Home Health Care News June 5, 2024
New York has always been a challenging operating environment for Addus HomeCare Corporation (Nasdaq: ADUS). Thus, it came as no surprise when the company announced the sale of its personal care business in that market, as well as its fiscal intermediary services for the state’s consumer-directed care program.
On Wednesday, the Addus leadership team shed more light on the factors that led to this decision during a discussion at Jefferies Global Healthcare Conference.
“About three years ago, the state decided they were going to make some changes with CDPAP, and eliminate some providers,” Addus CEO Dirk Allison said during the discussion. “We were not chosen to stay, so we started refusing to accept new business, waiting for that to occur....
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