Our weekly list of news, reports, and information about home health and hospice care. Learn about new studies, trends, CMS regulations and more.
To better position themselves for changing demographics and other industry headwinds, a sizable chunk of home health providers plan to further diversify their specialty services within the next two years. That’s mostly true for everything apart from therapy-related services, which virtually no providers plan on expanding anytime soon. That’s at least according to a new study from Definitive Healthcare, a Framingham, Massachusetts-based provider of health care data and analytics. The organization released its 2019 Home Health Agency Study on Tuesday. Overall, the study included insights from 159 home health agencies, with the group consisting of roughly 70% agency-level providers and 30% corporation-type businesses. Of the 159 respondents, 73% said they generally planned to either expand or launch specialized care offerings.
With the home health industry less than one month away from the Patient-Driven Groupings Model (PDGM), agencies large and small certainly have their work cut out for them. Looking ahead, the only way to thrive in the midst of the upcoming payment overhaul will be to avoid maintaining the status quo. With a more complex coding landscape, new 30-day billing periods and other challenges, the old ways of running operations and billing departments simply won’t work. That’s according to Scott Pattillo, chief strategy officer at Dallas-based Homecare Homebase (HCHB), a company that provides cloud-based software solutions for home health and hospice providers. HCHB’s clients visit 90 million patients annually.
Amedisys (AMED) has announced the proposed acquisition of Asana Hospice for an undisclosed amount. Asana has developed a network of hospice care facilities with a capacity of approximately 540 patients. With the deal for Asana, AMED is continuing to deploy resources to add to its hospice care network in the U.S., but the stock is pricey at its current level.
Hospice Care Market 2019 - Know the Latest Strategies of Key Players: IMPAK Corporation, Desiccare, Inc., WidgetCo, Absortech, etc.
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