Amedisys, Inc. (NASDAQ: AMED), one of America's leading home health and
hospice care companies, today announced that it has signed a new
agreement with Humana Inc. (NYSE: HUM) to provide home health services.
Under the new agreement Amedisys will receive payment on a per visit
basis. Previously, Amedisys was reimbursed on an episodic basis. While
the agreement is national in scope, not all markets served under the
former agreement may be served under the new agreement. Revenue earned
from Humana has been approximately $65-$70 million on an annualized
basis, and we anticipate the new agreement will generate revenue levels
of approximately half this amount. Revenue will be impacted beginning in
the fourth quarter of 2012; however, the full impact will not occur
until 2013.
William F. Borne, chief executive officer of Amedisys, Inc. stated, “We
are pleased to continue our relationship with Humana by delivering
high-quality care for its members. This agreement demonstrates our
commitment to caring for patients whose health care is covered by
managed care organizations.”
Humana Inc., headquartered in Louisville, Ky., is one of the nation’s
largest health and supplemental benefits companies.
Amedisys Inc. is headquartered in Baton Rouge, La. Its common stock
trades on the NASDAQ Global Select Market under the symbol AMED.
About Amedisys:
Amedisys, Inc. (NASDAQ: AMED) is a leading health care at home
company delivering personalized home health and hospice care to more
than 360,000 patients each year. Amedisys is focused on delivering the
care that is best for our patients, whether that is home-based recovery
and rehabilitation after an operation or injury, care focused on
empowering them to manage a chronic disease, palliative care for those
with a terminal illness, or hospice care at the end of life. The
Company's state-of-the-art advanced chronic care management programs and
leading-edge technology enables it to deliver quality care based upon
the latest evidence-based best practices. Amedisys is a recognized
innovator, being one of the first in the industry to equip its
clinicians with point-of-care laptop technology and referring physicians
with an internet portal that enables real-time coordination of patient
care seamlessly. Amedisys also has the industry's first-ever nationwide
Care Transitions program, designed to reduce unnecessary hospital
readmissions through patient and caregiver health coaching and care
coordination, which starts in the hospital and continues throughout
completion of the patient's home health plan of care. For more
information about the Company, please visit: http://www.amedisys.com.
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect," "anticipate" or similar expressions.
Forward-looking statements inherently involve risks and uncertainties
that could cause actual results to differ materially from the
forward-looking statements. Many of the factors that could cause or
contribute to such differences are described in the Company's periodic
reports and registrations statements filed with the Securities and
Exchange Commission, and include, but are not limited to the following:
general economic and business conditions, changes in or failure to
comply with existing regulations or the inability to comply with new
government regulations on a timely basis, changes in Medicare and other
medical reimbursement levels, ability to complete acquisitions announced
from time to time, and any financing related thereto, the ability to
meet debt service requirements and to comply with covenants in debt
agreements, adverse changes in federal and state laws relating to the
health care industry, demographic changes, availability and terms of
capital, ability to attract and retain qualified personnel, ongoing
development and success of new start-ups, ability to successfully
integrate newly acquired agencies, changes in estimates and judgments
associated with critical accounting policies, business disruption due to
natural disasters or acts of terrorism, and various other matters, many
of which are beyond management's control. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of this
release.
Our company website address is http://www.amedisys.com.
We use our website as a channel of distribution for important company
information. Important information, including press releases, analyst
presentations and financial information regarding the Company is
routinely posted on and accessible on the "Investor Relations" subpage
of our website, which is accessible by clicking on the tab labeled
"Investors" on our website home page. We will also use our website to
expedite public access to time-critical information regarding the
Company in advance of or in lieu of distributing a press release or a
filing with the Securities and Exchange Commission ("SEC") disclosing
the same information. In addition, we make available on the Investor
Relations subpage of our website (under the link "SEC filings") free of
charge our annual reports on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K, ownership reports on Forms 3, 4 and 5 and
any amendments to those reports as soon as practicable after we
electronically file such reports with the SEC. Further, copies of our
Certificate of Incorporation and Bylaws, our Code of Ethical Business
Conduct and the charters for the Audit, Compensation and Nominating and
Governance Committees of our Board are also available on the Investor
Relations subpage of our website (under the link "Corporate Governance").
