Literature Review

Gentiva Hospice Opens New BranchGreeneville (TN) SunDecember 6, 2023Greeneville, TN—Gentiva Hospice held a ribbon-cutting ceremony at its new location Dec. 1. ... The new branch in Greeneville will provide support to patients, families and facilities in Greene and Cocke counties, according to information provided by the Greene County Partnership.

Care Advantage Acquires Nova Home Health Care, Delivers On 18th Acquisition Since 2018Home Health Care NewsDecember 6, 2023Care Advantage announced Tuesday that it has acquired Nova Home Health Care. The acquisition expands Care Advantage’s Northern Virginia footprint—a market that CEO Tim Hanold believes is an important one for current and future growth. ... Hanold told Home Health Care News, “... Northern Virginia is part of the Metropolitan D.C. area, and is a very diverse market. We want to make sure that we’re approaching that in a smart and culturally sensitive way.” Richmond, Virginia-based Care Advantage is a home-based care company that has more than 45 locations throughout Virginia, Maryland, Delaware, Washington, D.C., and North Carolina. The company offers both personal care and home health care services. On its end, Nova Home Health Care is a personal care company that serves the Medicaid population. The company has ties to a number of different communities that make up the diverse population in the area. “They have real deep market penetration with the Vietnamese community, as well as the Hispanic and African American communities,” Hanold said.

How PE Firms Are Adjusting Hospice Exit Strategies in a Shifting MarketHospice NewsDecember 6, 2023Private equity firms typically turn around and sell an asset within three to five years post-acquisition. However, some may slow that cycle down in today’s economic environment. The presence of private equity firms in the hospice arena has expanded exponentially during the past several years. But this year, deal volume slowed across the board. While the slowdown applies to all buyers, the decline in private equity transactions is particularly noteworthy because they were among the most aggressive acquirers in the space between 2019 and 2022. 

Prineville Hospice Auction raises $180,000Central Oregonian (Prineville, OR)December 6, 2023Prineville, OR—St. Charles Foundation’s annual Prineville Hospice Auction was a tremendous success, with more than 550 individuals in attendance and raising more than $180,000 to support hospice programs. The dollar amount smashed the stated goal of $110,000 prior to the event. The annual event, hosted at the Crook County Fairgrounds Indoor Arena included a dinner, silent auction, raffle and a lively live auction of handmade quilts and elaborately decorated Christmas trees. 

Marilu Henner, actress of ‘Taxi’ fame, to speak at Sarasota-Bradenton Tidewell eventBradenton (FL) HeraldDecember 6, 2023Sarasota, FL—Marilu Henner, who came to fame as Elaine O’Connor-Nardo in the sitcom “Taxi,” had only just begun her remarkable career when the series premiered in the late 1970s. She went on to star in 72 films, seven Broadway shows and a second hit sitcom, “Evening Shade.” Henner, 71, is scheduled to be the keynote speaker for Tidewell Foundation’s 15th Annual Signature Luncheon on March 1 at The Ritz-Carlton, Sarasota. ... Henner is a spokesperson for Alzheimer’s disease awareness. She has been an advocate for hospice care, and in 2019 she became a spokesperson for the National Hospice and Palliative Care Organization. Proceeds from the luncheon help the Tidewell Foundation fund charity care, grief support services, specialized veterans care, music therapy, telehealth and other programs.

OIG Report - Louisiana Nursing Home Background ChecksPress Release 12/6/23.Louisiana should improve its oversight of nursing homes' compliance with requirements that prohibit employment of individuals with disqualifying background checks.

Hospice awareness campaign launched to educate D.C. residents about care benefits

Circle of Life Hospice announces major donation for Hospice House ProjectKOLO-TV (Reno, NV)December 5, 2023Eno, NV—Circle of Life Hospice Foundation is excited to announce an individual has donated a house and additional land to the Hospice House Project. The plan for this project is to create a community-based social model for end-of-life care that is provided in a “home-away-from-home” environment for individuals who are unable to die in their own home. Resident care is provided by a combination of family members, volunteers and paid caregivers in collaboration with the many medical-hospice providers in the Reno area.

2023’s Most Impactful Hospice DealsHospice NewsDecember 5, 2023A rich mix of hospice merger and acquisition activity at the end of 2023 is fueling trends into next year. Hospice M&A activity has diverged from the frenzied pace set in recent years. The hospice space in the last five years has seen record-breaking multiples, a prevalence of private equity-backed platform transactions and large-scale assets up for grabs. This year saw a slow but significant start, with mainly smaller and fewer hospice transactions taking place. As valuations have come down, asset sizes have varied and the scope of buyers has pivoted. However, the hospice market also saw a number of multi-billion-dollar “mega-deals” involving payers that stand to reshape aspects of the industry. The forthcoming sale of Amedisys to Optum marks one of the most significant transactions in the hospice industry in terms of valuation and buyer trends.

Dartmouth Health finances improveValley News (West Lebanon, NH)/VT DiggerNovember 29, 2023Lebanon, NH—Dartmouth Health continues to see a financial loss on operations, but the red ink has subsided substantially since last year, according to filings with bondholders last week. For the first quarter of fiscal year 2024, which ended Sept. 30, DH saw an operating loss of $8.2 million, or 1%.  Overall, including SVHC, expenses were up about 10% to $844 million for the first quarter of the year, over the same period last year. ... Meanwhile, revenues were up nearly 15%, or $107.5 million, compared with the same quarter last year. That was partially aided by SVHC’s membership, as well as by growth in patient volumes, contracted payment rates and higher inpatient acuity at DHMC, the system’s flagship academic medical center.

The Center to Advance Palliative Care Celebrates 20th Anniversary of its Palliative Care Leadership CentersNews ReleaseDecember 5, 2023New York, NY—Since 2000, the percentage of hospitals (with 50 or more beds) with a palliative care program has more than tripled, from 25% to more than 83%. Additionally, palliative care has expanded beyond the hospital into community settings such as long-term care facilities, nursing homes, office practices, and patient homes. This expansion and growth has been fueled by the Center to Advance Palliative Care’s Palliative Care Leadership Centers first launched in 2003 with funding from the Robert Wood Johnson Foundation. ... Over the past 20 years, more than 1,300 palliative care teams have trained with a PCLC. And, 80% of them went on to institute palliative care services within two years. Today, there are eight Palliative Care Leadership Centers, including:

Labor challenges slowing nonprofit hospital recovery—FitchModern HealthcareDecember 5, 2023Nonprofit hospitals and health systems are recovering financially but more slowly than expected, according to a report Fitch Ratings published Tuesday. Much of the sector has broken even in operations on a month-to-month basis in 2023, but it happened later in the year and to a lesser extent than analysts anticipated, the credit ratings agency reported. Labor costs, although softening, remain the top pressure point. Fitch is keeping the nonprofit hospital sector in the “deteriorating” category. Downgrades have outpaced upgrades by about 3-to-1 so far in 2023. Negative rating outlooks grew from 8.9% in 2022 to 10.7% this year. ... In 2024, operational success will largely hinge on how well hospitals recruit and retain employees, Fitch concluded.

Medical marijuana takes off in Mississippi, but stalls out in AlabamaBirmingham (AL) NewsDecember 5, 2023Alabama passed a law legalizing medical marijuana in May 2021. Mississippi followed seven months later in January 2022. While Alabama’s medical marijuana licensing process has faced several deadlocks in the face of lawsuits, mismanagement and political opposition, Mississippi’s has marched steadily forward. Its first dispensaries opened in early 2023, and the number has already grown to about 100 by year’s end, said Henry Crisler, assistant director of the Mississippi Medical Marijuana Association. ... Dispensary owners said the industry has encountered some obstacles in Mississippi but have also shown that medical marijuana has a place in the Deep South.