As the novel coronavirus pandemic continues disrupting the business of hospice, many providers anticipate a decrease in annual revenues for 2020, according to recent research by the National Association for Home Care & Hospice (NAHC). Among the contributing factors to revenue drops is a decline in hospice patient admissions and referrals amid the public health […]
The Pennant Group, Inc. (NASDAQ: PNTG) has acquired Prime Hospice, located near Phoenix, and Harmony Hospice of Arizona in the northwestern region of that state. Financial terms for the transactions have not been disclosed. The company expects to complete a third acquisition in a matter of days, also in the Southwest. Pennant, which owns and […]
Early action to stave off the fallout of the COVID-19 pandemic has paid off for The Pennant Group (NASDAQ: PNTG), which saw substantial growth in its hospice business during the first quarter, even as the company gears up for the forthcoming acquisition of three affiliated hospice providers located in the southwestern United States. Post-acute providers […]
Home health and hospice provider LHC Group (NASDAQ: LHCG) is determined to cast a larger shadow on the hospice space this year and next, largely through acquisitions with joint venture partners. The company last December voiced its intention to double its hospice footprint nationally within 12 to 18 months, with a focus on co-locating hospice […]
Though uncertainties abound through the rest of the year, hospice operations at LHC Group (NASDAQ: LHCG) are trending upwards despite a mid-March dip due to the fallout of the COVID-19 pandemic. As the crisis pits headwinds against many of the organization’s future projections, LHC Group remains optimistic, anticipating recovery stemming from federal funding relief, acquisitions […]
The Amedisys, Inc. (NASDAQ: AMED) hospice segment saw a drop in referrals and rising costs stemming from the COVID-19 pandemic during the first quarter of this year. Though the outbreak creates industry-wide uncertainty about the future, demographic tailwinds, de novo activity and acquisitions show promise for a strong recovery, including the company’s $235 million purchase […]
The ongoing pandemic and changing payment models for home health gut-punched Brookdale Senior Living (NYSE: BKD) in the first quarter of 2020, but the company continues to see strong volume growth in its hospice business. Rising expenses and drops in occupancy and resident fee revenues in their senior housing segment took a financial toll on […]
Post-acute company CareCentrix, headquartered in Hartford, Conn., has closed the acquisition of community-based palliative care provider Turn-Key Health for an undisclosed sum. The transaction has it roots in a partnership the two companies pursued early in the second quarter of 2019, when they began to integrate their respective care management and predictive analytic platforms to […]
Encompass Health’s (NYSE: EHC) hospice business saw positive growth during the first quarter of 2020 despite the company suffering some blows due to the COVID-19 pandemic. The 2019 acquisition of Alacare Home Health & Hospice for $217 million continues to bear fruit, offering major contributions to the company’s hospice revenue during the first quarter, which […]
Like most health care providers, VITAS Healthcare is feeling the effects of the COVID-19 pandemic, but the company appears to be riding out the storm based on its first quarter results. VITAS saw 10.1% increase in hospice revenues from prior year during Q1, with increased days of care as a prime contributor. VITAS is a […]