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According to court documents, between January 2018 to in or May 2021, the defendants allegedly used the two Los Angeles-based hospicecompanies to submit more than $9 million in false and fraudulent claims to Medicare.
In January, hospice organizations began sounding the alarm on similar activity in other states — Arizona, Texas and Nevada. Arizona had 239 new Medicare-certified hospices appear between 2018 and 2022, representing 52% of all providers in the state.
A total of 109 transactions in the hospice and home health space involved a hospital and health system from 2014 to 2021, according to market analysis data that The Braff Group shared with Hospice News. The number of deals in 2017 and 2018 hit 20 and 19, respectively, before slumping downward during the pandemic in recent years.
Having a window into priorities such as career development and work-life balance is a significant retention factor for the Dallas-based home health and hospicecompany, Marion indicated. Craig Dresang, CEO, YoloCares Signs of hospice workforce improvement have begun to emerge. NYSE: EHAB).
From around January 2018 through May 2021, Akhsharumov used his two hospicecompanies to defraud Medicare of approximately $9 million,” the U.S. Justice Department indicated in a statement.
The company began as the fourth largest provider of Medicare-certified home health services and the 12th largest provider of Medicare-certified hospice services nationally. The new home health and hospicecompany expects to earn nearly $1.07 Hospice valuations also started to shake relative to the last two years.
Hospices simply did not have enough staff to meet demand, which drove some of them out of business. Executives from almost every publicly traded hospicecompany raised this issue in earnings calls and presentations throughout the year. In that time frame, Nevada saw 56 newly certified hospices, and 369 emerged in Texas.
billion acquisition of the home health and hospicecompany LHC Group. In 2018, a physician employed by HCA, Dr. Santosh Potdar, filed a False Claims Act lawsuit in federal court against HCA and one of its affiliated physician groups, Access Healthcare Physicians. Large payers have also jumped into the home-based care bandwagon.
With these factors in mind, a rising number of patients are being cared for by PE-owned hospices. An estimated 16% of Medicare hospice enrollees received care from either a private equity-owned or a publicly traded hospicecompany in 2019, up from 11% in 2012, a recent study reported. Congress also asking questions.
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