Growth in Hospice Segment
The hospice segment achieved an 8.6% year-over-year increase in average daily census and a 6.5% year-over-year increase in total admissions. The hospice adjusted EBITDA margin improved to 23% in Q4.
Non-Medicare Admissions Increase
Non-Medicare admissions in the Home Health segment were up 10.7% year over year, driving a total admission growth of 1.8%.
Expansion of Payer Innovation Contracts
The percentage of home health visits in payer innovation contracts grew from 22% in Q4 2023 to 48% in Q4 2024, resulting in a 5.7% improvement year over year in non-Medicare revenue per visit.
Successful De Novo Strategy
Six new de novo locations were opened in 2024, with five in hospice and one in home health, funded by EBITDA from previous de novos.
Improved Cost Management
Cost per patient day in the Home Health segment increased by only 1% year over year, demonstrating effective cost management despite merit and market-related increases.