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Articles by Labor Pressures
Pennant Focuses on Recent Additions During ‘Uncharacteristically Quiet’ M&A Season
Like its industry peers, The Pennant Group Inc. (Nasdaq: PNTG) has had to navigate COVID-19 related business disruptions as well as other headwinds, some of which even prompted the company to start looking under its own hood for answers. Now, operating with the view that COVID and many of its impacts have become endemic, the company has a stronger sense of what’s in store for 2022.
Encompass Health Still Not Ruling Out Sale of Home Health and Hospice Segment
Some interesting news came across the wire Monday afternoon as Encompass Health Corporation (NYSE: EHC) provided an update on the separation of its home health and hospice business. Encompass Health had said in the past that it planned to spin off the segment into its own publicly traded company: Enhabit Home Health & Hospice. While that still seems to be the plan, it appears it’s a more tentative one than previously thought.
‘When Is Too Much, Too Much?’: Home Care Costs Continue to Increase
In order to keep pace with the labor market, as well as other contributing factors, home care providers across the country have had to increase the cost of their services. Those providers have also begun to wonder when — or if — those rising costs may start to affect client demand. Sign up for HHCN + to read this exclusive content. Individual Membership $400 per year Purchase Group 2–5 members $380 per year* Purchase Need more than 5 members? for more information. * per member Already a member?
A former partnership between the two companies in early 2017 led TelaCare CEO Larry Jones to offer an undisclosed buyout to the ViewMyID Health company.
Record High Behavioral Health Valuations Force Providers to Drive Growth Through De Novo and Smaller Deals
The behavioral health industry is coming off a record number of transactions and as multiples remain high, companies are having to get smarter about growth with so much competition for best-in-class providers, reports Behavioral Health Business. Proprietary data from the M&A firm The Braff Group shows that the behavioral health industry saw 251 deals completed in the space, up about 33% from 2020.
CareSource and Wayspring Launch In-Home Program for Substance Use Disorders
Nonprofit health plan CareSource has announced a partnership with value-based addiction treatment company Wayspring to launch an in-home care program for substance use disorder (SUD), Behavioral Health Business reports. The program – which is billed as the first of its kind – will initially be rolled out in Indiana and will be available to Medicaid enrollees in 25 counties in the central part of the state.
Home Health Segment Hit Hard By Labor Pressures
Addus HomeCare is the latest publicly traded home-based care company to disclose just how hard it was hit by workforce-related issues during the Omicron surge, Home Health Care News reports. LHC Group executives revealed last week that cost constraints due to labor issues cost the company approximately 2,500 admissions and a loss of $13.8 million in revenue in the fourth quarter.
Current Health Addresses Hypertension Care in the Home Through Parkland Partnership
In collaboration with Parkland Health & Hospital System, Current Health has set its sights on tackling hypertension through home-based care, reports Home Health Care News. The partnership is indicative of how telehealth and remote care management companies have capitalized on the larger shift of care to the home during COVID-19. The goal of Current Health and Parkland’s hypertension monitoring program is to lower patient risk through regular engagement. Read more.
WellSky Acquiring Patient Engagement Company TapCloud
WellSky, a digital health service company, scooped up patient engagement company TapCloud for an undisclosed sum, Mobi Health News reports. TapCloud will bring with it its virtual patient-facing app, which lets users communicate with clinicians and report symptoms. Patients can get daily reminders and educational resources through the app. The tool is also able to collect information about medication adherence and a patient’s social determinants of health.
Telehealth Revenue Could Hit $20B in Five Years, Analysts Say
A new report released by Bloomberg Intelligence predicted that the telehealth sector could bring in $20 billion in U.S. revenue by 2027. The Digital Reshaping the Health Care Ecosystem publication said that virtual care is set to “become a staple” of healthcare delivery, reports Mobi Health News.
Addus Steadfast on Growing Home Health Segment, Hit Hard By Labor Pressures
Addus HomeCare Corporation (Nasdaq: ADUS) is the latest publicly traded home-based care company to disclose just how hard it was hit by workforce-related issues during the Omicron surge. LHC Group Inc. (Nasdaq: LHCG) executives revealed Thursday that cost constraints due to labor issues cost the company approximately 2,500 admissions and a loss of $13.8 million in revenue in the fourth quarter.
Inside Arbor Company’s Response to Workforce Crisis, Occupancy Recovery
This fall, The Arbor Company will spend close to $500,000 on bonuses to award staff for reaching tenure milestones — and that’s just one part of the operator’s effort to address a labor crisis that is worsening across the senior living industry. “One of our two company goals right now is hourly staffing, from recruitment to engagement,” Arbor President Judd Harper told Senior Housing News, during an interview at the recent Argentum conference in Phoenix.
CDC Panel Recommends Pfizer Boosters for Older Adults, Leaving Out Workers
An advisory group with the Centers for Disease Control and Prevention (CDC) endorsed Pfizer Covid-19 vaccine booster shots for older adults and other people with health risks, but not for people whose occupations may cause them to frequently come into contact with the coronavirus, such as health care workers.
Brookdale Recovery Slowed — But Not Stopped — By Delta Variant, Labor Pressures - Senior Housing News
The Covid-19 delta variant has slowed Brookdale Senior Living’s (NYSE: BKD) occupancy recovery, which has been on a six-month upward trend. In particular, growth appears to be slowing in states and markets where the delta variant is spreading the fastest, the Brentwood, Tennessee-based owner-operator declared in a 8-K form filed Tuesday with the Securities and Exchange Commission (SEC), ahead of an investor meeting.
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