Hospice News

DECEMBER 22, 2023

After a 2023 slump, health care dealmakers are voicing optimism for a 2024 rebound. Transaction volume declined in the hospice and home-based care space in 2023, following the two record-breaking prior years. This includes the $5.4 Trends like these are often solid indicators that M&A might pick back up, according to PwC.

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Hospice News

JANUARY 19, 2024

Though the number of hospice M&A deals plummeted in 2023 compared to prior years, deals are still being made, and the industry may see a rebound in 2024. Transaction volume declined in the hospice and home-based care space in 2023, following the two record-breaking prior years. The company’s 2023 transactions contributed to a 24.3%

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Hospice News

FEBRUARY 26, 2024

Meanwhile, providers are also rolling with the ups-and-downs of a market ripe for further consolidation after 2023’s M&A slump as workforce headwinds persist. While some hospice companies reported hiring and capacity gains in 2023, often driven by bonus programs, the problem persists for many providers.

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Hospice News

MARCH 19, 2024

Employment in the home-based care sector rose above pre-pandemic levels in 2023, according to the Medicare Payment Advisory Commission (MedPAC). Total employment in this sector was 5% higher in July 2023 than in February 2020, MedPAC reported.

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Hospice News

NOVEMBER 11, 2024

billion net savings in 2023 — the largest amount in the program’s inception more than a decade ago, according to the agency. billion in shared savings payments during the program’s 2022 to 2023 performance year, the highest dollar amount thus far, CMS reported. ACOs participating in MSSP earned an estimated $3.1

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Hospice News

DECEMBER 1, 2023

Wages for hospice clinicians continue to go up amid widespread staff shortages, but they grew at a slower rate in 2023 compared to the prior year. Meanwhile, turnover rates declined in 2023, representing the first drop in several years, the report indicated. The effective date of the research is July 1, 2023.

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Hospice News

MAY 24, 2024

The nation’s publicly traded hospice companies are primed for more acquisitions after a 2023 slump, fueled by census and growth. Transaction volume declined in the hospice and home-based care space in 2023, following the two record-breaking prior years. raise compared to Q1 in 2023. sequentially in Q1 compared to Q4 2023. “We

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Hospice News

FEBRUARY 23, 2024

31, 2023, Contessa was a stakeholder in at least 10 joint ventures that were actively admitting patients, according to the SEC filing. Gavin Baumgardner, vice president and national medical director of Palliative Care at Home at Contessa, said at the National Hospice and Palliative Care Organization (NHPCO) 2023 Annual Leadership Conference.

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Hospice News

JANUARY 8, 2024

But in 2023, deal volume slowed across the board. Only three hospice M&A transactions occurred during the third quarter of 2023, down from eight in Q2. Roll ups are a common approach to private equity investment. So that’s what’s happening today; PE is being a bit more patient. They’re being more selective in what they’re buying.”

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Hospice News

MAY 9, 2024

Dallas-headquartered Enhabit has been mulling a potential sale since investors floated the idea in June 2023. acquisition of LHC Group in February 2023, with the company also inking a deal to purchase Amedisys Inc. sequentially in Q1 compared to Q4 2023. “We NASDAQ: AMED) for $3.3 billion last June. “We

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Hospice News

MARCH 26, 2024

After 2023’s slump, PE firms have been sitting on more than $800 million in dry powder, according to data shared with Hospice News by The Braff Group. Transaction volume declined in the hospice and home-based care space in 2023, following the two record-breaking prior years. Interest rates remain a wild card.

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Hospice News

MAY 8, 2024

Enhabit in Q4 2023 brought in $260.6 The strategic review followed a June 2023 push by one of Enhabit’s minority investors, AREX Capital Management, to pursue a sale or other alternative in a letter to the home health and hospice provider’s board of directors. million, down year-over-year from $263.2

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Hospice News

JANUARY 12, 2024

That translates to a $780 million bump to hospice payments compared to Fiscal Year 2023, according to CMS. set in 2023. The recommendation to curb hospice spending comes after a March 2023 study that found that hospice care generates roughly $3.5 For this year, CMS increased the hospice base rate by 3.1%.

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Hospice News

MAY 1, 2024

The Pennant Group’s total revenue for the full-year 2023 was $544.9 The company’s home health and hospice services segment revenue for all of 2023 was $394.5 million, an increase of $71.7 million, or 15.1%, over the prior year. For the fourth quarter, Pennant’s revenue was $146.0 million, an increase of $21.3

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Hospice News

JUNE 12, 2024

During 2023 alone, national health care spending rose an estimated 7.5%. However, by 2023 the insured population will likely fall closer to 90%, due to the expiration of the Medicaid continuous enrollment requirements, Jacqueline Fiori, economist in the National Health Statistics Group at the U.S. trillion by 2032, equal to 19.7%

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Hospice News

SEPTEMBER 27, 2023

In 2023, 15 MAOs participated in hospice VBID, including 119 health plans in 23 states. As a whole, VBID will have 69 MAO participants in 2024, up from 52 in 2023. million in 2023. Those organizations are testing the model in 49 states, the District of Columbia and Puerto Rico through 1,528 health plans.

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Hospice News

JUNE 5, 2024

As of August 2023, CMS personnel had appeared at 7,000 locations, with plans to visit every hospice site in the country, according to a blog post by two CMS officials. Medicare claims data shows that 102 newly enrolled hospices entered California in 2023.

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Hospice News

MARCH 7, 2024

This followed a June 2023 push by one of Enhabit’s minority investors, AREX Capital Management, to pursue a sale or other alternative in a letter to the home health and hospice provider’s board of directors. Enhabit in Q4 2023 brought in $260.6 The company announced last August that it was considering its alternatives.

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Hospice News

JULY 2, 2024

“Consummation of the divestiture is contingent on a number of conditions, including the consummation of the previously announced merger transaction contemplated under the agreement and plan of merger, dated June 26, 2023 by and among UnitedHealth Group, Aurora Holdings Merger Sub Inc., A federal court eventually allowed that deal to proceed.

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Hospice News

SEPTEMBER 6, 2024

The Providence hospice workers include 130 registered nurses, social workers, and other staff who joined the National Union of Healthcare Workers (NUHW) in January 2023. Hospices that are affiliated with larger health systems, like Providence, may be more likely to see staff participate in labor unions.

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Hospice News

DECEMBER 12, 2024

2023, they and Reps. In their 2023 letter, the Congress members focused on four main concerns: The program would rely heavily on survey results, yet CMS has an extensive backlog for those inspections. Four members of Congress led by Reps. Beth Van Duyne (R-Texas) and Earl Blumenauer (D-Oregon) have called for changes to the SFP.

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Hospice News

NOVEMBER 16, 2023

billion in improper payments during 2023, though a smaller proportion of those dollars went to hospices than in years prior. of improper payments from Medicare in 2023, down from 12% in 2022, according to a new report from the U.S. All told, these efforts reduced improper payments by $28 billion between 2022 and 2023.

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Hospice News

JULY 17, 2024

billion acquisition of LHC Group in February 2023. million home visits during 2023, which generated cost savings through reductions in hospitalizations and readmissions. Optum closed its $5.4 Optum clinicians made more than 2.5

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Hospice News

APRIL 17, 2024

By 2023, the bureau estimates that more than a quarter of the state’s residents will be older than 60, an increase of close to 40% since 2012. In March 2023, the company purchased Safe Harbor Hospice in southeastern Missouri. ” Mississippi’s senior population is the fastest growing age group in the state, according to the U.S.

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Hospice News

JULY 17, 2024

The startup Tuesday Health launched in 2023, emerging from a partnership between Valtruis and Mass General Brigham Ventures. In April 2023, CareSource established a similar relationship with Pure Healthcare. Other participants included Valtruis, Blue Venture Fund and Mass General Brigham Ventures.

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Hospice News

JULY 23, 2024

In July 2023, the U.S. As of 2023, according to the CMS website, dementia affects more than 6.7 Dr. Becca Gatian, who’s been with Avow Care Services over the last 12 years and its chief operating officer since 2023, agrees. million Americans; researchers estimate there will be up to 14 million dementia cases by 2060.

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Hospice News

AUGUST 8, 2024

million decline in the company’s home health and hospice segment compared to Q2 2023. Total admissions for the segment dropped to 19,500 in Q2 compared to 21,600 in the second quarter of 2023. This was somewhat offset by a $0.8 Home health and hospice revenue totaled $109.2 million the second quarter, down from $111.5

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Hospice News

DECEMBER 6, 2023

Exit volumes dropped precipitously in late 2022 and throughout 2023, according to Mark Kulik, senior managing director for the M&A advisory firm The Braff Group. Only three hospice M&A transactions occurred during the third quarter of 2023, down from eight in Q2. They’re being more selective in what they’re buying.”

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Hospice News

JANUARY 3, 2024

The bipartisan legislation was introduced in December 2023 by Sens. extension of MACRA’s advanced APM incentive in the Consolidated Appropriations Act of 2023, which expired at the end of last year. Companion legislation of the bill with similar provisions was introduced on the House floor in July 2023 by Reps.

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Hospice News

JULY 14, 2022

Centers for Medicare & Medicaid Services (CMS) in June released its proposed home health reimbursement rule for 2023, which included a 4.2% pay hike for hospice care in 2023. Margin pressures from the proposed cuts to Medicare home health rates could impact palliative care and hospice. CMS proposed a 2.7%

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Hospice News

JUNE 6, 2024

compared to $335 million in Q1 2023, but experienced a net loss of $46 million, up from a $22 million loss in the first quarter of 2023. During the first quarter of the year, BrightSpring saw net revenue rise 27% year-over-year to $2.5 The Louisville, Kentucky-based provider achieved a gross profit of $369 million, up 10.4%

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Hospice News

MAY 16, 2024

The company in December 2023 picked up Arizona-based Southwestern Palliative Care & Hospice after acquiring five Medicare hospice providers in multiple states the prior month. raise compared to Q1 in 2023. This is the latest in a string of acquisitions for Pennant. Financial terms were not disclosed in these deals. million and $54.6

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Hospice News

AUGUST 6, 2024

Empath Health Jonathan Fleece speaks at Hospice News’ 2023 Elevate Conference Empath Health, in its current form, emerged in 2020 from a merger with Stratum Health, where Fleece was previously CEO. The organization is the parent company of 20 affiliates and four philanthropic foundations.

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Hospice News

FEBRUARY 8, 2024

of Georgia’s population in 2023 and is expected to grow at an average annual rate of 1.27%, according to the state’s Department of Human Services. By 2023, the proportion of seniors is expected to exceed 20%. Seniors represented 14.7%

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Hospice News

MAY 7, 2024

About 128 new enrolled hospices entered California in 2023, according to data from CMS. Overall, about 69% of all newly licensed hospices in 2023 were located in Arizona, California, Nevada and Texas. And they continue to pop up in the four affected states.

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Hospice News

NOVEMBER 8, 2024

Net loss was $118 million in the third quarter of 2024 compared to a net loss of $31 million in the third quarter 2023. Medical margin showed a $58 million loss in Q3, compared to a positive $111 million in the third quarter of 2023. Nevertheless, agilon experienced growth when it comes to total revenue and patient membership.

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Hospice News

AUGUST 19, 2024

Bristol in 2023 opened a double-digit number of new offices and has plans to do the same this year, Mauricio said. Mauricio took the helm at Bristol in February 2023. “With our relationships, our organization, our clinical model when it comes to the care delivery, we can grow organically and make that our focus.”

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