v3.26.1
Note 12 - Significant Payors
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

12. Significant Payors

 

The Company’s revenue by payor type was as follows:

 

Personal Care Segment

 

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 
      

% of Segment

      

% of Segment

      

% of Segment

      

% of Segment

 
  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

 
  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

 

State, local and other governmental programs

 $148,822   50.3% $138,506   51.4% $288,457   50.0% $271,410   51.4%

Managed care organizations

  139,285   47.1   121,900   45.3   272,959   47.3   238,907   45.3 

Private pay

  6,494   2.2   7,292   2.7   12,721   2.2   14,268   2.7 

Commercial insurance

  1,189   0.4   1,334   0.5   2,295   0.4   2,494   0.5 

Other

  205   —   151   0.1   657   0.1   390   0.1 

Total personal care segment net service revenues

 $295,995   100.0% $269,183   100.0% $577,089   100.0% $527,469   100.0%

 

Hospice Segment

 

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 
      

% of Segment

      

% of Segment

      

% of Segment

      

% of Segment

 
  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

 
  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

 

Medicare

 $60,020   93.4% $57,846   93.0% $122,111   93.9% $114,638   92.7%

Commercial insurance

  1,910   3.0   1,997   3.2   3,722   2.9   4,375   3.5 

Managed care organizations

  1,920   3.0   2,001   3.2   3,420   2.6   4,029   3.3 

Other

  397   0.6   368   0.6   779   0.6   607   0.5 

Total hospice segment net service revenues

 $64,247   100.0% $62,212   100.0% $130,032   100.0% $123,649   100.0%

 

Home Health Segment

 

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 
      

% of Segment

      

% of Segment

      

% of Segment

      

% of Segment

 
  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

 
  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

 

Medicare

 $10,903   63.5% $12,517   69.4% $21,128   62.3% $25,094   69.7%

Managed care organizations

  4,414   25.7   4,264   23.6   8,381   24.7   8,072   22.4 

State, local and other governmental programs (excluding Medicare)

  1,318   7.7   796   4.4   3,369   9.9   1,884   5.2 

Other

  540   3.1   471   2.6   1,029   3.1   983   2.7 

Total home health segment net service revenues

 $17,175   100.0% $18,048   100.0% $33,907   100.0% $36,033   100.0%

 

The Company derives a significant amount of its revenue from its operations in Illinois, New Mexico, Ohio, Tennessee, and Texas. The percentages of segment revenue for each of these significant states for the three and six months ended June 30, 2026 and 2025, respectively, were as follows:

 

Personal Care Segment

 

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 
      

% of Segment

      

% of Segment

      

% of Segment

      

% of Segment

 
  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

 
  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

 

Illinois

 $121,089   40.9% $115,226   42.8% $237,839   41.2% $226,640   43.0%

Texas

  59,139   20.0   52,464   19.5   116,529   20.2   102,324   19.4 

New Mexico

  31,962   10.8   28,987   10.8   62,452   10.8   57,292   10.9 

All other states

  83,805   28.3   72,506   26.9   160,269   27.8   141,213   26.7 

Total personal care segment net service revenues

 $295,995   100.0% $269,183   100.0% $577,089   100.0% $527,469   100.0%

 

Hospice Segment

 

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 
      

% of Segment

      

% of Segment

      

% of Segment

      

% of Segment

 
  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

 
  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

 

Ohio

 $24,207   37.7% $23,204   37.3% $50,674   39.0% $46,391   37.5%

Illinois

  13,708   21.3   14,419   23.2   28,047   21.6   28,983   23.4 

New Mexico

  8,475   13.2   8,184   13.2   16,346   12.6   16,097   13.0 

All other states

  17,857   27.8   16,405   26.3   34,965   26.8   32,178   26.1 

Total hospice segment net service revenues

 $64,247   100.0% $62,212   100.0% $130,032   100.0% $123,649   100.0%

 

Home Health Segment

 

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 
      

% of Segment

      

% of Segment

      

% of Segment

      

% of Segment

 
  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

  

Amount

  

Net Service

 
  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

  

(in Thousands)

  

Revenues

 

New Mexico

 $9,166   53.4% $8,737   48.4% $17,705   52.2% $17,292   48.0%

Tennessee

  6,533   38.0   7,322   40.6   13,417   39.6   14,820   41.1 

Illinois

  1,476   8.6   1,989   11.0   2,785   8.2   3,921   10.9 

Total home health segment net service revenues

 $17,175   100.0% $18,048   100.0% $33,907   100.0% $36,033   100.0%

 

A substantial portion of the Company’s revenue and accounts receivable are derived from services performed for federal, state, and local governmental agencies. The personal care segment derives a significant amount of its net service revenues in Illinois, which represented 32.1% and 33.0% of our net service revenues for both the three and six months ended  June 30, 2026 and 2025, respectively. The Illinois Department on Aging, the largest payor program for the Company’s Illinois personal care operations, accounted for 17.7% and 18.6% of the Company’s net service revenues for the three months ended  June 30, 2026 and 2025, respectively, and accounted for 17.8% and 18.6% of the Company’s net service revenues for the six months ended June 30, 2026 and 2025, respectively.

 

The related receivables due from the Illinois Department on Aging represented 13.2% and 25.2% of the Company’s net accounts receivable at  June 30, 2026 and December 31, 2025, respectively.