While waiting for UnitedHealth Group’s (NYSE: UNH) purchase of it to finalize, Amedisys Inc. (Nasdaq: AMED) continues to grow its home health segment – primarily through non-Medicare revenue – and its higher-acuity care segment.
The company reported its first-quarter earnings late Wednesday, which showed a 10% increase in total same store admissions in home health care and a 23% year-over-year jump in higher-acuity care admissions.
Hospice admissions and revenue, meanwhile, dipped slightly year over year.
Overall, the company brought in 571.4 million in the quarter, a 2.7% increase compared to the $556.4 billion it brought in over the same time period last year. Home health revenue increased from $343.3 million to $360 million, good for a 6% increase.
Like last quarter, home health Medicare fee-for-service revenue stayed about even, while non-Medicare revenue soared. Specifically, non-Medicare home health revenue rose to $148.2 million, a close to 16% year-over-year increase.
While the high-acuity care segment saw that 23% year-over-year increase, the revenues from that segment still only totaled $6.4 million in the quarter.
UnitedHealth Group’s Optum is still expected to close on its $3.3 billion all-cash deal for Amedisys by the end of this year. While the deal has drawn scrutiny from the Department of Justice, there is reason to believe a sensical divestment strategy from Amedisys would bring it to the finish line.
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