CMS Issues Hospices a 2.4% Pay Raise for 2021

Hospice payment rates will go up 2.4% during Fiscal Year 2021 according to a final rule issued by the U.S. Centers for Medicare & Medicaid Services (CMS). This falls slightly short of the 2.6% increase that the agency had proposed in April.  The change would increase annual Medicare hospice spending by $540 million, though providers […]

Patient’s Geographic Location Influences Hospice Choice

The community in which a patient resides may be a key factor that influences their decision of whether or not to elect hospice care. New research indicates regional variations in patients’ end-of-life decision making.  Researchers from Beth Israel Deaconess Medical Center’s (BIDMC) Center for Health Care Delivery Science took a close look at regional patterns […]

More COVID-19 Relief Funds Likely Coming to Hospices

The proposed HEALS Act currently before Congress would allocate an additional $25 billion to the Provider Relief Fund, a program that moves federal dollars to health care organizations struggling with the fallout of the pandemic, including hospices. The full price tag for the legislation could reach more than $1 trillion, though congressional negotiations are ongoing. […]

VITAS Sees Growth Despite COVID-19 Costs

A rise in patient census pulled up revenues for hospice provider VITAS Healthcare, a subsidiary of Chemed Corp. (NASDAQ: CHE) in the second quarter, despite declining admissions and rising expenses stemming from the COVID-19 pandemic.  In addition to VITAS, Chemed owns the plumbing company Roto-Rooter.   The company’s average daily census reached 19,195 patients during the […]

Transitions CEO: Medicare Advantage Could Slow Private Equity Interest in Hospice

CEO Jim Palazzo founded Transitions Hospice in 2007 as a portfolio company within the Transitions Group — which also holds skilled nursing, home health, medical equipment and therapy assets.  He became interested in health care during his college years while working as a caregiver for a friend’s 87-year-old grandfather three nights a week and began […]

Encompass Health Rebounds After First Quarter COVID-19 Slump

Encompass Health (NASDAQ: EHC)  in the second quarter overcame the financial onslaught brought on by the COVID-19 pandemic, despite millions of dollars in increased costs for personal protective equipment (PPE), supplies, and increased paid time off and paid leave for staff.   Things started to look up for Encompass in Q2, propelled by demographic tailwinds and […]

Hospice of the Chesapeake CEO Departs for NHPCO Post

Hospice of the Chesapeake President and CEO Ben Marcantonio will leave that organization effective Sept. 25 and will become chief operating officer for the National Hospice & Palliative Care Organization (NHPCO). Macantonio began at Hospice of the Chesapeake in 2013 as the agency’s chief operating officer and took the helm as CEO in 2015. He was […]

VITAS Expands in the Florida Panhandle

VITAS Healthcare, a subsidiary of Chemed Corp. (NYSE: CHE), has expanded its footprint in the Florida panhandle with a de novo location in Panama City. The agency will serve patients in six Florida counties. As a part of the expansion, VITAS is hiring 42 new full-time employment positions across several disciplines. The location will also […]

Early Hospice Saves $14,000-$27,000 in Health Care Costs Per Patient

Patients who receive hospice earlier saved an average of $14,000 in health care costs during the last three months of life compared to patients who were admitted for a mid-term stay, according to new research from health care data analytics firm Trella Health. Patients who did not elect hospice accrued $27,455 more in health care […]

Hospice, Home Care Multiples Continue to Hit Record Highs at 29x

Multiples in the hospice and home care space reached 29x thus far in 2020, beating 2019’s record high of 26x, according to a recent research report by PwC’s Health Research Institute. Hospice and home health merger and acquisition activity has buoyed results in the larger health care services sector, which saw transactions decline during the […]