About 70% of acquisition targets in the home-based health care sector in the second quarter of the year were hospice providers, according to a report from the market intelligence firm Irving Levin Associates. The bulk of those targets provided hospice care alone, rather than a mix with home health. During the first quarter, only 22% […]
Rising volume in its hospice business helped deflect the impact of COVID-19 headwinds on Brookdale Senior Living’s (NYSE: BKD) Health Care Services Segment in the second quarter, which saw a sharp decline in home health admissions. Home health admissions have been falling off industry-wide during the pandemic due to widespread limitations on elective procedures and […]
Hospice providers are charging ahead with merger and acquisition transactions this year despite taking a few financial punches from the COVID-19 pandemic. While the larger health care M&A market saw more disruption, hospice activity proceeded apace according to a new report from Provident Healthcare Partners. Acquisitions in the health care services sector slowed significantly in […]
Hospice and home health provider LHC Group (NASDAQ: LHCG) is doubling down on hospice expansion through the last half of the year. Having voiced its intention to double its national hospice footprint last December, the company expects to cast a wider net in 2020 through acquisitions with joint venture partners. Similar to many providers across the country, […]
Hospice and home health provider Traditions Health, has expanded to markets in two new states with the acquisitions of Faith Hospice of Oklahoma and Embrace Hospice of Georgia. Traditions purchased both providers from Diversified Health Care for an undisclosed sum. Traditions is a portfolio company of family-owned investment firm Dorilton Capital Advisors. Prior to these […]
Massachusetts-based Community Visiting Nurse Association (VNA) will merge with HopeHealth, headquartered in Rhode Island. The two nonprofits intend a non-cash affiliation expected to complete in January 2021. The two organizations provide hospice, home health and palliative care in southeastern New England. VNA will rebrand as HopeHealth Community VNA. The merging organizations have plans for future […]
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 […]
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