Despite ongoing pressures from a challenging regulatory landscape, Bayada Home Health Care is seeing progress in securing state-by-state rate increases through its sustained advocacy efforts.
Earlier this month, Bayada laid off 10% of its staff, citing problems with reimbursement. Even so, the company reported significant rate increases across multiple states in 2024 in its most recent annual report, which also detailed its employee development strategy and growth achievements.
In Delaware, the company locked down $2.9 million to raise the personal care reimbursement rate by an estimated 5%. In Pennsylvania, the company saw an 8% rate increase, resulting in a funding increase of over $6 million for Bayada. In New Jersey, the company secured $40 million in personal care assistant increases, leading to an additional $2.9 million in funding for the company.
The company also saw progress in several other states, including Massachusetts, Missouri, Vermont and South Carolina.
Bayada provides home health, home care, hospice and behavioral health care services in 22 states. It also has international locations, operating in Germany, India, Ireland, New Zealand and South Korea. Overall, Bayada has about 33,000 employees nationwide. The company cares for an average of 46,000 clients on a weekly basis.
The company’s net revenue for 2023 was $1.852 billion, according to the report. Its total assets were $710 million and its net assets were $392 million.
“To achieve our vision of creating a lasting legacy as the world’s most compassionate and trusted team of health care professionals, we believe it is our responsibility to strengthen the organization’s financial foundation and to support our growth,” the report read. “With $392 million in net assets and no material borrowings, Bayada is well-positioned to support our mission to help people have a safe home life with comfort, independence, and dignity.”
In 2024, Bayada opened 11 new offices. One of these offices was focused on adult private duty nursing, five on personal care, one on autism therapy services and one on short-term nursing and rehabilitation. Overall, 1,017 new clients were served by these new locations in 2024.
On the M&A front, Bayada acquired two Redeemer Health home health and hospice businesses
in New Jersey. Bayada noted that this deal allowed the company to expand its home health and hospice footprint across several counties in New Jersey. The company gained 379 new clients through the deal.
Joint ventures and strategic partnerships also play a role in Bayada’s growth strategy. The company has joined forces with 11 health systems and has served almost 200,000 patients since 2016.
Employee development and referrals
Bayada has invested heavily in a number of education and professional development initiatives.
“By investing in education at every level, we not only strengthen our workforce but also enhance the care and outcomes for the clients and families we serve,” the company wrote in the report.
One of these education and professional development initiatives is Bayada University, an online learning management system that offers education and training courses to all of the company’s office-based employees, caregivers and clinicians. The initiative was first launched in 2010.
In 2024, Bayada’s staff completed 36,375,975 hours of Bayada University training courses. This was a 29% increase from 2023, where staff members completed over 28 million hours of training courses.
Aside from Bayada University, the company has also formed partnerships with six universities. Through partnerships with Drexel University, University of Phoenix, Capella University, Wilmington University, Strayer University and Neumann University, Bayada offers its staff discounted rates for workshops, certifications, degree programs and more.
Plus, Bayada has implemented leadership development workshops that are available to all employees. Last year, 1,300 employees took part in an enterprise-wide or team-based workshop, according to the report.
Apprenticeships are also part of Bayada’s educational and professional development efforts. The company’s nurse residency program hires new graduates from nursing schools and gives them a work-based learning experience.
“The goal is to build on what they learned in nursing school to be well-equipped to care
for clients in the home,” the report read. “In this unique, year-long program, nurses receive extra hands-on and online learning to focus on critical skill development. Bayada clinical leaders provide coaching, training, and support to these nurses throughout the year. What’s more, the program boasts a 98% graduation rate.”
The company also highlighted the success of its employee referral program. As part of Bayada’s Talent Scout Employee Referral Program, staff members who recommend a candidate who is eventually hired receive bonuses ranging from $500 to $2,000.
Last year, 6,439 candidates were referred through the program, and 3,140 of the referrals were hired – a 49% conversion rate.
Bayada isn’t alone in its efforts to hire new employees through referral programs. Companies like Tribute Home Care, Caretech and ProHealth Home Health & Hospice have been able to beef up recruitment efforts by relying on word-of-mouth recommendations.
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