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Home Health & Hospice Week

Industry Note:

Publicly Traded HHA Chains Report Massive Losses

Published on Sun Oct 10, 2010

One company bucks the trend with a modest sprofit for the third quarter. More fallout from the Senate's investigation into publicly traded home care companies' therapy practices has come to light. Gentiva Health Services Inc. and LHC Group Inc. have reported big losses, adding to the loss reported by Amedisys Inc. slightly earlier. Only Almost Family Inc. managed to pull a small profit out of the quarter ended Sept. 30. Gentiva reported a massive $473.6 million loss for the quarter, greater than the $449.7 million it recorded in revenues. That compares to an 8.2 million profit on $379.7 million in revenues for the same period in 2010. Gentiva's loss outstripped the $423.7 million one Baton Rouge, La.-based Amedisys announced earlier (see Eli's HCW, Vol. XX, No. 39, p. 312). Atlanta-based Gentiva's share price fell further on the earnings news. The shares have lost more than 80 percent of their value [...]
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