POSTED ON MONDAY, June 1, 2020
NAHC conducted a survey of hospice providers on the effect of COVID-19 on their business. The response was overwhelming. They received responses from almost every state and U.S. Territory on how the pandemic is impacting businesses.
“Given the challenges of anticipating how issues associated with the ongoing pandemic will play out over the remaining months of 2020, it should be noted that the survey findings reflect participants’ best estimates, based on current experience, of the anticipated impact of the PHE on costs, revenues, operations and admissions/referrals for the year. However, the findings offer important evidence of the challenges that hospice providers across the nation are encountering as they seek to meet the needs of terminally ill patients and their caregivers during an unparalleled time.”
“Patients Served/Referrals: Nearly two-thirds (61 percent) of hospices that responded to the NAHC survey have admitted confirmed COVID-19-positive patients on to service. At the same time, more than half of respondents saw a decrease in admissions during March 2020 as compared with March 2019.
Financial Impact: Sixty percent of hospices in the survey anticipate a decrease in annual revenues during CY2020, with just under 30 percent (28%) expecting a decrease of 15 percent or more. At the same time, over 80% of the hospices expect costs for CY2020 to increase, with nearly 25 percent expecting costs to increase by 15 percent or more.
Use of Technology-based Visits: Not surprisingly, more than 95% of hospices have had existing patients refuse visits due to fears associated with risk of exposure to COVID-19. And while hospices have been able to provide technology-based visits to continue patient care in some cases, nearly 24 percent of the hospices in the survey were able to substitute virtual visits in only limited or no cases.”
Source: NAHC Report
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