Home Health & Hospice Week
Two Chains' Profits Fall In Latest Quarter
Two publicly traded home care chains saw their earnings fall this quarter.
Almost Family Inc. reported net income of $3.2 million on $86.9 million in revenues for the period ended March 31. That compares to a $4.9 million profit on $90.0 million in revenues for the same period in 2012.
The Louisville, Ky.-based chain said the 2 percent sequestration reduction cut into its results, as well as a switch to Medicare Advantage contracts that pay on a per visit instead of per episode basis.
Amedisys Inc. reported net income of $2.1 million on revenues of $339.2 million, compared to a $5.5 million profit on $370.8 million in revenues for the year-ago quarter.
The Baton Rouge, La.-based company recorded $5.7 million in legal fees related to investigations, it notes in a release. Sequestration cuts and declining volume impacted the company’s results.
"We are implementing plans to consolidate or divest non-performing care centers, trim our corporate infrastructure and refine our patient care management strategy focused on delivering the optimal level of care to drive improved clinical outcomes for our patients," CEO William Borne says in a release.
Home Health & Hospice Week
- Hospice:
CMS Cracks Down On Hospice Diagnosis Coding
Will new guidance broaden what you’re required to cover under the hospice benefit? Hospices are [...] - Diagnosis Coding:
Future Hospice Payment May Depend On Your Coding
Plus: Coding emphasis carries some positives Diagnosis coding may not affect your hospice payment level [...] - Strategy:
Use These 5 Tips To Tackle Hospice Coding
Should you spend money on certified coders? Don’t waste time sitting around to see what [...] - Fraud & Abuse:
VITAS Slapped With False Claims Lawsuit
Suit focuses on continuous home care More proof that the feds are cracking down on [...] - Reimbursement:
Palmetto Starts Reversing RAP Non-Payments
Get your corrective action plan in pronto to clear up cash flow delays. If you’re [...] - Industry Note:
Compare Yourself To Your Peers With Billing Report Data
CBR contractor issues benchmarks. You may not have been one of the nearly 5,000 home [...] - Industry Note:
OIG Has Hospice Inpatient Care In Its Sights
If your hospice lies at either end of the GIP spectrum, expect to take increasing [...] - Industry Note:
Use Claims Error Tool To Reduce Cash Flow Problems
You can facilitate quicker cash flow if you understand why your claims deny. To help [...] - Industry Note:
CMS To Terminate HIQH Next April
If you’ve been ignoring HETS, it may be time to pay attention. By April 2014, [...] - Industry Note:
Provider Lays Off Staff Due To Sequestration
The sequestration cuts are hitting providers where it hurts. Hospice of the Bluegrass in Lexington, [...] - Industry Note:
Miami Home Health Recruiter Lands 3-Year Sentence
A Miami home health recruiter who pled guilty to conspiracy to receive health care kickbacks [...] - Industry Note:
Two Chains' Profits Fall In Latest Quarter
Two publicly traded home care chains saw their earnings fall this quarter. Almost Family Inc. [...] - Industry Note:
County Sheds HHA In Continuing Trend
Livingston County, N.Y. is planning to sell its county home health agency, reports the Livingston [...]
