremental First Lien Term Loans and to add an additional $20.0 million of revolving commitments to the Barclay's Revolving Credit Facility. The Seventh Amendment amends the First Lien Credit Agreement to extend the maturity date of the Barclays Revolving Credit Facility by an additional two years to July 1, 2023, unless sooner terminated in accordance with the terms of the First Lien Credit Agreement. Total issue costs added in relation to the amendments in 2019 amounted to approximately $4.4 million . Of this amount, $2.1 million was identified and capitalized as discount on debt, $0.7 million was capitalized as deferred financing costs, and $1.6 million was expensed. Amounts capitalized will be amortized over the remaining term of the agreement. Terms of Barclays Credit Facilites: First Lien Term Loans: Interest: First Lien Term Loans bear interest at either an Adjusted Eurodollar Rate or a Base Rate plus an applicable margin. Rates of the applicable margin for borrowing under the First Lien Credit Agreement will alter depending on our leverage ratio, according to the following schedule: First Lien Leverage Ratio Eurodollar Rate Spread Base Rate Spread > 5.50x 4.50% 3.50% > 4.00x but ≤ 5.50x 3.75% 2.75% >3.50x but ≤ 4.00x 3.50% 2.50% ≤ 3.50x 3.25% 2.25% At March 31, 2020 the effective Adjusted Eurodollar Rate and the Base Rate for the First Lien Term Loans was 1.85% and 3.25% , respectively and the applicable margin for Adjusted Eurodollar Rate and Base Rate borrowings was 3.50% and 2.50% , respectively. Payments. The First Lien Credit Agreement provides for quarterly payments of principal under the First Lien Term Loans in the amount of approximately $9.7 million . Maturity Date. The maturity date for the First Lien Term Loans shall be on the earliest to occur of (i) July 1, 2023, and (ii) the date on which all First Lien Term Loans shall become due and payable in full under the First Lien Credit Agreement, whether by acceleration or otherwise. Additional Borrowing. Under the First Lien Credit Agreement, we can elect to request (i) an increase to the existing Barclays Revolving Credit Facility and/or (ii) issue additional First Lien Term Loans, provided that the aggregate amount of such increases and additions does not exceed (a) $100.0 million and (b) as long as the First Lien Leverage Ratio (as defined in the First Lien Credit Agreement) would not exceed 4.00:1.00 after giving effect to such incremental facilities, an uncapped amount of incremental facilities, in each case subject to the conditions and limitations set forth in the First Lien Credit Agreement. Each lender approached to provide all or a portion of any incremental facility may elect or decline, in its sole discretion, to provide an incremental commitment or loan. Barclays Revolving Credit Facility: Interest: Revolving loans borrowed under the Revolving Credit Facility bear interest at either an Adjusted Eurodollar Rate or a Base Rate plus an applicable margin. Rates of the applicable margin for borrowing under the Revolving Credit Facility also change depending on our leverage ratio and are the same rates as noted in the schedule above for First Lien Term Loans. As of March 31, 2020 , the effective interest rate payable on revolving loans was 5.75% . Letters of Credit: For letters of credit issued under the Revolving Credit Facility, letter of credit fees accrue at the applicable margin of Adjusted Eurodollar Rate, currently 3.50% , and fronting fees accrue at 0.25% per annum, in each case on the average aggregate daily maximum amount available to be drawn under all letters of credit issued under the First Lien Credit Agreement. In addition a commitment fee of 0.50% per annum accrues on the unused revolver commitments under the Revolving Credit Facility. Maturity Date: The Revolving Credit Facility will terminate on the earliest to occur of (i) July 1, 2023, (ii) the date we voluntarily agree to permanently reduce the Revolving Credit Facility to zero pursuant to section 2.13(b) of the First Lien Credit Agreement, and (iii) the date the Revolving Credit Facility is terminated due to specific events of default pursuant to section 8.01 of the First Lien Credit Agreement. The following relates to our SunTrust financing activities: Amended and Restated Revolving Credit and Term Loan Agreement On August 31, 2018, our subsidiary, NJIN, entered into the Amended and Restated Revolving Credit and Term Loan Agreement (as amended, the "SunTrust Restated Credit Agreement") as borrower with SunTrust Bank and other financial institutions as lenders and to provide NJIN aggregate credit facilities of $90.0 million as categorized below: SunTrust Term Loan: Pursuant to the SunTrust Restated Credit Agreement, the lenders thereunder made a term loan to NJIN in the amount of $60.0 million . The SunTrust Term Loan is repayable in scheduled quarterly amounts (as described below) and has a maturity date of the earlier of (i) August 31, 2023 and (ii) the date on which the principal amount of the SunTrust Term Loan has been declared or automatically has become due and payable (whether by acceleration or otherwise). SunTrust Revolving Credit Facility: The SunTrust Restated Credit Agreement establishes a $30.0 million revolving credit facility available to NJIN for funding requirements. The SunTrust Revolving Credit Facility terminates on the earliest of (i) August 31, 2023, (ii) the voluntary termination thereof by NJIN pursuant to Section 2.8 of the SunTrust Restated Credit Agreement, or (iii) the date on which all amounts outstanding under the SunTrust Restated Credit Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise). NJIN has not borrowed against the revolving credit line. Interest: Interest rates and fees of the applicable margin for borrowing under the SunTrust Restated Credit Agreement adjust depending on our leverage ratio, according to the following table: Pricing Level Leverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for Base Rate Loans Applicable Margin for Letter of Credit Fees Applicable Percentage for Commitment Fee I Greater than or equal to 3.00:1.00 2.75% per annum 1.75% per annum 2.75% per annum 0.45% per annum II Less than 3.00:1.00 but greater than or equal to 2.50:1.00 2.25% per annum 1.25% per annum 2.25% per annum 0.40% per annum III Less than 2.50:1.00 but greater than or equal to 2.00:1.00 2.00% per annum 1.00% per annum 2.00% per annum 0.35% per annum IV Less than 2.00:1.00 but greater than or equal to 1.50:1.00 1.75% per annum 0.75% per annum 1.75% per annum 0.30% per annum V Less than 1.50:1.00 1.50% per annum 0.50% per annum 1.50% per annum 0.30% per annum The loans and other obligations outstanding under the SunTrust Restated Credit Agreement currently bear applicable margin and fees based on Pricing Level III described above.The loans outstanding under the SunTrust Restated Credit Agreement currently bear interest based on a three month Eurodollar election of 1.95% , plus the applicable margin. Payments: The scheduled amortization of the SunTrust Term Loan began December 31, 2018 with quarterly payments of $0.8 million , representing annual amortization equal to 5.00% of the original principal amount of the SunTrust Term Loan. At scheduled intervals, the quarterly amortization increases by $0.4 million , with the remaining balance to be paid at maturity.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Incentive Plans We have one long-term equity incentive plan which we refer to as the 2006 Equity Incentive Plan, which we first amended and restated as of April 20, 2015 and again on March 9, 2017 (the "Restated Plan”). The Restated Plan was approved by our stockholders at our annual stockholders meeting on June 8, 2017. We have reserved for issuance under the Restated Plan 14,000,000 shares of common stock. We can issue options (incentive and non-qualified), stock awards, stock appreciation rights, stock units and cash awards under the Restated Plan. Options Certain options granted under the Restated Plan to employees are intended to qualify as incentive stock options under existing tax regulations. Stock options generally vest over 3 to 5 years and expire 5 to 10 years from the date of grant. As of March 31, 2020 , we had outstanding options to acquire 527,899 shares of our common stock, of which options to acquire 298,863 shares were exercisable. The following summarizes all of our option transactions for the three months ended March 31, 2020 : Outstanding Options Under the 2006 Plan Shares Weighted Average Exercise price Per Common Share Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Balance, December 31, 2019 478,951 $ 8.21 Granted 48,948 20.43 Balance, March 31, 2020 527,899 9.34 7.00 $ 1,170,297 Exercisable at March 31, 2020 298,863 7.48 6.24 940,098 Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on March 31, 2020 and the exercise price, multiplied by the number of in-the-money options as applicable) that would have been received by the holder had all holders exercised their options on March 31, 2020 . No options were exercised during the three months ended March 31, 2020 . As of March 31, 2020 , total unrecognized stock-based compensation expense related to non-vested employee awards was $1.0 million which is expected to be recognized over a weighted average period of approximately 2.05 years . Restricted Stock Awards The Restated Plan permits the award of restricted stock awards (“RSA’s”). As of March 31, 2020 , we have issued a total of 6,497,244 RSA’s of which 314,962 were unvested at March 31, 2020 . The following summarizes all unvested RSA’s activities during the three months ended March 31, 2020 : RSA's Weighted-Average Remaining Contractual Term (Years) Weighted-Average Fair Value RSA's unvested at December 31, 2019 387,934 $ 11.61 Changes during the period Granted 378,968 $ 21.30 Vested (451,940 ) $ 15.86 RSA's unvested at March 31, 2020 314,962 1.34 $ 16.00 We determine the fair value of all RSA’s based on the closing price of our common stock on the award date. Other stock bonus awards The Restated Plan also permits the award of stock bonuses not subject to any future service period. These awards are valued and expensed based on the closing price of our common stock on the date of award. During the three months ended March 31, 2020 awards totaling 1,078 shares were granted. Plan summary In summary, of the 14,000,000 shares of common stock reserved for issuance under the Restated Plan, at March 31, 2020 , we had issued 15,304,688 total shares between options, RSA’s and other stock awards. With options canceled and RSA’s forfeited amounting to 3,281,040 and 61,703 shares, respectively, there remain 2,038,055 shares available under the Restated Plan for future issuance.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Acquisitions: On March 11, 2020, we announced a definitive agreement to acquire DeepHealth, Inc.. We had expected to issue 1.0 million RadNet common stock shares on April 1, 2020 to complete the acquisition. The anticipated closing date, which remains subject to customary closing conditions, has been extended to June 1, 2020. Payments on credit facilities: On April 10, 2020, we repaid in full the March 31, 2020 outstanding balance of $80.0 million on our Barclays Revolving Credit Facility. As of May 7, 2020, RadNet had no outstanding borrowings under its revolving credit facility. Coronavirus Economic Impact Payments: We received approximately $39.0 million in advanced Medicare payments from the Centers for Medicare and Medicaid Services ("CMS"). These payments are required to be repaid to CMS beginning 120 days after their receipt through the adjudication of Medicare claims for future services over a three month period. We have received financial stimulus from the U.S. Department of Health & Human Services under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of approximately $14.9 million , and have applied for additional funding under the Act.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
REVENUES	REVENUES - Our revenues generally relate to net patient fees received from various payors and patients themselves under contracts in which our performance obligations are to provide diagnostic services to the patients. Revenues are recorded during the period when our obligations to provide diagnostic services are satisfied. Our performance obligations for diagnostic services are generally satisfied over a period of less than one day. The contractual relationships with patients, in most cases, also involve a third-party payor (Medicare, Medicaid, managed care health plans and commercial insurance companies, including plans offered through the health insurance exchanges) and the transaction prices for the services provided are dependent upon the terms provided by (Medicare and Medicaid) or negotiated with (managed care health plans and commercial insurance companies) the third-party payors. The payment arrangements with third-party payors for the services we provide to the related patients typically specify payments at amounts less than our standard charges and generally provide for payments based upon predetermined rates per diagnostic services or discounted fee-for-service rates. Management continually reviews the contractual estimation process to consider and incorporate updates to laws and regulations and the frequent changes in managed care contractual terms resulting from contract renegotiations and renewals. As it relates to the consolidated medical group, this service fee revenue includes payments for both the professional medical interpretation revenue recognized by them as well as the payment for all other aspects related to our providing the imaging services, for which we earn management fees. As it relates to others centers, this service fee revenue is earned through providing the use of our diagnostic imaging equipment and the provision of technical services as well as providing administration services such as clerical and administrative personnel, bookkeeping and accounting services, billing and collection, provision of medical and office supplies, secretarial, reception and transcription services, maintenance of medical records, and advertising, marketing and promotional activities. Our revenues are based upon the estimated amounts we expect to be entitled to receive from patients and third-party payors. Estimates of contractual allowances under managed care and commercial insurance plans are based upon the payment terms specified in the related contractual agreements. Revenues related to uninsured patients and copayment and deductible amounts for patients who have health care coverage may have discounts applied (uninsured discounts and contractual discounts). We also record estimated implicit price concessions (based primarily on historical collection experience) related to uninsured accounts to record self-pay revenues at the estimated amounts we expect to collect. Under capitation arrangements with various health plans, we earn a per-enrollee amount each month for making available diagnostic imaging services to all plan enrollees under the capitation arrangement. Revenue under capitation arrangements is recognized in the period in which we are obligated to provide services to plan enrollees under contracts with various health plans. We typically experience some seasonality to our revenue stream. During the first quarter of each year we generally experience the lowest volumes of procedures and the lowest level of revenue for any quarter during the year. It is common for inclement weather to result in patient appointment cancellations and, in some cases, imaging center closures. Second, in recent years, we have observed greater participation in high deductible health plans by patients. As these high deductibles reset in January for most of these patients, we have observed that patients utilize medical services less during the first quarter, when securing medical care will result in significant out-of-pocket expenditures. Our total revenues during the three months ended March 31, 2020 and 2019 are presented in the table below based on an allocation of the estimated transaction price with the patient between the primary patient classification of insurance coverage (in thousands): Three Months Ended 2020 2019 Commercial insurance $ 155,461 $ 151,678 Medicare 57,749 54,199 Medicaid 6,628 7,120 Workers' compensation/personal injury 10,274 11,027 Other patient revenue 5,662 5,835 Management fee revenue 2,567 2,117 Teleradiology and Software revenue 3,770 4,386 Other 6,222 6,310 Service fee revenue 248,333 242,672 Revenue under capitation arrangements 33,231 28,877 Total revenue $ 281,564 $ 271,549
RECLASSIFICATION	RECLASSIFICATION – We have reclassified certain amounts within property and equipment and goodwill to conform to our 2020 presentation.
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE - Substantially all of our accounts receivable are due under fee-for-service contracts from third party payors, such as insurance companies and government-sponsored healthcare programs, or directly from patients. Services are generally provided pursuant to one-year contracts with healthcare providers. We continuously monitor collections from our payors and maintain an allowance for bad debts based upon specific payor collection issues that we have identified and our historical experience.
DEFERRED FINANCING COSTS	DEFERRED FINANCING COSTS - Costs of financing are deferred and amortized using the effective interest rate method. Deferred financing costs, net of accumulated amortization, were $1.4 million and $1.6 million , as of March 31, 2020 and December 31, 2019 , respectively and related to our line of credit. In conjunction with our Sixth and Seventh Amendments to our First Lien Credit Agreement (as defined below), a net addition of approximately $0.7 million
INVENTORIES	INVENTORIES - Inventories, consisting mainly of medical supplies, are stated at the lower of cost or net realizable value with cost determined by the first-in, first-out method.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT - Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is performed using the straight-line method over the estimated useful lives of the assets acquired, which range from 3 to 15 years . Leasehold improvements are amortized at the lesser of lease term or their estimated useful lives, which range from 3 to 15 years . Maintenance and repairs are charged to expense as incurred.
BUSINESS COMBINATION	BUSINESS COMBINATION - When the qualifications for business combination accounting treatment are met, it requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations.
GOODWILL AND INDEFINITE LIVED INTANGIBLES	GOODWILL AND INDEFINITE LIVED INTANGIBLES - Goodwill at March 31, 2020 totaled $444.4 million . Indefinite lived intangible assets at March 31, 2020 were $11.3 million . Goodwill and Indefinite Lived Intangibles are recorded as a result of business combinations. When we determine the carrying value of reporting unit exceeds its fair value an impairment charge would be recognized and should not exceed the total amount of goodwill allocated to that reporting unit. We tested goodwill and indefinite lived intangibles for impairment on October 1, 2019, noting no impairment. In addition to the annual impairment test, we regularly assess if an event has occurred which would require interim impairment testing. We considered the current and expected future economic and market conditions surrounding the novel strain of coronavirus ("COVID-19") pandemic and did not identify an indication of goodwill impairment being more likely than not through March 31, 2020 . Activity in goodwill for the three months ended March 31, 2020 is provided below (in thousands): Balance as of December 31, 2019 $ 441,973 Goodwill acquired through the acquisition of Olney Open MRI, LLC 601 Goodwill acquired through the acquisition of MRI at Woodbridge, LLC 1,833 Balance as of March 31, 2020 $ 444,407
INCOME TAXES	INCOME TAXES - Income tax expense is computed using an asset and liability method and using expected annual effective tax rates. Under this method, deferred income tax assets and liabilities result from temporary differences in the financial reporting bases and the income tax reporting bases of assets and liabilities. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefit that, based on available evidence, is not expected to be realized. When it appears more likely than not that deferred taxes will not be realized, a valuation allowance is recorded to reduce the deferred tax asset to its estimated realizable value. For net deferred tax assets we consider estimates of future taxable income in determining whether our net deferred tax assets are more likely than not to be realized. We recorded an income tax benefit of $4.4 million , or an effective tax rate of 23.8% , for the three months ended March 31, 2020 compared to an income tax benefit of $1.2 million , or an effective tax rate of 39.0% for the three months ended March 31, 2019 . The income tax rates for the three months ended March 31, 2020 diverge from the federal statutory rate due to (i) noncontrolling interests due to the controlled partnerships; (ii) effects of state income taxes; and (iii) excess tax benefits attributable to share-based compensation.
LEASES	LEASES - We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities, and long term operating lease liability in our consolidated balance sheets. Finance leases are included in property and equipment, current finance lease liability, and long-term finance lease liability in our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. We include options to extend a lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For a contract in which we are a lessee that contains fixed payments for both lease and non-lease components, we have elected to account for the components as a single lease component, as permitted. For finance leases, interest expense on the lease liability is recognized using the effective interest method and amortization of the right-of-use asset is recognized on a straight-line basis over the shorter of the estimated useful life of the asset or the lease term. ROU assets are
EQUITY BASED COMPENSATION	EQUITY BASED COMPENSATION – We have one long-term incentive plan that we adopted in 2006 and which we first amended and restated as of April 20, 2015, and again on March 9, 2017 (the “Restated Plan”). The Restated Plan was approved by our stockholders at our annual stockholders meeting on June 8, 2017. We have reserved for issuance under the Restated Plan 14,000,000 shares of common stock. We can issue options, stock awards, stock appreciation rights, stock units and cash awards under the Restated Plan. Certain options granted under the Restated Plan to employees are intended to qualify as incentive stock options under existing tax regulations. Stock options and warrants generally vest over three to five years and expire five to ten years from date of grant. The compensation expense recognized for all equity-based awards is recognized over the awards’ service periods. Equity-based compensation is classified in operating expenses within the same line item as the majority of the cash compensation paid to employees. See Note 7, Stock-Based Compensation, for more information.
COMPREHENSIVE INCOME	COMPREHENSIVE LOSS - ASC 220 establishes rules for reporting and displaying comprehensive loss or income and its components. Our unrealized gains or losses on foreign currency translation adjustments, interest rate cap and swap agreements are included in comprehensive loss and are included in the consolidated statements of comprehensive loss for the three months ended March 31, 2020 and 2019
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS 2016 CAPS In the fourth quarter of 2016, we entered into two forward interest rate cap agreements ("2016 Caps"). The 2016 Caps will mature in September and October 2020. The 2016 Caps had notional amounts of $150,000,000 and $350,000,000 , respectively, which were designated at inception as cash flow hedges of future cash interest payments associated with portions of our variable rate bank debt. Under these arrangements, the Company purchased a cap on 3 month LIBOR at 2.0% . We incurred a $5.3 million premium to enter into the 2016 Caps which is being accrued over the life of the agreements. At inception, we designated our 2016 Caps as cash flow hedges of floating-rate borrowings. In accordance with ASC Topic 815, derivatives that have been designated and qualify as cash flow hedging instruments are reported at fair value. The gain or loss of the hedge (i.e. change in fair value) is reported as a component of comprehensive loss in the consolidated statement of equity. See Fair Value Measurements section below for the fair value of the 2016 Caps at March 31, 2020 . A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2016 Caps is as follows (amounts in thousands): For the three months ended March 31, 2020 Account January 1, 2020 Balance Amount of comprehensive gain recognized on derivative net of taxes March 31, 2020 Balance Location Accumulated Other Comprehensive Loss, net of taxes (1,877 ) 280 (1,597 ) Liabilities and Equity For the twelve months ended December 31, 2019 Account January 1, 2019 Balance Amount of comprehensive gain recognized on derivative net of taxes December 31, 2019 Balance Location Accumulated Other Comprehensive Loss, net of taxes 2,506 (4,383 ) (1,877 ) Liabilities and Equity 2019 SWAPS In the second quarter of 2019, we entered into four forward interest rate agreements ("2019 swaps"). The 2019 swaps have total notional amounts of $500,000,000 , consisting of two agreements of $50,000,000 each and two agreements of $200,000,000 each. The 2019 swaps will secure a constant interest rate associated with portions of our variable rate bank debt and have an effective date of October 13, 2020. They will mature in October 2023 for the smaller notional and October 2025 for the larger notional. Under these arrangements, we arranged the 2019 swaps with locked in 1 month LIBOR rates at 1.96% for the $100,000,000 notional and at 2.05% for the $400,000,000 notional. As of the effective date, we will be liable for premium payments if interest rates decline below arranged rates, but will receive interest payments if rates remain above the arranged rates. At inception, we designated our 2019 swaps as cash flow hedges of floating-rate borrowings. In accordance with ASC Topic 815, derivatives that have been designated and qualify as cash flow hedging instruments are reported at fair value. The gain or loss of the hedge (i.e. change in fair value) is reported as a component of comprehensive loss in the consolidated statement of equity. See Fair Value Measurements section below for the fair value of the 2019 swaps at March 31, 2020 . A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2019 swaps is as follows (amounts in thousands): For the three months ended March 31, 2020 Account January 1, 2020 Balance Amount of comprehensive loss recognized on derivative net of taxes March 31, 2020 Balance Location Accumulated Other Comprehensive Loss, net of taxes $ (5,870 ) $ (18,829 ) $ (24,699 ) Liabilities and Equity For the twelve months ended December 31, 2019 Account January 1, 2019 Balance Amount of comprehensive loss recognized on derivative net of taxes December 31, 2019 Balance Location Accumulated Other Comprehensive Loss, net of taxes $ — $ (5,870 ) $ (5,870 ) Liabilities and Equity
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS – Assets and liabilities subject to fair value measurements are required to be disclosed within a fair value hierarchy. The fair value hierarchy ranks the quality and reliability of inputs used to determine fair value. Accordingly, assets and liabilities carried at, or permitted to be carried at, fair value are classified within the fair value hierarchy in one of the following categories based on the lowest level input that is significant to a fair value measurement: Level 1—Fair value is determined by using unadjusted quoted prices that are available in active markets for identical assets and liabilities. Level 2—Fair value is determined by using inputs other than Level 1 quoted prices that are directly or indirectly observable. Inputs can include quoted prices for similar assets and liabilities in active markets or quoted prices for identical assets and liabilities in inactive markets. Related inputs can also include those used in valuation or other pricing models such as interest rates and yield curves that can be corroborated by observable market data. Level 3—Fair value is determined by using inputs that are unobservable and not corroborated by market data. Use of these inputs involves significant and subjective judgment. Derivatives: The tables below summarize the estimated fair values of certain of our financial assets that are subject to fair value measurements, and the classification of these assets on our condensed consolidated balance sheets, as follows (in thousands): As of March 31, 2020 Level 1 Level 2 Level 3 Total Current and long term liabilities 2016 caps - Interest Rate Contracts $ — $ 727 $ — $ 727 2019 swaps - Interest Rate Contracts $ — $ 34,937 $ — $ 34,937 As of December 31, 2019 Level 1 Level 2 Level 3 Total Current and long term liabilities 2016 caps - Interest Rate Contracts $ — $ 1,081 $ — $ 1,081 2019 swaps - Interest Rate Contracts $ — $ 9,477 $ — $ 9,477 The estimated fair value of these contracts was determined using Level 2 inputs. More specifically, the fair value was determined by calculating the value of the difference between the fixed interest rate of the interest rate swaps and the counterparty’s forward LIBOR curve. The forward LIBOR curve is readily available in the public markets or can be derived from information available in the public markets. Long Term Debt: The table below summarizes the estimated fair value compared to our face value of our long-term debt as follows (in thousands): As of March 31, 2020 Level 1 Level 2 Level 3 Total Fair Value Total Face Value First Lien Term Loans and SunTrust Term Loan $ — $ 595,656 $ — $ 595,656 $ 694,875 As of December 31, 2019 Level 1 Level 2 Level 3 Total Total Face Value First Lien Term Loans and SunTrust Term Loan $ — $ 708,948 $ — $ 708,948 $ 705,699 As of March 31, 2020 our Barclays revolving credit facility had an $80.0 million balance outstanding while at December 31, 2019 , our Barclays revolving credit facility had no aggregate principal amount outstanding. Our SunTrust revolving credit facility relating to our consolidated subsidiary NJIN, had no principal amount outstanding at March 31, 2020 and at December 31, 2019 . The estimated fair value of our long-term debt, which is discussed in Note 6, was determined using Level 2 inputs primarily related to comparable market prices. We consider the carrying amounts of cash and cash equivalents, receivables, other current assets, current liabilities and other notes payables to approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization or payment. Additionally, we consider the carrying amount of our finance lease obligations to approximate their fair value because the weighted average interest rate used to formulate the carrying amounts approximates current market rates.
EARNINGS PER SHARE	EARNINGS PER SHARE - Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data): Three Months Ended March 31, 2020 2019 Net loss attributable to RadNet, Inc.'s common stockholders $ (16,358 ) $ (3,733 ) BASIC AND DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO RADNET, INC.'S COMMON STOCKHOLDERS Weighted average number of common shares outstanding during the period 50,294,329 49,553,694 Basic and diluted net loss per share attributable to RadNet, Inc.'s common stockholders $ (0.33 ) $ (0.08 )
EQUITY INVESTMENTS AT FAIR VALUE	EQUITY INVESTMENTS AT FAIR VALUE–Accounting guidance requires entities to measure equity investments at fair value, with any changes in fair value recognized in net income. If there is no readily determinable fair value, the guidance allows entities the ability to measure investments at cost less impairment.
INVESTMENTS IN JOINT VENTURES	INVESTMENT IN JOINT VENTURES – We have 12 unconsolidated joint ventures with ownership interests ranging from 35% to 55% . These joint ventures represent partnerships with hospitals, health systems or radiology practices and were formed for the purpose of owning and operating diagnostic imaging centers. Professional services at the joint venture diagnostic imaging centers are performed by contracted radiology practices or a radiology practice that participates in the joint venture. Our investment in these joint ventures is accounted for under the equity method, since RadNet does not have a controlling financial interest in such ventures. We evaluate our investment in joint ventures, including cost in excess of book value (equity method goodwill) for impairment whenever indicators of impairment exist. No indicators of impairment existed as of March 31, 2020 . Joint venture investment and financial information The following table is a summary of our investment in joint ventures during the three months ended March 31, 2020 (in thousands): Balance as of December 31, 2019 $ 34,470 Equity in earnings in these joint ventures 1,955 Balance as of March 31, 2020 $ 36,425 We charged management service fees from the centers underlying these joint ventures of approximately $2.6 million and $2.1 million for the quarters ended March 31, 2020 and 2019 , respectively. We eliminate any unrealized portion of our management service fees with our equity in earnings of joint ventures. The following table is a summary of key balance sheet data for these joint ventures as of March 31, 2020 and December 31, 2019 and income statement data for the three months ended March 31, 2020 and 2019 (in thousands): Balance Sheet Data: March 31, 2020 December 31, 2019 Current assets $ 28,618 $ 27,427 Noncurrent assets 69,819 61,037 Current liabilities (9,829 ) (9,217 ) Noncurrent liabilities (23,988 ) (18,872 ) Total net assets $ 64,620 $ 60,375 Book value of RadNet joint venture interests $ 29,985 $ 28,001 Cost in excess of book value of acquired joint venture interests and other 6,440 6,469 Total value of Radnet joint venture interests $ 36,425 $ 34,470 Total book value of other joint venture partner interests $ 34,635 $ 32,374 Income statement data for the three months ended March 31, 2020 2019 Net revenue $ 26,341 $ 27,254 Net income $ 4,245 $ 3,952
RECENT ACCOUNTING AND REPORTING STANDARDS	RECENT ACCOUNTING AND REPORTING STANDARDS Accounting standards adopted In June 2016, the FASB issued ASU No. 2016-13 ("ASU 2016-13), Financial Instruments - Credit Losses. ASU 2016-13 replaces the incurred loss methodology previously utilized for valuing financial instruments with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. We prospectively adopted the standard on January 1, 2020 and the adoption did not have a material impact to the condensed consolidated financial statements, resulting in no adjustments to our prior year earnings. See the Accounts Receivable section to Note 2 for further information on our allowances for credit losses. In August 2018, the FASB issued ASU No. 2018-15 (“ASU 2018-15”), Intangibles-Goodwill and Other-Internal-Use Software. ASU 2018-15 aligns the requirements for deferring implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This ASU is effective in the first quarter of 2020 with early adoption permitted and can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The adoption of this standard resulted in an insignificant amount of additional assets recorded on our condensed consolidated balance sheet. In March 2020, the FASB issued ASU 2020-03 ("ASU 2020-03"), Codification Improvements to Financial Instruments . The amendments in this update represent changes to clarify or improve the codification and correct unintended application. ASU 2020-03 was effective immediately upon issuance and its adoption did not have a material impact on our financial statements. In August 2018, the FASB issued ASU No. 2018-13 ("ASU 2018-13"), Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements . This standard removes, modifies and adds certain disclosures related to recurring and nonrecurring fair value measurements. We adopted ASC 2018-13 effective January 1, 2020 and it had no effect on our disclosures. Accounting standards not yet adopted In December 2019, the FASB issued ASU 2019-12 ("ASU 2019-12"), Income Taxes (Topic 740). ASU 2019-12 removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other areas of the standard. ASU 2019-12 will be effective beginning in the first quarter of 2021. Early adoption is permitted. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. We are currently evaluating the impact this ASU will have on our financial statements and related disclosures as well as the timing of adoption. In January 2020, the FASB issued ASU 2020-01 ("ASU 2020-01"), Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815), clarifying the interaction between accounting standards related to equity securities, equity method investments, and certain derivatives. ASU 2020-01 is effective for fiscal years beginning after December 15, 2020. We do not expect the adoption of this guidance will have a material impact on our financial statements. In March 2020, the FASB issued ASU 2020-04 ("ASU 2020-04"), Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting . ASU 2020-04 provides optional expedients and exceptions for applying generally accepted accounting principles to certain contract modifications and hedging relationships that reference London Inter-bank Offered Rate (LIBOR) or another reference rate expected to be discontinued. The guidance is effective upon issuance and generally can be applied through December 31, 2022. We are currently evaluating the potential impact of ASU 2020-04 on our financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Service Fee Revenue	Our total revenues during the three months ended March 31, 2020 and 2019 are presented in the table below based on an allocation of the estimated transaction price with the patient between the primary patient classification of insurance coverage (in thousands): Three Months Ended 2020 2019 Commercial insurance $ 155,461 $ 151,678 Medicare 57,749 54,199 Medicaid 6,628 7,120 Workers' compensation/personal injury 10,274 11,027 Other patient revenue 5,662 5,835 Management fee revenue 2,567 2,117 Teleradiology and Software revenue 3,770 4,386 Other 6,222 6,310 Service fee revenue 248,333 242,672 Revenue under capitation arrangements 33,231 28,877 Total revenue $ 281,564 $ 271,549
Schedule of goodwill and other intangible assets	Activity in goodwill for the three months ended March 31, 2020 is provided below (in thousands): Balance as of December 31, 2019 $ 441,973 Goodwill acquired through the acquisition of Olney Open MRI, LLC 601 Goodwill acquired through the acquisition of MRI at Woodbridge, LLC 1,833 Balance as of March 31, 2020 $ 444,407
Effect of derivative instruments on comprehensive income	A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2019 swaps is as follows (amounts in thousands): For the three months ended March 31, 2020 Account January 1, 2020 Balance Amount of comprehensive loss recognized on derivative net of taxes March 31, 2020 Balance Location Accumulated Other Comprehensive Loss, net of taxes $ (5,870 ) $ (18,829 ) $ (24,699 ) Liabilities and Equity For the twelve months ended December 31, 2019 Account January 1, 2019 Balance Amount of comprehensive loss recognized on derivative net of taxes December 31, 2019 Balance Location Accumulated Other Comprehensive Loss, net of taxes $ — $ (5,870 ) $ (5,870 ) Liabilities and Equity A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2016 Caps is as follows (amounts in thousands): For the three months ended March 31, 2020 Account January 1, 2020 Balance Amount of comprehensive gain recognized on derivative net of taxes March 31, 2020 Balance Location Accumulated Other Comprehensive Loss, net of taxes (1,877 ) 280 (1,597 ) Liabilities and Equity For the twelve months ended December 31, 2019 Account January 1, 2019 Balance Amount of comprehensive gain recognized on derivative net of taxes December 31, 2019 Balance Location Accumulated Other Comprehensive Loss, net of taxes 2,506 (4,383 ) (1,877 ) Liabilities and Equity
Schedule of fair value of assets and liabilities	The tables below summarize the estimated fair values of certain of our financial assets that are subject to fair value measurements, and the classification of these assets on our condensed consolidated balance sheets, as follows (in thousands): As of March 31, 2020 Level 1 Level 2 Level 3 Total Current and long term liabilities 2016 caps - Interest Rate Contracts $ — $ 727 $ — $ 727 2019 swaps - Interest Rate Contracts $ — $ 34,937 $ — $ 34,937 As of December 31, 2019 Level 1 Level 2 Level 3 Total Current and long term liabilities 2016 caps - Interest Rate Contracts $ — $ 1,081 $ — $ 1,081 2019 swaps - Interest Rate Contracts $ — $ 9,477 $ — $ 9,477 The table below summarizes the estimated fair value compared to our face value of our long-term debt as follows (in thousands): As of March 31, 2020 Level 1 Level 2 Level 3 Total Fair Value Total Face Value First Lien Term Loans and SunTrust Term Loan $ — $ 595,656 $ — $ 595,656 $ 694,875 As of December 31, 2019 Level 1 Level 2 Level 3 Total Total Face Value First Lien Term Loans and SunTrust Term Loan $ — $ 708,948 $ — $ 708,948 $ 705,699
Earnings per share	Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data): Three Months Ended March 31, 2020 2019 Net loss attributable to RadNet, Inc.'s common stockholders $ (16,358 ) $ (3,733 ) BASIC AND DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO RADNET, INC.'S COMMON STOCKHOLDERS Weighted average number of common shares outstanding during the period 50,294,329 49,553,694 Basic and diluted net loss per share attributable to RadNet, Inc.'s common stockholders $ (0.33 ) $ (0.08 )
Investment in joint ventures	The following table is a summary of our investment in joint ventures during the three months ended March 31, 2020 (in thousands): Balance as of December 31, 2019 $ 34,470 Equity in earnings in these joint ventures 1,955 Balance as of March 31, 2020 $ 36,425
Joint venture investment and financial information	The following table is a summary of key balance sheet data for these joint ventures as of March 31, 2020 and December 31, 2019 and income statement data for the three months ended March 31, 2020 and 2019 (in thousands): Balance Sheet Data: March 31, 2020 December 31, 2019 Current assets $ 28,618 $ 27,427 Noncurrent assets 69,819 61,037 Current liabilities (9,829 ) (9,217 ) Noncurrent liabilities (23,988 ) (18,872 ) Total net assets $ 64,620 $ 60,375 Book value of RadNet joint venture interests $ 29,985 $ 28,001 Cost in excess of book value of acquired joint venture interests and other 6,440 6,469 Total value of Radnet joint venture interests $ 36,425 $ 34,470 Total book value of other joint venture partner interests $ 34,635 $ 32,374 Income statement data for the three months ended March 31, 2020 2019 Net revenue $ 26,341 $ 27,254 Net income $ 4,245 $ 3,952

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Lease, Cost	Supplemental cash flow information related to leases was as follows: Three Months Ended (In thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 24,660 $ 22,921 Operating cash flows from financing leases 66 123 Financing cash flows from financing leases 839 1,522 Right-of-use & Equipment assets obtained in exchange for lease obligations: Operating leases (1) 10,050 412,695 Financing leases 4 14,056 (1) Amounts for the three months ended March 31, 2019 include the transition adjustment for the adoption of Topic 842 discussed in Note 2, Significant Accounting Policies for further information. The components of lease expense were as follows: Three Months Ended (In thousands) 2020 2019 Operating lease cost $ 25,040 $ 22,792 Finance lease cost: Depreciation of leased equipment $ 780 $ 783 Interest on lease liabilities 66 123 Total finance lease cost $ 846 $ 905
Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows: (In thousands, except lease term and discount rates) March 31, 2020 December 31, 2019 Operating Leases Operating lease right-of-use assets $ 435,382 $ 445,477 Current portion of operating lease liability $ 68,054 $ 61,206 Operating lease liabilities 403,893 420,922 Total operating lease liabilities $ 471,947 $ 482,128 Finance Leases Property and Equipment, at cost $ 13,963 $ 14,105 Accumulated depreciation (3,877 ) (3,135 ) Equipment, net $ 10,086 $ 10,970 Current portion of finance lease $ 3,292 $ 3,283 Finance lease liabilities 2,475 3,264 Total finance lease liabilities $ 5,767 $ 6,547 Weighted Average Remaining Lease Term Operating leases - years 8.7 8.8 Finance leases - years 3.1 3.3 Weighted Average Discount Rate Operating leases 6.4 % 6.4 % Finance leases 4.4 % 4.4 %
Maturities of Operating Lease Liabilities	Maturities of lease liabilities were as follows: (In thousands) Operating Financing Year Ending December 31, Leases Leases 2020 (excluding the three months ended March 31, 2020) $ 66,261 $ 2,609 2021 90,140 2,650 2022 81,744 715 2023 70,759 11 2024 55,366 11 Thereafter 265,744 — Total Lease Payments 630,014 5,996 Less imputed interest (158,067 ) (229 ) Total $ 471,947 $ 5,767 March 31, 2020 , we have an additional operating lease for a medical facility that has not yet commenced of approximately $2.0 million , which will commence in 2025 with a lease term of 5 years .
Maturities of Financing Lease Liabilities	s of March 31, 2020 , we have an additional operating lease for a medical facility that has not yet commenced of approximately $2.0 million , which will commence in 2025 with a lease term of 5 years . Maturities of lease liabilities were as follows: (In thousands) Operating Financing Year Ending December 31, Leases Leases 2020 (excluding the three months ended March 31, 2020) $ 66,261 $ 2,609 2021 90,140 2,650 2022 81,744 715 2023 70,759 11 2024 55,366 11 Thereafter 265,744 — Total Lease Payments 630,014 5,996 Less imputed interest (158,067 ) (229 ) Total $ 471,947 $ 5,767

CREDIT FACILITY AND NOTES PAY_2

CREDIT FACILITY AND NOTES PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of notes payable, line of credit and capital lease obligations	As of March 31, 2020 and December 31, 2019 our debt obligations consisted of the following (in thousands): March 31, December 31, First Lien Term Loans collateralized by RadNet's tangible and intangible assets $ 640,125 $ 649,824 Discounts on First Lien Term Loans (12,609 ) (13,579 ) Term Loan Agreement collateralized by NJIN's tangible and intangible assets 54,750 55,875 Revolving Credit Facilities 80,000 — Equipment notes payable at interest rates ranging from 4.4% to 5.6%, due through 2020, collateralized by medical equipment 199 275 Total debt obligations 762,465 692,395 Less: current portion (39,615 ) (39,691 ) Long term portion debt obligations $ 722,850 $ 652,704
Schedule of first lien credit agreement	Included in our condensed consolidated balance sheets at March 31, 2020 are $640.1 million of First Lien Term Loans and $54.8 million of SunTrust Term Loan debt for a combined total of $694.9 million of total term loan debt (exclusive of unamortized discounts of $12.6 million ) in thousands: Face Value Discount Total Carrying First Lien Term Loans $ 640,125 $ (12,609 ) $ 627,516 SunTrust Term Loan 54,750 — 54,750 Total Term Loans $ 694,875 $ (12,609 ) $ 682,266
Schedule of leverage ratio	Interest rates and fees of the applicable margin for borrowing under the SunTrust Restated Credit Agreement adjust depending on our leverage ratio, according to the following table: Pricing Level Leverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for Base Rate Loans Applicable Margin for Letter of Credit Fees Applicable Percentage for Commitment Fee I Greater than or equal to 3.00:1.00 2.75% per annum 1.75% per annum 2.75% per annum 0.45% per annum II Less than 3.00:1.00 but greater than or equal to 2.50:1.00 2.25% per annum 1.25% per annum 2.25% per annum 0.40% per annum III Less than 2.50:1.00 but greater than or equal to 2.00:1.00 2.00% per annum 1.00% per annum 2.00% per annum 0.35% per annum IV Less than 2.00:1.00 but greater than or equal to 1.50:1.00 1.75% per annum 0.75% per annum 1.75% per annum 0.30% per annum V Less than 1.50:1.00 1.50% per annum 0.50% per annum 1.50% per annum 0.30% per annum First Lien Term Loans bear interest at either an Adjusted Eurodollar Rate or a Base Rate plus an applicable margin. Rates of the applicable margin for borrowing under the First Lien Credit Agreement will alter depending on our leverage ratio, according to the following schedule: First Lien Leverage Ratio Eurodollar Rate Spread Base Rate Spread > 5.50x 4.50% 3.50% > 4.00x but ≤ 5.50x 3.75% 2.75% >3.50x but ≤ 4.00x 3.50% 2.50% ≤ 3.50x 3.25% 2.25%

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of options activity	The following summarizes all of our option transactions for the three months ended March 31, 2020 : Outstanding Options Under the 2006 Plan Shares Weighted Average Exercise price Per Common Share Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Balance, December 31, 2019 478,951 $ 8.21 Granted 48,948 20.43 Balance, March 31, 2020 527,899 9.34 7.00 $ 1,170,297 Exercisable at March 31, 2020 298,863 7.48 6.24 940,098
Schedule of RSA activity	The following summarizes all unvested RSA’s activities during the three months ended March 31, 2020 : RSA's Weighted-Average Remaining Contractual Term (Years) Weighted-Average Fair Value RSA's unvested at December 31, 2019 387,934 $ 11.61 Changes during the period Granted 378,968 $ 21.30 Vested (451,940 ) $ 15.86 RSA's unvested at March 31, 2020 314,962 1.34 $ 16.00

NATURE OF BUSINESS (Details Nar

NATURE OF BUSINESS (Details Narrative) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)Center	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Number of centers | Center	335
BRMG and NY Groups revenues	$ 39,600	$ 37,400
BRMG and NY Groups operating expenses	39,600	37,400
Management services provided to BRMG and NY Groups	147,900	$ 142,300
BRMG and NY Groups accounts receivable	1,699,392		$ 1,646,986
BRMG and NY Groups accounts payable	$ 1,492,203		1,413,847
ScriptSender LLC
Business Acquisition [Line Items]
Ownership percentage	49.00%
Chief Executive Officer | Beverly Radiology Medical Group III
Business Acquisition [Line Items]
Ownership percentage	99.00%
Board Member | Beverly Radiology Medical Group III
Business Acquisition [Line Items]
Ownership percentage	1.00%
Variable Interest Entity, Primary Beneficiary
Business Acquisition [Line Items]
BRMG and NY Groups accounts receivable	$ 96,200		100,300
BRMG and NY Groups accounts payable	$ 12,900		$ 7,000

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details - Revenue) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from External Customer [Line Items]
Total revenue	$ 281,564	$ 271,549
Commercial insurance
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	155,461	151,678
Medicare
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	57,749	54,199
Medicaid
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	6,628	7,120
Workers' compensation/personal injury
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	10,274	11,027
Other patient revenue
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	5,662	5,835
Management fee revenue
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	2,567	2,117
Teleradiology and Software revenue
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	3,770	4,386
Other
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	6,222	6,310
Service fee revenue
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	248,333	242,672
Revenue under capitation arrangements
Revenue from External Customer [Line Items]
Service fee revenue, net of contractual allowances and discounts	$ 33,231	$ 28,877

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES (Details Narrative)	Nov. 05, 2019USD ($)	Mar. 01, 2018USD ($)	Feb. 01, 2018USD ($)shares	Mar. 24, 2017USD ($)	Mar. 31, 2020USD ($)shares	Mar. 31, 2019USD ($)	Dec. 31, 2018	Dec. 31, 2019USD ($)joint_venture	Oct. 11, 2019shares	Jun. 30, 2019USD ($)	Jan. 01, 2019USD ($)
Property, Plant and Equipment [Line Items]
Contracts receivable, factoring receivable					$ 22,700,000
Deferred financing costs, net of accumulated amortization					1,400,000			$ 1,600,000
Deferred financing costs, net, period increase					700,000
Goodwill					444,407,000			441,973,000
Indefinite-lived intangible assets					11,300,000
Income tax expense					$ (4,381,000)	$ (1,230,000)
Effective tax rate					23.80%	39.00%
Total credit facilities outstanding					$ 0			0
Aggregate cost					64,620,000			60,375,000
Advance for future software subscription fees					40,440,000			$ 45,004,000
Number of unconsolidated joint ventures | joint_venture								12
Management service fees					$ 2,600,000	$ 2,100,000
Minimum
Property, Plant and Equipment [Line Items]
Share-based payment award, award vesting period					3 years
Share-based payment award, expiration period					5 years
Maximum
Property, Plant and Equipment [Line Items]
Share-based payment award, award vesting period					5 years
Share-based payment award, expiration period					10 years
Medic Vision
Property, Plant and Equipment [Line Items]
Ownership percentage		14.21%		12.50%
Payments to acquire equity method investments		$ 200,000		$ 1,000,000
Option to purchase additional equity method investment				$ 1,400,000
Ownership percentage diluted		1.96%
Initial ownership percentage after dilution		12.25%
Aggregate cost					$ 1,200,000
Turner Imaging
Property, Plant and Equipment [Line Items]
Payments to acquire equity method investments			$ 2,000,000
Number of shares purchased (in shares) | shares			2,100,000
Preferred stock issued upon conversion (in shares) | shares									80,000
WhiteRabbit.ai Inc.
Property, Plant and Equipment [Line Items]
Payments to acquire equity method investments	$ 1,000,000
Payments to fund loan to related parties	$ 2,500,000
Advance for future software subscription fees					$ 4,000,000
Restated Plan
Property, Plant and Equipment [Line Items]
Shares authorized (in shares) | shares					14,000,000
Restated Plan | Minimum
Property, Plant and Equipment [Line Items]
Share-based payment award, award vesting period					3 years
Share-based payment award, expiration period					5 years
Restated Plan | Maximum
Property, Plant and Equipment [Line Items]
Share-based payment award, award vesting period					5 years
Share-based payment award, expiration period					10 years
2016 Caps
Property, Plant and Equipment [Line Items]
Premium liability for 2016 Caps					$ 5,300,000
2016 Caps | September 2020
Property, Plant and Equipment [Line Items]
Notional amounts					150,000,000
2016 Caps | October 2020
Property, Plant and Equipment [Line Items]
Notional amounts					$ 350,000,000
2019 SWAPS
Property, Plant and Equipment [Line Items]
Notional amounts										$ 500,000,000
2019 SWAPS | October 2023
Property, Plant and Equipment [Line Items]
Notional amounts										50,000,000
2019 SWAPS | October 2025
Property, Plant and Equipment [Line Items]
Notional amounts										200,000,000
Amounts returned to property and equipment | Minimum
Property, Plant and Equipment [Line Items]
PPE estimated useful lives					3 years
Amounts returned to property and equipment | Maximum
Property, Plant and Equipment [Line Items]
PPE estimated useful lives					15 years
Leasehold Improvements | Minimum
Property, Plant and Equipment [Line Items]
PPE estimated useful lives					3 years
Leasehold Improvements | Maximum
Property, Plant and Equipment [Line Items]
PPE estimated useful lives					15 years
2016 Caps | London Interbank Offered Rate (LIBOR)
Property, Plant and Equipment [Line Items]
Basis spread on variable rate					2.00%
2019 swaps - Interest Rate Contracts | 2019 SWAPS
Property, Plant and Equipment [Line Items]
Notional amounts										100,000,000
2019 swaps - Interest Rate Contracts | 2019 SWAPS1
Property, Plant and Equipment [Line Items]
Notional amounts										$ 400,000,000
2019 swaps - Interest Rate Contracts | London Interbank Offered Rate (LIBOR) | 2019 SWAPS
Property, Plant and Equipment [Line Items]
Basis spread on variable rate										1.96%
2019 swaps - Interest Rate Contracts | London Interbank Offered Rate (LIBOR) | 2019 SWAPS1
Property, Plant and Equipment [Line Items]
Basis spread on variable rate										2.05%
Revolving Credit Facility
Property, Plant and Equipment [Line Items]
Deferred financing costs, net of accumulated amortization					$ 1,400,000
Total credit facilities outstanding								$ 0
Dignity Health | Glendale Advanced Imaging | Joint Venture | Minimum
Property, Plant and Equipment [Line Items]
Variable interest entity, ownership percentage							35.00%
Dignity Health | Glendale Advanced Imaging | Joint Venture | Maximum
Property, Plant and Equipment [Line Items]
Variable interest entity, ownership percentage							55.00%
Promissory Note | Turner Imaging
Property, Plant and Equipment [Line Items]
Convertible promissory note											$ 143,000

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Details - Goodwill) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 441,973
Goodwill, ending balance	444,407
Olney Open MRI, LLC
Goodwill [Roll Forward]
Goodwill acquired through acquisitions	601
MRI at Woodbridge, LLC
Goodwill [Roll Forward]
Goodwill acquired through acquisitions	$ 1,833

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES (Details - Gain on Derivative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Offsetting Assets [Line Items]
Change in fair value of cash flow hedge, net of taxes	$ (18,549)	$ (1,196)
2016 caps - Interest Rate Contracts
Offsetting Assets [Line Items]
Derivative instrument, beginning balance	(1,877)	2,506	$ 2,506
Change in fair value of cash flow hedge, net of taxes	280		(4,383)
Derivative instrument, ending balance	(1,597)		(1,877)
2019 swaps - Interest Rate Contracts
Offsetting Assets [Line Items]
Derivative instrument, beginning balance	(5,870)	$ 0	0
Change in fair value of cash flow hedge, net of taxes	(18,829)		(5,870)
Derivative instrument, ending balance	$ (24,699)		$ (5,870)

SUMMARY OF ACCOUNTING POLICIE_2

SUMMARY OF ACCOUNTING POLICIES (Details - Fair Value Measurements) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
First Lien Term Loans and SunTrust Term Loan	$ 694,875	$ 705,699
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
First Lien Term Loans and SunTrust Term Loan	595,656	708,948
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
First Lien Term Loans and SunTrust Term Loan	0	0
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
First Lien Term Loans and SunTrust Term Loan	595,656	708,948
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
First Lien Term Loans and SunTrust Term Loan	0	0
2016 caps - Interest Rate Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	727	1,081
2016 caps - Interest Rate Contracts | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	0	0
2016 caps - Interest Rate Contracts | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	727	1,081
2016 caps - Interest Rate Contracts | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	0	0
2019 swaps - Interest Rate Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	34,937	9,477
2019 swaps - Interest Rate Contracts | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	0	0
2019 swaps - Interest Rate Contracts | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	34,937	9,477
2019 swaps - Interest Rate Contracts | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Contracts	$ 0	$ 0

SUMMARY OF ACCOUNTING POLICIE_3

SUMMARY OF ACCOUNTING POLICIES (Details - Earnings Per Share) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Net loss attributable to RadNet, Inc.'s common stockholders	$ (16,358)	$ (3,733)
BASIC AND DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO RADNET, INC.'S COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period (in shares)	50,294,329	49,553,694
BASIC AND DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share)	$ (0.33)	$ (0.08)

SUMMARY OF ACCOUNTING POLICIE_4

SUMMARY OF ACCOUNTING POLICIES (Details - Investment in Joint Ventures) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Beginning balance	$ 34,470
Equity in earnings in these joint ventures	1,955	$ 1,873
Ending balance	$ 36,425

SUMMARY OF ACCOUNTING POLICIE_5

SUMMARY OF ACCOUNTING POLICIES (Details - Key Financial Data on Joint Ventures) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Balance Sheet Data:
Current assets	$ 28,618		$ 27,427
Noncurrent assets	69,819		61,037
Current liabilities	(9,829)		(9,217)
Noncurrent liabilities	(23,988)		(18,872)
Total net assets	64,620		60,375
Book value of RadNet joint venture interests	29,985		28,001
Cost in excess of book value of acquired joint venture interests and other	6,440		6,469
Total value of Radnet joint venture interests	36,425		34,470
Total book value of other joint venture partner interests	34,635		$ 32,374
Net revenue	26,341	$ 27,254
Net income	$ 4,245	$ 3,952

FACILITY ACQUISITIONS (Details

FACILITY ACQUISITIONS (Details Narrative) - USD ($) $ in Thousands	Mar. 02, 2020	Jan. 02, 2020	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill acquired			$ 444,407	$ 441,973
MRI at Woodbridge, LLC
Business Acquisition [Line Items]
Purchase consideration	$ 2,600
Fixed assets acquired	500
Right-of-use asset required	1,100
Intangible assets acquired	300
Operating lease liabilities acquired	1,100
Finance lease liabilities acquired	100
Goodwill acquired	$ 1,800
Olney Open MRI, LLC
Business Acquisition [Line Items]
Purchase consideration		$ 1,800
Fixed assets acquired		800
Right-of-use asset required		1,300
Intangible assets acquired		300
Operating lease liabilities acquired		1,300
Goodwill acquired		$ 600

LEASES (Details Narrative)

LEASES (Details Narrative) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Lessee, Lease, Description [Line Items]
Operating lease, not yet commenced	$ 2
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	5 years
Operating lease, renewal term	10 years
Lease, term of contract	5 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	15 years
Operating lease, renewal term	35 years
Lease, term of contract	8 years
Operating lease, not yet commenced, term of contract	5 years

LEASES (Details - Lease, Cost)

LEASES (Details - Lease, Cost) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 25,040	$ 22,792
Depreciation of leased equipment	780	783
Interest on lease liabilities	66	123
Total finance lease cost	$ 846	$ 905

LEASES (Details - Supplemental

LEASES (Details - Supplemental Cash Flows) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 24,660	$ 22,921
Operating cash flows from financing leases	66	123
Financing cash flows from financing leases	839	1,522
Right-of-use & Equipment assets obtained in exchange for lease obligations:
Operating leases	10,050	412,695
Financing leases	$ 4	$ 14,056

LEASES (Details - Supplementa_2

LEASES (Details - Supplemental Balance Sheet) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating Leases
Operating lease right-of-use assets	$ 435,382	$ 445,477
Current portion of operating lease liability	68,054	61,206
Operating lease liabilities	403,893	420,922
Total operating lease liabilities	471,947	482,128
Finance Leases
Property and Equipment, at cost	13,963	14,105
Accumulated depreciation	(3,877)	(3,135)
Equipment, net	10,086	10,970
Current portion of finance lease	3,292	3,283
Finance lease liabilities	2,475	3,264
Total finance lease liabilities	$ 5,767	$ 6,547
Weighted Average Remaining Lease Term
Operating leases - years	8 years 8 months 12 days	8 years 9 months 18 days
Finance leases - years	3 years 1 month 6 days	3 years 3 months 18 days
Weighted Average Discount Rate
Operating leases	6.40%	6.40%
Finance leases	4.40%	4.40%

LEASES (Details - Maturities of

LEASES (Details - Maturities of Operating and Financing Lease Liabilities) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating Leases, After Adoption of 842
2020 (excluding the three months ended March 31, 2020)	$ 66,261
2021	90,140
2022	81,744
2023	70,759
2024	55,366
Thereafter	265,744
Total Lease Payments	630,014
Less imputed interest	(158,067)
Total	471,947	$ 482,128
Financing Leases, After Adoption of 842
2020 (excluding the three months ended March 31, 2020)	2,609
2021	2,650
2022	715
2023	11
2024	11
Thereafter	0
Total Lease Payments	5,996
Less imputed interest	(229)
Total	$ 5,767	$ 6,547

CREDIT FACILITY AND NOTES PAY_3

CREDIT FACILITY AND NOTES PAYABLE (Details - Schedule of debt) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Equipment notes payable at interest rates ranging from 4.4% to 5.6%, due through 2020, collateralized by medical equipment	$ 199	$ 275
Total debt obligations	762,465	692,395
Less: current portion	(39,615)	(39,691)
Long term portion debt obligations	722,850	652,704
Term Loan | First Lien Term Loan
Debt Instrument [Line Items]
Debt	640,125	649,824
Discounts on First Lien Term Loans	(12,609)	(13,579)
Term Loan | Term Loan Agreement collateralized by NJIN's tangible and intangible assets
Debt Instrument [Line Items]
Debt	54,750	55,875
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt	$ 80,000	$ 0
Equipment Notes Payable
Debt Instrument [Line Items]
Maturity date	Dec. 31, 2020
Minimum | Equipment Notes Payable
Debt Instrument [Line Items]
Interest rate, stated percentage	4.40%
Maximum | Equipment Notes Payable
Debt Instrument [Line Items]
Interest rate, stated percentage	5.60%

CREDIT FACILITY AND NOTES PAY_4

CREDIT FACILITY AND NOTES PAYABLE (Details Narrative) - USD ($)	Apr. 18, 2019	Aug. 31, 2018	Jul. 01, 2016	Mar. 31, 2020	Dec. 31, 2018	Dec. 31, 2019	Aug. 22, 2017
Debt Instrument [Line Items]
Deferred financing costs, net of accumulated amortization				$ 1,400,000		$ 1,600,000
Total credit facilities outstanding				0		0
Term Loan
Debt Instrument [Line Items]
Debt instrument face value				694,875,000
First Lien Term Loans
Debt Instrument [Line Items]
Discounts on term loans				12,600,000
First Lien Credit Agreement Seventh Amendment
Debt Instrument [Line Items]
Deferred financing costs, net of accumulated amortization	$ 700,000
Debt issuance costs	4,400,000
Debt discount	2,100,000
Amortization of deferred issuance costs	1,600,000
Revolving Credit Facility
Debt Instrument [Line Items]
Deferred financing costs, net of accumulated amortization				1,400,000
Total credit facilities outstanding						0
Letters of credit outstanding				$ 6,700,000
Effective interest rate				5.75%
Barclays | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity				$ 50,800,000
Barclays | Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Commitment fee percentage				0.25%
Unused capacity, commitment fee percentage				0.50%
SunTrust | Term Loan
Debt Instrument [Line Items]
Debt instrument, periodic payment					$ 800,000
Periodic payment, percent					5.00%
Periodic payment amortization increase					$ 400,000
SunTrust | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 30,000,000
First Lien Credit Agreement | Barclays | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				137,500,000
Total credit facilities outstanding				80,000,000
First Lien Credit Agreement | SunTrust | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Total credit facilities outstanding				0
First Lien Term Loan | Term Loan
Debt Instrument [Line Items]
Debt instrument face value				640,125,000
Discounts on term loans				12,609,000		$ 13,579,000
First Lien Term Loan | Barclays | Term Loan
Debt Instrument [Line Items]
Periodic payment, principal				9,700,000
Restated Agreement
Debt Instrument [Line Items]
Increase (decrease) in line of credit, net		$ 90,000,000
Restated Agreement | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity		60,000,000
Debt instrument face value				$ 54,750,000
Restated Agreement | SunTrust | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 30,000,000
First Lien Credit Agreement, Sixth Amendment | Medium-term Notes
Debt Instrument [Line Items]
Total credit facilities outstanding							$ 100,000,000
First Lien Credit Agreement, Sixth Amendment | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, increase borrowing capacity	$ 20,000,000
Pricing Level III | Restated Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage		2.00%
Unused capacity, commitment fee percentage		0.35%
Eurodollar | First Lien Credit Agreement, Sixth Amendment | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Effective interest rate				1.85%
Eurodollar | 3.50x but ≤ 4.00x | First Lien Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate			3.50%
Eurodollar | 3.50x but ≤ 4.00x | First Lien Credit Agreement, Sixth Amendment | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate				3.50%
Eurodollar | Pricing Level III | Restated Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%		1.95%
Base Rate | First Lien Credit Agreement, Sixth Amendment | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Effective interest rate				3.25%
Base Rate | 3.50x but ≤ 4.00x | First Lien Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate			2.50%
Base Rate | 3.50x but ≤ 4.00x | First Lien Credit Agreement, Sixth Amendment | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate				2.50%
Base Rate | Pricing Level III | Restated Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Maximum | First Lien Term Loan | Term Loan
Debt Instrument [Line Items]
Debt instrument face value				$ 100,000,000

CREDIT FACILITY AND NOTES PAY_5

CREDIT FACILITY AND NOTES PAYABLE (Details - Term Loans) - Term Loan	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Face Value	$ 694,875,000
Discount	(12,609,000)
Total Carrying Value	682,266,000
First Lien Term Loan
Debt Instrument [Line Items]
Face Value	640,125,000
Discount	(12,609,000)
Total Carrying Value	627,516,000
Restated Agreement
Debt Instrument [Line Items]
Face Value	54,750,000
Discount	0
Total Carrying Value	$ 54,750,000

CREDIT FACILITY AND NOTES PAY_6

CREDIT FACILITY AND NOTES PAYABLE (Details - Margin Spread Based on Leverage Ratio) - First Lien Credit Agreement - Line of Credit - Revolving Credit Facility	Jul. 01, 2016
Eurodollar | 5.50x
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.50%
Eurodollar | 4.00x but ≤ 5.50x
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.75%
Eurodollar | 3.50x but ≤ 4.00x
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.50%
Eurodollar | ≤ 3.50x
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.25%
Base Rate | 5.50x
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.50%
Base Rate | 4.00x but ≤ 5.50x
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Base Rate | 3.50x but ≤ 4.00x
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
Base Rate | ≤ 3.50x
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%

CREDIT FACILITY AND NOTES PAY_7

CREDIT FACILITY AND NOTES PAYABLE (Details - Margin Spread Based on Leverage Ratio, Debt Instrument) - Restated Agreement	Aug. 31, 2018	Mar. 31, 2020
Pricing Level I
Debt Instrument [Line Items]
Leverage ratio, greater than	3
Pricing Level I | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage	2.75%
Unused capacity, commitment fee percentage	0.45%
Pricing Level I | Eurodollar | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Pricing Level I | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Pricing Level II
Debt Instrument [Line Items]
Leverage ratio, greater than	2.50
Leverage ratio, less than	3
Pricing Level II | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage	2.25%
Unused capacity, commitment fee percentage	0.40%
Pricing Level II | Eurodollar | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Pricing Level II | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Pricing Level III
Debt Instrument [Line Items]
Leverage ratio, greater than	2
Leverage ratio, less than	2.50
Pricing Level III | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage	2.00%
Unused capacity, commitment fee percentage	0.35%
Pricing Level III | Eurodollar | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%	1.95%
Pricing Level III | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Pricing Level IV
Debt Instrument [Line Items]
Leverage ratio, greater than	1.50
Leverage ratio, less than	2
Pricing Level IV | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage	1.75%
Unused capacity, commitment fee percentage	0.30%
Pricing Level IV | Eurodollar | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Pricing Level IV | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%
Pricing Level V
Debt Instrument [Line Items]
Leverage ratio, less than	1.50
Pricing Level V | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage	1.50%
Unused capacity, commitment fee percentage	0.30%
Pricing Level V | Eurodollar | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Pricing Level V | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 1
Unrecognized expense weighted average period	2 years 18 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period	3 years
Share-based payment award, expiration period	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period	5 years
Share-based payment award, expiration period	10 years
Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	527,899	478,951
Exercisable shares (in shares)	298,863
Options exercised (in shares)	0
Options granted (in shares)	48,948
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards issued to date (in shares)	6,497,244
RSA's unvested (in shares)	314,962
Future Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	1,078
Restated Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	14,000,000
Awards issued to date (in shares)	15,304,688
Options cancelled (in shares)	3,281,040
RSA's forfeited (in shares)	61,703
Shares available for future issuance, options, warrants, shares of restricted stock and other bonus awards (in shares)	2,038,055
Restated Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period	3 years
Share-based payment award, expiration period	5 years
Restated Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period	5 years
Share-based payment award, expiration period	10 years

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details-Outstanding options and warrants) - Equity Option $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Begining Balance (in shares) | shares	478,951
Granted (in shares) | shares	48,948
Ending Balance (in shares) | shares	527,899
Exercisable at the end (in shares) | shares	298,863
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Begining Balance (in dollars per share) | $ / shares	$ 8.21
Granted (in dollars per share) | $ / shares	20.43
Ending Balance (in dollars per share) | $ / shares	9.34
Exercisable at the end (in dollars per share) | $ / shares	$ 7.48
Weighted Average Remaining Contractual Life
Balance at the end	7 years
Exercisable at the end	6 years 2 months 26 days
Aggregate Intrinsic Value
Aggregate value outstanding | $	$ 1,170,297
Aggregate value exercisable | $	$ 940,098

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details - RSU's) - Restricted Stock	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
RSA's outstanding, beginning balance (in shares) | shares	387,934
RSA's granted (in shares) | shares	378,968
RSA's vested (in shares) | shares	(451,940)
RSA's outstanding, ending balance (in shares) | shares	314,962
Weighted-Average Remaining Contractual Term (Years)	1 year 4 months 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average fair value, beginning balance (in dollars per share) | $ / shares	$ 11.61
Weighted-average fair value, granted (in dollars per share) | $ / shares	21.30
Weighted-average fair value, vested (in dollars per share) | $ / shares	15.86
Weighted-average fair value, ending balance (in dollars per share) | $ / shares	$ 16

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) shares in Millions	May 11, 2020	Apr. 01, 2020	May 07, 2020	Mar. 31, 2020	Dec. 31, 2019
DeepHealth, Inc. | Subsequent Event
Subsequent Event [Line Items]
Shares issues (in shares)		1
COVID-19 Pandemic | Subsequent Event
Subsequent Event [Line Items]
Advance medicare payments	$ 39,000,000
Financial stimulus	$ 14,900,000
Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Debt outstanding				$ 80,000,000	$ 0
Line of Credit | Revolving Credit Facility | Subsequent Event
Subsequent Event [Line Items]
Debt outstanding			$ 0

Uncategorized Items - rdnt-2020

Label	Element	Value
Ventura County Imaging Group, LLC [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment	$ 4,300,000
Hudson Valley Radiology Associates [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	us-gaap_BusinessAcquisitionEquityInterestIssuedOrIssuableValueAssigned	$ 6,000,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued	440,207,000