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Home Health & Hospice Week

Industry Note:

Home Care Companies Earnings Drop In Latest Quarter

Published on Fri Mar 02, 2012

Amedisys inks managed care deal. The U.S. Senate's therapy inquiry, the face-to-face assessment requirement, and lower reimbursement rates are among the factors bedeviling publicly traded home care chains. Three more home care companies have reported decreased profits in the latest quarter. Baton Rouge, La.-based Amedisys Inc.'s profits fell to $4.3 million in the quarter ended Dec. 31, compared to $22.3 million for the same period in 2010, according to the company's press release. Service revenues fell from $388.7 million to $370.7 during that time period. "Home health reimbursement cuts and new regulatory requirements led to a challenging year for the sector," Amedisys CEO William Borne said in the release. LHC Group Inc. reported net income of $9.4 million on revenues of $157.7 million, compared to a $15.3 million profit on revenues of $167.1 million in the year-ago quarter. The Lafayette, La.-based company earlier this month said it's exploring "strategic alternatives." [...]
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