AMED (US)


August 13, 2025

[PNTG, EHAB, BTSG, ADUS, AMED, AVAH, UNH]: Where Might CMS Go with Home Health Rates?

By Beth Steindecker

With slightly more than two weeks left in CMS’s comment period for the CY26 Medicare reimbursement proposal rule for home health [PNTG, EHAB, BTSG, ADUS, AVAH, AMED, UNH], we continue to expect mitigation from CMS’s…

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August 3, 2025

Hospices, IRFs, IPFs: Thoughts on Final FY26 Medicare Payment Rules

By Beth Steindecker

Medicare’s final FY26 payment regulations for hospices [CHE, AMED, ADUS, PNTG, BTSG, Gentiva, Compassus, Elara], inpatient rehab facilities (IRFs) [EHC, SEM], and inpatient psych facilities (IPFs) [UHS, ACHC] aligned with expectations for: 1) slightly higher aggregate spending…

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July 1, 2025

[AMED, PNTG, EHAB, ADUS, BTSG]: Medicare Home Health Rates Worse Than Expected

By Beth Steindecker

Home health agencies [AMED, PNTG, EHAB, ADUS, BTSG, AVAH, UNH] received a negative surprise late Monday with CMS seeking to cut Medicare home health aggregate spending by 6.4% for CY26. The agency’s proposal to impose…

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June 23, 2025

Home Health: Potential Substance of Upcoming CY26 Medicare Rate Proposal [AMED, PNTG, BTSG, ADUS, AVAH]

By Beth Steindecker

In the upcoming CY26 Medicare payment proposal for home health (HH) agencies [AMED, PNTG, BTSG, ADUS, AVAH, UNH], which we expect within the next two weeks based on historical patterns, we think it is more…

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February 19, 2025

[CHE, ADUS, Gentiva, Compassus]: CMS Grants Hospices Their Wish on SFP But Careful What You Wish For

By Beth Steindecker

While hospices [CHE, ADUS, private Gentiva, Compassus] are receiving a reprieve for now from more intensive oversight and the threat of termination from Medicare after CMS announced it was going to sideline the statutorily mandated…

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January 17, 2025

MedPAC Provider Recs Likely to Be Ignored in Favor of Savings Targets Like Site Neutrality, Medicaid, Rule Repeals

By Beth Steindecker

We doubt Medicare Payment Advisory Commission’s (MedPAC) FY/CY26 Medicare payment recommendations for home health agencies, inpatient rehab facilities, skilled nursing facilities, hospices, dialysis centers, hospitals, and physician offices, which were voted on Thursday in nearly…

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December 11, 2024

Trump’s Anti-Trust Team Taking Shape

By Joe Lieber

President-elect Trump’s announcement last night that he intends to name current FTC commissioner Andrew Ferguson to chair the agency reinforces our long-held view that, in general, M&A / antitrust under Trump will be more market…

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November 12, 2024

(UNH, AMED) Reported Threat of DOJ Complaint Brings Overhang and Extended Invitation to Negotiate

By Beth Steindecker

Key Takeaways: We continue to expect that UNH’s acquisition AMED will be completed, despite reports that the DOJ is preparing to sue to block the $3.3B deal on antitrust concerns. While clearly a setback, this…

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November 3, 2024

[AMED, EHAB, PNTG]: Final CY25 Medicare Home Health Rates In-Line and Foreshadow Future CMS Rate Pressures

By Beth Steindecker

Key Takeaways:  Changes to Medicare home health payments live up to expectations of a minimal increase, but with future negative adjustments following CMS’s release of its CY25 final rule Friday. As we wrote in mid-October,…

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October 17, 2024

[AMED, EHAB, PNTG]: History Suggests Slight Home Health Medicare Rate Increase, But Risk of a Cut Remains Unappreciated

By Beth Steindecker

Key Takeaways:  Medicare reimbursement history suggests home health agencies are in store for a very low single-digit increase YoY in overall Medicare payments and their 30-day base rate when CMS issues its final CY25 payment…

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