Amedisys and other home health-care providers would rather the U.S. government make the industry swallow a bitter pill of reimbursement cuts now than spread the pain over the next few years, The Baltimore Sun reports today. With the sector facing a 3.35% cut in reimbursement rates over the next five years, Amedisys shares are falling, recalling a similar situation in the late 1990s when the Baton Rouge-based company was pushed close to bankruptcy. “There’s no fun waking up in the morning and seeing your stock continue to tumble because of the uncertainty in Washington,” the company’s CEO, William Borne, is quoted as saying. Amedisys is currently worth $393 million, but has lost more than three-quarters of its market value in 18 months on the reimbursement cuts and government investigations into the industry’s billing practices. Read the full story here.
Amedisys wounded by reimbursement cuts
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