Encompass Health Corporation EHC recently inaugurated the new location for Encompass Health Rehabilitation Hospital of North Alabama in Huntsville, which has been shifted from its earlier location in the same city.
The groundbreaking ceremony for starting work on the new site of Encompass Health Rehabilitation Hospital of North Alabama took place in October 2020. In the same event, management unveiled plans to commence operations in the spring of 2022. It is worth mentioning that the healthcare provider has achieved its target as the relocated hospital opened in April, which falls in the spring season in the United States.
The Encompass Health Rehabilitation Hospital of North Alabama is presently equipped with 85 beds, while at the time of the groundbreaking ceremony, the hospital was supposed to consist of 76 beds. Thus, there seems to have been a capacity boost in the hospital, which will enable Encompass Health to more effectively serve individuals grappling with debilitating illnesses and injuries across Huntsville and the neighboring regions.
Backed by upgraded rehabilitation technologies, the hospital will enable Encompass Health to bring about improved health outcomes across the Huntsville community and, in turn, Alabama. To ensure the seamless return of the hospital’s patients to their normal daily activities, they will be provided with therapy for five days a week, which will last at least three hours per day. During their staying tenure, patients will be subject to frequent visits by a Physical Medicine and Rehabilitation Physician.
Encompass Health pursues continuous efforts to strengthen its presence in Alabama. The latest initiative is a testament to the same, wherein EHC has not only relocated the hospital that has been catering to the Huntsville community for more than three decades but also expanded its capacity. Encompass Health boasts a solid footprint in Alabama, with several inpatient rehabilitation hospitals spread across the state’s regions of Birmingham, Dothan, Gadsden, Montgomery, Pelham and Phenix City.
Encompass Health follows a rapid expansion strategy through which it discloses plans to construct inpatient rehabilitation hospitals that are ready to commence operations within the targeted time period. Continuous hospital inaugurations and the recent move of relocating the North Alabama hospital with additional capacity are expected to drive the performance of EHC’s Inpatient Rehabilitation segment. As a matter of fact, this segment usually contributes the most to the healthcare provider’s top-line growth, which highlights the immense importance of the continued sound performance of the segment. With a robust portfolio of 147 hospitals, 251 home health hubs and 96 hospice centers across 42 states and Puerto Rico, Encompass Health seems well-poised to deliver enhanced healthcare services to its patients in the days ahead.
Shares of Encompass Health have gained 10.3% year to date against the industry’s decline of 9.6%. EHC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Apart from Encompass Health, healthcare providers like Tenet Healthcare Corporation THC, HCA Healthcare, Inc. HCA and Community Health Systems, Inc. CYH deliver high-quality rehabilitative services and boast a solid nationwide portfolio.
Tenet Healthcare operates a network of hospitals and related healthcare facilities for offering high-quality rehabilitative services and other healthcare-related services. THC has been continuously undertaking numerous acquisitions, partnerships and strategic alliances for driving the scale of business, operating capacity and expanding geographical presence. At the end of 2021, Tenet Healthcare boasts an expansive care network encompassing 60 hospitals and 535 other healthcare facilities.
HCA Healthcare operates as one of the leading U.S. healthcare services providers, with a portfolio consisting of 175 hospitals, five psychiatric hospitals and two rehabilitation hospitals at the 2021-end. HCA manages 125 freestanding surgery centers and 21 freestanding endoscopy centers. HCA Healthcare has been pursuing acquisitions, which have been bolstering its portfolio, leading to network expansion and driving patient volumes.
Being a well-established operator of general acute care hospitals and outpatient facilities across U.S. communities, Community Health either owned or leased 81 general acute care hospitals and two stand-alone rehabilitation or psychiatric hospitals at the end of 2021. CYH has over 1,000 outpatient facilities in place. Community Health aims to add facilities and pursue buyouts for bolstering its capabilities and nationwide network.
Shares of Tenet Healthcare and HCA Healthcare have gained 1.7% and 0.5%, respectively, year to date. Meanwhile, Community Health stock has lost 19% in the same time frame.
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