Amedisys Statement on CY 2023 Home Health Final Rule

Rhea-AI Summary

Amedisys, Inc. (NASDAQ: AMED) responded to the CY 2023 Home Health Final Rule released by CMS, stating it is an improvement over prior proposals. The rule includes a 4.0% market basket update, the highest for home health agencies, and reduces behavioral adjustment cuts by half. Amedisys acknowledges the support from Congress and advocates in the healthcare community while expressing ongoing concerns about the CMS's budget neutrality methodology. The company remains committed to working with stakeholders to ensure sustainable Medicare payment policies for home health services.

Positive

• 4.0% market basket update is the highest increase for home health agencies.
• Behavioral adjustment cuts reduced by half, benefiting home health providers.

Negative

• Ongoing concerns about CMS's flawed budget neutrality methodology.

BATON ROUGE, La., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Amedisys, Inc. (NASDAQ: AMED), a leading provider of quality home health, hospice, personal care and high-acuity care, issued the following statement following the CY 2023 Home Health Final Rule by the Centers for Medicare and Medicaid Services (CMS).

“While not the ideal outcome, today’s release of the CY 2023 Home Health Final Rule is a welcomed improvement over what was proposed by CMS this summer in regard to the overall payment update for next year. The unprecedent inflation we are experiencing across the country led to a 4.0% market basket update, the highest update we have seen for home health agencies. CMS’s decision to reduce the behavioral adjustment cuts calculated by half for CY 2023 is also helpful, and one that was undoubtedly impacted by the significant volume of comments and advocacy conducted over the last six months by home health providers, our dedicated clinicians, patient advocacy groups, trade associations and Members of Congress. We thank our champions in Congress for their steadfast support and we also thank the Administrator and the team at CMS for the changes made in the Final Rule. However, we still have serious concerns regarding the agency’s continued reliance on a flawed budget neutrality methodology that produced the Proposed Rule and today’s result.

Amedisys looks forward to joining our industry colleagues in working with our home health champions in Congress to ensure that Medicare payment policy for home health services accomplishes the budget neutrality requirements set forth and contemplated by Congress.”  

About Amedisys:

Amedisys, Inc. is a leading healthcare at home Company delivering personalized home health, hospice, personal care and high-acuity care services. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based personal care; inpatient hospital, palliative, and skilled nursing facility (“SNF”) care in their homes; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of life. More than 3,000 hospitals and 90,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With approximately 21,000 employees, in 547 care centers in 36 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 445,000 patients in need every year, performing more than 11.5 million visits annually. For more information about the Company, please visit: www.amedisys.com.

Contact:
Nick Muscato Amedisys, Inc. Investor Relations  615.928.5452 nick.muscato@amedisys.com	Kendra Kimmons Amedisys, Inc. Media Relations 225.299.3720 Kendra.kimmons@amedisys.com

FAQ

What is the significance of the CY 2023 Home Health Final Rule for Amedisys?

The CY 2023 Home Health Final Rule provides a 4.0% payment update, benefiting Amedisys financially.

How does Amedisys view the behavioral adjustment cuts in the new CMS rule?

Amedisys welcomes the reduction of behavioral adjustment cuts by half, viewing it as a positive change.

What concerns does Amedisys have regarding the CMS Home Health payment policy?

Amedisys expresses concerns about the continued reliance on a flawed budget neutrality methodology by CMS.

How many patients does Amedisys serve annually?

Amedisys serves over 445,000 patients each year through its extensive network.

What is the market response to Amedisys following the CMS's Home Health Final Rule announcement?

The overall market response is cautious, reflecting the mixed implications of the new CMS rules for Amedisys.