Recently, The Colorado Springs Gazette shared a story entitled “Hospices have become big business for private equity firms, raising concerns” recently published by Kaiser Health News.
The article stated many are worried the original hospice vision may be fading as private equity companies acquire hospice organizations. There are examples of these ownership types in the Colorado Springs community.
The information shared is important as there has never been a more important time for the kind of person-centered, serious illness, and end-of-life care that we will all need going forward.
Hospice providers should be unified by the mission to provide high quality of end-of-life care to patients and families. Whether a hospice is for-profit or non-profit – when choosing a provider, it’s important to learn how services are delivered, the structure of the patient care team, and the special programs available to you or your loved one.
Non-profit hospices invest dollars in clinical education for staff to enhance care, offer additional therapeutic treatments, and accept patients regardless of their diagnosis, location of care, their insurance or ability to pay. Our mission is important to all those facing end of life and to the communities we have been privileged to serve over the last 43 years. We think it is important for you to know whether the hospice providing care for your loved one is part of a corporation with the primary goal of generating profit or, a community-based hospice committed to the highest quality of care. You have a right to be informed and a right to choose. Choose carefully and choose quality.
As the article states, for profit hospices hire fewer staff and spend less on patient care in order to maximize their profits. Studies that have found for profit hospices have higher rates of complaints and deficiencies, have more emergency room visits and hospitalizations, and see doctors or nurse practitioners two-thirds less often than a non-profit hospice.
Pikes Peak Hospice and Palliative Care, the first hospice in El Paso County, is the only community-based, non-profit provider in our community. For more than 40 years we have been the largest and most trusted provider in the region – assessing and meeting our community’s needs with a broad range of services. We could not do this without the help of our community. Thank you for your ongoing support.