Gentiva Health Services, Inc. (NASDAQ:GTIV), the the largest provider of home health and hospice services in the U.S. based on revenue, reported its fourth quarter and 2011 results on Feb. 7, showing losses of more than $449.8 million in the full fiscal year for a net loss attributable to shareholders of $450.5 million, or ($14.85) per […]
Category: Home Healthcare
Independent Living Systems, LLC, a long-term care, care management, post discharge, and nutrition services provider to the elderly and dual eligible populations, announced on Jan. 4 that it has completed a strategic recapitalization, with new investors including Oak Investment Partners, a healthcare and information technology investor, and healthcare private equity investment firm Mansa Capital. “ILS […]
Home health care is being made available for up to 10,000 Medicare patients through a health care reform law demonstration that seeks to improve care and lower costs for seniors and people with disabilities, announced the Centers for Medicare & Medicaid Services (CMS). “This program gives new life to the old practice of house calls, […]
The Ensign Group, Inc. (NASDAQ: ENSG) announced that one of its subsidiaries has acquired Homecare Solutions, a small home health agency based in Denver, Colorado. “We are pleased with the growth and development of our home health businesses thus far, and this lateral diversification broadens Ensign’s reach into that business,” said Christopher Christensen, Ensign’s President […]
The Centers for Medicare & Medicaid Services (CMS) issued a final rule last Monday that will cause an estimated 2.31% decrease in payments to home health agencies in calendar year 2012. The rule, which updates the Home Health Prospective Payment System (HH PPS) rates for 2012, could amount to $430 million less in payments, the […]
Kindred Healthcare, Inc. recently announced that its subsidiary has acquired the assets of Synergy Home Health Care, Inc. in a transaction with undisclosed financial terms. Kindred used its operating cash flows and proceeds from its revolving credit facility to finance the transaction, and did not assume any of Synergy’s liabilities or debt in the transaction. […]
After a scathing report from the Senate Finance Committee showed that some private home health care companies were providing the most profitable number of therapy visits regardless of patient need, the industry is starting to react. In a prepared statement, the National Association of Home Care and Hospice (NAHC) commended the Senate for calling to […]
Some private home health care companies have “gamed” the system by targeting the most profitable number of therapy visits, regardless of patient need, a Senate Finance Committee report found in September. Amedisys, LHC Group and Gentiva were found to be conducting the practice of pushing home visits on patients to reach the 10-visit threshold after […]
The Centers for Medicare and Medicaid Services’ (CMS) proposed changes to the home health prospective payment system (HH PPS) would lead to negative Medicare financial margins for more than half of all home health agencies, according to National Association for Home Care & Hospice’s (NAHC) analysis of data in the proposal. CMS released its proposed rules […]
Kindred Healthcare, Inc. (NYSE: KND) announced its subsidiary signed a definitive agreement to acquire the equity of Professional HealthCare for $51 million in cash. Professional is a provider of home health, hospice, and private duty nursing services and durable medical equipment with 27 locations in California, Arizona, Nevada, and Utah. According to Kindred, the company is generating […]
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