Addus Homecare Corp. (Nasdaq: ADUS) leaders believe that, no matter who won the recent presidential election, their company would have been set up well for the future. With that said, the Medicaid Access Rule may now be going away due to Donald Trump’s win, as well as the 80-20 provision.

“We really didn’t care so much who won the election, because we have done well historically, whether it’s a Democratic or Republican administration,” Addus CEO Dirk Allison said Tuesday at a conference hosted by the investment banking company Stephens.

Broadly, the Medicaid Access Rule was put forth by the Centers for Medicare & Medicaid Services (CMS) to create more transparency in home- and community-based services (HCBS). It also included the 80-20 provision, however, which would have mandated that a certain amount of reimbursement for HCBS go toward direct care workers.

While providers thought the Medicaid Access Rule was generally good policy, most had significant gripes with the idea of wage mandates, particularly because of how much HCBS varies by state.

“Our government relations folks have been working with our various associations as we’ve talked to the Trump administration,” Allison said. “What we understand now is that during the first year of the administration, we believe that he will do away with the Medicaid Access Rule, which is what we expected. That is definitely, I think, a tailwind for us.”

Based in Frisco, Texas, Addus HomeCare currently provides home care, home health and hospice services to over 48,500 consumers through 214 locations across 22 states.

The vast majority of the company’s revenue comes from HCBS, or personal care services.

“Whether or not it stayed or went, it was going to work for us, and it really won’t change what we do,” Allison continued. “But I think it might change some perceptions, especially maybe with some new shareholders that have come in over the last year or so, compared to some of the folks who have been with us a long time who have had time to talk to us and understand our feelings. So overall, I think the Medicaid Access Rule potentially going away is very solid.”

One potential headwind from another Trump administration that Allison noted was its more positive view on Medicare Advantage (MA).

MA plans have been a thorn in home health providers’ side, and generally pay far less for home health services than traditional Medicare.

A harsher regulatory and rate environment has given home health providers a bit more negotiating power with plans over the last couple of years.

“It seems that the Trump administration has talked more favorably about the Medicare Advantage players, which could affect home health a little bit,” Allison said. “Managed care, they don’t pay quite what fee-for-service does.”

While home health care is a key part of Addus’ growth strategy and value-based care plan in the coming years, it still represents a small business segment for the company.

In fact, personal care will own an even bigger slice of Addus’ pie moving forward, as the company looks to close its deal for Gentiva’s personal care assets by the end of the year.

But those two areas – home health care and personal care – will remain in focus when it comes to M&A for the company in the near-term future. Hospice, for the most part, will be backburnered.

“Adding complementary clinical services, there will probably be more opportunities for us around skilled home health in Texas and some other markets where we don’t have any clinical services today,” Addus CFO Brian Poff said. “It’ll mostly [be] personal care and home health. I think hospice, at the right price in the right markets, is something we’d still be open to, but probably a step behind personal care and home health as a priority.”

Addus leaders also said they expect M&A, in general, to open up more in 2025.