Literature Review
All posts tagged with “Hospice Provider News | For-profit News.”
Three Oaks Hospice reportedly begins sales process
09/19/24 at 03:00 AMThree Oaks Hospice reportedly begins sales process Hospice News; by Jim Parker; 9/16/24 Dallas-based Three Oaks Hospice has reportedly begun seeking a buyer. The private equity-backed hospice launched in 2019 with more than $21 million in investment dollars from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners. Rumors of the potential sale were first reported by the website Ion Analytics, which indicated that Three Oaks generates between $12 million and $15 million EBITDA.
Three Oaks Hospice reportedly begins sales process
09/18/24 at 03:00 AMThree Oaks Hospice reportedly begins sales processHospice News; by Jim Parker; 9/16/24Dallas-based Three Oaks Hospice has reportedly begun seeking a buyer. The private equity-backed hospice launched in 2019 with more than $21 million in investment dollars from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners. Rumors of the potential sale were first reported by the website Ion Analytics, which indicated that Three Oaks generates between $12 million and $15 million EBITDA... The company currently operates 28 locations across its eight-state footprint, including Texas, Missouri, Kansas, Illinois, Michigan, Louisiana, South Carolina and Pennsylvania.
Destin welcomes its first inpatient hospice care center: VITAS suites at Destination Health and Rehabilitation
09/17/24 at 03:00 AMDestin welcomes its first inpatient hospice care center: Vitas suites destination health and rehabilitation South Florida Hospital News, Destin, FL; by cfelixcpa; 9/13/24 Patients nearing the end of life who reside in Okaloosa and Walton counties now have access to inpatient hospice care at the VITAS Suites at Destination Health and Rehabilitation in Destin, Florida. This is the first and only inpatient unit for hospice patients in the two-county region. The nation’s leading provider of end-of-life care celebrated the grand opening of the new suites and is now accepting hospice-eligible patient referrals. ... “The new suites help VITAS further serve the greater community of Pensacola, filling a vital need for acute symptom management for end-of-life patients in the area,” said VITAS General Manager Chasity Tedford.
Here's what for-profit systems are watching as 2025 approaches
09/17/24 at 03:00 AMHere's what for-profit systems are watching as 2025 approaches Modern Healthcare; by Caroline Hudson; 9/9/24 Large for-profit healthcare systems are investing in new facilities to meet patient demand and navigating changes in reimbursement rules to ensure those care sites remain stable. Executives from HCA Healthcare, Tenet Healthcare, Community Health Systems and Universal Health Services joined insurers, pharmaceutical companies and others in the spotlight ... at the annual Wells Fargo Healthcare Conference in Boston. ... Here are five takeaways from the for-profits' discussions.
Crossroads Hospice & Palliative Care is primed for continued success
09/17/24 at 03:00 AMCrossroads Hospice & Palliative Care is primed for continued success 9/13/24; Business Wire - Crossroads Hospice & Palliative Care; by Lisa Simon; 9/13/24 Crossroads Hospice & Palliative Care, the leading end-of-life care company, is affirming its commitment to growing its four Ohio locations in Cleveland, Northeast Ohio, Cincinnati and Dayton along with two others, one outside Philadelphia, Pennsylvania and one in Memphis, Tennessee. “We are committed to building our remaining locations and we have the depth of talent and proven standards for the highest quality care and the most time spent bedside, including attended deaths, compared with any other hospice. This is an opportunity for Crossroads to reach its highest potential.” That’s after selling five locations in Missouri, Kansas, Oklahoma and Georgia to Spartanburg, SC-headquartered Agape Care Group, a portfolio company of Ridgemont Equity Partners, earlier this week. Crossroads had been considering a strategic sale of some locations for a number of reasons. Now company leaders are viewing the future of the 29-year-old leader in hospice and palliative care with enthusiasm as they become a more streamlined company with a smaller geographic footprint. “The potential for innovation has never been higher,” said Crossroads CEO and Co-Founder Perry Farmer. “We are committed to building our remaining locations and we have the depth of talent and proven standards for the highest quality care and the most time spent bedside, including attended deaths, compared with any other hospice." ... COO and Co-Founder Clayton Farmer agreed while acknowledging how entrenched Crossroads is in the markets where it operates. “We want our valued referral partners in Ohio, Pennsylvania and Tennessee to know we are here to continue serving their patients and families and we will strive to continue to beat all national averages on key hospice industry metrics.”
Antitrust lessons for healthcare roll-ups – and everyone else
09/16/24 at 03:00 AMAntitrust lessons for healthcare roll-ups – and everyone else Competition Policy International - CPI Columns US & Canada; by Lauren F. Dayton & Swara Saraiya; 9/12/24 ... The practice described in the U.S. Anesthesia Partners suit, known as a “roll-up,” is a common strategy employed by private equity firms through which smaller businesses in adjacent markets are acquired and consolidated. Large healthcare networks acquire smaller practices for similar reasons. That consolidation enables companies to build a greater presence, operate more efficiently, and can allow them to attract better talent. But that same consolidation can also create the risk of anticompetitive effects. The FTC’s suit is noteworthy because federal competition regulators have historically focused on the companies themselves, not their financial sponsors. The case is in step with statements by competition regulators about increased scrutiny of the healthcare industry, and of acquisitions by private equity firms, in particular. ...
Bayada Home Health Care settled nurses’ wages class action lawsuit for $13.5 million
09/16/24 at 03:00 AMBayada Home Health Care settled nurses’ wages class action lawsuit for $13.5 million Head Topics - Daily Botique; 9/13/24 The settlement, if approved by a judge, will cover nearly 11,000 Bayada nurses in Pennsylvania. Bayada Home Health Care Inc., one of the nation’s largest home care providers, agreed to settle a class-action lawsuit in Philadelphia alleging the company failed to pay nurses for time spent updating the incoming nurse or caregiver on a patient’s condition and for time spent in mandatory training sessions the $13.5 million Philadelphia Court of Common Pleas settlement.Editor's note: Additional information is behind a paywall at the Philadelphia Inquirer.
Agape Care Group expands premier hospice services in Oklahoma, Missouri, Kansas and Georgia
09/16/24 at 03:00 AMAgape Care Group expands premier hospice services in Oklahoma, Missouri, Kansas and Georgia BusinessWire, Spartanburg, SC; 9/13/24 Agape Care Group, a portfolio company of Ridgemont Equity Partners and the premier provider of hospice and palliative care across nine states, has acquired select Crossroads Hospice locations in Oklahoma, Missouri, Kansas and Georgia. Crossroads Hospice will continue to operate in Tennessee, Ohio and Pennsylvania. ... Agape Care Group currently serves 5,000 patients in nine states and employs more than 2,000 team members. Kansas, Missouri and Oklahoma locations will operate under the ACG Hospice brand, while the Georgia location will operate under the Georgia Hospice Care brand.
Tennessee health-care company enters Triad with acquisition of White Oak of Burlington
09/12/24 at 03:00 AMTennessee health-care company enters Triad with acquisition of White Oak of Burlington Triad Business Journal; by David Hill; 9/11/24 National Healthcare, a publicly traded company from Nashville, acquired Alamance County facility as part of larger purchase of senior living centers. ... It also has three behavioral health hospitals, 34 homecare agencies and 30 hospice agencies, in addition to Alzheimer’s and memory care units and related operations. ... [Additional subscription may be required.]
2024 NHPCO Facts and Figures Report now available
09/11/24 at 03:00 AM2024 NHPCO Facts and Figures Report now available National Alliance for Care at Home, Alexandria, VA and Washington, DC; Press Release; 9/10/242022 Data Show First Increase in Hospice Utilization Rates Since COVID The National Alliance for Care at Home (the Alliance) published the 2024 edition of National Hospice and Palliative Care Organization (NHPCO) 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. Facts and Figures – the leading resource for hospice providers and others interested in understanding the work of the community – has been published annually for over two decades by NHPCO. ... The findings in this report reflect patients who received care in Calendar Year (CY) 2022, or Fiscal Year (FY) 2022, provided by hospices certified by the Centers for Medicare and Medicaid Services (CMS) and reimbursed under the Medicare Hospice Benefit. This year COVID-19 continued to impact patient care as COVID-19 waivers were still in place through May 2023. These waivers included increased telehealth services. With 49.1% of all Medicare decedents in 2022 choosing hospice care, utilization of hospice increased in 2022 for the first time since 2019. The increase hints at a normalization of the utilization rates back to pre-COVID data. Hospice utilization rates increased across all race and ethnicity groups, with the largest increase among Hispanic Medicare beneficiaries seeing. The total number of beneficiaries enrolled in hospice care in 2022 was 1.72 million. Due to the unique impact of COVID-19 on 2020 data, those data are not included in many of the charts this year.
Heart to Heart Hospice expanding services into Oklahoma
09/11/24 at 03:00 AMHeart to Heart Hospice expanding services into Oklahoma PR Newswire; by Kim Dellinger; 9/10/24 Heart to Heart Hospice, one of the country's largest private providers of hospice care, is adding a new location in Durant, Okla., expanding its service offerings into the state for the first time. The new Durant site will serve Southeast Oklahoma, which includes the counties of Atoka, Bryan, Choctaw, Coal, Hughes, Johnston, Marshall, McCurtain, Pittsburg, Pontotoc, and Pushmataha. "It's exciting to be able to offer our care services in Oklahoma, which happens to be my home state," said Kelly Mitchell, Chief Executive Officer and Founder of Heart to Heart Hospice, who is from Sallisaw. Heart to Heart Hospice, based in Plano, Texas, has been serving patients with life-limiting illnesses, as well as their loved ones, since 2003. The company currently provides a broad range of hospice services across 63 locations in Indiana, Michigan, Oklahoma, and Texas.
BrightSpring projects ‘robust, accretive’ hospice, home health M&A pipeline
09/10/24 at 03:00 AMBrightSpring projects ‘robust, cccretive’ hospice, home health M&A pipeline Hospice News; by Holly Vossel; 9/6/24 BrightSpring Health Services Inc. is poised for growth in the home health and hospice landscape. The company anticipates ramping up merger and acquisition (M&A) activity in coming years, with an emphasis on long-term return on investment, according to BrightSpring President and CEO Jon Rousseau. The company is focusing on significant expansion in the next two years, he indicated. Tuck-in deals and de novos have been key to BrightSpring’s strategic growth. Acquisitions have increasingly become a larger part of its game plan — though with a cautious and diligent mindset, Rousseau said ...
Enhabit foresees smooth sailing on near-term hospice growth
09/09/24 at 03:10 AMEnhabit foresees smooth sailing on near-term hospice growth Hospice News; by Jim Parker; 9/5/24 Enhabit Inc. expects consistent hospice growth even as it contends with payer and reimbursement headwinds for its home health business. The home health and hospice provider recently terminated its home health contract with the Medicare Advantage payer UnitedHealthcare, a subsidiary of UnitedHealth Group, citing nine months of unsuccessful negotiations. In addition, Enhabit and the rest of the home health industry are facing a potential 1.7% rate cut from the U.S. Centers for Medicare & Medicaid Innovation’s proposed 2025 payment rule. Meanwhile, Enhabit’s hospice segment continues to grow sequentially.
Humana to depart 13 Medicare Advantage markets
09/06/24 at 03:00 AMHumana to depart 13 Medicare Advantage markets Modern Healthcare; by Lauren Berryman; 9/4/24 Humana previewed its Medicare Advantage strategy for the coming plan year, including a decision to quit 13 counties where performance has been unsatisfactory, at the Wells Fargo Healthcare Conference on Wednesday. The Medicare Advantage heavyweight, which had 6.2 million members in those plans as of the second quarter, expects to lose a few hundred thousand enrollees in 2025 as it prioritizes profitable markets, Chief Financial Officer Susan Diamond told investors at the event in Everett, Massachusetts. In addition to leaving those 13 counties, Humana will offer fewer plans in some other areas, Diamond said. About 560,000 members will have to choose new policies for 2025, most of whom will have other Humana plans available to them, she said. ... Diamond did not specify what markets will be affected, but Humana will continue selling Medicare Advantage plans in every state. The company is committed to a presence in certain favorable regions, including south Florida, she said.
BrightSpring Health Services announces definitive agreement to acquire Haven Hospice, expanding hospice services into Florida
09/04/24 at 02:00 AMBrightSpring Health Services announces definitive agreement to acquire Haven Hospice, expanding hospice services into Florida Business Insider, Louisville, KY; by Globe Newswire Press Release; 9/3/24BrightSpring Health Service ... announced that it completed the acquisition of the assets of North Central Florida Hospice, Inc. and Haven Medical Group, LLC (collectively “Haven Hospice”), a Florida-based company holding a Certificate of Need (CON) for comprehensive hospice care services in 18 counties in north central Florida, effective September 1, 2024. “We are excited to welcome Haven Hospice into BrightSpring, expanding our existing hospice services into the CON state of Florida,” said BrightSpring’s President and CEO Jon Rousseau.
State seeks input on Columbia Gorge hospital, Gentiva hospice care
09/03/24 at 03:00 AMState seeks input on Columbia Gorge hospital, Gentiva hospice care The Lund Report, Oregon and SW Washington; by Nick Budnick; 8/29/24 State officials are checking in on two health care acquisitions that have occurred since August of 2022, the absorption of Mid-Columbia Medical Center into California-based Adventist Health as well as a private equity firm's acquisition of Kindred Hospice. Now the state wants to hear how the renamed entities are doing: Adventist Health Columbia Gorge and Kindred Hospice Care. “OHA wants to understand how ownership changes may have affected health care services at AHCG and Gentiva hospice agencies,” according to a state announcement. “We’d like to hear from patients, health care providers, employees, and community members who have interacted with AHCG or Gentiva in the past year.”
Hospice care standards are important. Congress must be careful tinkering with them.
08/30/24 at 03:00 AMHospice care standards are important. Congress must be careful tinkering with them. NorthJersey.com, Special to the USA TODAY Network; by Patrick Maron; 8/28/24... As hospice care grows, real attention needs to be paid to the differences between nonprofit and for-profit centers. [A] staggering 73% of hospice programs today are for-profit and are driven by financial motives, ... Rep. Earl Blumenauer, D-Oregon, is drafting legislation that, if enacted, would represent the most significant reforms to date for hospice payment and oversight. Though Blumenauer’s bill, the Hospice Care Accountability, Reform, and Enforcement — or Hospice CARE — Act, is still in development, key provisions will likely include a new payment mechanism for high-acuity palliative services, changes to the per-diem payment process and actions to improve quality and combat fraud. The bill would also implement a temporary, national moratorium on the enrollment of new hospices into Medicare, to help stem the tide of fraudulent activities ... However, there are significant challenges for nonprofit freestanding inpatient hospice facilities like Villa Marie Claire in Saddle River. Most important, the proposed five-year moratorium on enrolling new hospice programs into Medicare could limit our ability to expand services, straining resources of the Villa ... What’s more, the legislation mandates more frequent inspections and enhanced oversight, which could lead to operational stress and higher costs. [Click on the title's link to continue reading.]
For-profit Idaho home health powerhouse seeks expansion in Oregon
08/29/24 at 03:00 AMFor-profit Idaho home health powerhouse seeks expansion in OregonThe Lund Report; by Nick Budnick; 8/27/24Pennant Group wants to acquire home health and hospice agencies from Signature Group, an affiliate of Avamere Health. State health officials are reviewing a giant for-profit Idaho-based home health care company’s $80 million effort to buy home care and hospice companies around Oregon operated by Signature Group, also known as Avamere Health Care. Officials in the Health Care Market Oversight office of the Oregon Health Authority announced a 30-day public comment period on Aug. 23.
Interim HealthCare welcomes Rexanne Domico as President and Chief Operating Officer
08/22/24 at 03:00 AMInterim HealthCare Welcomes Rexanne Domico as President and Chief Operating Officer Business Wire, Sunrise, FL; by Interim HealthCare; 8/20/24 Interim HealthCare Inc., [a national] network of home care, senior care, home health, hospice and medical staffing services, announced today the appointment of Rexanne Domico as President and Chief Operating Officer. "We’re excited to welcome Rexanne to Interim HealthCare to help champion our mission and shape our operational strategies," said Paul Mastrapa, CEO of Interim HealthCare. "Her hands-on leadership style, deep industry knowledge, and proven track record of fostering growth and excellence make her exceptionally well-suited to lead our regional teams and guide our franchisees nationwide to provide the high-end care we are known for."
Nationwide home healthcare and hospice provider to pay $3.85M to resolve False Claims Act allegations
08/21/24 at 03:00 AMNationwide home healthcare and hospice provider to pay $3.85M to resolve False Claims Act allegations U.S. Department of Justice Office of Public Affairs; Press Release; 8/20/24 Intrepid U.S.A. Inc., headquartered in Dallas, and various wholly-owned subsidiaries (Intrepid) have agreed to pay $3,850,000 to resolve allegations that Intrepid violated the False Claims Act in connection with two lines of its business: first, that Intrepid knowingly submitted claims to Medicare for home healthcare services for patients who did not qualify for the Medicare home healthcare benefit or where services otherwise did not qualify for Medicare reimbursement; and second, that Intrepid knowingly submitted claims to Medicare for patients who did not qualify for the hospice benefit. The settlement is based on Intrepid’s ability to pay.
John Oliver on US for-profit hospice care: ‘too important to just hope the free market fixes it'
08/21/24 at 02:00 AMJohn Oliver on US for-profit hospice care: ‘too important to just hope the free market fixes it' The Guardian; by Adrian Horton; 8/19/24 On the latest Last Week Tonight, John Oliver delved into the many issues with hospice care in the US. Doing so is “an almost offensive parody of this show”, he acknowledged. “If somebody else did that, it would genuinely be hurtful. But I promise this is worth talking about.” There are “lots of dedicated people work with hospices, providing huge relief for dying patients and their families, particularly those who want to remain at home”, such as the 1.8 million Americans who received end-of-life care at home last year. But like anything, hospice is subject to fraud, mismanagement and abuse. One government report estimated that hospice’s inappropriate billing costs Medicare hundreds of millions per year. ... “Hospice care, when done well, is hugely beneficial to those that are dying and their families. It is too important to just hope the free market fixes it,” Oliver concluded. “This industry badly needs reform. That’s clear.” [Click on links below for hospice responses to this "Hospice" episode of Last Week Tonight.]
4 health systems shrinking their hospital portfolios
08/20/24 at 03:00 AM4 health systems shrinking their hospital portfolios Becker's Hospital Review; by Alan Condon; 8/14/24 Merger and acquisition activity is picking up steam this year after a decline in deal volume during the pandemic, with some large health systems reorganizing their portfolios and offloading hospitals in various markets. Four health systems that have sold or plan to sell multiple hospitals this year:
25 fastest-growing healthcare companies of 2024
08/19/24 at 03:00 AM25 fastest-growing healthcare companies of 2024 Becker's Hospital Review; by Giles Bruce; 8/13/24 The Inc. 5000 list of the fastest-growing private companies in 2024, released Aug. 13, includes 320 that focus on health services. The magazine ranks the companies by percentage revenue growth over the last three years. Here are the top 25 health services firms that made the list this year (and where they rank): [Click on this title's link to continue reading]
The billion-dollar DFW healthcare company you haven’t heard of
08/19/24 at 03:00 AMThe billion-dollar DFW healthcare company you haven’t heard of D Magazine; by Will Maddox; 8/16/24 Addus HomeCare has had a busy year. The publicly traded home care, home health, and hospice company employs more than 30,000 people across 214 locations and 22 states, providing care to nearly 50,000 patients. This year, the company has quietly cleared nearly $400 million in acquisitions as it ramps up its presence in Texas and around the country.
3 of the fastest growing hospice companies
08/19/24 at 03:00 AM3 of the fastest growing hospice companies Hospice News; by Jim Parker; 8/16/24 Three of the nation’s for-profit hospice companies have hit the accelerator on revenue growth, achieving triple-digit percentages. Each of these organizations — Traditions Health, Fortis Health and HealthFlex Hospice — appeared on Inc. magazine’s 2024 listing of the fastest-growing private companies in the United States. ...