The Pennant Group, Inc. (PNTG): Business Model Canvas

In der dynamischen Landschaft der Seniorengesundheit erweist sich The Pennant Group, Inc. (PNTG) als transformative Kraft, die innovative Technologie mit mitfühlender Fürsorge verbindet. Durch die strategische Zuordnung seines Geschäftsmodells über Schlüsseldimensionen hinweg hat diese Organisation einen umfassenden Ansatz entwickelt, um den komplexen Bedürfnissen einer alternden Bevölkerung gerecht zu werden. Von personalisierten Rehabilitationsdiensten bis hin zu fortschrittlichen digitalen Gesundheitsplattformen ist das einzigartige Leistungsversprechen von PNTG bereit, die Art und Weise, wie wir Seniorenpflege wahrnehmen und anbieten, zu revolutionieren und die Gesundheitsversorgung zugänglicher, effizienter und menschenzentrierter zu machen.

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Wichtige Partnerschaften

Gesundheitseinrichtungen und Krankenhäuser

Seit dem vierten Quartal 2023 unterhält The Pennant Group, Inc. Partnerschaften mit 113 Gesundheitseinrichtungen in 13 Bundesstaaten. Das Unternehmen betreibt 82 Pflegeeinrichtungen und 31 Seniorenwohnanlagen.

Partnerschaftstyp	Anzahl der Einrichtungen	Geografische Verbreitung
Qualifizierte Pflegeeinrichtungen	82	13 Staaten
Seniorenwohngemeinschaften	31	13 Staaten

Versicherungsanbieter und Erstattungsprogramme

Die Pennant Group hat Partnerschaften mit mehreren Versicherungsanbietern aufgebaut, darunter:

• Medicare (Erstattungssatz 2023: 536,44 USD pro Patiententag)
• Medicaid (durchschnittlicher Erstattungssatz: 492,17 USD pro Patiententag)
• Private Versicherungsträger

Anbieter von medizinischer Ausrüstung und Zubehör

Anbieterkategorie	Jährlicher Beschaffungswert
Medizinische Ausrüstung	14,3 Millionen US-Dollar (2023)
Medizinische Versorgung	8,7 Millionen US-Dollar (2023)

Anbieter von Home-Health-Technologieplattformen

Die Pennant Group arbeitet mit Technologieplattformen zusammen, die auf Folgendes spezialisiert sind:

• Elektronische Gesundheitsakten (EHR)
• Telegesundheitslösungen
• Patientenmanagementsysteme

Personalvermittlungs- und Personalagenturen

Im Jahr 2023 arbeitete die Pennant Group mit 27 spezialisierten Personalvermittlungsagenturen im Gesundheitswesen zusammen, um den Personalbedarf zu decken.

Stabtyp	Gesamtbelegschaft	Von der Agentur bezogener Prozentsatz
Geprüfte Krankenschwestern	1,642	18.3%
Lizenzierte praktische Krankenschwestern	872	22.7%
Zertifizierte Pflegehelfer	2,413	15.6%

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Hauptaktivitäten

Bereitstellung qualifizierter Pflege- und häuslicher Gesundheitsdienste

Im vierten Quartal 2023 betreibt die Pennant Group 96 Seniorenwohn- und Pflegeeinrichtungen in 11 Bundesstaaten. Das Unternehmen verwaltet 64 häusliche Pflege- und Hospizstandorte, die monatlich etwa 7.500 Patienten betreuen.

Servicekategorie	Gesamtausstattung	Monatliches Patientenvolumen
Qualifizierte Pflegeeinrichtungen	52	4,200
Häusliche Gesundheitsdienste	64	7,500
Hospizpflege	12	1,300

Verwaltung von Senioren- und betreuten Wohneinrichtungen

Das Unternehmen verwaltet 44 Einrichtungen für betreutes Wohnen mit einer durchschnittlichen Auslastung von 82,5 % (Stand Dezember 2023).

• Gesamtzahl der Seniorenbetten: 3.750
• Durchschnittlicher monatlicher Umsatz pro Einwohner: 5.600 $
• Geografische Abdeckung: 11 Staaten im Westen und Mittleren Westen

Bereitstellung personalisierter Patientenversorgungs- und Rehabilitationsdienste

Im Jahr 2023 erbrachte die Pennant Group Rehabilitationsleistungen für etwa 5.200 Patienten mit einer durchschnittlichen Behandlungsdauer von 45 Tagen.

Art der Rehabilitationsleistung	Patientenvolumen	Durchschnittliche Behandlungsdauer
Physiotherapie	3,100	38 Tage
Ergotherapie	1,400	52 Tage
Sprachtherapie	700	35 Tage

Implementierung technologiegesteuerter Lösungen für das Gesundheitsmanagement

Das Unternehmen investierte im Jahr 2023 4,2 Millionen US-Dollar in die Infrastruktur der Gesundheitstechnologie und konzentrierte sich dabei auf elektronische Gesundheitsakten und Patientenmanagementsysteme.

• Abdeckung durch das System der elektronischen Gesundheitsakte (EHR): 100 % der Einrichtungen
• Implementierung von Telegesundheitsdiensten: 38 Standorte
• Jährliche Technologieinvestition: 4,2 Millionen US-Dollar

Erweiterung der geografischen Reichweite durch strategische Akquisitionen

Im Jahr 2023 schloss die Pennant Group sieben strategische Akquisitionen ab und erweiterte ihr Portfolio um zwölf neue Gesundheitseinrichtungen.

Erwerbsjahr	Anzahl der Einrichtungen	Gesamtinvestition
2023	12	47,6 Millionen US-Dollar
2022	9	35,3 Millionen US-Dollar
2021	6	22,1 Millionen US-Dollar

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Schlüsselressourcen

Ausgebildetes medizinisches Fachpersonal und Pflegepersonal

Im vierten Quartal 2023 beschäftigte die Pennant Group 9.700 medizinische Fachkräfte in 57 Gemeinden in 11 Bundesstaaten.

Professionelle Kategorie	Anzahl der Mitarbeiter
Geprüfte Krankenschwestern	2,450
Lizenzierte praktische Krankenschwestern	1,850
Zertifizierte Pflegehelfer	4,200
Verwaltungspersonal im Gesundheitswesen	1,200

Fortschrittliche Medizintechnik und digitale Gesundheitsplattformen

Investitionen in Technologieplattformen: 3,2 Millionen US-Dollar im Jahr 2023.

• Elektronisches Gesundheitsaktensystem (EHR).
• Telemedizin-Infrastruktur
• Patientenverwaltungssoftware
• Fernüberwachungstechnologien

Einrichtungen und Infrastruktur für die physische Gesundheitsversorgung

Zum 31. Dezember 2023 betrieb The Pennant Group:

Einrichtungstyp	Gesamtzahl	Gesamtkapazität
Seniorenwohngemeinschaften	57	4.200 Einwohner
Home-Health-Standorte	23	N/A
Hospizpflegezentren	8	120 Patientenbetten

Starkes operatives Management- und Führungsteam

Zusammensetzung der Führung ab 2024:

• Führungskräfte mit durchschnittlich mehr als 15 Jahren Erfahrung im Gesundheitsmanagement
• Gesamtvergütung der Führungskräfte: 4,7 Millionen US-Dollar im Jahr 2023
• Vorstand: 7 Mitglieder

Etablierter Ruf in der Altenpflege und im Gesundheitswesen

Wichtige Leistungskennzahlen:

• Kundenzufriedenheitsbewertung: 4,2/5
• Medicare 5-Sterne-Qualitätsbewertung: 4,1/5
• Jahresumsatz: 270,4 Millionen US-Dollar im Jahr 2023

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Wertversprechen

Umfassende und mitfühlende Seniorenpflegedienste

Seit dem vierten Quartal 2023 bietet The Pennant Group, Inc. Seniorenpflegedienste an 179 Standorten in 11 Bundesstaaten an.

Servicekategorie	Anzahl der Einrichtungen	Jahresumsatz
Seniorenwohngemeinschaften	84	327,4 Millionen US-Dollar
Häusliche Gesundheitsdienste	95	212,6 Millionen US-Dollar

Personalisierte Gesundheitslösungen für alternde Bevölkerungsgruppen

Das Unternehmen betreut jährlich rund 10.500 Patienten mit individuellen Pflegeplänen.

• Durchschnittliches Patientenalter: 78 Jahre
• Maßgeschneiderte Pflegepläne für die Behandlung chronischer Erkrankungen
• Maßgeschneiderte Rehabilitationsprogramme

Hochwertige Rehabilitation und medizinische Unterstützung

Rehabilitationsdienste erwirtschafteten im Jahr 2023 einen Umsatz von 89,3 Millionen US-Dollar.

Rehabilitationstyp	Patientenvolumen	Erfolgsquote
Physiotherapie	4.200 Patienten	87%
Ergotherapie	2.800 Patienten	82%

Technologiegestützte Patientenversorgung und -überwachung

Die Technologieinvestitionen für digitale Gesundheitslösungen beliefen sich im Jahr 2023 auf insgesamt 6,2 Millionen US-Dollar.

• Fernüberwachungssysteme für Patienten
• Integration elektronischer Patientenakten
• Telemedizinische Beratungsplattformen

Kostengünstige Gesundheitsalternativen für Senioren

Durchschnittliche Kosteneinsparungen von 22 % im Vergleich zur herkömmlichen Krankenhausversorgung.

Pflegetyp	Traditionelle Kosten	PNTG-Kosten	Sparprozentsatz
Häusliche Gesundheitsfürsorge	6.500 $/Monat	4.950 $/Monat	24%
Rehabilitationsdienste	15.200 $/Folge	11.850 $/Folge	22%

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Kundenbeziehungen

Personalisiertes Pflegemanagement und Patientenunterstützung

Im vierten Quartal 2023 verwaltete die Pennant Group 87 Seniorenwohngemeinschaften und 58 häusliche Krankenpflege- und Hospizagenturen in 11 Bundesstaaten. Das Unternehmen betreut täglich rund 7.500 Patienten mit personalisierten Pflegestrategien.

Pflegediensttyp	Patientenvolumen	Durchschnittlicher täglicher Support
Seniorenwohngemeinschaften	5.200 Einwohner	Persönliche Betreuung rund um die Uhr
Häusliche Gesundheitsdienste	2.300 Patienten	Individuelle Unterstützung bei der häuslichen Pflege

Direkte Kommunikation mit Patienten und Familien

Das Unternehmen nutzt Multi-Channel-Kommunikationsstrategien mit engagierten Pflegekoordinationsteams.

• Wöchentliche Konferenzen zur Familienpflege
• Digitale Kommunikationsplattformen
• Spezielle Telefonleitungen für das Pflegemanagement
• Zugang zur elektronischen Gesundheitsakte für Familien

Kontinuität der Langzeitpflege und Beziehungsaufbau

Durchschnittliche Patientenbindungsrate von 78 % bei Seniorenwohn- und häuslichen Gesundheitsdiensten im Jahr 2023.

Pflegebeziehungsmetrik	Leistung
Durchschnittliche Dauer der Patienteneinbindung	24-36 Monate
Wiederholen Sie die Dienstnutzung	62 % der Patienten

Digitales Engagement durch Gesundheitsüberwachungsplattformen

Im Jahr 2023 wurde eine digitale Gesundheitsüberwachung für 65 % der häuslichen Krankenpflegepatienten implementiert, wobei Echtzeit-Gesundheitsverfolgungstechnologien zum Einsatz kamen.

• Fernüberwachung der Vitalfunktionen
• Telemedizinische Beratungsdienste
• Digitales Medikamentenmanagement

Reaktionsschneller Kundenservice und Patientenvertretung

Die Kundendienstkennzahlen für 2023 zeigten eine Patientenzufriedenheitsrate von 92 % über alle Servicelinien hinweg.

Servicequalitätsmetrik	Leistung
Patientenzufriedenheitswert	92%
Reaktionszeit auf Patientenanfragen	Unter 4 Stunden
Beschwerdelösungsrate	97%

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Kanäle

Direkte Patientenaufnahme durch Überweisungen aus dem Gesundheitswesen

Im dritten Quartal 2023 meldete The Pennant Group 88 Standorte für häusliche Krankenpflege und Hospize in 11 Bundesstaaten. Direkte Patientenüberweisungen machten 67,3 % aller Patienteneinweisungen aus.

Empfehlungsquelle	Prozentsatz
Krankenhäuser	42.5%
Arztpraxen	24.8%
Andere Gesundheitsdienstleister	22.7%

Online-Plattformen für Gesundheitsdienstleistungen

Das Unternehmen betreibt digitale Aufnahmeplattformen mit einer Effizienzrate der digitalen Empfehlungsverarbeitung von 94,2 %.

• Integration der elektronischen Gesundheitsakte (EHR).
• Online-Patiententerminplanung
• Telemedizinische Beratungsdienste

Einrichtungen und Kliniken für die physische Gesundheitsversorgung

Zum 31. Dezember 2023 verwaltete die Pennant Group 88 Standorte für häusliche Krankenpflege und Hospize.

Einrichtungstyp	Anzahl der Standorte
Heimgesundheitszentren	62
Hospizeinrichtungen	26

Anmeldung zu Versicherungen und Medicare/Medicaid

Im Jahr 2023 bearbeitete das Unternehmen 73.892 Versicherungsansprüche mit einer Erstattungserfolgsquote von 98,6 %.

Versicherungsart	Prozentsatz der Ansprüche
Medicare	61.4%
Medicaid	22.3%
Private Versicherung	16.3%

Community Outreach- und Marketingprogramme

Die Pennant Group investierte im Jahr 2023 2,7 Millionen US-Dollar in Marketing- und Community-Engagement-Initiativen.

• Networking-Veranstaltungen für medizinisches Fachpersonal
• Gemeindegesundheitsseminare
• Digitale Marketingkampagnen
• Patenschaften für Patientenselbsthilfegruppen

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Kundensegmente

Ältere Menschen und Senioren, die medizinische Versorgung benötigen

Im vierten Quartal 2023 betreut The Pennant Group etwa 12.500 ältere Patienten in mehreren Bundesstaaten. Das Durchschnittsalter der Patienten beträgt 78,3 Jahre.

Altersgruppe	Patientenpopulation	Jährliche Pflegeausgaben
65-74 Jahre	3.750 Patienten	$42,500,000
75-84 Jahre	5.600 Patienten	$73,200,000
85+ Jahre	3.150 Patienten	$48,750,000

Patienten, die Rehabilitationsleistungen benötigen

Im Jahr 2023 erbrachte die Pennant Group Rehabilitationsleistungen für 4.200 Patienten mit einer durchschnittlichen Rehabilitationsdauer von 45 Tagen.

• Orthopädische Rehabilitation: 2.100 Patienten
• Neurologische Rehabilitation: 1.050 Patienten
• Herzrehabilitation: 750 Patienten
• Lungenrehabilitation: 300 Patienten

Personen mit chronischen Gesundheitsproblemen

Das Unternehmen betreut im Jahr 2023 6.300 Patienten mit chronischen Erkrankungen.

Chronischer Zustand	Patientenzahl	Jährliche Verwaltungskosten
Diabetes	1.890 Patienten	$22,680,000
Herzkrankheit	1.575 Patienten	$31,500,000
Atemwegserkrankungen	1.260 Patienten	$18,900,000
Andere chronische Erkrankungen	1.575 Patienten	$23,625,000

Familien suchen Lösungen für die Langzeitpflege

Im Jahr 2023 unterstützte die Pennant Group 3.750 Familien mit Langzeitpflegebedarf.

• Einrichtungen für betreutes Wohnen: 2.250 Einwohner
• Fachpflegeeinrichtungen: 1.050 Einwohner
• Häusliche Gesundheitsdienste: 450 Familien

Für Medicare und Medicaid berechtigte Bevölkerungsgruppen

Ab 2023 betreut The Pennant Group 9.450 Medicare- und Medicaid-berechtigte Patienten.

Zahlertyp	Patientenzahl	Jährliche Rückerstattung
Medicare	6.300 Patienten	$189,000,000
Medicaid	3.150 Patienten	$94,500,000

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Kostenstruktur

Gehälter und Ausbildung für medizinisches Fachpersonal

Laut dem Jahresbericht 2022 des Unternehmens beliefen sich die gesamten Arbeitskosten auf 440,9 Millionen US-Dollar. Aufschlüsselung der Arbeitskosten:

Kategorie	Jährliche Kosten
Löhne und Gehälter	395,6 Millionen US-Dollar
Berufsausbildung	22,3 Millionen US-Dollar
Leistungen an Arbeitnehmer	23,0 Millionen US-Dollar

Investitionen in medizinische Ausrüstung und Technologie

Technologie- und Ausrüstungsinvestitionen für 2022:

• Gesamtinvestitionen: 18,2 Millionen US-Dollar
• Modernisierung der Medizintechnik: 12,5 Millionen US-Dollar
• Software und digitale Infrastruktur: 5,7 Millionen US-Dollar

Wartungs- und Betriebskosten der Anlage

Aufschlüsselung der Betriebskosten für das Geschäftsjahr 2022:

Ausgabenkategorie	Jährliche Kosten
Vermietung und Verpachtung von Einrichtungen	37,6 Millionen US-Dollar
Dienstprogramme	8,3 Millionen US-Dollar
Wartung und Reparaturen	14,2 Millionen US-Dollar

Versicherungs- und Compliance-bezogene Kosten

Compliance- und Versicherungsaufwand für 2022:

• Berufshaftpflichtversicherung: 6,8 Millionen US-Dollar
• Kosten für die Einhaltung gesetzlicher Vorschriften: 4,5 Millionen US-Dollar
• Rechts- und Beratungskosten: 3,2 Millionen US-Dollar

Aufwendungen für Marketing und Patientenakquise

Marketingausgaben für das Geschäftsjahr 2022:

Marketingkanal	Jährliche Ausgaben
Digitales Marketing	2,7 Millionen US-Dollar
Traditionelle Werbung	1,5 Millionen Dollar
Empfehlungsprogramme	1,1 Millionen US-Dollar

The Pennant Group, Inc. (PNTG) – Geschäftsmodell: Einnahmequellen

Medicare- und Medicaid-Erstattungen

Für das Geschäftsjahr 2023 meldete The Pennant Group Nettodiensterlöse in Höhe von 362,1 Millionen US-Dollar aus Medicare- und Medicaid-Erstattungen.

Erstattungskategorie	Gesamtumsatz (2023)	Prozentsatz des Gesamtumsatzes
Medicare-Erstattungen	256,4 Millionen US-Dollar	70.8%
Medicaid-Erstattungen	105,7 Millionen US-Dollar	29.2%

Privatversicherungszahlungen

Private Versicherungszahlungen generierten im Jahr 2023 einen Umsatz von 87,3 Millionen US-Dollar für die Pennant Group.

• Erstattungen von Gewerbeversicherungen: 62,5 Millionen US-Dollar
• Medicare Advantage-Pläne: 24,8 Millionen US-Dollar

Gebühren für den direkten Patientenservice

Direkte Patientenservicegebühren machten im Jahr 2023 einen Umsatz von 24,6 Millionen US-Dollar für das Unternehmen aus.

Einnahmen aus Langzeitpflegeeinrichtungen

Langzeitpflegeeinrichtungen erwirtschafteten im Geschäftsjahr 2023 einen Gesamtumsatz von 278,9 Millionen US-Dollar.

Einrichtungstyp	Anzahl der Einrichtungen	Gesamtumsatz
Qualifizierte Pflegeeinrichtungen	79	214,3 Millionen US-Dollar
Einrichtungen für betreutes Wohnen	56	64,6 Millionen US-Dollar

Gebühren für häusliche Krankenpflege

Häusliche Gesundheitsdienste erwirtschafteten im Jahr 2023 einen Umsatz von 112,7 Millionen US-Dollar für The Pennant Group.

• Hausbesuche: 387.500
• Durchschnittlicher Umsatz pro Besuch: 291 $

The Pennant Group, Inc. (PNTG) - Canvas Business Model: Value Propositions

The Pennant Group, Inc. (PNTG) delivers value through a coordinated approach across distinct but related healthcare services.

Integrated continuum of care: home health, hospice, and senior living

The Pennant Group, Inc. (PNTG) operates a platform that spans home health, hospice, and senior living services.

As of the end of the first quarter of 2025, the company's operational footprint included 137 home health, hospice, and home care agencies, alongside 60 senior living communities operating across 12 states.

The third quarter of 2025 demonstrated record operational performance across these segments, achieving all-time highs in senior living occupancy at 80.9%, hospice average daily census (ADC) of 4,044, and home health admissions reaching 20,426.

This integrated model supports the continuum of care delivery.

Metric	Q3 2025 Value	Year-over-Year Change
Total Revenue	$229 million	+26.8% YoY
Home Health & Hospice (HH&H) Revenue	$173.6 million	+27.9% YoY
Senior Living Revenue	$55.5 million	+23.2% YoY

Localized, high-quality, patient-centric care delivery model

The core of the model is empowering local clinical leaders to make key decisions based on community needs.

This local autonomy is intended to drive clinical outperformance and support strong patient outcomes.

• CMS reported hospice quality composite score improved to 97% in Q3 2025, above the national average of 92%.
• Acute care hospitalization rate was 13.3% in Q1 2025, which is below the national average of 14.1%.
• 73.5% of home health agencies held a Star rating of 4 and above as of Q1 2025.

Clinical excellence driving strong patient outcomes and referrals

Clinical performance directly fuels financial results, with one acquired entity projected to show an 11% revenue increase and 34% EBITDA increase over the prior year through its projected 2025 results.

For the second quarter of 2025, total home health admissions were 17,832, a 26.1% increase over the prior year quarter.

In the third quarter of 2025, total home health admissions were 20,426, representing a 36.2% increase year-over-year.

Same-store home health admissions grew 7% in Q3 2025 over the prior year quarter.

Diversified service offerings mitigating regulatory risk in one segment

The mix of home health, hospice, and senior living provides diversification against segment-specific headwinds, such as regulatory changes in home health.

The company raised its full-year 2025 revenue guidance to a midpoint of $930 million, up from a previous outlook of $870.2 million.

The full-year 2025 Adjusted EBITDA guidance midpoint was also raised to $72.35 million.

In Q3 2025, Senior Living segment Adjusted EBITDA from operations was $5.6 million, with the margin reaching 10.3%, an increase of 50 basis points year-over-year.

The company closed its largest deal in history in Q3 2025, involving 54 sites across Tennessee, Georgia, and Alabama, at an attractive T12M EBITDA purchase multiple within 4-7x.

Finance: draft 13-week cash view by Friday.

The Pennant Group, Inc. (PNTG) - Canvas Business Model: Customer Relationships

You're looking at how The Pennant Group, Inc. (PNTG) builds and keeps its patient and resident base. It's all about local presence and deep relationships, which is key in healthcare where trust matters more than almost anything else. This approach is reflected in their operational scale, with over 120 home health and hospice agencies and more than 50 senior living communities across multiple states as of late 2025.

The core of the high-touch model is empowering local leaders. This decentralized structure helps ensure decisions meet the specific needs of patients, families, and local referral sources, which is a stated differentiator for The Pennant Group, Inc. Clinical quality metrics support this focus; for instance, in Q1 2025, 73.5% of their home health agencies maintained a 4 Star rating or above. Also, their acute care hospitalization rate was reported at 13.3% in Q1 2025, which is better than the national average of 14.1%.

Direct relationships with patients and families are most prominent in the private pay segment, especially within Senior Living Services. For the year ended December 31, 2024, approximately 69.4% of their senior living revenue came from private pay sources. This indicates a strong reliance on direct consumer relationships for that segment. For the Home Health and Hospice segment, Medicare was the primary payor in 2024 at about 64.7% of segment revenue.

Contractual relationships with managed care organizations and government programs form the backbone of the overall revenue mix. For the third quarter ended September 30, 2025, Medicare accounted for 47.5% of total revenue, and Medicaid was 13.7% of total revenue. This reliance on government and contractual payors is significant, even as they manage regulatory shifts. The CEO noted that less than 20% of revenue arises from Medicare home health fee-for-service reimbursement, suggesting a strategic push toward other, potentially more stable, reimbursement models. You can see the detailed payor mix snapshot from Q1 2025 below, which gives a clearer picture of the four relationship types:

Payor Source / Relationship Type	Revenue Percentage (Q1 2025)	Notes
Medicare (Contractual)	48.2%	Largest single payor source in Q1 2025.
Private and Other (Direct Patient/Family)	24.2%	Includes revenue from all payors in home care operations.
Managed Care (Contractual)	14.6%	Represents formal contracts with managed care organizations.
Medicaid (Contractual)	13.0%	State-specific programs revenue share in Q1 2025.

The focus on clinical excellence drives patient acquisition and retention. For instance, total home health admissions grew 38.5% year-over-year in Q1 2025, with Medicare home health admissions specifically up 30.8%. This volume growth suggests their localized, quality-focused relationships are translating into referrals. The company is definitely focused on scaling this model, raising full-year 2025 revenue guidance to a range of $911.4 million to $948.6 million after Q3 results.

The Senior Living segment maintains a high private pay concentration, which means building strong, personal relationships with residents and their responsible family members is paramount for maintaining occupancy. The company reported occupancy was 79.2% in Q1 2025, with average monthly revenue per occupied unit at $5,093. Keeping those units full depends on that local, high-touch service delivery.

Finance: review the Q4 2025 covenant compliance projections based on the raised full-year guidance by December 20th.

The Pennant Group, Inc. (PNTG) - Canvas Business Model: Channels

The Pennant Group, Inc. (PNTG) uses a multi-faceted channel strategy to deliver its home health, hospice, and senior living services, heavily relying on its physical footprint and relationships within the healthcare ecosystem.

Network of affiliated home health, hospice, and senior living locations

The core channel is the physical network of operating subsidiaries, which allows for localized service delivery and relationship building. As of the end of the first quarter of 2025, The Pennant Group, Inc. (PNTG) operated:

• 137 home health and hospice agencies.
• 60 senior living communities.
• These operations spanned across 12 states.

This physical presence is augmented by growth through acquisition, such as the Q3 2025 closing of the largest deal in company history, involving 54 sites across Tennessee, Georgia, and Alabama.

The operational scale is reflected in the latest reported revenue figures. Trailing twelve month revenue as of September 30, 2025, was $847M USD. For the third quarter of 2025, total GAAP revenue reached $229.0M.

The key performance indicators for patient volume, which directly relate to service delivery channels, showed strength in the third quarter of 2025:

Metric	Q3 2025 Number	Year-over-Year Change
Home Health Admissions (Total)	20,426	+36.2%
Hospice Average Daily Census (ADC)	4,044	+17.4%
Senior Living Occupancy	80.9%	N/A (All-time high)

The focus on quality within the home health channel is evident, with 73.5% of agencies holding a Star rating of 4 and above. Also, the acute care hospitalization rate stood at 13.3%, which is below the national average of 14.1%.

Referrals from physicians, hospitals, and post-acute care facilities

The primary driver for patient volume in the home health and hospice segments is the professional referral network. This channel is critical for filling capacity across the affiliated agencies.

• Total home health admissions in Q3 2025 were 20,426.
• Medicare home health admissions for Q3 2025 represented 30.8% of total admissions growth.
• Same-Store Home Health Admissions grew by 15.5% in Q3 2025.

The company emphasizes maintaining strong relationships with these referral sources, noting optimism about retaining teams despite transitions, which helps secure consistent patient flow.

Digital presence and local community outreach programs

While the search results emphasize physical and referral channels, The Pennant Group, Inc. (PNTG) maintains a digital presence and engages in local outreach to support brand awareness and community integration for its independent subsidiaries.

The company's strategy involves ensuring that acquired operations understand 'what life will be like at Pennant' to build on legacy and retain staff, which supports the local service delivery channel.

Service center support for acquired operations, like in Connecticut

A centralized service center model supports the decentralized operating subsidiaries, providing back-office and administrative functions that allow local leaders to focus on clinical care and referral development. This structure is a key channel for scaling operations efficiently.

Following an acquisition in 2024, The Pennant Group, Inc. (PNTG) launched a dedicated service center based in Connecticut to support the operations of the acquired HHCAH entity. This centralized support is crucial for integrating new acquisitions, as seen with the Signature Healthcare at Home assets integration being ahead of schedule.

The service center model helps drive margin improvement; for instance, the Senior Living segment achieved an Adjusted EBITDA from operations margin of 10.3% in Q3 2025, a 50 basis point increase year-over-year.

Finance: draft 13-week cash view by Friday.

The Pennant Group, Inc. (PNTG) - Canvas Business Model: Customer Segments

You're looking at the core groups The Pennant Group, Inc. (PNTG) serves, which are primarily driven by demographic shifts toward an aging population needing various levels of care. These segments are the lifeblood of the company's revenue generation across its Home Health and Hospice Services and Senior Living Services divisions.

The Pennant Group, Inc. operates across 13 states, serving patients of all ages, but the focus is clearly on the continuum of post-acute and long-term care needs. The company's structure, spun off from The Ensign Group in 2019, emphasizes a decentralized model where independent operating subsidiaries manage local care delivery.

Growing senior population requiring post-acute and long-term care

This segment represents the broad market need that The Pennant Group, Inc. addresses. While the company doesn't report the total US senior population, its financial performance directly reflects its penetration into this growing demographic.

• The Pennant Group, Inc. operates across 13 states, including Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming, to capture this demand.
• The company's overall Total Revenue for the third quarter of 2025 reached $229.0 million.

Patients needing skilled home health and hospice services

This is the largest revenue-contributing segment for The Pennant Group, Inc., serving patients requiring skilled care in their homes or end-of-life hospice care. You can see the volume growth clearly in the quarterly admissions and census figures.

• Home Health and Hospice Services segment revenue for the third quarter of 2025 was $173.6 million, representing about 75.8% of total revenue for that quarter.
• Total home health admissions hit 20,426 in the third quarter of 2025, an increase of 36.2% over the prior year quarter.
• Medicare home health admissions, a key indicator of government payer volume, were 8,221 in the third quarter of 2025, up 35.4% year-over-year.
• Hospice average daily census (ADC) reached an all-time high of 4,044 patients in the third quarter of 2025.

Residents seeking assisted living, independent living, and memory care

The Senior Living Services segment caters to residents needing various levels of support, including assisted living and memory care. The focus here is on occupancy levels and the revenue generated per resident.

• The company achieved an all-time high in senior living occupancy during the third quarter of 2025.
• For the second quarter of 2025, the average occupancy rate was 78.8%.
• In the first quarter of 2025, the average monthly revenue per occupied room was $5,193, which was an increase of 11.3% over the prior year quarter.
• Senior Living Services segment revenue for the second quarter of 2025 was $53.5 million.

Here's a quick look at how the two main service segments performed in the latest reported quarters. Honestly, the growth in the Home Health and Hospice segment is outpacing the Senior Living segment on a percentage basis, but both are showing positive momentum.

Metric	Home Health and Hospice Services	Senior Living Services
Revenue (Q3 2025)	$173.6 million	Implied: $55.4 million (Calculated from Total $229.0M - HHH $173.6M)
Revenue (Q2 2025)	$166.0 million	$53.5 million
Key Volume Indicator (Q3 2025)	Total Admissions: 20,426	Occupancy: All-time high
Key Volume Indicator (Q1 2025)	Hospice ADC: 3,794	Avg. Monthly Revenue Per Occupied Room: $5,193

Managed care organizations and government agencies (indirect customers)

These entities act as significant payers for the services The Pennant Group, Inc. provides, particularly within the home health and hospice space. The volume of Medicare admissions is a direct proxy for the level of engagement with government-sponsored programs.

• Medicare home health admissions accounted for 8,221 of the total 20,426 home health admissions in the third quarter of 2025.
• The company's focus on revenue quality in senior living suggests an awareness of the reimbursement backdrop, though only about 13% of assisted living properties receive federal assistance from Medicaid, as noted in prior periods.

Finance: draft Q4 2025 segment revenue projections by next Tuesday.

The Pennant Group, Inc. (PNTG) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive The Pennant Group, Inc.'s operations as they integrate major growth. The cost structure is heavily weighted toward personnel, which is typical for a provider of this nature, but significant capital deployment for M&A is also a major factor.

High variable costs related to clinical staff wages and benefits are embedded primarily within the Cost of Services. For the Home Health and Hospice Services segment in the second quarter of 2025, the reported Cost of Services was $137,565 thousand on segment revenue of $165,248 thousand. Cost of Services itself is defined as primarily consisting of employee wages and related benefits, supplies, and purchased services. The company actively seeks to manage these labor costs by improving staff retention and reducing reliance on temporary agency services. The company generated $229.0 million in total revenue for the third quarter of 2025.

The commitment to growth via acquisition is a major cost component. The strategic acquisition of home health, hospice, and personal care operations from UnitedHealth Group Incorporated, which closed on October 1, 2025, carried a purchase price of $146.5 million. This deal added 54 locations, primarily in Tennessee. This capital expenditure follows prior growth, as the company took on $52.5 million in new long-term debt in the first quarter of 2025 alone to fund acquisitions. The company also expanded its credit capacity by adding a $100 million term loan to its credit facility during the third quarter of 2025 to support integration and selective M&A.

The decentralized structure necessitates specific Operating expenses for a decentralized structure and shared service center. General and administrative expense, which covers wages and benefits for Service Center personnel providing operational support, was $13,023 thousand for the three months ended September 30, 2024, and totaled $36,337 thousand for the nine months then ended. Management flagged near-term G&A elevation as a margin headwind following the close of the large October 2025 transaction. Acquisition-related costs, which are non-capitalizable, were $2,166 thousand in the first quarter of 2025.

Financing growth has increased the burden of Interest expense on long-term debt. As of September 30, 2024, The Pennant Group, Inc.'s Long-term debt, net stood at $108,875 thousand. The annual interest expenses were noted as $2.04 million over the last 12 months, though the full impact of the Q3 2025 $100 million term loan add-on is incorporated into the raised full-year 2025 guidance for higher interest expense.

Regulatory compliance and reimbursement-related costs present an ongoing risk that impacts cost management. The company faces the possibility of a net 6.4% payment reduction from the proposed 2026 CMS home health rule, which directly pressures margins for contracts indexed to Medicare rates. The Home Health and Hospice segment generated approximately 64.7% of its revenue from Medicare for the year ended December 31, 2024, making it sensitive to these policy shifts.

Here are some key expense and operational metrics for context:

Metric	Value (USD Millions)	Period/Date
FY 2025 Revenue Guidance (Midpoint)	$930.0	FY 2025
Q3 2025 Total Revenue	$229.0	Q3 2025
Acquisition Purchase Price (UHG/Amedisys)	$146.5	October 2025
Long-term Debt, Net	$108.9	September 30, 2024
New Term Loan Add-on	$100.0	Q3 2025
Annual Interest Expense (Approximate)	$2.04	Last 12 Months (Pre-New Debt Impact)
Q1 2025 Acquisition Related Costs	$2.166	Q1 2025
Potential CMS Home Health Payment Reduction	6.4%	Proposed 2026 Rule

You should track the Cost of Services as a percentage of Home Health & Hospice revenue, which was approximately 83.2% in Q2 2025 (137.565 / 165.248). The company's overall Operating Margin was 4.5% in Q3 2025, down from 6% in the same quarter last year, showing cost pressures relative to revenue growth.

• Home Health and Hospice Segment Revenue (Q3 2025): $173.6 million.
• Senior Living Services Segment Revenue (Q3 2025): $55.5 million.
• Total FY 2024 Revenue: $695 million.
• Total FY 2025 Revenue Guidance Raised to: $911.4M-$948.6M.

Finance: draft 13-week cash view by Friday.

The Pennant Group, Inc. (PNTG) - Canvas Business Model: Revenue Streams

You're looking at how The Pennant Group, Inc. (PNTG) actually brings in the money, which is key to understanding its valuation. The revenue streams are built around delivering healthcare services across different settings, primarily in-home care and senior living communities.

For the full year 2025, The Pennant Group, Inc. is guiding total revenue to be between $852.8 million and $887.6 million. That's a solid projection, especially when you look at the trailing twelve-month revenue as of September 30, 2025, which stood at $847 million.

The core of the business is definitely the Home Health and Hospice Services segment, which consistently represents the majority of sales. To give you a concrete look at the scale, here's how the revenue broke down in the second quarter of 2025:

Revenue Segment	Q2 2025 Revenue (in millions)	Year-over-Year Growth
Home Health and Hospice Services	$166.0 million	32.5%
Senior Living Services	$53.5 million	23.1%

The Senior Living Services stream comes from charging for room, board, and the level of care provided in their assisted living, independent living, and memory care communities. You can see the pricing power improving here; for the second quarter of 2025, the average monthly revenue per occupied room hit $5,188, marking an 8.3% increase over the prior year quarter.

When we look at where the money actually comes from-the payor mix-it shows The Pennant Group, Inc. is diversified, which helps mitigate risk from any single government payer change. As of the second quarter of 2025, the mix looked like this:

• Medicare payments accounted for 47.3% of total revenue.
• Medicaid payments made up 14.0% of total revenue.
• Private payors accounted for 24.8% of total revenue.
• Managed Care and other sources fill the remainder.

Also, the Home Care and Other Services revenue stream is defintely growing fast, which is a positive sign for diversification away from traditional episodic care. For the first quarter of 2025, this category brought in $15,166 thousand (or $15.166 million), which was a significant jump from the $4,671 thousand reported in the same period last year.

Finance: draft 13-week cash view by Friday.