COVID vaccine in hands of caregiver

Addus HomeCare executives admitted Tuesday the COVID-19 delta variant is challenging the home care industry as it tries to emerge from the 17-month global pandemic.

During an earnings call with analysts, the company said roughly 60% of its home health and hospice workers have received the COVID-19 vaccine, but only about 35% of its personal care workers have gotten vaccinated.

“We are continuing our efforts to educate our caregivers on the benefits of being vaccinated, but it’s an ongoing process and certainly it’s way more challenging with the personal care workforce that is largely part-time workers,” said Addus HomeCare COO Brad Bickham.

On Monday, Addus announced second quarter earnings that exceeded Wall Street expectations. The company made $271 million in revenues during the quarter that ended June 30, an 18% increase over the same period last year. Per share earnings increased 23% to $0.90 from $0.73.

The company experienced strong revenue growth in its personal care and home health businesses. But revenue growth in hospice decreased roughly 8% compared to last year, mostly attributed to shorter median stays due to the pandemic.

The company said efforts to recruit workers are improving as enhanced unemployment benefits from the public health emergency are being phased out in many states and should be phased out in all states by September.

“I think you are seeing people trying to get ahead of that and start applying for jobs. So, we are encouraged by the candidate application flow. I think it bodes well for consistent hiring,” Bickham said.