Amedisys Reports Lower Second Quarter Earnings

BATON ROUGE, La. (July 28, 2022)—Second quarter earnings for Amedisys are down $6.3 million compared to 2021, the company said in a press release this week. The report covered the three-month period ending June 30. 

The company’s adjusted earnings before tax, depreciation and amortization (EBITDA) were also down nearly 11%, from $83.8 million to $74.4 million.

“Our second quarter 2022 results reflect the continued COVID impacts in all of our lines of business but also show how we as an organization continue to successfully navigate an environment unlike anything we have operated in before,” President and CEO Chris Gerard said. 

Some Positives
He added that the company has increased its Home Health Quality of Patient Care Stars score and 100% of care centers are at four stars or above. 

The company also saw a slight increase in revenue from its hospice segment, posting average daily census growth for the first time since Q3 of 2020.

Amedisys completed the acquisition of Evolution Health in April, expanding it’s services to Texas, Oklahoma and Ohio. It also purchased some of the home health assets of Assisted Care Home Health and AssistedCare of the Carolinas.

On the Home Health Rule
Gerard said that the company is “baffled” by the recently issued Centers for Medicare & Medicaid Services (CMS) home health proposed rule, which includes a 7.69% payment cut to home health providers.

“In the coming weeks and months, we will continue working with our bipartisan Congressional supporters to align reimbursement with the congressional intent of the Bipartisan Budget Act of 2018 and the actual impacts to the industry over the past two years,” Gerard said. 

Read the full report here.