Amedisys reported a solid second quarter late Wednesday, despite continued disruptions from the COVID-19 pandemic and sluggishness in its hospice business.
The Baton Rouge, LA-based company earned $557.6 million in revenues for the quarter ended June 30, a 15% increase over $485 million during the same period last year. Adjusted earnings per share totaled $1.69 compared to $1.34 last year.
In an earnings release, Amedisys said its hospice business is behind in both admissions and average daily census due to the pandemic. The company said COVID-19 has made it difficult to hire and retain employees at a level needed to reach its growth targets. The pandemic is also disrupting health systems and elective surgeries, which funnel patients into its home health business.
On Aug. 1, Amedisys closed on the acquisition of Contessa Health, a hospital-at-home and skilled nursing facility (SNF) at-home firm. The company said the addition of Contessa Health will help it become more risk-bearing and expand beyond home healthcare and hospice.
Amedisys operates in 39 states and the District of Columbia, serving more than 400,000 patients annually.
