Chief financial officer Joshua Proffiitt has been promoted to president of the hospice and home health giant LHC Group, Inc. (NASDAQ: LHCG), with Robert Williams coming in as the new CFO. Williams was most recently vice president of financial operations for ChenMed, which provides primary care to seniors with complex chronic diseases. Proffitt joined LHC […]
Under the CARES Act enacted in March, many hospice providers nationwide received federal relief funding to provide monetary support as they reeled from the fallout of the coronavirus pandemic. As the U.S. Department of Health & Human Services (HHS) distributed millions of often unsolicited dollars from the Public Health and Social Services Emergency Fund, legal […]
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 […]
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 […]
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 […]
As the COVID-19 pandemic continues, hospices are honing their screening procedures to protect staff as they visit patients’ homes. However, many challenges resulting from the pandemic’s pitfalls have placed a strain on providers as they work to protect patients and their workforce. Many hospices geared up their prevention measures at the pandemic’s onset. Hospices bolstered […]
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 […]
The health care community is bracing itself for a potential widespread outbreak of the COVID 19 coronavirus strain, and hospices are no exception. While hospice patients are in their final days, preventing infections that could cause greater suffering remains essential to the hospice mission. Patients infected with COVID 19 have presented in nearly 70 locations […]