Trinity Health at Home recently acquired Iowa-based Above & Beyond Home Health Care and Hospice for an undisclosed sum. The two will officially join forces on July 1 in a move aimed at expanding much-needed care in local communities.
The home health and hospice provider is part of Trinity Health, a large, faith-based nonprofit health care system headquartered in Livonia, Michigan. Trinity Health at Home’s 2,000 employees serve roughly 45,000 patients annually in 13 states.
“Nearly 20 years ago, Above & Beyond began caring for patients in Monticello with our mission of providing the highest quality of care to our patients and families,” Above & Beyond Director Becky Cooper said in a statement. “To maintain this high-quality care, as an agency, we can benefit from the shared resources and expertise Trinity Health At Home offers.”
The organization will not rebrand and expects a “seamless” transition for patients, according to a company announcement.
Above & Beyond has provided home health and hospice care across eastern Iowa since 2004. Its home care services include nursing services, plus physical, occupational and speech therapies, among others.
Hospice utilization runs high in Iowa compared to other states.
Iowa in 2018 ranked seventh for hospice utilization among Medicare decedents at 56.2%, according to the National Hospice and Palliative Care Organization. Utah held the highest rate that year at 60.5%.
Like in much of the country, aging demographics are driving up demand for end-of-life care in the Hawkeye State. Seniors currently represent 17.5% of its overall population, according to the U.S. Census Bureau. The bureau projected that by 2030, adults 60 and older would comprise 27% of the population.
“As we continue to fulfill our mission of being a transforming, healing presence in the communities we serve, it is imperative that we extend our care into new regions and communities in need,” Trinity Health At Home President and CEO Mark McPherson said in a statement. “Trinity Health At Home looks forward to partnering with Above & Beyond to care for the Monticello community and surrounding areas.”
Trinity Health as Home was founded in 1986 as Amicare Resources Inc. The organization underwent a rebranding process between 1997 and 2002 as its service line evolved to include home health and hospice.
More acquisitions are likely for Trinity at Home.
The provider plans to be more aggressive in a “hyper-competitive” acquisition marketplace this year, McPherson told Hospice News sister publication Home Health Care News. It is particularly focused on expanding its private-duty business and “seriously looking” to acquire about a half dozen of those agencies.
The provider’s parent organization, Trinity Health, employs 26,000 clinicians and has 88 hospitals, 131 continuing care locations and 124 urgent care locations across 25 states. Its annual operating revenue is $20.2 billion.
As more health care moves into the home, a rising number of health systems are expanding their offerings in that setting through partnerships or acquisitions.
For example, HCA Healthcare (NYSE: HCA) plans to aggressively grow its home health and hospice business following its 2021 acquisition of an 80% stake in Brookdale Senior Living for $400 million.
Home health and hospice provider Encompass Health Corp. (NYSE: EHC) recently announced a joint venture with Saint Alphonsus Health System, another member of Trinity Health. The JV brought additional hospice and home health locations to Boise, Idaho.
Amedisys (NASDAQ: AMED) subsidiary Contessa Health’s recent community-based palliative care partnership with Mount Sinai Health System is another example. The company is a similar joint venture with Detroit-based Henry Ford Health System and plans to pursue additional partnerships with other health systems going forward.
The Mount Sinai program is off to a strong start, according to Aaron Stein, COO of Contessa Health.
“We are seeing early positive patient engagement trends in this program, which will be important beyond this partnership as we expand this business line to two new geographies and contract structures that have increasing levels of financial risk,” Stein said at the Hospice News Palliative Care Conference in Chicago. “This strategy is truly one of a kind in the industry, and a major reason for why we see tremendous opportunity to capitalize on partnerships going forward as the only operator to provide an integrated home care offering.”
Companies featured in this article:
Above & Beyond Home Health Care and Hospice, Amedisys, Amicare Resources Inc., Brookdale Senior Living, Contessa Health, Encompass Home Health and Hospice, HCA Healthcare, Henry Ford Health System, Home Health Care News, Mount Sinai Health System, Saint Alphonsus Health System, Trinity Health, Trinity Health at Home