Private-equity firms have been investing heavily in hospice during the past few years, a trend that is not expected to slow. However, a new crop of investors are also moving into the space such as search funds and family offices seeking to capitalize on rising demand and the promise of demographic tailwinds as the population […]
The Pennant Group (NASDAQ: PNTG) has purchased Harmony Hospice in Las Vegas. Harmony was one of three affiliated hospices. Pennant Group acquired the other two earlier this year. The transaction closed on Oct. 1, and financial terms were kept confidential. Pennant, which owns and operates hospice provider Cornerstone Healthcare, in 2019 was spun off from The […]
Hospice and home health provider LHC Group (NASDAQ: LHCG) has acquired Santa Rita Hospice in Aurora, Colo. Santa Rita will rebrand as At Home Hospice and will share space with At Home Healthcare, LHC Group’s home health agency in that community. Financial terms for the asset purchase were undisclosed. Santa Rita’s average daily census is […]
Cincinnati-based Queen City Hospice has agreed to acquire an unnamed hospice provider in Cleveland that will do business as Miracle City Hospice. The transaction is part of an aggressive growth strategy to nearly double the Queen City footprint. Financial terms were undisclosed. Queen City Hospice is a portfolio company of the private-equity firm Stonehenge Partners […]
Hospice providers are increasingly expanding palliative services as a bridge to end-of-life care and engage patients further upstream. With the forthcoming value-based insurance design (VBID) demonstration, hospices that have robust palliative care business lines will have a leg up on competitors in demonstrating their value to participating insurance plans. Many hospice providers see palliative care […]
Among the nine insurance companies that will participate in the Medicare Advantage carve-in during the program’s first year in 2021, Humana, Inc. (NYSE: HUM) operates the most plans that will offer hospice. The carve-in, formally known as the hospice component of the value-based insurance design (VBID) model, is designed to assess payer and provider performance […]
Private equity-backed Three Oaks Hospice has purchased Hospice Partners of Kansas for an undisclosed amount. The transaction marks the Texas-based company’s entry into the Kansas and Missouri markets. During 2019, Three Oaks Hospice received more than $21 million in private equity backing from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners. The […]
The demonstration project to test inclusion of hospice in the value-based insurance design model — often called the Medicare Advantage hospice carve-in — will be a small program in its first year. The 53 participating Medicare Advantage plans cover 8% the market and a limited geographic footprint, according to data from the U.S. Centers for […]
Among Medicare Advantage plans, 53 will be covering hospice and palliative care in 2021 through the value-based insurance design (VBID) model, according to the U.S. Centers for Medicare & Medicaid Services (CMS). Medicare Advantage is seeing record-high levels of participation for 2021 among beneficiaries, reaching about 42% for 2021, CMS reported. Starting in 2021, payers […]
Traditions Health has purchased Oklahoma-based Physician’s Choice Hospice and Palladium Hospice, which operates in multiple states in the Southeast. Financial terms were undisclosed for both transactions. Traditions is a portfolio company of family-owned investment firm Dorilton Capital Advisors. In addition to hospice, the company offers skilled nursing, therapy and home health services. With the Palladium […]
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