Risk Sleuth
CHE · 10-K filed 27 Feb 2026 · year to 31 Dec 2025

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 risk
Over 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 risk
15% 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 risk
At 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 million
VITAS 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 risk
In 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

New York

subject tonamed as a risk
These types of restrictions could affect VITAS’ ability to expand into New York, or in other jurisdictions with similar restrictions.Business (Item 1)

Also named by ABR, AXP, BJ, BPOP, BRO, BWA, CINF, CNC and 12 more

Hazards

October 2025 VITAS cyberattack via third-party vendor

$500,000 deductiblenamed as a risk
Cyber insurance has covered all costs incurred by VITAS above its $500,000 deductible.Cybersecurity (Item 1C)

Florida hurricanes

concentrated innamed as a risk
The location of our headquarters and the size of our operations across Florida increases our exposure to hurricanes.Risk factors (Item 1A)

Also named by BWIN, CASY

Weather patterns

exposed to its pricenamed as a risk
Significant 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 risk
However, 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 risk
Increases 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 risk
Increases 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 risk
Our 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 risk
Reimbursement 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 risk
In 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 risk
VITAS’ 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 risk
Effective 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 risk
Because 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 risk
We 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 risk
The 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)

Also named by DVA, GMED, HCA, LH, RMD

Certificate of Need laws

subject tonamed as a risk
Some 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)

Also named by SNDA, WELL

CMS Targeted Probe and Educate (TPE) program

subject tonamed as a risk
Additionally, 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 risk
However, 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 risk
Failure 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 risk
However, 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 risk
Compliance 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)

California SB 253 and SB 261

subject to
The Company is monitoring the adoption and implementation of these laws and regulations, and has readied itself to be able to ensure compliance when applicable.Business (Item 1)

Also named by ARE, CVLG, EWBC, HTLD, M, WDFC, WTS

Technology

Roto-Rooter trademark

depends onnamed as a risk
Adverse 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)