Smaller home-based care agencies could be forced to close their doors as a result of the coronavirus, creating merger-and-acquisition opportunities for larger providers in the space. However, the Paycheck Protection Program (PPP) adds a new layer of complexity to some of those M&A opportunities, specifically if an acquisition target is the recipient of a PPP […]
Category: Home Health Care
Pre-coronavirus, the home health and home care industries were already poised for historic consolidation, thanks to the Patient-Driven Groupings Model (PDGM), rising minimum wages and other operational pressures. Industry leaders predict that the COVID-19 emergency will only drive M&A further going forward. However, home-based care businesses interested in picking up new agencies should heed caution, […]
More than six months have passed since the Patient-Driven Groupings Model (PDGM) took effect. Despite the ample runway, many home health providers are seemingly still adjusting their therapy strategies, prolonging the initial layoffs, pay cuts and furloughs that took place at the beginning of the year. The coronavirus is largely to blame for the continued […]
CareCentrix — a care management company that focuses on home-based care — has brought on a long-time managed care veteran to expand its service offerings to Managed Medicaid health plans. Hartford, Connecticut-based CareCentrix provides post-acute care and discharge management services, plus durable medical equipment (DME) and home-based care services. Moving forward, Scott Markovich will serve […]
The Pennant Group Inc. (Nasdaq: PNTG) announced Wednesday that it has purchased two home health agencies with multiple locations throughout southeastern Idaho and northern Utah. The financial terms of the deal were not disclosed. The Pennant Group came to fruition last year, a spinoff of the Ensign Group (Nasdaq: ENSG). Before the newly announced deal, […]
Addus HomeCare Corporation (Nasdaq: ADUS) announced Wednesday it has purchased Kalispell, Montana-based home care provider A Plus Health Care Inc. Addus completed the deal on July 1, with funding provided by cash on hand. No other financial terms of the transaction were disclosed. With seven office locations across Montana, A Plus Health Care’s service lines […]
As most states have fully reopened and the larger push towards normalcy continues, home health providers are still reeling from the impacts of the COVID-19 emergency. In fact, more than 82% of home health providers reported revenue reductions in May. That’s according to a new survey conducted from June 3 to June 18 by the […]
In-home care providers may have another legal concern to watch out for during the remainder of 2020 and beyond. At a time when states are seeing widespread protests against police violence toward Black Americans and other people of color, workplace discrimination is increasingly being thrust into the spotlight. With conversations surrounding deep-rooted racial injustice growing […]
In the first three months of the year when home health agencies were adjusting to the Patient-Driven Groupings Model (PDGM), the national low-utilization payment adjustment (LUPA) rate hit 9.5%. LUPA rates reached their height in March, when the coronavirus took the U.S. by storm. Those were just a couple key takeaways from a BlackTree Healthcare […]
The U.S. Centers for Medicare & Medicaid Services (CMS) released its proposed home health payment rule for 2021 last Thursday — the first time in a number of years the agency has done so in June. With relatively minimal changes, CMS’s proposal grants the home health industry a level of much-needed stability during a chaotic […]
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