TCN Talks

Private Equity’s Impact on Hospice Care, The Good, the Bad, and the Ugly of Private Equity

Private equity firms are quietly reshaping the healthcare landscape, but at what cost? Today, we sit down with Laura Katz Olson, a distinguished professor of political science at Lehigh University and author of "Ethically Challenged," to uncover the unsettling truths behind private equity's involvement in healthcare. Laura's decades of research on aging and healthcare provide an eye-opening perspective on how these firms operate with minimal transparency, often at the expense of patient care.

Throughout our discussion, Laura breaks down the financial strategies these firms employ, like debt-loading and real estate selloffs, that jeopardize the long-term sustainability of the organizations they target. We contrast the profit-driven motives of private equity with the mission-oriented focus of nonprofit organizations, shedding light on the stark disparities in quality. From the aggressive expansion of private equity into sectors like home healthcare and student loans to the alarming rise in healthcare bankruptcies, the discussion paints a vivid picture of the ethical and operational challenges facing the industry.

We also explore the broader implications of private equity across various industries. As we wrap up, we celebrate the unsung heroes within the hospice community, whose dedication and compassion starkly contrast with a profit-driven approach. 

Join us for a compelling conversation.

Guest: Laura Katz Olson,  Professor of Political Science at Lehigh University

Host: Chris Comeaux, President / CEO of TCN / TCG


https://www.teleioscn.org/tcntalkspodcast/private-equitys-impact-on-hospice-care-with-laura-katz-olson

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

We uncover the hidden challenges and triumphs of the Hospice community in our latest episode of TCNtalks.  Join us, alongside Mark Cohen, as we discuss the impact of John Oliver's HBO episode on Hospice fraud, abuse, and neglect.  The conversation highlights the need for reputable providers from both the for-profit and nonprofit sectors to join forces to protect the integrity of Hospice Care. 

We also bring you the hottest topics from Hospice and Palliative Care Today, including insights on the CMS's 2025 Hospice Final Rule and alarming reports on fraudulent Hospices targeting the most vulnerable.
 
In this podcast episode, Mark Cohen joins Chris for more for the Top News Stories of the Month of August.  This is a new format as Mark has retired from publishing the Hospice News Today as he has transitioned it to Cordt Kassner and the daily publication has been rebranded as Hospice and Palliative Care Today.  You can subscribe for free here:  www.hospicepalliativecaretoday.com

With this new format, Mark and Chris highlight the top news stories you should not have missed, each from their different perspectives.  Mark as an editor, news aggregator, and longtime marketing Executive focusing on the quantitative data provided by Cordt’s team regarding the most clicked on and read stories, and Chris as a C-Suite leader of Hospice and Palliative Care.  

In this conversation, Chris Comeaux and Mark Cohen discuss the impact of negative media coverage the hospice sector.  They emphasize the importance of focusing on the quality of care and sharing positive stories to counteract negative perceptions while also preparing Hospice leaders for crisis communication scenarios.  Mark provides tips for effective crisis communication, including identifying and training spokespeople, and having a professional standing by to provide assistance.  The conversation concludes with a reminder to tell the Hospice story consistently and over time to build reputational goodwill. 

Guest: Mark Cohen, Strategic Communications Consultant/Cohen-Fyfe Communications 

Host: Chris Comeaux, President / CEO of TCN / TCG 

https://www.teleioscn.org/tcntalkspodcast/top-news-stories-of-the-month-august-2024

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

In this episode of TCN Talks, Chris interviews Annette Kiser, Chief Compliance Officer with Teleios and Judi Lund Person, Principal with Lund Person & Associates LLC.  The conversation covers the need to know around the final published 2025 Wage Index for Hospices.  Some of the key points discussed are: 

• The rate increase of 2.9%.
• The CBSA is an important factor in determining rates for Hospices, and changes can significantly impact reimbursement.
• The CAHPS Hospice Survey is undergoing changes, including the introduction of online survey options and revisions to the survey questions.
• Hospices need to stay informed about these changes and adjust their operational planning to ensure compliance and quality care.  The lag in reporting data can result in a delay of several years before the public sees the results of the Hospice Quality Reporting Program.
• Understanding and addressing patient care preferences is crucial for providing individualized and high-quality Hospice Care.
• Increased participation in the CAHPS Hospice Survey is necessary to gather valuable feedback from families and improve the quality of care.
• The implementation of the HOPE tool brings significant changes to the hospice industry, including additional questions and visits to assess symptom impact and social determinants of health.
• Regulatory changes regarding certification of terminal illness and the election statement provide clarity and align different sections of the Hospice Conditions of Participation.
• The future of Hospice Care involves a shift towards value-based arrangements and the collection of more detailed data to measure outcomes and improve quality of care. 

The conversation concludes with a discussion on the future of hospice care and the challenges and opportunities that lie ahead.  Annette and Judi are a wealth of experience and knowledge.  So join us, this is a great listen for staff, leaders, and Boards of hospice and palliative care organizations to become more educated about the changes that are coming and the tracks being laid with the 2025 Wage Index.  This is timely and relevant.   

Guest: 
Annette Kiser, Chief Compliance Officer with Teleios Collaborative Network

Judi Lund Person, Principal, Lund Person & Associates LLC

Host:
Chris Comeaux, President / CEO of TCN / TCG

https://www.teleioscn.org/tcntalkspodcast/the-need-to-know-on-the-2025-hospice-wage-index

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

Prepare to gain unparalleled insights into the current state of hospice care and healthcare. On this episode of TCN Talks, we promise to equip you with the knowledge needed to navigate today's healthcare complexities. From the latest updates on the NAHC-NHPCO Alliance's comments on the Hospice Care Act to the evolving trend of green burials, we've got the crucial news stories that matter. We'll also unpack the financial struggles facing for-profit healthcare systems and how community health systems are responding.

Ever wondered how private equity's growing influence is reshaping healthcare? Laura Katz Olson's eye-opening book "Ethically Challenged" serves as our starting point as we explore this provocative issue. Hear firsthand accounts and regional examples illustrating the delicate balance between necessary capital investment and its potential negative impacts on service quality and community trust. The discussion extends to rising unionization among healthcare workers and whether similar unrest is brewing in the hospice sector.

We don't shy away from the hard-hitting topics. From the destabilizing effects of removing large trauma centers to controversies around nonprofit hospitals' tax-exempt status, you'll get a comprehensive look at the challenges public hospitals face. We spotlight recent hospice fraud cases, revealing their devastating consequences on families and Medicare, and offer effective strategies for healthcare providers to maintain integrity and service quality. Additionally, Mark explores impactful healthcare marketing strategies, stressing the importance of skilled writing and editing in creating engaging content. Tune in for a deep dive into the multifaceted issues shaping today's healthcare landscape.

Guest 
Mark Cohen, Strategic Communications Consultant/Cohen-Fyfe Communications 

Host
Chris Comeaux, President / CEO of TCN/TCG


https://www.teleioscn.org/tcntalkspodcast/top-news-stories-of-the-month-july-2024

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

Can accountable care organizations (ACOs) truly revolutionize the healthcare landscape? Join us on TCN Talks as we welcome Larry Preston, the visionary CEO and co-founder of Silver State ACO. With an astounding 51 years of experience in healthcare, Larry takes us on a journey from the early days of ACOs in the 1970s to the present. Listen as he recounts Silver State ACO’s remarkable story of overcoming initial setbacks, including a failed partnership, and how leveraging the right IT and legal expertise has been pivotal in managing a minimum of 5,000 Medicare lives.

Our discussion continues with an exploration of the strategies that have driven Silver State ACO to achieve consecutive savings for eight years—a notable accomplishment among nearly 1,000 ACOs in the nation. Learn how strong hospital partnerships, strategic hiring, and meticulous compliance and clinical auditing have paved the way for success. Larry dives into the importance of being present in physician offices to ensure adherence to required formats and standards, a critical factor in maintaining high performance and quality care.

Lastly, we delve into the evolution of healthcare risk models and the transformative power of technology in patient care. From the initial 50-50 savings split to riskier models like the 75-25 plan, discover the financial and operational adjustments that Silver State ACO has undertaken. We also discuss the integration of hospice care within the ACO framework and future innovations in healthcare analytics. Larry’s insights are sure to inspire healthcare professionals to reflect on their own practices and the future of patient care in an ever-changing environment. Don't miss this chance to gain valuable knowledge from one of the leading minds in healthcare management.

Guest:  Larry Preston, CEO and Co-founder of Silver State ACO 

Host:  Chris Comeaux, President / CEO of TCN / TCG

https://www.teleioscn.org/tcntalkspodcast/the-dl-on-acos

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

What if you could transform healthcare quality and reduce costs simultaneously? Join us in this riveting episode as we welcome Dr. Will Faber, a family practice doctor and former hospice director, to unravel the complexities and potentials of Clinically Integrated Networks (CINs) in healthcare, particularly for hospice and palliative care providers. Dr. Faber shares his wealth of experience, shedding light on how these legal entities empower independent providers to collaborate effectively, meet Federal Trade Commission criteria, and stand strong against larger, for-profit healthcare entities.

Creating a successful CIN is no small feat. Listen to Dr. Faber discuss the critical steps beyond basic mergers, from establishing robust legal and operational frameworks to developing clinician-led governance structures. We emphasize the importance of a unified culture, inclusivity, and collaborative goal-setting in fostering true integration. Dr. Faber also highlights the rewarding nature of this endeavor and the importance of a supportive, non-punitive environment to achieve high-quality outcomes.

As we shift focus to driving quality within CINs, Dr. Faber explores the evolving landscape of healthcare goals, from the triple aim to the quintuple aim. We delve into the dynamic interplay between large organizations and disruptive innovators, and discuss the impact of for-profit motives on hospice care quality. Finally, we underscore the importance of measurement in leadership and management, sharing thought-provoking insights from industry experts on how effective metrics can lead to positive, tangible results in healthcare. Tune in for an episode packed with valuable insights and actionable strategies for building and sustaining high-quality, cost-effective healthcare networks.


Host:  Chris Comeaux, President / CEO of TCN/TCG
Guest:  Dr. Will Faber

https://www.teleioscn.org/tcntalkspodcast/is-your-organization-truly-clinically-integrated

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

Join us for an enlightening exploration of the latest advancements in hospice and palliative care. Discover the heartfelt stories of D-Day veterans, the remarkable journey of a terminally ill teen who became an honorary sheriff, and the impactful efforts of U.S. Representative Elizabeth Ann Van Duyne in combating hospice fraud. We also discuss the pressing issues surrounding advanced care planning for late-stage cancer, the increasing mental distress among older adults, and a critical report on Medicare and the healthcare delivery system.

Our conversation goes further into the evolving landscape of hospice care, examining the impact of Medicare Advantage plans, the growth of Silverstone Health, and significant ownership changes in California hospices. Learn about the collaborative affiliations between NOC and NHPCO, the Medisys divestiture, and the bold suggestion to abolish the 5% volunteer rule in hospices. We also highlight the importance of caring for LGBTQ+ patients and expand on Community Hospice's recent growth efforts, while considering the influence of private equity on hospice valuations.

Delve into technology's transformative role in healthcare, from addressing cybersecurity vulnerabilities in rural hospitals to the ethical implications of AI in hospice care. Hear thought-provoking discussions on the mental health challenges faced by hospice staff and the rising concern of CEO burnout in the healthcare industry. Finally, find motivation to embrace life changes, with inspiring insights on the joy of vacations and the perfect timing for new beginnings. This episode is packed with valuable information and heartfelt stories that will resonate deeply with hospice and palliative care leaders and staff.

The conversation concludes with another of Mark Cohen’s Master Classes on marketing, communications, and public relations tips, tactics and strategies.


Host: Chris Comeaux, President / CEO of TCN/TCG
Guest: Mark Cohen, Strategic Communications Consultant/Cohen-Fyfe Communications


https://www.teleioscn.org/tcntalkspodcast/top-news-stories-of-the-month-june-2024

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

What if you could stay ahead of the curve in hospice care while balancing inspiration and regulatory updates?  On this special episode, guest host Mark Cohen, stepping in for Chris Comeaux, engages in a rich conversation with Cordt Kassner and Joy Berger from Hospice and Palliative Care Today.  We dive into their meticulous process for curating news, offering insights into how they select articles that resonate with a diverse audience, ranging from C-suite executives to frontline clinicians.  Joy Berger highlights their interdisciplinary approach and the importance of balanced content to keep hospice professionals well-informed about the latest industry trends.

Discover the top healthcare trends from our May podcast as we cover everything from regulatory updates and mission moments to reimbursement challenges and workforce issues. Learn about the latest developments from CMS and HHS, and be inspired by stories like a 98-year-old Marine veteran earning his high school diploma.  We also address the pressing challenges of nursing shortages and the impact of unions, while examining how big companies are entering the healthcare space and the demographic shifts influencing the care of an aging population.

In another compelling segment, we explore the broader implications of years-long stories like the rise and fall of stories VBID and retail health clinics and whether the media covered these well.  Understand the effects on local healthcare ecosystems and the emergence of pharmacy and hospice deserts.  This episode underscores the necessity of proactive issues management in healthcare to stay ahead of sociopolitical trends and stakeholder expectations.  Join us for an insightful and heartwarming discussion that sheds light on the critical issues shaping the hospice and palliative care landscape.

Takeaways

• Issues management is crucial for healthcare organizations to anticipate and respond to emerging trends and changes in the sociopolitical environment.
• Staying informed about competition, workforce challenges, patient demographics, regulatory issues, technology and innovations, and more is essential for Hospice decision makers.
• Understanding different perspectives and engaging in interdisciplinary collaboration is key to effective issues management.
• Subscribing to Hospice newsletters and and listening to podcasts like this are the foundation of a solid issue management program.

Guest:
Joy Berger, Editor in Chief, Hospice & Palliative Care Today
Cordt Kassner, Owner / Publisher of Hospice and Palliative Care Today

Guest Host:
Mark Cohen, Strategic Communications Consultant/Cohen-Fyfe Communications
Biography

Blog page: https://www.teleioscn.org/tcntalkspodcast/top-news-stories-of-the-month-may-2024

0:01      Brevity in Hospice News Publishing

17:02   Top Trends in Healthcare Articles

32:49   Fluctuating Trends in Healthcare Environment

49:40   DeltaCareRx Sponsorship and Services

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

Can technology truly revolutionize home care? Join us as we chat with Betsy Hansen, a senior advisor from Lincoln Intelligence Group, who brings her extensive experience from digital strategy consulting for hospitals to the ever-evolving post-acute and home-based care sector. Betsy shares her journey and provides a unique perspective on how insights from acute care can be adapted to improve hospice and palliative care. She dives deep into the rapid acceleration of technologies that enhance electronic medical records in home care, shedding light on the role Lincoln Intelligence Group plays in identifying these transformative trends.

Facing the dual challenge of a staffing crisis worsened by COVID-19 and the aging baby boomer population, Betsy discusses how innovative technology can address these issues. Discover how AI and predictive analytics are now pivotal in managing seriously ill populations by enabling earlier interventions and reducing caregiver burdens through automation. Betsy explores the evolving demands of the baby boomer generation for more consumer-focused solutions, emphasizing the importance of technology in recruitment, retention, and team coordination within the post-acute care space.

What will the future hold for healthcare technology? Betsy shares her expert insights on the anticipated advancements in the next three to five years, particularly focusing on the role of generative AI in sectors like hospice, palliative care, and home health. Discussing the necessity of strategic implementation, she underscores the potential of AI to significantly enhance patient care and workforce efficiency. However, Betsy reminds us that despite these technological advancements, the essence of human touch in healthcare is irreplaceable. Tune in to learn how to wisely leverage technology to optimize care without losing the compassionate soul of caregiving.

Guest:  Betsy Hansen, Senior Advisor - Lincoln Intelligence Group

Host: Chris Comeaux, President / CEO of TCN/TCG

https://www.teleioscn.org/tcntalkspodcast/anatomy-of-emerging-technologies-in-homecare

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast

Ever wondered how community paramedicine is revolutionizing patient care? Join us in this episode of TCN Talks as we sit down with Mike Campbell, the Training Division Chief at Stanley County EMS in North Carolina, to explore this innovative healthcare model. Mike shares his journey and reveals how highly trained paramedics are now delivering advanced medical services right in patients' homes, drastically reducing the need for hospital visits. We'll discuss the remarkable benefits of this approach, especially for hospice and palliative care patients, who can now spend their final days surrounded by loved ones.

Curious about the financial and operational dynamics that make community paramedicine possible? Mike unveils the fascinating story of how Stanley County EMS secured initial funding from Blue Cross Blue Shield to combat the opioid crisis and expanded through county support and hospital partnerships. Discover the shift towards proactive care that helps prevent high-risk readmissions and the unique training community paramedics undergo to meet specific local needs. We'll also address the ongoing challenge of attracting new talent into EMS and the concerted efforts to ensure job satisfaction and career longevity for paramedics.

Education is the cornerstone of any successful healthcare initiative, and this episode highlights the critical role of HOSA (Health Occupations Students of America) in fostering the next generation of EMTs and healthcare professionals. Learn how North Carolina high schools are integrating EMT training into their curriculums, sparking a passion for public safety among students. Mike also shares his personal and professional insights into the evolving landscape of healthcare, emphasizing the importance of continuous learning and adaptation. From combating the opioid crisis to enhancing hospice care, this episode is packed with valuable insights into the transformative power of community paramedicine.

Teleios Collaborative Network / https://www.teleioscn.org/tcntalkspodcast