The COVID-19 pandemic has set off global economic shockwaves, pushing the nation and much of the world into a deepening recession. While hospices have taken significant financial blows stemming from the outbreak, leaders in the space have displayed confidence that hospice remains a recession-proof industry. The National Bureau of Economic Research (NBER) has indicated that […]
Health care organizations of all stripes have been struggling to obtain the necessary personal protective equipment (PPE) to maintain continuity of care safely during the pandemic, and hospices have been no exception. Hospice providers of all walks have had varied experiences in PPE supply lines, with some having deeper pockets and greater access than others. […]
Though hospice providers have taken their hits from COVID-19, one possible side effect is a possible surge in patients seeking services in the home rather than institutional care due to fears of possible infection. This according to Amedisys (NASDAQ: AMED) CEO Paul Kusserow, speaking at the BMO Capital Markets’ 2020 Prescription for Success Healthcare Virtual […]
Amedisys, Inc. (NASDAQ:AMED) has completed its acquisition of Homecare Preferred Choice, Inc., doing business as AseraCare Hospice. Amedisys acquired 100% ownership of AseraCare for a cash price of $235 million. AseraCare operates 44 hospice locations throughout 14 states with an average daily census that exceeds 2,100. The company generates $117 million in revenue annually. With […]
The hospice mergers and acquisitions market continued to be robust early in the first quarter of 2020 but took a sharp dive as companies shifted their attention towards responding to the COVID-19 pandemic and its economic fallout. A number of transactions, large and small, have occurred in May, which could signal a resurgence. The outlook […]
Despite seeing a drop in referrals and admissions between mid-March and early April, Amedisys (NYSE: AMED) expects its hospice business to stay on a strong growth trajectory during 2020 and into 2021, despite corporate leaders voicing some skepticism about the forthcoming Medicare Advantage hospice carve-in. Acquisitions activity is a pillar of the company’s hospice strategy, […]
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 […]
Hospice and home health provider Amedisys, Inc. (NASDAQ:AMED) has entered into a definitive agreement to purchase Texas-based AseraCare Hospice for a cash purchase price of $235 million. Amedisys has had its eye on AseraCare for a number of years. “In 2016 we actually approached the AseraCare, and at that time they weren’t for sale. We’ve […]
The top executives for companies in the hospice space have expressed serious concerns about the forthcoming inclusion of hospice in Medicare’s value-based insurance design model, often called the Medicare Advantage hospice carve-in. Through Medicare Advantage, CMS contracts with private insurance companies to provide coverage for Medicare beneficiaries. CMS earlier this year announced that it would […]
Despite recent hits on the overall markets, hospice company revenues may be protected by the growing demand for their services. The U.S. stock markets took a major blow due to turmoil stemming from volatile oil prices and the continuing economic impact of the global COVID 19 outbreak. Monday’s drop — the worse since 2008 — caused […]