2022 Guidance and E.S.G. Considerations
Home Health and Hospice Segment (Adjusted) - 4Q 2021 (1)
Home Health total volume growth +2%; Hospice Admit Growth -1%
HOME HEALTH
HOSPICE
Year Ended
Year Ended
$ in Millions
4Q20 4Q21
2020
2021
$ in Millions
4Q20
4Q21
2020
2021
Medicare
Non-Medicare
228.3 230.1
101.1
Home Health Revenue
107.2
$329.4 $337.3
847.3
401.9
$1,249.2
914.5
439.3
$1,353.8
Medicare
Non-Medicare
Hospice Revenue
193.5
193.9
710.0
743.6
10.4
11.0
$203.9 $204.9
40.1
$750.1
41.7
$785.3
Gross Margin %
Pre-Corporate EBITDA
(2)
44.2%
$65.2 $62.9
19.8% 18.7%
43.8%
43.5%
45.1%
Gross Margin %
49.3%
46.4%
48.3%
$236.7
$281.6
Pre-Corporate EBITDA
(2)
$52.7
$41.0
$187.4
46.9%
$169.7
19.0%
20.8%
25.8%
20.0%
25.0%
21.6%
Operating Statistics
Operating Statistics
Same Store Growth (3)(4)
Total Volume
5%
Total Admissions
6%
do do
2%
2%
5%
Admit growth - same store (4)
ADC growth - same store (4)
15%
-1%
6%
2%
0%
-4%
1%
-4%
2%
1%
6%
ADC
13,793
Avg. discharge length of stay
102
13,237
90
13,081
13,271
99
94
Medicare Revenue per Episode (5)
$2,906
$2,951
2,836 $ 2,959
Medicare Recert Rate
34.5%
35.1%
36.3%
35.1%
$100.69
$106.67
$95.59
$101.46
Revenue per day (net)
Cost per day
$160.72 $168.24
$81.45 $90.23
$156.69 $162.12
$81.02 $86.15
Total Cost per visit
•
•
Home Health Highlights
Revenue per Episode up 1.5% (+1.9% rate increase effective
1/1/2021)
Y/Y CPV up $5.98 (+5.9%, primarily due to raises, new hire pay,
clinician bonuses, wage inflation and health insurance)
Visits per Episode decreased 0.3
Hospice Highlights
Net revenue per day +4.7% (primarily due to +2.0% Hospice rate
update effective 10/1/2021 and favorable cap adjustments)
1.
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2.
3.
4.
5.
The financial results for the three-month periods and years ended December 31, 2020 and December 31, 2021 are adjusted for certain items and should be considered a non-GAAP
financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period.
Pre-Corporate EBITDA does not include any corporate G&A expenses.
Same Store information represents the percent change in volume or admissions for the period as a percent of the volume or admissions of the prior period.
Same Store is defined as care centers that we have operated for at least the last 12 months and startups that are an expansion of a same store care center.
Average Medicare revenue per completed episode reflects the transition to PDGM effective Jan. 1, 2020 and the suspension of sequestration effective May 1, 2020.
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