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. […]
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 […]
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 […]
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 […]
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 […]
Trusty Care, a New York City-based firm that offers health care and financial planning solutions for seniors facing serious illness, has obtained more than $25,000 worth of free legal services through a competition organized by End Well, a nonprofit that seeks to improve the end-of-life experience in the U.S. health care system. End Well sponsored […]
The Chicago-based private equity firm The Vistria Group is seeking a buyer for its portfolio company St. Croix Hospice, headquartered in Minnesota, according to a report from the Wall Street Journal. A spokesperson representing Vistria Group made no comment to Hospice News about its plans for St. Croix. St. Croix operates locations throughout Kansas, Minnesota, […]
Health technology company WellSky and its parent company, the private equity firm TPG Capital, have signed a definitive agreement to bring on Leonard Green & Partners as a capital partner. Financial terms of the transaction were not disclosed, but TPG Capital will make a new equity investment in WellSky. Leonard Green is a Los Angeles-based […]
Tennessee-based Alleo Health System has acquired ABC Hospice in Alabama, marking the organization’s entry into that state’s market. Financial terms of the transaction were not disclosed. Alleo has been pursuing an aggressive growth strategy this year, seeking to expand its geographic footprint and its patient census to better position the nonprofit to negotiate with payers. […]
The COVID-19 pandemic has highlighted gaps in the health care system that bring into sharp relief the need for a community-based palliative care benefit, according to the National Hospice & Palliative Care Organization (NHPCO). Representatives of NHPCO have been meeting with the Center for Medicare & Medicaid Innovation and stakeholders on Capitol Hill to move […]