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WIKI ANALYSIS
Gentiva Health Services, Inc. (GTIV), headquartered in Melville, New York, is the nation's largest provider of comprehensive home healthcare services, with more than 500 owned and operated direct service delivery units at approximately 400 locations in 36 states. Gentiva derives revenues through the provision of (1) home healthcare services on a direct basis to patients, including specialty services and neuro-rehabilitation services (2) home healthcare services on an indirect basis through the delivery of national, regional, and local administrative services to managed care organizations and self-insured employers and (3) home healthcare consulting services to independent and hospital-based home health agencies. Operationally the company is divided into three business segments: Home Health CareCentrix and Other Related Services.
Direct home healthcare services to patients include: skilled nursing physical, occupational, speech and neuro-rehabilitation therapy services social work nutrition disease management education and assistance with daily living activities, as well as other therapies and services. The company's specialty services involve physical therapist-led orthopedic rehabilitation services and therapies for patients who have had joint replacements or other major orthopedic surgery. The company recently launched a similar specialty program for cardiopulmonary services. In addition, Gentiva's neuro-rehabilitation services, known as Rehab Without Walls, provide home and community-based therapies for patients with traumatic brain injury, cerebrovascular accident injury, and acquired brain injury, as well other complex rehabilitation cases.
Indirect home healthcare services include: national, regional, and local administrative services for managed care organizations and self-insured employers, which are provided through the company's CareCentrix business unit. These services include: central access, care coordination, utilization management, and claims processing. The divisional focus is the coordination of a wide range of home care services including traditional home nursing, chronic and acute infusion therapies, and durable medical and respiratory equipment to member patients of these managed care organizations.
On May 25, 2004, GTIV signed a five-year agreement to provide home care management and patient services to military personnel and their families in 21 states. TriWest Healthcare Alliance, based in Phoenix, Arizona, is a Department of Defense (DoD) contractor, and one of several private management service organizations that administer the TRICARE program in various regions of the U.S. and abroad. The contract, commenced on June 1, 2004, requires GTIV, through its CareCentrix unit, to administer managed homecare to TRICARE beneficiaries in 21 states. The contract between its CareCentrix Ancillary Care Benefit Management unit and TriWest Healthcare Alliance was terminated as of November 29, 2005.
Consulting services to home health agencies are delivered primarily via the company's Gentiva Consulting (formerly Gentiva Business Services) unit and include billing and collection activities, web-based caregiver training and credentialing, on-site agency support and consulting, operational support, and individualized strategies for reduction of days sales outstanding. Gentiva Health Services' operations are concentrated in Florida (over 40 locations), California, Illinois and Michigan. The company derives revenue from commercial insurance, federal and state government healthcare programs, like Medicare and Medicaid and directly from individual customers.
On January 5, 2006, GTIV announced a definitive agreement to purchase Atlanta-based home-health provider The Healthfield Group Inc. for $454M in cash and stock. Healthfield is a leading provider of home healthcare and hospice with approximately 130 locations concentrated primarily in eight southeastern states. Healthfield agency locations include: Alabama Florida Georgia Michigan North Carolina South Carolina Tennessee Virginia and West Virginia. Healthfield's trailing 12-month pro forma un-audited revenue to September 30, 2005 was approximately $291M.
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