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ALMOST FAMILY INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2017 10-K, filed Feb 27, 2018. Its latest SEC filing is a SC 13G/A from May 10, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Provides Medicare-certified home health nursing and other in-home care to patients, plus healthcare assessment and care-coordination services for insurers and healthcare providers.

How Did They Make Money?

Medicare, Medicaid and private insurers pay for home-health services at a fixed rate per care episode; the company earns that amount as it provides care during the episode. Personal care is paid hourly and hospice by the day.

FY2017 revenue

Who Were Their Customers?

Home-health patients come through physician and hospital referrals, and personal-care and hospice patients through local referral sources; some marketing is consumer-direct. Healthcare-innovation services are marketed directly to healthcare providers and insurers.

Did Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2017.

Operating income, FY2017
4% of revenue
▼ −18% vs FY2016 ($35.4M, 6%)
Net income, FY2017
3% of revenue
▲ +16% vs FY2016 ($17.7M, 3%)

How Were They Changing?

Since the FY2017 annual report
  • Apr 2, 2018 Almost Family completed its merger with LHC Group Almost Family became a wholly owned subsidiary of LHC Group, and its shares were converted into LHC Group stock.

Grew. Revenue grew 2.2x in 4 years, from $356.9M in FY2013 to $797M in FY2017, about 22% a year.

Hospice services Home-based services include hospice, and the CHS Home Health acquisition added home health and hospice assets; the older business description covers visiting-nurse and personal-care services.

Assessment offerings Healthcare Innovations is described with in-home assessments for long-term-care insurers and managed-care organizations, while the older report describes ACO support and a planned health-system data platform.

Who Did They Compete With?

Competes with Amedisys, Kindred Healthcare, LHC Group, and Universal American

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