Hospice News March 26, 2023
When it comes to labor, hospice providers are walking a balance beam between the need to increase capacity and the long-term sustainability of offering bonuses, tech investments and larger benefits packages.
Publicly traded hospice providers have reported improvements on turnover and workforce shortages. But the strides have come at a cost. While the public companies do not represent the entire industry, their obligation to keep investors informed regarding their financial performance can provide insights into larger trends at a time when providers of all sizes are reporting astronomical labor expenses.
One consistent message these providers reported in their Q4 2022 earnings was that — while labor is improving —the upward swing comes with a hefty price tag.
For example, Chemed...