Chemed
29 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
Medicare
earns from · Over 90% of VITAS’ revenuenamed as a riskOver 90% of VITAS’ revenue is from the United States government through the Medicare program.Business (Item 1)
Also named by ABT, ARWR, AXGN, BAX, BDX, BMY, BSX, CAH and 48 more
Nursing homes
earns from · 15% to 20% of VITAS’ days of carenamed as a risk15% to 20% of VITAS’ days of care are provided to patients who reside in nursing homes.Risk factors (Item 1A)
Other companies
DuBois Chemicals Inc.
$1.7 millionnamed as a riskAt December 31, 2025, the Company’s accrual for its estimated liability for potential environmental cleanup and related costs arising from the 1991 sale of DuBois Chemicals Inc. (“DuBois”) amounted to $1.7 million.Business (Item 1)
Covenant Health and Community Services, Inc.
$85.0 millionVITAS completed the purchase of all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc d/b/a/ Covenant Care (“Covenant”) for an aggregated purchase price of $85.0 million in cash.Business (Item 1)
Places
Florida
concentrated in · a substantial percentage of our revenuenamed as a riskIn addition, two of our largest programs and an office complex are in south Florida and a substantial percentage of our revenue is derived from our operations across Florida.Risk factors (Item 1A)
Also named by ABR, ALLY, AN, AXP, AZO, BBY, BJ, BRO and 54 more
Hazards
October 2025 VITAS cyberattack via third-party vendor
$500,000 deductiblenamed as a riskCyber insurance has covered all costs incurred by VITAS above its $500,000 deductible.Cybersecurity (Item 1C)
Florida hurricanes
concentrated innamed as a riskThe location of our headquarters and the size of our operations across Florida increases our exposure to hurricanes.Risk factors (Item 1A)
Weather patterns
exposed to its pricenamed as a riskSignificant changes in precipitation or temperatures in areas we have company-owned and Independent Contractor operations will generally affect the revenue and operating results at Roto-Rooter.Business (Item 1)
Commodities and inputs
Steel
exposed to its pricenamed as a riskHowever, significant tariffs on certain products, such as steel for Roto-Rooter’s cabling machines and pharmaceuticals utilized by VITAS, could materially increase the costs of Roto-Rooter and VITAS.Risk factors (Item 1A)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Pharmaceuticals
exposed to its pricenamed as a riskIncreases in operating costs, such as labor, pharmaceutical and supply costs that are subject to inflation and other increases related to tariffs or other tax increases, without a compensating increase in Medicare and Medicaid rates, could have a material adverse effect on VITAS’ business in the future.Business (Item 1)
Also named by MOH
Licensed nurses
depends onnamed as a riskIncreases in the wages and benefits required to attract and retain qualified nurses or an increase in reliance on contract nurses could negatively impact profitability.Risk factors (Item 1A)
Regulators
Centers for Medicare and Medicaid Services (CMS)
subject to · 2.6%On July 31, 2025, the Centers for Medicare and Medicaid Services released the 2026 inflationary increase effective October 1, 2025, which was 2.6%.Business (Item 1)
Also named by ABBV, CDNA, DGX, DOC, ENSG, GD, GEHC, GHC and 6 more
Federal Trade Commission (FTC)
subject tonamed as a riskOur franchising activities are subject to various federal and state franchising laws and regulations, including the rules and regulations of the FTC regarding the offering or sale of franchises.Risk factors (Item 1A)
Also named by AMZN, AN, AVGO, BJ, CART, CELH, CHD, CI and 56 more
Laws and programs
Medicaid
earns from · approximately 3% of VITAS’ revenuesnamed as a riskReimbursement from state Medicaid programs in 2025 accounted for approximately 3% of VITAS’ revenues.Business (Item 1)
Also named by ABBV, ABT, ARE, ARWR, BAX, BMY, BSX, CNC and 39 more
Medicare and Medicaid
earns from · In excess of 95% of VITAS’ net patient service revenuenamed as a riskIn excess of 95% of VITAS’ net patient service revenue consists of payments from the Medicare and Medicaid programs.Risk factors (Item 1A)
Medicare hospice cap
subject to · $35,361.44named as a riskVITAS’ hospices may be subject to future payment reductions or recoupments as the result of this cap.Business (Item 1)
Medicare sequestration 2% reimbursement cut
subject to · 2%named as a riskEffective April 1, 2013, the Federal government implemented a 2% reimbursement cut for all Medicare programs, including hospice.Business (Item 1)
False Claims Act
subject tonamed as a riskBecause of the complexity of the government regulations applicable to the healthcare industry, the Company cannot assure that VITAS will not be the subject of other actions under the False Claims Act.Business (Item 1)
Also named by ACN, ASTS, CDW, CI, CVS, DGX, FLR, GE and 13 more
Medicare Advantage
earns fromnamed as a riskWe cannot assure, however, that payment for hospice services will continue to be excluded from HMO payment under Medicare risk contracts and similar Medicare managed care plans or that if not excluded, managed care organizations or other large third-party payors would not use their power to influence and exert pressure on health care providers to reduce costs in a manner that could have a material adverse effect on VITAS’ business, financial condition and results of operations.Risk factors (Item 1A)
Also named by BWIN, CDNA, CNC, CVS, DGX, DOC, DVA, ELV and 3 more
Stark Law
subject tonamed as a riskThe Company cannot assure that future regulatory changes will not result in hospice services becoming subject to the Stark Law’s ownership, investment or compensation prohibitions in the future.Business (Item 1)
Certificate of Need laws
subject tonamed as a riskSome states, including Florida and California, have Certificate of Need laws, restrictions on new licenses, or other similar health planning laws that apply to hospice care providers.Business (Item 1)
CMS Targeted Probe and Educate (TPE) program
subject tonamed as a riskAdditionally, regulators are increasing scrutiny of claims, including through the TPE program, which may require additional resources to respond to audits, and which may cause additional delays or denials in receiving payments.Risk factors (Item 1A)
CMS Special Focus Program
subject tonamed as a riskHowever, if CMS revises the program or implements a similar program and its implementation identifies any VITAS programs as “poor performers”, such designation could negatively affect VITAS’ brand reputation, and any additional governmental oversight could materially adversely affect the operations profitability of any affected programs.Risk factors (Item 1A)
Medicare Conditions of Participation
subject tonamed as a riskFailure to comply with the conditions of participation may result in sanctions, up to and including decertification from the Medicare program.Business (Item 1)
Anti-Kickback Law
subject tonamed as a riskHowever, the Company cannot assure that such laws will ultimately be interpreted in a manner consistent with VITAS’ practices.Business (Item 1)
HIPAA and HITECH
subject tonamed as a riskCompliance with current and future HIPAA and HITECH requirements or any other federal or state privacy initiatives could require VITAS to make substantial investments, which could negatively impact its profitability and cash flows.Risk factors (Item 1A)
Technology
Roto-Rooter trademark
depends onnamed as a riskAdverse publicity, litigation or on-line negative reviews focused on the Roto-Rooter brand could negatively impact Roto-Rooter’s national reputation resulting in decreased future demand for Roto-Rooter branded services.Risk factors (Item 1A)