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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.
The move comes nearly a year after California-based Guaranteed launched in August 2022, when founder and CEO Jessica McGlory began her own provider company two years after her father passed away. SCAN Group, parent company of SCAN Health Plan, is the latest investor in the hospicecompany.
In case you missed it, Hospice News has launched a new specialty publication for palliative care professionals. You can subscribe to Palliative Care News here: Subscribe today! Frontpoint Health has completed its acquisition of the Texas-based home health and hospicecompany High Plains Senior Care Group (HPSC).
The company’s net service revenue reached $251.6 Its hospice segment represented $49.08 Acquisitions contributed about $65 million to Addus’ bottom line in 2022. The company purchased Illinois-based hospice provider JourneyCare Inc. The company purchased Illinois-based hospice provider JourneyCare Inc.
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.
The proliferation of new hospices in California, Texas, Arizona and Nevada has stoked concerns around potential fraud and other abuses. These same industry organizations in November 2022 called for greater federal oversight of hospice licensing practices in response to the issue.
Nurse practitioner Raphael and registered nurse Britt Akobundu, a married couple, launched San Diego-based Blue Monarch Hospice this past March, with the intent of improving the quality of life for not only patients and families, but also health care workers. . We’re fairly new and still in the early stages.
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. By 2030, the hospice market’s total dollar value is expected to nearly double, reaching $64.7 billion, up from $34.5
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. This is down from 54% of respondents in 2023’s survey and 68% of 2022 respondents. NYSE: EHAB).
Also, across the board, more health care has been steadily moving into the home setting, particularly in the wake of the pandemic. Brookdale home health and hospice] provides us with a large platform that complements our local provider systems,” Hazen said. Large payers have also jumped into the home-based care bandwagon.
The recent entry of large numbers of newly created hospice organizations in several states has heightened long-standing concerns among hospice leaders (as shared with CMS in November 2022) about the adequacy of Medicare certification, accreditation, and enforcement processes.
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