Literature Review
All posts tagged with “Hospice Provider News | For-profit News | Earnings Reports.”
Silverstone Health expands care continuum beyond hospice, sees skyrocketing census growth
06/24/24 at 03:00 AMSilverstone Health expands care continuum beyond hospice, sees skyrocketing census growth Hospice News; by Jim Parker; 6/19/24 Dallas-based Silverstone Health has expanded its continuum of home-based services while growing its total daily census from 17 patients to 2,000. Silverstone came on the scene in 2020 as a standalone hospice after CEO Alfonso Montiel’s purchase and rebranding of Comfort Care Hospice in the Dallas-Fort Worth region. Since then, the company has built a palliative care service and is developing a personal care business. In the interim, Silverstone also acquired two small home health agencies for undisclosed amounts, as well as a physician group, according to Montiel.
How health equity impacts hospices’ bottom lines
06/24/24 at 03:00 AMHow health equity impacts hospices’ bottom lines Hospice News; by Holly Vossel; 6/18/24More hospices nationwide have increasingly recognized the value proposition of expanding their reach into untapped and underserved populations and geographic markets. Aside from increased access, census volumes and quality, health equity’s return on investment can also include a better recruitment and retention outlook, according to David Turner, vice president of special projects and initiatives at St. Croix Hospice, which serves 10 Midwest states. Turner is also CEO and partner of Nashville-based Heart’n Soul Hospice. Hospices stand to benefit from recruiting and retaining a more ethnically diverse base of interdisciplinary workers and c-suite executives, Turner said at the Hospice News Elevate conference in Washington D.C.
Amedisys to sell 100 locations to advance UnitedHealth group deal
05/10/24 at 03:00 AMAmedisys to sell 100 locations to advance UnitedHealth group deal Hospice News; by Holly Vossel; 5/8/24 Amedisys Inc. has agreed to divest upwards of 100 home health and hospice locations to an undisclosed private equity buyer as the company addresses regulators’ antitrust concerns in its pending acquisition by the UnitedHealth Group’s (UNH) health care services arm Optum. The news came in a recent social media post from The Capitol Forum. Selling off some of Amedisys’ locations in overlapping markets within Optum’s service region may help push the transaction forward amid mounting regulatory concerns. The U.S. Department of Justice (DOJ) is mulling a possible lawsuit to block the acquisition, citing potential antitrust issues related to the deal. The concerns center around the ability for other providers to compete if Optum and Amedisy combine their geographic footprints.
Vitas CEO Westfall: Market conditions more favorable for hospice acquisitions
03/18/24 at 03:00 AMVITAS CEO Westfall: Market conditions more favorable for hospice acquisitions Hospice News, by Jim Parker; 3/15/24 Changes in the marketplace have made further acquisitions by VITAS Healthcare more likely. VITAS, a subsidiary of Chemed Corp. ..., recently announced its first deal in several years, the $85 million purchase of hospice assets from Covenant Health. While the company does not comment on its specific acquisition plans or its pipeline, VITAS may be more active in the M&A space in the coming year, CEO Nick Westfall indicated ...
Hospices welcome VBID’s demise, but questions remain
03/07/24 at 02:00 AMHospices welcome VBID’s demise, but questions remainHospice News, by Jim Parker; 3/5/24Citing “operational challenges,” the U.S. Centers for Medicare & Medicaid Services (CMS) announced [Monday] that it would bring to a close the hospice component of the value-based insurance design (VBID) demonstration, effective Dec. 31. ... Hospice News spoke with leaders of hospice organizations, industry groups and other stakeholders to gauge providers’ perceptions of the CMS decision.
Profits at hospice firm VITAS soar by whopping nearly 88 percent in Q4
03/05/24 at 03:00 AMProfits at hospice firm VITAS soar by whopping nearly 88 percent in Q4 McKnights Home Care, by Adam Healy; 2/29/24Hospice firm VITAS, a subsidiary of Chemed, enjoyed a stellar fourth quarter as profits rose by nearly 88% to reach $63 million. It helped to buoy Chemed’s overall earnings as the parent company’s other subsidiary, plumbing subsidiary Roto-Rooter, struggled with weaker profits and sales.
Other Business Headlines of Interest
01/05/24 at 04:00 AMOther Business Headlines of Interest, updated 1/4/24 per nasdaq.com
VITAS Expects a Steady 2024 for Revenue, Growth
12/06/23 at 04:00 AMVITAS Expects a Steady 2024 for Revenue, GrowthHospice NewsDecember 4, 2023After the tumultuous years of the pandemic, VITAS Healthcare expects a stable growth trajectory heading into 2024. Florida-based VITAS is a subsidiary of Chemed Corp. Though the company has not yet released financial guidance for 2024, VITAS anticipates a “predictable” 2024 in terms of earnings and growth, executives said at Monday’s Bank of America Healthcare Conference.