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Hospices nationwide have been diversifying their services to include palliative care, PACE, home-based primary care and a host of other business lines. However, some organizations have found success with disease-specific programs reimbursed through the MedicareHospice Benefit. Also in 2024, The Connecticut Hospice Inc.
A guilty plea has been filed in a hospice fraud scheme that allegedly bilked Medicare for $17 million in false claims. Fichidzhyan was among the five individuals that the FBI arrested in June 2024 in connection with the hospice fraud and money laundering scheme. Justice Department. Justice Department.
After a rocky year for M&A, two of the publicly traded hospice providers are poised to pursue more deals in 2024. While the majority of the hospice industry is not publicly traded, the actions of those large companies can have an impact on smaller organizations that are on the hunt for deals.
The nation’s publicly traded hospicecompanies 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. million during 2024’s first quarter, a 24.1% year-over-year increase.
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.
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. We’re very well-poised going into 2024 to start executing on our growth strategy. That keeps me up at night.
The 2025 proposed hospice rule is raising some questions along with payment rates. Centers for Medicare & Medicaid Services (CMS) proposed a 2.6% increase in hospice per diems for 2025. We know that hospice care has demonstrated $3.5 Hospice care saves Medicare roughly $3.5
With wages, salaries and associated costs rising nationwide , hospices are straining under the weight. Centers for Medicare & Medicaid Services’ (CMS) proposed 2.8% base rate increase for 2024 is inadequate to support their needs. told Hospice News. “I Some have called on the agency to institute a 6.5%
The practice appears to stem from a rash of newly licensed hospices that have emerged in California, Nevada, Texas and Arizona. Some of these providers have secured licenses, as well as Medicare certification and, sometimes, accreditation. In that time frame, Nevada saw 56 newly certified hospices, and 369 emerged in Texas.
(NYSE: EHAB) is continuing to mull over a potential sale, with executives providing few details as the company determines its next steps. The Dallas-based home health and hospicecompany has been digging into a strategic review process since August that could result in a possible sale or merger of some or all of its assets. “As
SEIU analyzed Medicare claims data showing that the average hospice transfer rate among HCA hospital discharges was nearly 40% above the national average in 2021 and represented a 50% growth rate over four years. For one, hospice utilization has been on a steady upswing nationally for several years. told Hospice News.
Some of these providers have secured licenses, as well as Medicare certification and, sometimes, accreditation, multiple hospice executives told Hospice News on background. They then proceed to enroll a small number of patients, for whom they sometimes never bill Medicare.
The program is designed to recognize up-and-coming industry members who are shaping the next decade of home health, hospice care, senior housing, skilled nursing, and behavioral health. Tej Dhillon, founder and CEO of Seva Hospice, has been named a 2024 Future Leader by Hospice News. I knew of the benefit.
Hospice leaders will need to keep their eyes on five key trends in the new year when it comes to compliance, business operations and finance. Hospice utilization reached 51.7% The number of hospice care days also saw increases, as did average length of stay and average number of patient visits per week.
The nations hospice utilization rate among Medicare decedents has once again surpassed 50%, for the first time since the pandemic. Hospice utilization reached 51.7% in 2023, up more than two percentage points from the prior year, according to recent data from the Medicare Payment Advisory Commission (MedPAC).
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