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Five hospice providers made Inc. magazine’s annual list of the 5,000 fastest-growing companies in the United States. . They include Texas-headquartered Traditions Health, Bridge Home Health & Hospice and Healthflex Home Health & Hospice, both in California. Bridge Home Health & Hospice crossing state lines.
hospice providers have the same problem — a workforce shortage — many seek to address it using unique solutions. Worsening workforce shortages have been keeping hospice leaders awake at night for several years running. Hospices, in turn, have taken new steps to gain or keep their staff, particularly clinicians. Though most U.S.
More hospice and palliative care providers are pursuing joint ventures with hospitals and health systems. There’s a lot of patients that fall through the cracks because there’s not that longitudinal model of care that’s really in place,” Stein said at the Hospice News Palliative Care Conference. It’s going both ways.”.
The Texas-based home health and hospicecompany VitalCaring Group was built largely through acquisitions, and the company expects to step up that strategy in 2024 with an emphasis on hospice. The company, which also offers pediatric and companion care, has also opened a few de novos and has more planned for this year.
Hospice executives with a nursing background can bring unique competitive advantages. This has been the case for Nevada-based 1Care Hospice & 1Care Kids, particularly as they contended with the pandemic and widespread workforce shortages, according to COO Eddie Belluomini. 1Care was their first venture.
Rebranding a hospicecompany following a merger or acquisition is a more complex process than it may seem at first blush. And although not all acquired companies rebrand, many do in order to create a unified identity or reflect a broader suite of services. .
Hospice operators in 2024 are navigating a rapidly transforming environment. The prior three years have laid the groundwork for change, particularly in the regulatory space as well as gradual migration towards value-based reimbursement and in tandem, the proliferation of business lines beyond hospice.
A turbulent economy and slight cool-down in deal activity early in the year have led some to question whether the record-high valuations for hospice assets will start to tumble. Thus, these assets have come at a premium in recent years, with hospice multiples r eaching as high as 29x in 2020.
Variations in hospice certificate of need (CON) state laws are raising program integrity concerns. What ends up happening in states without CON is actually lower hospice utilization with way too many hospices in one service area, and often fragmented care without all four levels of hospice offered,” Ponder-Stansel told Hospice News.
Though hospice deal volume dipped in 2022 compared to previous years, five particular transactions could paint a larger picture of where investors see value in the space. These interesting, unusual or groundbreaking deals could signal what’s to come in 2023 and help shape the hospice market’s long-term future. This was Humana Inc.’s
In 2022, the hospice community laid the groundwork for a transformational 2023. Centers for Medicare & Medicaid Services (CMS) developed new approaches for enforcing hospice regulations that will become effective on Jan. The following are the most-read Hospice News articles of 2022. #1 During late 2021 and 2022, the U.S.
Hospice leaders have kept their eyes on four key numbers as 2022 progressed: clinical capacity, length of stay, labor costs and utilization. A fifth, the rising number of new hospices in certain states, has emerged as a priority in recent weeks. These metrics are key to understanding what hospices experienced this year.
More hospitals and health systems are stepping into the home-based hospice space, often seeing joint ventures as a promising route to a return on their investment. You’re seeing different types of transactions taking place in hospice and home health,” Mark Kulik, managing director at M&A advisory firm The Braff Group, told Hospice News.
Since the company launched in 2020, Founder and CEO Alfonso Montiel had days when he feared Texas-based Silverstone Hospice would not survive. Silverstone came on the scene after Montiel’s purchase and rebranding of Comfort Care Hospice in the Dallas-Fort Worth region. Montiel came to hospice through a circuitous route.
Recent allegations that staff at HCA Healthcare (NYSE: HCA) put pressure on patients to enter hospice dovetail with longstanding questions over how and when patients should be referred. SEIU benchmarked HCA’s hospice transfer rates against national data. It’s hard to say that you have proof. This looks really questionable.”
Private equity firms are not slowing down on hospice investments as demographic tailwinds in a fragmented industry create a favorable environment for growth. Private equity hospice deals occurred in record numbers last year, according to data from the M&A advisory firm The Braff Group.
Transcript: Hello, come on in and welcome to another episode of Living With Hospice. I share my insights and offer help to clarify issues revolving around anything and everything hospice with this podcast. But here's some typical emotions that I see in families when loved ones are in hospice care when I go visit them.
Hospices are blazing trails toward growth, each provider with its own range of strategies. Regardless of providers’ disparate methods, hospice remains a high-growth industry, expanding at an annual rate of 7% to 8% annually, Bank of America (BofA) Global Research reported in TKTK. Hospice News edited comments for length and clarity.
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