Thu, Jul 25, 12:03 PM (44 days ago)
Amedisys, Inc. reported a notable increase in net service revenue for Q2 2024, reaching $591 million, up from $553 million in Q2 2023, driven by growth in home health volume and rate increases. Operating income improved to $52 million from $38 million, despite higher merger-related expenses. The company’s home health segment saw a 9% increase in total volume and higher revenue per visit, while the hospice segment benefited from rate increases and a stable average daily census. The high acuity care segment also showed growth in admissions and revenue. However, general and administrative expenses remained high due to planned wage increases and higher health insurance costs. The proposed merger with UnitedHealth Group is pending regulatory approvals and other conditions. Cash flow from operations decreased significantly due to delays in billing and collections, particularly from non-Medicare payors affected by the Change Healthcare cybersecurity incident. The company's liquidity remains strong with $149.9 million in cash and $514.2 million available under its revolving credit facility.