Literature Review

The Pennant Group to seek more hospice, home health deals in 2025 Hospice News; by Jim Parker; 11/7/24 The Pennant Group (Nasdaq: PNTG) has a “robust pipeline” of potential acquisitions in the wings for 2025 across its home health and hospice and senior living business segments. For prospective deals, Pennant scouts for agencies that show strong promise for organic growth that have “talented” local leaders or entrepreneurs in place, according to CEO Brent Guerisoli. Pennant then leverages the resources in its platform to foster growth. “Developing local leaders remains at the heart of our operating model,” Guerisoli said in a Q3 earnings call. “As the talent and experience operations and clusters deepens with strong portfolio companies, our efforts throughout our footprint, we are able to more quickly improve new acquisitions and grow seasoned operations, thus the significant investment we have made in our leadership and development programs is the catalyst for enduring momentum.” Pennant is the holding company for a cluster of independent hospice, home health and senior living providers located across 13 states. Year to date, the company has added more than 60 CEOs to its portfolio agencies as well as 40 internal clinical leaders.

[Nebraska Department of Correctional Services] NDCS launches hospice care volunteer program News 2 North Platte, NE; 11/4/24 A new program is aiming to bring transformative change to end-of-life care in Nebraska correctional facilities. The Nebraska Department of Correctional Services recently launched a hospice care volunteer program to ensure terminally ill patients are not alone in their final moments. The first cohort of 16 volunteers selected from the Reception and Treatment Center completed 10 weekly trainings, delivered by healthcare professionals. The trainings covered various aspects of hospice care, including communication skills with patients and families, confidentiality, end-of-life care and stress management. In the program, volunteers work with NDCS team members and healthcare providers a few hours each day to addresses the physical, emotional and spiritual needs of incarcerated individuals who have a terminal diagnosis. This will allow them to maintain employment within the facility and participate in programming, NDCS said.

Early palliative care may curb aggressive end-of-life care Medscape; by Marilynn Larkin; 11/6/24 Increasing the uptake of palliative care may decrease the aggressiveness of end-of-life care, an analysis of ovarian cancer decedents suggested. Palliative care initiated earlier than 3 months before death was associated with lower rates of emergency department (ED) visits, hospital admissions, and intensive care unit (ICU) admissions in the last 3 months of life. It was also associated with a lower rate of death in the hospital. “When patients with advanced or incurable cancers experience aggressive end-of-life care, spending their final weeks of life in and out of the ED or admitted to acute care hospital wards or the ICU, where they undergo invasive tests or procedures that may not meaningfully prolong life or address symptoms or suffering, this can be very distressing for patients and their caregivers,” lead author Sarah J. Mah, MD, of McMaster University in Hamilton, Ontario, Canada, told Medscape Medical News.

It takes more than love to care for a loved one Tri-Cities Area Journal of Business; guest column by Jason Erskine, AARP; 11/5/24 Chances are, if you aren’t a family caregiver, you know someone who is. Every day, more than 820,000 Washingtonians help their parents, spouses, siblings, grandparents, neighbors and other loved ones to live independently at home – where they want to be. November is National Family Caregivers Month, a time to highlight the important work these folks do. But simply thanking them isn’t enough. ... AARP and United Way have teamed up to connect caregivers with trained, compassionate people in your community who can help you find AARP caregiving resources and more. It’s called 211, it’s a free service, and you can talk to specialists who can help you find local resources for caring for your loved one … and for yourself too. ... AARP Washington is here to help with information and resources to support and connect caregivers. Go to: aarp.org/caregiverswa.

You treat a disease, you win, you lose. You treat a person, I guarantee you, you'll win, no matter what the outcome. ~ Patch Adams

How hospices can leverage palliative care to ‘stay relevant’ in value-based care Hospice News; by Jim Parker; 11/6/24 U.S. health care is moving steadily towards value-based reimbursement, and having a robust palliative care program can help hospices ensure they are not left behind. The U.S. Centers for Medicare & Medicaid Services (CMS) is working to ensure that 100% of Medicare beneficiaries are aligned with a risk-based payment model by 2030. This can include Medicare Advantage (MA) and Accountable Care Organization (ACO) programs. With hospice reimbursement confined to the traditional Medicare benefit, a palliative care program is a likely entry point for those providers to access value-based reimbursement, Sue Lynn Schramm, a partner of the hospice and palliative care consulting company Confidis LLC, said in a presentation at the National Hospice and Palliative Care Organization Annual Leadership Conference. This may be even more the case now that the hospice component of the value-based insurance design model (VBID), often called the Medicare Advantage Hospice Carve-In, is ending on Dec. 31, Schramm said.

UP Health System Hospice coming to Dickinson County The Daily News, Iron Mountain, MI; 11/5/24U.P. Health System Hospice will begin bringing its hospice care to Dickinson County. UPHS’s goal is to improve the quality of life for patients and their families by providing compassionate and comprehensive care during the final stages of life. U.P. Health System Hospice has made it the mission of its agency to change end of life care in the U.P. and its most rural communities by bringing awareness to hospice services, advocating for patient rights, and working hand-in-hand with the medical community to help more people receive support in their health care. 

Your overall leadership success comes down to 2 simple strategies, say experts: These strategies should be top of mind as you plan ahead for 2025. Inc.; by Marcel Schwantes; 11/5/24 In 2001, Anne Mulcahy suddenly found herself in charge at Xerox as its CEO right when the company was going through a major financial crisis. In previous interviews, she mentioned that one of the first things she did was pick up the phone and call Warren Buffett for advice. Buffett, the CEO of Berkshire Hathaway, told Mulcahy: “Focus on your customers, and lead your people like their lives depend on your success.” Buffett’s advice was exactly what helped Xerox pull through. The first part of this two-part strategy—focusing on customers—was key. Mulcahy often quotes Xerox founder Joe Wilson, who said, “Customers decide whether we have jobs or not. Their attitude is what makes or breaks us.” But the second part of Buffett’s advice often doesn’t get enough attention. Regarding good leadership, taking care of your employees first is the best way to win over your customers. Happy employees lead to happy customers.

VITAS touts significant Q3 success, projects future growth McKnights Home Care; by Adam Healy; 10/31/24 VITAS, the home care and hospice subsidiary of Chemed, achieved robust financial results in the third quarter of 2024 and is poised for continued growth, company leadership said Wednesday during an earnings-related conference call. “We are excited about the continued strong results of VITAS,” Kevin McNamara, president and chief executive officer of Chemed, said, according to a transcript. “We are very bullish on the prospects for VITAS for the remainder of 2024 and beyond.” In the quarter ended Sept. 31, VITAS generated $53.4 million in profits, a 20.6% increase compared with the prior year quarter. Revenues rose 17.2% to $391.4 million. Chemed as a whole produced $75.7 million in net profit, a 1% increase year-over-year, behind revenues that increased nearly 7.4% to $606.1 million, according to an earnings report.

Hopeful for the hospice house Gillette News Record; by Jonathan Gallardo; 11/2/24 Last week, Campbell County Health and the Northeast Wyoming Community Health Foundation announced that they were working together to look at bringing back inpatient services to the Close to Home Hospice House. For many, I’m sure the announcement came as a surprise. The split between the two sides was so public and was drawn out over a couple of years. Bridges had seemingly been burned, never to be crossed again. But wouldn’t you know it, those bridges appear to be on the mend. In their announcements, CCH and the foundation both said they’ve been in talks about what it would take to reopen Close to Home. “Our primary focus is the well-being of our community, and we are committed to transparency as we engage in these preliminary discussions,” CCH said in a press release. 

Chicago Pacific Founders sells 20 communities valued at $725 million to Ventas McKnights Senior Living; by Kathleen Steele Gaivin; 11/1/24 Chicago Pacific Founders sold 20 senior living communities to real estate investment trust Ventas this week, the healthcare investment firm announced Thursday [10/31]. The properties are valued at $725 million, “representing one of the most significant senior housing portfolio sales in the United States for 2024,” according to CPF. “Senior living is a core investment strategy and one we continue to grow by purchasing and establishing new institutional-quality communities, and this sale demonstrates the strength and attractiveness of this asset class,” CPF founder and Managing Partner Mary Tolan said. The 20-property portfolio includes independent living, assisted living and memory care communities located in what CPF called “strategic markets known for strong and growing demand for senior living.”

Why home health deserts are spreading across rural states Modern Healthcare; by Diane Eastabrook; 11/1/24 Home health deserts are increasing at an alarming rate across some rural states as home health companies close or reduce services due to financial challenges. Home health companies in Maine, Nebraska and Minnesota say a proposed Medicare rate cut, low Medicare Advantage reimbursements and workforce shortages are forcing them to make difficult business decisions — leaving many communities with limited access or no access to post-acute care in the home. ...  Approximately 800 home health providers have closed over the past five years, according to the National Alliance for Care at Home, a trade group that represents the industry. Alliance CEO Dr. Steve Landers mostly blames a Medicare home health payment model that went into effect in 2020 for reducing Medicare reimbursements and causing financial stress for providers. “While closures are significant, we are also getting reports that providers are restricting the territory they serve as a first step to addressing their financial stresses,” Landers said in an email. “This appears to be especially concerning in rural areas where no other provider is available to step in.”

Elevance is latest to invest in home health with Carebridge acquisition HealthLeaders; by Jay Asser; 11/4/24 The home-based care business is seeing increased interest and could be ripe for more activity going forward. Key Takeaways: