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Home Health & Hospice Week

Industry Note:

Profits Fall For Publicly Traded Home Care Chains

Published on Wed Aug 08, 2012

One company bucks the trend with increased income compared to last year.The 2.3 percent Medicare payment rate cut this year continues to hit home care providers in the wallet.Three of the four publicly traded home care chains saw profits fall in the quarter ended June 30, while revenues were more mixed. Atlanta-based Gentiva Health Services Inc. was the lone company that saw earnings increase, to $14.2 million in the second quarter from $5.3 million in the year-ago period. Gentiva achieved those earnings while closing branches and seeing earnings dip to $427.7 million from $448.7 million a year ago.Gentiva recorded better days sales outstanding (DSO) compared to the first quarter of 2012 -- 52 versus 61 days. And 45 percent of its revenues came from hospice, as opposed to 43 percent in the same time period of 2011.Both Amedisys Inc. and Almost Family Inc. saw revenues increase while net income fell. Baton [...]
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