Providers have faced a slough of unanswered questions regarding the demonstration project to test hospice coverage through the value-based insurance design model (VBID), commonly known as the Medicare Advantage carve-in. Among the most pressing of these questions is how they will be paid. For the program’s first year, which commences Jan. 1, 2021, most hospices […]
Joshua Proffitt, president of hospice and home health provider LHC Group (NASDAQ: LHCG), indicated that hospice growth was a “top strategic focus” for the company. LHC Group has completed a number of hospice acquisitions so far in 2020 with additional transactions in their pipeline. “We’re so well-positioned that top priority of hospice expansion and growth […]
The Chicago-based private equity firm the Vistria Group has agreed to sell St. Croix Hospice to an affiliate of the investment company H.I.G. Capital for an undisclosed amount. Vistria’s portfolio focuses on health care, education and financial services. Minnesota-headquartered St. Croix has a substantial Midwestern footprint that extends across six states and has been on […]
The Center for Medicare & Medicaid Innovation (CMMI) will offer a second opportunity for Medicare Advantage plans to participate in the demonstration of hospice coverage through Medicare Advantage. The implementation date for this second cohort would occur in 2022. CMMI Director Brad Smith discussed this move at the Better Medicare Alliance Medicare Advantage Summit. “In […]
Health care technology company WellSky, which works extensively in the hospice and post-acute care space, has inked a definitive agreement to purchase CarePort Health from its parent company Allscripts (NASDAQ: MDRX) for the sum of $1.35 billion. CarePort develops software platforms designed to better connect post-acute care providers with payers. The acquisition is expected to […]
A joint venture between LHC Group (NASDAQ: LHCG) and CHRISTUS Health has acquired CHRISTUS Santa Rosa Hospice in San Marcos, Texas, for an undisclosed sum. Santa Rosa will rebrand as CHRISTUS Hospice — Central Texas following the closing of the transaction, expected Nov. 1. Joint ventures form the cornerstone of LHC Group’s hospice mergers and […]
Patients covered by Medicare Advantage plans who are faced with the decision of whether to elect hospice may be discouraged by the need to transition off their health plan for most of their care. This practice that has the potential to change through the forthcoming value-based insurance design model demonstration, often called the Medicare Advantage […]
Post-acute company Charter Health Care Group has purchased Vitality Home Healthcare in Denver and Salt Lake City-based Heartwood Home Health & Hospice for an undisclosed sum. These transactions make four hospice acquisitions to date in 2020 for Charter Health. Charter is a portfolio company of the private equity firm Pharos Capital Group. The company provides […]
Health care has been in a state of transformation during the past decade since the Affordable Care Act (ACA) became the law of the land. Among other provisions, the ACA created the Center for Medicare & Medicaid Innovation (CMMI), which is spearheading vast changes to the ways hospices get paid. The changes are largely driven […]
Maryland-based Hospice of the Chesapeake has acquired Hospice of Charles County for an undisclosed sum. The organization has also created a new brand identity, though its name will not be changing. This transaction makes Hospice of the Chesapeake one of the largest providers in their region. “We are grateful to the Hospice of Charles County […]