Home Health & Hospice Week
After Senate Therapy Report, 'Big 4' Co. Reports Huge Loss
The near future is looking bleak for publicly traded home care companies. The first of the"big four" to report its earnings following the Senate's damning therapy report, Amedisys Inc. disclosed a whopping $423.7 million loss on $374.9 million in revenues for the quarter ended Sept. 30. That compares to a $21.8 million profit on $404.7 million in revenues for the same period in 2010. The loss was due in part to a big $574 million write-down the company took after conducting an impairment test. "This was a difficult quarter for the company," CEO William Borne says in the earnings release. Heads roll: Key top execs are departing, Amedisys also has announced. COO Mike Snow is leaving and CFO Dale Redman will retire in early 2012. And the Baton Rouge, La.,-based chain plans to close or sell 50 locations. "Amedisys' management shake-up, its weak operating and financial trajectory, and the highly uncertain home nursing reimbursement environment combine for a stormy near-term outlook," says Arthur Henderson, an analyst with Jefferies & Co. in Nashville, Tenn., according to Bloomberg Business Week. Stock prices for all of the "big four" home care chains fell on the news.
Home Health & Hospice Week
- Prospective Payment System:
2.3% Pay Cut Hits Freestanding For-Profits Hardest In 2012
Case mix changes reduce reimbursement rates for high-therapy episodes. The home care industry's call to [...] - Diagnosis Coding:
Don't Let These Coding Deletions Make You Tense
Capture those 3 case mix points with better coding. You should hone your coding of [...] - Regulations:
HHAs Make Slight Gains In F2F, Therapy Requirements
Also read up on these CAHPS, ICD-10, and homebound definition changes. In addition to payment [...] - Industry Note:
Looming Medicare Cuts From Super Committee Threaten Home Care
Budget-cutting efforts pick up steam as Thanksgiving deadline approaches. Home care providers may not have [...] - Industry Note:
You Can Ignore These Ownership Questions On New Enrollment Form
When you're filling out the new 855A form, there are a few sections you can [...] - Industry Note:
Say Good-Bye To Last Holdout For Late Charges
Get ready to make a hospice billing change this spring. For April 1 or later [...] - Industry Note:
Part B Deductibles, Premiums Decrease In 2012
Your patients are getting good news about their Medicare bills. Part A premiums will increase [...] - Industry Note:
Avoid These Hospice Technical Denial Hot Spots
Don't let technicalities result in your hospice claims getting denied. The problem: One top cause [...] - Industry Note:
NHIC Providers Should Use This Software Patch
If NHIC is your HHH MAC and you use PC-ACE Pro 32 billing software, be [...] - Industry Note:
Head Off Claims Delays With New MAC Addresses
Just when you've gotten used to sending your documents to one mailing address for new [...] - Industry Note:
After Senate Therapy Report, 'Big 4' Co. Reports Huge Loss
The near future is looking bleak for publicly traded home care companies. The first of [...] - Industry Note:
MO Provider Settles Medicaid Fraud Charges For $130K
A St. Louis-area home care provider, Midland Empire Resources for Independent Living in St. Joseph, [...]
