El Grupo Pennant, Inc. (PNTG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de Senior Healthcare, Pennant Group, Inc. (PNTG) emerge como una fuerza transformadora, tejiendo tecnología innovadora con atención compasiva. Al mapear estratégicamente su modelo de negocio en las dimensiones clave, esta organización ha creado un enfoque integral para abordar las complejas necesidades de las poblaciones que envejecen. Desde servicios de rehabilitación personalizados hasta plataformas de salud digitales avanzadas, la propuesta de valor única de PNTG está a punto de revolucionar cómo percibimos y brindamos atención para personas mayores, haciendo que la atención médica sea más accesible, eficiente y centrada en el ser humano.

The Pennant Group, Inc. (PNTG) - Modelo de negocios: asociaciones clave

Instalaciones de atención médica y hospitales

A partir del cuarto trimestre de 2023, Pennant Group, Inc. mantiene asociaciones con 113 instalaciones de salud en 13 estados. La compañía opera 82 centros de enfermería especializada y 31 comunidades de vida para personas mayores.

Tipo de asociación	Número de instalaciones	Extensión geográfica
Instalaciones de enfermería especializada	82	13 estados
Comunidades vivas de alto nivel	31	13 estados

Proveedores de seguros y programas de reembolso

El Grupo Pennant ha establecido asociaciones con múltiples proveedores de seguros, que incluyen:

• Medicare (2023 Tasa de reembolso: $ 536.44 por día del paciente)
• Medicaid (tasa de reembolso promedio: $ 492.17 por día del paciente)
• Compañías de seguros privadas

Equipos médicos y proveedores de suministros

Categoría de proveedor	Valor de adquisición anual
Equipo médico	$ 14.3 millones (2023)
Suministros médicos	$ 8.7 millones (2023)

Proveedores de plataforma de tecnología de salud en el hogar

El Grupo Pennant colabora con plataformas de tecnología especializadas en:

• Registros de salud electrónicos (EHR)
• Soluciones de telesalud
• Sistemas de manejo de pacientes

Agencias de reclutamiento y personal

En 2023, el Grupo Pennant trabajó con 27 agencias especializadas de reclutamiento de salud para abordar las necesidades de personal.

Tipo de personal	Fuerza de trabajo total	Porcentaje de adjudicación de la agencia
Enfermeras registradas	1,642	18.3%
Enfermeras prácticas con licencia	872	22.7%
Asistentes de enfermería certificados	2,413	15.6%

The Pennant Group, Inc. (PNTG) - Modelo de negocio: actividades clave

Proporcionar servicios de enfermería especializada y atención médica domiciliaria

A partir del cuarto trimestre de 2023, el Grupo Pennant opera 96 ​​centros de enfermería y enfermería calificada en 11 estados. La compañía administra 64 ubicaciones de salud y hospicio en el hogar que atienden a aproximadamente 7.500 pacientes mensualmente.

Categoría de servicio	Instalaciones totales	Volumen mensual del paciente
Instalaciones de enfermería especializada	52	4,200
Servicios de salud en el hogar	64	7,500
Cuidados de hospicio	12	1,300

Gestión de instalaciones de vida para personas mayores y de vida asistida

La compañía administra 44 instalaciones de vida asistida con una tasa de ocupación promedio del 82.5% a diciembre de 2023.

• Total de camas para personas mayores: 3,750
• Ingresos mensuales promedio por residente: $ 5,600
• Cobertura geográfica: 11 estados occidentales y del medio oeste

Entrega de servicios personalizados de atención y rehabilitación del paciente

En 2023, el grupo de banderines proporcionó servicios de rehabilitación a aproximadamente 5,200 pacientes con una duración promedio de tratamiento de 45 días.

Tipo de servicio de rehabilitación	Volumen de paciente	Duración promedio del tratamiento
Fisioterapia	3,100	38 días
Terapia laboral	1,400	52 días
Terapia del habla	700	35 días

Implementación de soluciones de gestión de salud basadas en tecnología

La compañía invirtió $ 4.2 millones en infraestructura de tecnología de salud en 2023, centrándose en registros de salud electrónicos y sistemas de gestión de pacientes.

• Cobertura del sistema de registro de salud electrónica (EHR): 100% de las instalaciones
• Implementación del servicio de telesalud: 38 ubicaciones
• Inversión tecnológica anual: $ 4.2 millones

Expandir el alcance geográfico a través de adquisiciones estratégicas

En 2023, el Grupo Pennant completó 7 adquisiciones estratégicas, agregando 12 nuevas instalaciones de salud a su cartera.

Año de adquisición	Número de instalaciones	Inversión total
2023	12	$ 47.6 millones
2022	9	$ 35.3 millones
2021	6	$ 22.1 millones

The Pennant Group, Inc. (PNTG) - Modelo de negocio: recursos clave

Profesionales de la salud capacitados y personal de enfermería

A partir del cuarto trimestre de 2023, el Grupo Pennant empleó a 9,700 profesionales de la salud en 57 comunidades en 11 estados.

Categoría profesional	Número de empleados
Enfermeras registradas	2,450
Enfermeras prácticas con licencia	1,850
Asistentes de enfermería certificados	4,200
Personal de atención médica administrativa	1,200

Tecnología médica avanzada y plataformas de salud digital

Inversión en plataformas tecnológicas: $ 3.2 millones en 2023.

• Sistema de registro de salud electrónica (EHR)
• Infraestructura de telesalud
• Software de gestión de pacientes
• Tecnologías de monitoreo remoto

Instalaciones de atención médica física e infraestructura

Al 31 de diciembre de 2023, el Grupo Pennant operaba:

Tipo de instalación	Número total	Capacidad total
Comunidades vivas de alto nivel	57	4.200 residentes
Ubicaciones de salud en el hogar	23	N / A
Centros de cuidados de hospicio	8	120 camas para pacientes

Fuerte equipo de gestión operativa y liderazgo

Composición de liderazgo a partir de 2024:

• Ejecutivos con experiencia en gestión de salud promedio de más de 15 años
• Compensación ejecutiva total: $ 4.7 millones en 2023
• Junta Directiva: 7 miembros

Reputación establecida en servicios de atención médica y atención para personas mayores y servicios de salud

Métricas de rendimiento clave:

• Calificación de satisfacción del cliente: 4.2/5
• Calificación de calidad de 5 estrellas de Medicare: 4.1/5
• Ingresos anuales: $ 270.4 millones en 2023

The Pennant Group, Inc. (PNTG) - Modelo de negocio: propuestas de valor

Servicios integrales y compasivos de atención para personas mayores

A partir del cuarto trimestre de 2023, el Pennant Group, Inc. brinda servicios de atención para personas mayores en 179 ubicaciones en 11 estados.

Categoría de servicio	Número de instalaciones	Ingresos anuales
Comunidades vivas de alto nivel	84	$ 327.4 millones
Servicios de salud en el hogar	95	$ 212.6 millones

Soluciones de atención médica personalizadas para las poblaciones de envejecimiento

La compañía atiende a aproximadamente 10,500 pacientes anualmente con planes de atención individualizados.

• Edad promedio del paciente: 78 años
• Planes de atención personalizados para la gestión de condiciones crónicas
• Programas de rehabilitación a medida

Rehabilitación de alta calidad y apoyo médico

Los servicios de rehabilitación generaron $ 89.3 millones en ingresos para 2023.

Tipo de rehabilitación	Volumen de paciente	Tasa de éxito
Fisioterapia	4.200 pacientes	87%
Terapia laboral	2.800 pacientes	82%

Atención y monitoreo del paciente habilitado para la tecnología

Las inversiones en tecnología totalizaron $ 6.2 millones en 2023 para soluciones de salud digital.

• Sistemas de monitoreo de pacientes remotos
• Integración de registros de salud electrónicos
• Plataformas de consulta de telesalud

Alternativas de salud rentables para personas mayores

Ahorro promedio de costos del 22% en comparación con la atención tradicional de hospital.

Tipo de cuidado	Costo tradicional	Costo de PNTG	Porcentaje de ahorro
Atención médica domiciliaria	$ 6,500/mes	$ 4,950/mes	24%
Servicios de rehabilitación	$ 15,200/episodio	$ 11,850/episodio	22%

The Pennant Group, Inc. (PNTG) - Modelo de negocios: relaciones con los clientes

Gestión de atención personalizada y apoyo al paciente

A partir del cuarto trimestre de 2023, el Grupo Pennant manejó 87 comunidades de vida para personas mayores y 58 agencias de salud y hospicio en el hogar en 11 estados. La compañía atiende a aproximadamente 7.500 pacientes diariamente con estrategias de atención personalizada.

Tipo de servicio de atención	Volumen de paciente	Soporte diario promedio
Comunidades vivas de alto nivel	5.200 residentes	Atención personalizada 24/7
Servicios de salud en el hogar	2.300 pacientes	Apoyo individualizado de atención domiciliaria

Comunicación directa con pacientes y familias

La compañía utiliza estrategias de comunicación multicanal con equipos de coordinación de atención dedicada.

• Conferencias semanales de cuidado familiar
• Plataformas de comunicación digital
• Líneas telefónicas de gestión de atención dedicada
• Acceso de registro de salud electrónica para familias

Continuidad de atención a largo plazo y construcción de relaciones

Tasa promedio de retención de pacientes del 78% en los servicios de salud y salud en el hogar en 2023.

Métrica de relación de cuidado	Actuación
Duración promedio de compromiso del paciente	24-36 meses
Repetir la utilización del servicio	62% de los pacientes

Participación digital a través de plataformas de monitoreo de salud

Implementó el monitoreo de la salud digital para el 65% de los pacientes de salud en el hogar en 2023, utilizando tecnologías de seguimiento de salud en tiempo real.

• Monitoreo de letreros vitales remotos
• Servicios de consulta de telesalud
• Gestión de medicamentos digitales

Servicio al cliente receptivo y defensa del paciente

Las métricas de servicio al cliente para 2023 demostraron una tasa de satisfacción del paciente del 92% en las líneas de servicio.

Métrica de calidad de servicio	Actuación
Puntaje de satisfacción del paciente	92%
Tiempo de respuesta a consultas de pacientes	Menos de 4 horas
Tasa de resolución de quejas	97%

The Pennant Group, Inc. (PNTG) - Modelo de negocio: canales

Admisión directa al paciente a través de referencias de atención médica

En el tercer trimestre de 2023, el Grupo Pennant informó 88 ubicaciones de salud y hospicio en el hogar en 11 estados. Las referencias directas de los pacientes representaban el 67.3% del total de admisiones de pacientes.

Fuente de referencia	Porcentaje
Hospitales	42.5%
Prácticas médicas	24.8%
Otros proveedores de atención médica	22.7%

Plataformas de servicios de salud en línea

La compañía opera plataformas de admisión digital con una tasa de eficiencia de procesamiento de referencias digitales del 94.2%.

• Integración del registro de salud electrónica (EHR)
• Programación de pacientes en línea
• Servicios de consulta de telesalud

Instalaciones y clínicas de atención médica física

Al 31 de diciembre de 2023, el Grupo Pennant manejó 88 ubicaciones de salud y hospicio en el hogar.

Tipo de instalación	Número de ubicaciones
Centros de salud en el hogar	62
Instalaciones de hospicio	26

Inscripción de seguro y Medicare/Medicaid

En 2023, la compañía procesó 73,892 reclamos de seguro con una tasa de éxito de reembolso del 98.6%.

Tipo de seguro	Porcentaje de reclamos
Seguro médico del estado	61.4%
Seguro de enfermedad	22.3%
Seguro privado	16.3%

Programas de divulgación y marketing de la comunidad

El Grupo Pennant invirtió $ 2.7 millones en iniciativas de marketing y participación comunitaria en 2023.

• Eventos de redes profesionales de atención médica
• Seminarios de salud comunitaria
• Campañas de marketing digital
• Patrocinios del grupo de apoyo al paciente

The Pennant Group, Inc. (PNTG) - Modelo de negocio: segmentos de clientes

Ancianos y personas mayores que requieren atención médica

A partir del cuarto trimestre de 2023, el grupo de banderines atiende a aproximadamente 12.500 pacientes de edad avanzada en múltiples estados. La edad promedio de los pacientes tiene 78.3 años.

Grupo de edad	Población de pacientes	Gasto anual de atención
65-74 años	3.750 pacientes	$42,500,000
75-84 años	5.600 pacientes	$73,200,000
85+ años	3,150 pacientes	$48,750,000

Pacientes que necesitan servicios de rehabilitación

En 2023, el grupo de banderines brindó servicios de rehabilitación a 4,200 pacientes con una duración de rehabilitación promedio de 45 días.

• Rehabilitación ortopédica: 2.100 pacientes
• Rehabilitación neurológica: 1.050 pacientes
• Rehabilitación cardíaca: 750 pacientes
• Rehabilitación pulmonar: 300 pacientes

Individuos con condiciones de salud crónicas

La compañía administra la atención para 6.300 pacientes con afecciones de salud crónicas en 2023.

Condición crónica	Contar con el paciente	Costo de gestión anual
Diabetes	1.890 pacientes	$22,680,000
Cardiopatía	1.575 pacientes	$31,500,000
Trastornos respiratorios	1.260 pacientes	$18,900,000
Otras condiciones crónicas	1.575 pacientes	$23,625,000

Familias que buscan soluciones de atención a largo plazo

En 2023, el Grupo Pennant apoyó a 3.750 familias con necesidades de atención a largo plazo.

• Instalaciones de vida asistida: 2.250 residentes
• Instalaciones de enfermería especializada: 1.050 residentes
• Servicios de atención médica en el hogar: 450 familias

Poblaciones elegibles para Medicare y Medicaid

A partir de 2023, el Grupo Pennant atiende a 9.450 pacientes elegibles para Medicare y Medicaid.

Tipo de pagador	Contar con el paciente	Reembolso anual
Seguro médico del estado	6.300 pacientes	$189,000,000
Seguro de enfermedad	3,150 pacientes	$94,500,000

The Pennant Group, Inc. (PNTG) - Modelo de negocio: Estructura de costos

Salarios y capacitación profesionales de atención médica

Según el informe anual de 2022 de la compañía, los costos laborales totales fueron de $ 440.9 millones. Desglose de los gastos laborales:

Categoría	Costo anual
Salarios y salarios	$ 395.6 millones
Capacitación profesional	$ 22.3 millones
Beneficios para empleados	$ 23.0 millones

Equipos médicos e inversiones en tecnología

Inversiones de tecnología y equipos para 2022:

• Gastos de capital total: $ 18.2 millones
• Actualizaciones de tecnología médica: $ 12.5 millones
• Software e infraestructura digital: $ 5.7 millones

Mantenimiento de la instalación y gastos operativos

Desglose de costos operativos para el año fiscal 2022:

Categoría de gastos	Costo anual
Alquiler y arrendamiento de la instalación	$ 37.6 millones
Utilidades	$ 8.3 millones
Mantenimiento y reparaciones	$ 14.2 millones

Costos relacionados con el seguro y el cumplimiento

Cumplimiento y gastos de seguro para 2022:

• Seguro de responsabilidad civil profesional: $ 6.8 millones
• Costos de cumplimiento regulatorio: $ 4.5 millones
• Tarifas legales y de consultoría: $ 3.2 millones

Gastos de marketing y adquisición de pacientes

Gastos de marketing para el año fiscal 2022:

Canal de marketing	Gasto anual
Marketing digital	$ 2.7 millones
Publicidad tradicional	$ 1.5 millones
Programas de referencia	$ 1.1 millones

The Pennant Group, Inc. (PNTG) - Modelo de negocios: flujos de ingresos

Reembolsos de Medicare y Medicaid

Para el año fiscal 2023, el Grupo Pennant reportó $ 362.1 millones en ingresos por servicios netos de los reembolsos de Medicare y Medicaid.

Categoría de reembolso	Ingresos totales (2023)	Porcentaje de ingresos totales
Reembolsos de Medicare	$ 256.4 millones	70.8%
Reembolsos de Medicaid	$ 105.7 millones	29.2%

Pagos de seguro privado

Los pagos de seguro privado generaron $ 87.3 millones en ingresos para el Grupo Pennant en 2023.

• Reembolsos de seguro comercial: $ 62.5 millones
• Planes de Medicare Advantage: $ 24.8 millones

Tarifas directas de servicio al paciente

Las tarifas directas de servicio al paciente representaron $ 24.6 millones en ingresos para la compañía en 2023.

Ingresos del centro de atención a largo plazo

Las instalaciones de atención a largo plazo generaron $ 278.9 millones en ingresos totales para el año fiscal 2023.

Tipo de instalación	Número de instalaciones	Ingresos totales
Instalaciones de enfermería especializada	79	$ 214.3 millones
Instalaciones de vida asistida	56	$ 64.6 millones

Cargos de servicio de salud en el hogar

Los servicios de salud en el hogar generaron $ 112.7 millones en ingresos para el Grupo Pennant en 2023.

• Visitas de salud en el hogar: 387,500
• Ingresos promedio por visita: $ 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.