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Home Health & Hospice Week

Therapy Inquiry Dogs HHA Companies, Despite Profits

Published on Tue Jul 06, 2010

Publicly traded home care companies continue to fight the effects of Senate and Securities and Exchange Commission inquiries into abuse of therapy utilization. The latest stockholder class action lawsuits to be filed over the matter are against Almost Family Inc. (from San Diego law firm Robbins Geller Rudman & Dowd) and Gentiva Health Services Inc. (from Law Offices of Howard G. Smith in Bensalem, Pa.). Meanwhile, Gentiva has posted positive earnings for the quarter ended July 4. The Atlantabased national chain reports net income of $18.9 million on revenues of $297.1 million for the quarter. That's up from a $17.1 million profit on $284.8 million in revenues for the same period in 2009. Gentiva had strong hospice growth in the quarter and expects to close its acquisition of hospice chain Odyssey Inc. in the third quarter it says. Dallas-based Odyssey reported its own earnings. The company saw net income of [...]
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