LHC Group’s joint ventures with hospitals and health systems are paying off handsomely as a growth strategy. The Lafayette, La.-based home health company’s fourth-quarter admissions for all service lines increased 13.2 percent relative to the same quarter a year ago, and its home health line increased 10.8 percent. CEO Keith Myers said during an earnings conference call earlier this month that the company’s total admissions have increased at a double-digit pace for four consecutive quarters, and organic growth and home health admissions have accelerated for the last six quarters.
“We have entered 2017 with significant operating momentum, which has only been strengthened by the January star ratings showing that we continue to lead our peer group in both quality care and patient satisfaction for the third quarter in a row,” said Myers. “We expect 2017 to be a year of further profitable growth, driven organically and through continued acquisition and joint venture program.”
LHC posted $914.82 million in revenue in 2016, a 12.1 percent increase over 2015. The company had net earnings of $36.58 million, about 4 percent net margin.
As of Dec. 31, 2016, the company operated 283 home health service locations, of which 70 percent were operated under joint venture with a hospital or health system. LHC operates 65 hospice locations, 11 community-based service locations, 189 licensed LTACH beds, a pharmacy, a family health center, a family health clinic and physical therapy clinics.