Hospice care is a type of care that offers support and care for patients during their last phase of life. It focuses on critically ill patient’s pain and symptoms, and attending to their spiritual and emotional needs, with an approach to improve the life of patients and their families associated with a life-threatening illness. Hospice care can be offered by autonomous hospices or through programs based in nursing homes, health care organizations, outpatient clinics, and hospitals.
It can also be offered in the nursing home, patient’s home, a hospital, or private hospice facility. Home hospice care is usually less expensive than that provided in hospitals, nursing homes, or other institutional settings as the cost of additional staff and highly equipped facilities is circumvented when at home. Moreover, patients prefer hospice care as the patient desires to spend the rest of their life with loved ones at home. This kind of service provides compassionate care for people in the last phases of incurable disease so that they may live as fully and comfortably as possible.
Hospice programs offer symptom relief and pain management care (in terms of comfort rather than cure) for patients with life-terminating illnesses in the comfort of their own home. The Hospice sector is a highly fragmented industry with many small players offering a wide variety of hospice and palliative care services to an aging population.
The Hospices and Palliative Care Centers sector had grown robustly prior to 2014. Medicare and Medicaid reimbursement support, the aging of the US population and growing popularity of at-home end-of-life care all supported this trend. However, Medicare reimbursement cuts in 2012 and 2013 caused a revenue decline for Hospice providers. As a result, industry revenue declined until 2019, when reimbursement rates began to recover.
The rising elderly population coupled with the increasing prevalence of chronic as well as age-associated diseases is anticipated to boost the growth as well as prevalence of cancer, dementia, and respiratory, cardiovascular, and kidney diseases among the geriatric population is projected to further drive the growth.
M&A Transaction Activity
Below are M&A transaction activities which has been compiled from our work with businesses within this sector and our independent research in publicly available information. For additional information, please contact us here.
