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In 2022, the hospice community laid the groundwork for a transformational 2023. During late 2021 and 2022, the U.S. Centers for Medicare & Medicaid Services (CMS) developed new approaches for enforcing hospice regulations that will become effective on Jan. 2 For-Profit or Nonprofit, Hospice Is Not a ‘Hustle’ (Dec.
Labor shortages and other headwinds have battered hospices during 2022, including large companies. This has been a longstanding problem since the start of the pandemic, but average length of stay among the publicly traded firms tumbled at a faster rate in Q3 2022 (3%) than they did in the third quarter of 2021 (2%).
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.
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. s (NYSE: HUM) $2.8
Referral rejection rates among hospices reached a record high of 41% in 2022, according to data from CarePort, a WellSky company. Hospice aides and CNAs also represented a large percentage of job vacancies and saw high turnover rates, 19.05% and 29.84%, respectively.
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.
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 started in March 2022 and are very much still in the startup phase.
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