Careful management of resources can help hospices avoid the need to repay Medicare for revenues that exceed the payment cap. Hospices that receive Medicare payments are likely familiar with payment caps: upper limits to the amount of funds a hospice can collect from Medicare in a single fiscal year. Hospices that exceed either the inpatient […]
Hospices provide 50% of the community-based palliative care delivered in the United States, but many find it challenging to make their programs profitable or break even, often relying on philanthropy to support their efforts. However, some organizations are implementing innovative models and developing payer relationships that can turn that trend around. Interest in palliative care […]
Dallas-based Three Oaks Hospice has acquired Peace Hospice & Palliative Care in Naperville, Ill., for an undisclosed amount. Relatively new to the hospice arena, Three Oaks opened its doors in May 2019 and jumped quickly into the mergers and acquisitions market with the September purchase of three hospices in the company’s home state of Texas. […]
Record-high valuations in the hospice mergers and acquisitions market are leading VITAS Healthcare, a subsidiary of Chemed Corp. (NYSE: CHEM), to target growth through de novos and same-store admissions rather than purchasing smaller hospices. Multiples in the home care and hospice space reached as high as 26x EBITDA during 2019, the most significant rise for […]
Acquisitions contributed significantly to the Amedisys (AMED) hospice segment growth during the fourth quarter of 2019, continuing a trend for the past several quarters. The company was active in the hospice M&A space last year, completing several transactions that included its $340 million purchase of Compassionate Care Hospice in February and its tuck-in of RoseRock […]
Brookdale Senior Living’s (NYSE: BKD) hospice business drove growth in its health care services segment, despite fourth quarter financial results from the overall segment that were below expectations. Brookdale Senior Living Inc. is a national senior living community operator whose health services segment provides hospice, home health care, and outpatient therapy services.The company owns and […]
Encompass Health (NYSE: EHC) will be targeting large acquisitions in the home health and hospice space during 2020 with an emphasis on hospice, due to disruption in the home health sector resulting from the Patient Driving Groupings Model (PDGM). Effective Jan. 1, 2020 Medicare began reimbursing home health care providers through PDGM, which classifies patients […]
Expanding health care services in the home setting will be a key priority during 2020 for Louisville, Ky.-based Humana (NYSE: HUM), as will an intensified focus on social determinants of health. A Humana spokesperson told Hospice News that hospice services would be a part of this effort. “The next phase beginning in 2020 is to […]
Investors and companies seeking strategic acquisitions are showing rising interest in an already booming hospice M&A market as they await the fallout from home health care’s transition to the Patient Driven Groupings Model (PDGM), according to an analysis by Provident Healthcare Partners, an investment bank focused on the middle market in the health care space. […]
Hospice Care of South Carolina (HCSC) has completed the acquisition of Spartansburg, S.C.-based Agape Hospice for an undisclosed sum. HCHC is a portfolio company of The Vistria Group, a private investment firm located in Chicago. The combined company’s more than 800 employees care for a patient population that exceeds 1,400 people throughout 46 South Carolina counties. […]
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