Profile: Almost Family Inc (AFAM.O)
19 Dec 2013
Almost Family, Inc., incorporated in 1985, along with its subsidiaries, is a regionally focused provider of home health services. The Company has service locations in Florida, Kentucky, New Jersey, Connecticut, Ohio, Massachusetts, Missouri, Alabama, Illinois, Pennsylvania and Indiana. The Company operates in two segments: Visiting Nurse Services (VN) and Personal Care Services (PC). The VN segment provides a range of Medicare-certified home health nursing services to patients in need of recuperative care, typically following a period of hospitalization or care in another type of inpatient facility. The PC segment provides services in patients' homes primarily on an as-needed, hourly basis. These services include personal care, medication management, meal preparation, caregiver respite and homemaking. On August 5, 2011, the Company acquired Cambridge Home Health Care Holdings, Inc. (Cambridge). On April 1, 2011, it acquired the assets of a home health agency owned by Caregivers, Inc. In October 2013, Almost Family Inc acquired a 61.5% interest in Imperium Health Management LLC. In December 2013, the Company announced that it has completed the acquisition of the stock of SunCrest HealthCare.
Visiting Nurse Services (VN)
As of December 31, 2011, the Company operated 47 Medicare-certified home health agencies with a total of 106 locations. The Company’s services are often provided to patients in lieu of additional care in other settings, such as long-term acute care hospitals, inpatient rehabilitation hospitals or skilled nursing facilities. Its nurses, therapists, medical social workers and home health aides work closely with patients and their families to design and implement an individualized treatment response to a physician-prescribed plan of care. Under the umbrella of its Senior Advocacy mission, it offers special clinically based protocols customized to meet the needs of co-morbid patient populations it serves. These include Frail Elderly Care Management, Optimum Balance, Cardiocare, Orthopedic and Urology. VN Medicare revenues are generated on a per episode basis rather than a fee per visit or hourly basis. . During the year ended December 31, 2011 (during 2011), approximately 92% of its visiting nurse segment revenues were derived from the Medicare program.
Personal Care Services (PC)
PC segment includes personal care, medication management, meal preparation, caregiver respite and homemaking. Its services are often provided to patients who would otherwise be admitted to skilled nursing facilities for long-term custodial care. Its services (generally provided by para-professional staff such as home health aides) are generally of a custodial rather than skilled nature. PC revenues are generated on an hourly basis. As of December 31, 2011, It operated 60 Personal Care locations. During 2011, approximately 81% of its personal care segment revenues were derived from the Medicaid program.
The Company competes with Amedisys, Inc., Gentiva Health Services, Inc. and LHC Group, Inc.
Almost Family Inc
Suite 300, 9510 Ormsby Station R
LOUISVILLE KY 40223