Chemed Corporation is a diversified holding company that operates two main business segments: VITAS, one of the nation's largest hospice and palliative care providers generating the vast majority of revenue from Medicare and Medicaid reimbursements on a per diem basis, and Roto-Rooter, a plumbing and drain cleaning service provider operating through company-owned locations and franchises with highly recognized trademarks. The company maintains a decentralized operating structure, with corporate management handling strategic planning and capital allocation while business units manage day-to-day operations independently. VITAS is subject to extensive federal healthcare regulations and operates in a highly fragmented hospice industry dominated by small community-based providers, while Roto-Rooter competes in a similarly fragmented local and regional plumbing services market.