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All posts tagged with “Hospice Provider News | Operations News | Financial.”
Congressional advisors grapple with Medicare Advantage data that reveals plenty on excess, but not much on access
01/19/24 at 04:00 AMCongressional advisors grapple with Medicare Advantage data that reveals plenty on excess, but not much on accessMcKnight's Long-Term Care News, by Kimberly Marselas; 1/16/24Medicare Advantage risk scores continue to rise, inflating payments to the private plans that far exceed their actual costs, staff for a Congressional advisory commission warned members Friday. The Centers for Medicare & Medicaid Services uses risk scores, based on patient demographics and their needs, to establish payments to plans during each bid season.
Have you been overcharged for prescription drugs? We want to hear from you.
01/11/24 at 03:00 AMHave you been overcharged for prescription drugs? We want to hear from you. - The New York TimesThe New York Times, by Reed Abelson and Rebecca Robbins; 1/9/24Most prescriptions in the United States are handled by one of three companies: CVS Caremark, Express Scripts or Optum Rx. These pharmacy benefit managers serve as middlemen between the drug companies that make the medications and the insurance plans that pay for your prescriptions. These relationships have been in the news because of the high cost of prescription drugs. We want to hear about your experiences with these companies, including whether your medications were covered and how much you paid for them. We’re also interested in hearing from pharmacists and doctors about their experiences and those of their patients.
Humana wins $360M in Walgreens drug price settlement
01/10/24 at 04:00 AMHumana wins $360M in Walgreens drug price settlementModern Healthcare, by Lauren Berryman; 1/8/24Walgreens will pay Humana $360 million to resolve allegations the pharmacy chain overcharged the health insurer for prescription drugs.
2024 Hospice News outlook survey and report
01/10/24 at 02:00 AM2024 Hospice News outlook survey and reportHospice News; 1/9/24From rising industry challenges to the latest technology investments, participants of this year’s Hospice Outlook Survey shared their take on the industry’s obstacles and growth opportunities in the year ahead. Hospice News is pleased to share these survey results, revealing how providers are:
Grief counselling market size to grow USD 4.52 billion by 2029 at a CAGR of 7.8% | Valuates Reports
01/09/24 at 03:10 AMGrief counseling
Cap rates increase by 74 basis points across all segments of senior living and care
01/08/24 at 04:00 AMCap rates increase by 74 basis points across all segments of senior living and careMcKnights Senior Living, by Kathleen Steele Gaivin, 1/3/24The average senior housing and care capitalization rate across all segments increased by 74 basis points between April and October, according to results of the 13th edition of CBRE’s US Senior Housing & Care Investor Survey for the second half of 2023. An April survey had found that cap rates had increased for all sectors but skilled nursing. The commercial real estate services and investment company sought feedback from senior housing investors, developers, lenders and brokers throughout the United States. The survey was conducted in October, and results were released in December.
The Wall Street Journal: Exclusive: Cigna nears deal to offload Medicare business
01/05/24 at 04:00 AMThe Wall Street Journal: Exclusive: Cigna nears deal to offload Medicare businessThe Wall Street Journal, by Laura Cooper, Anna Wilde Mathews and Lauren Thomas; 1/3/24Cigna is in advanced talks to sell its Medicare business in an about-face for the health-insurance giant, which had been expanding its footprint in the fast-growing sector. Cigna, which has been running an auction for the business, known as Medicare Advantage, is now in exclusive talks to sell it to Health Care Service Corp. for between $3 billion and $4 billion, according to people familiar with the matter. Editor's Note: Access to the full article requires a subscription to The Wall Street Journal
Investigating Medicare hospice overpayments
01/04/24 at 04:00 AMInvestigating Medicare hospice overpaymentsHospice News, by Jim Parker; 1/2/24As auditing activity by regulators continues to spike, hospices need to know how to conduct internal investigations to identify any potential improper payments.
The future of claims management: How payers can maximize payment integrity
01/03/24 at 03:55 AMThe future of claims management: How payers can maximize payment integrityBecker's Payer Issues; 12/29/237 to 10 cents of every dollar spent on healthcare goes toward paying for fraudulent claims. Learn the latest strategies for boosting payment integrity here.
Continuum of Care
01/03/24 at 03:00 AMContinuum Of CareTallahassee Magazine, by Steve Bornhoft; 12/31/23Leaders seek seamless approach to services. In the United States, health services are delivered based on what Mark O’Bryant sees as a “reverse model.” Some might even call it a perverse model.
Hospital merger activity to increase in 2024
12/28/23 at 03:42 AMHospital merger activity to increase in 2024Modern HealthcareDecember 26, 2023Hospital merger and acquisition activity is expected to increase next year as hospitals manage financial pressure, competitors combine and insurers grow. ... The number of announced hospital deals through the third quarter rose by more than 50%, to 53 proposed transactions from 35 last year, according to data from consultancy Kaufman Hall. Deal activity was particularly pronounced among midsized health systems ranging from $1 billion to $5 billion in annual revenue. ... Nearly 40% of the 18 proposed hospital deals announced in the third quarter were driven by financial distress, according to Kaufman Hall.
Pohai Malama Adult Residential Care Home hosts open house
12/27/23 at 08:12 AMPohai Malama Adult Residential Care Home hosts open houseHawaii Tribune-Herald (Hilo, HI)December 25, 2023Hilo, HI—After closing its doors to inpatient services last year, Pohai Malama will be reopening as an adult residential care home beginning next year. Hawaii Care Choices, formerly Hospice of Hilo, earlier this month announced the opening of the Pohai Malama Adult Residential Care Home to a room full of board members, supporters and community leaders. The former 12-bed hospice and palliative care inpatient facility, located at 590 Kapiolani St. in Hilo, was closed in November 2022 after operating for 10 years due to changing preferences from patients, many who preferred to be treated in their homes.
After the chaotic closure of a St. Louis nursing home, will others also shut down?
12/27/23 at 03:31 AMAfter the chaotic closure of a St. Louis nursing home, will others also shut down?St. Louis Post-DispatchDecember 24, 2023St. Louis, MO—The north St. Louis nursing home that closed abruptly last weekend, setting off a chaotic relocation of residents and layoffs of workers without warning, had been in decline for several years. ... Other area nursing homes face similar financial pressures and lingering damage from the COVID-19 pandemic. ... “I think we’re going to see a lot of nursing homes close, that’s my prediction—I mean a lot of nursing homes,” [Harvey] Tettlebaum [a lawyer who for decades has represented the Missouri Healthcare Association, a group for long-term health care organizations] said. “I think it’s going to escalate next year.” Among the most vulnerable are providers that primarily serve residents who rely on Medicaid.
Hospice, Home Health Providers ‘Squeezing Turnips’ Competing for Clinical Staff
12/22/23 at 03:30 AMHospice, Home Health Providers ‘Squeezing Turnips’ Competing for Clinical StaffHospice NewsDecember 20, 2023Hospice and home health care providers’ recruitment and retention strategies have narrowed their focus on workers’ key priorities, with organizational culture among the heaviest hitters on their lists. Amid workforce shortages, hospice and home health providers are often at a disadvantage when it comes to competing with other health care organizations that can have greater financial resources, according to Bill English, president and CEO of Accurate Home Care.
Despite Economic Growth in 2023, State of the Commonwealth Report Shows Worrying Trends
12/20/23 at 03:45 AMDespite Economic Growth in 2023, State of the Commonwealth Report Shows Worrying TrendsNews ReleaseDecember 18, 2023Norfolk, VA—There are positive takeaways from Old Dominion University’s ninth annual State of the Commonwealth Report. Virginia’s economy and population continued to grow in 2023 and a record number of people were employed and in the labor force, surpassing pre-pandemic levels. But the report, produced by ODU’s Dragas Center for Economic Analysis and Policy, also raises questions about the commonwealth’s future.
Chemed Corporation Announces the Appointment of Michael D. Witzeman as CFO
12/20/23 at 03:02 AMChemed Corporation Announces the Appointment of Michael D. Witzeman as CFOBusiness WireDecember 18, 2023Cincinnati, OH—Today Chemed Corporation’s Board of Directors has appointed Michael D. Witzeman as Chief Financial Officer, effective January 1, 2024, following the retirement of David P. Williams from that role. Mr. Witzeman is currently Chemed’s Vice President and Controller and serves as Chemed’s principal accounting officer.
‘Tougher Every Day’—Nursing Home Operators, CCRCs Weigh in on Future of Skilled Nursing
12/16/23 at 03:50 AM‘Tougher Every Day’—Nursing Home Operators, CCRCs Weigh in on Future of Skilled NursingSkilled Nursing NewsDecember 14, 2023Operating a skilled nursing facility today is considered a “tough business” with regulations and reimbursement woes making the space “tougher every day.” Other operators say they regularly budget a loss for skilled nursing services, and if it weren’t for other lines of business, skilled nursing would be unsustainable.
Proportion of hospice users declines while industry undergoes shift, NHPCO report finds
12/16/23 at 03:16 AMProportion of hospice users declines while industry undergoes shift, NHPCO report findsMcKnight’s Home Care DailyDecember 14, 2023The proportion of Medicare beneficiaries who died on hospice continued to decline in 2021, according to the National Hospice and Palliative Care Organization’s 2023 Fact and Figures report. ... Notably, the number of hospice users rose by thousands since 2019, but this growth was unable to outpace the proportion of Medicare beneficiaries who died without receiving any hospice care.
• Board hears comment on noise ordinance, EPH home healthcare
12/16/23 at 03:13 AMBoard hears comment on noise ordinance, EPH home healthcareEstes Park (CO) Trail GazetteDecember 14, 2023Estes Park, CO—The Estes Park Board of Trustees held their regular meeting on Tuesday, Dec. 12, where they heard ... [an] update from Estes Park Health about home health care, hospice and non-medical home care. ... EPH Board of Directors Chairman David Batey described the hospital’s decision to no longer provide in-home hospice care, highlighting that there are four licensed providers of hospice care other than EPH, and that EPH will continue to provide inpatient hospice care at the facility.
22 states to increase minimum wage on Jan. 1
12/15/23 at 03:34 AM22 states to increase minimum wage on Jan. 1McKnight’s Senior LivingDecember 13, 2023Almost half of the states, along with 40 local jurisdictions, are set to ring in 2024 with increases to minimum wage, according to Polsinelli law firm. The 22 states with minimum wage increases coming in the new year: Alaska, Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, New York, Ohio, Rhode Island, South Dakota, Vermont and Washington.
Telehealth use among seniors back up to pandemic-era highs, one company claims
12/15/23 at 03:29 AMTelehealth use among seniors back up to pandemic-era highs, one company claimsMcKnight’s Senior LivingDecember 13, 2023Nearly all seniors in the US, an astonishing 97%, had at least one telehealth appointment this year, a new survey indicates. The data, which comes from remote platform operator Independa, indicates that telehealth usage among seniors has grown 20% over the past three years, nearly back up to the pandemic-era peak, when in-person options were not available.
Plains hospital ends home health services
12/15/23 at 03:26 AMPlains hospital ends home health servicesClark Fork Valley Press (Plains, MT)December 13, 2023Plains, MT—Clark Fork Valley Hospital will close its Medicare certified home health agency at the end of the year. According to a press release from the hospital, hospice services will not be affected and will continue unchanged. Hospital officials cited ongoing labor shortages, financial losses and regulatory burdens of operating Home Health organizations as reasons for the closure.
Home Health Spending Begins To Climb Again Post-Pandemic
12/15/23 at 03:24 AMHome Health Spending Begins To Climb Again Post-PandemicHome Health Care NewsDecember 13, 2023After stalling in 2021, spending on home health care returned to a more normalized growth rate in 2022, according to a new analysis from the Office of the Actuary at the Centers for Medicare & Medicaid Services. Specifically, national health expenditures on home health care increased by 6% to $132.9 billion in 2022.
2023 NHPCO Facts and Figures Report Now Available
12/15/23 at 03:00 AM2023 NHPCO Facts and Figures Report Now AvailableNews ReleaseDecember 13, 2023Alexandria, VA—The National Hospice and Palliative Care Organization has published its 2023 edition of Facts and Figures, an annual report on key data points related to the delivery of hospice care, including information on patient characteristics, location and level of care, Medicare hospice spending, and hospice providers. NHPCO Facts and Figures is the leading resource for hospice providers and others interested in understanding the work of the community. Editor's Note: Click here to access NHPCO's Report
Home Health Industry Leaders Scoff At ‘Distorted Picture of Reality’ Painted By MedPAC
12/14/23 at 03:32 AMHome Health Industry Leaders Scoff At ‘Distorted Picture of Reality’ Painted By MedPACHome Health Care NewsDecember 12, 2023The Medicare Payment Advisory Commission recommended that the Medicare base payment rate for home health care be reduced by 7% for CY 2025. The recommendation is another chapter in the contentious relationship between the commission and the home health industry. It also recommended that Congress eliminate any payment updates for hospice providers in 2025.