Hospice News May 12, 2022
Aveanna Healthcare (NASDAQ: AVAH) is seeing strong returns from its hospice and home health acquisitions while continuing to battle labor headwinds.
Industry-wide, workforce pressures from staff shortages and rising wages have not relented. While clinical staff were dwindling prior to the pandemic, the pace accelerated when COVID-19 struck. The surges that occurred late last year and into the first quarter hit many providers particularly hard.
For Aveanna, the number of staff on paid leave due to COVID infection or exposure ballooned substantially between late December 2021 and early March of this year.
“Prior to December, we were averaging between two and 300 employees sidelined on any given day,” Aveanna CEO Tony Strange said in a Q1 earnings call. “That number...
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