January 2023 (2022 overview)
We released the first Hospitality Index in Q3 last year, explaining the components of the index. In short, 2022 saw relatively steady admissions for hospice care, with a bump in the last half of the year for smaller facilities.
This Release OF HAI and HAVS
Stable Admissions Index Level
On a broad basis, monthly hospice admissions were relatively level in 2022. The overall index range ran from a low of 94(July) to a high of 115 (Dec). Smaller facilities saw an increase in year-end admissions. Larger facilities were steadily up and down, with a bump in December driven by one facility.
Impact of Facility Size
Hospices in our data set include smaller (fewer than 100 admissions/month) and midsized (100+ admissions/month) facilities.
Drivers of HAVS (Volatility)
Midsized facility HAVS was 50 (increasing from 31 last quarter) vs. 57 (down slightly from 64 last quarter) for smaller facilities.
We are seeing the volatility for larger and smaller facilities converge. But this was heavily influenced by one large facility that had a significant increase in December admissions.
HAI: Smaller vs. Larger Facilities
|Hospice Admissions Index|
|Low Vol||Hi Vol||Total|