8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): May 3, 2023

Commission File Number: 0-24260

AMEDISYS, INC.

(Exact Name of Registrant as specified in its Charter) 

Delaware	11-3131700
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

3854 American Way, Suite A, Baton Rouge, LA 70816

(Address of principal executive offices, including zip code)

(225) 292-2031 or (800) 467-2662

(Registrant’s telephone number, including area code) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	AMED	The NASDAQ Global Select Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

SECTION 2 — FINANCIAL INFORMATION

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 3, 2023, Amedisys, Inc. ("we," "us," "our," or "the Company") issued a press release (the “Press Release”) announcing its financial results for the first quarter ended March 31, 2023. A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information presented in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, unless we specifically state that the information is to be considered “filed” under the Exchange Act or specifically incorporate it by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.

SECTION 7 – REGULATION FD

ITEM 7.01. REGULATION FD DISCLOSURE

Item 2.02 of this Current Report on Form 8-K is incorporated herein by reference.

In addition, a copy of the Company's first quarter supplemental slides are attached to this report as Exhibit 99.2 and incorporated herein by reference.

The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibits 99.1 and 99.2 hereto) is being “furnished” and shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of Section 18, nor shall it be incorporated by reference into a filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibits 99.1 and 99.2 hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

99.1	Press release dated May 3, 2023 announcing the Company's results for the first quarter ended March 31, 2023 (furnished only)
99.2	Supplemental slides provided in connection with the first quarter 2023 earnings release (furnished only)
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 

AMEDISYS, INC.

(Registrant)

By:    /s/ Scott G. Ginn

    Scott G. Ginn

    Acting Chief Operating Officer, Executive Vice President and Chief Financial Officer

    (Principal Financial Officer)

DATE: May 3, 2023

EX-99.1

Exhibit 99.1

AMEDISYS REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS

AND UPDATES 2023 GUIDANCE

BATON ROUGE, Louisiana (May 3, 2023) — Amedisys, Inc. (NASDAQ: AMED) today reported its financial results for the three-month period ended March 31, 2023.

Three-Month Periods Ended March 31, 2023 and 2022

◦Net service revenue increased $11.1 million to $556.4 million compared to $545.3 million in 2022.

◦Net income attributable to Amedisys, Inc. of $25.2 million compared to $31.7 million in 2022.

◦Net income attributable to Amedisys, Inc. per diluted share of $0.77 compared to $0.97 in 2022.

Adjusted Quarterly Results*

•Adjusted EBITDA of $57.8 million compared to $66.3 million in 2022.

•Adjusted net income attributable to Amedisys, Inc. of $32.7 million compared to $40.1 million in 2022.

•Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.00 compared to $1.23 in 2022.

* See pages 2 and 12 - 13 for the definition and reconciliations of non-GAAP financial measures to GAAP measures.

Richard Ashworth, President and Chief Executive Officer, stated, “I am very pleased by our strong outperformance on adjusted EBITDA and EPS versus our internal expectations this quarter, and I am incredibly thankful for our 18,000 associates who helped to deliver these results. Quality is a core value at Amedisys, and it was one of the biggest drivers for me in joining the organization. In my first few weeks here, I have had the distinct pleasure of spending time in the field with our caregivers and regional associates, and having the opportunity to see and hear all they do, it is no wonder why we are the highest quality provider in our spaces. Quality is also a self-fulfilling prophecy as higher quality drives better growth and financial performance. I look forward to our continued progress across our four strategic focus areas of Growth, People, Clinical Optimization and Contessa and am excited to deliver more quarters of repeatable and predictable financial performance.”

Scott Ginn, Acting Chief Operating Officer, Executive Vice President and Chief Financial Officer, said, “I am very encouraged by our first quarter performance as our strong home health admissions and hospice adjusted EBITDA margin improvement outpaced our internal projections. We are on track in our clinical optimization initiatives which benefited the hospice segment in the first quarter but will ultimately benefit all segments as we eliminate administrative processes in our care centers in order to have a singular focus on patient care.”

Updated 2023 Guidance

We are updating our previously issued guidance:

•Adjusted net service revenue is anticipated to be in the range of $2.254 billion to $2.274 billion.

•Adjusted EBITDA is anticipated to be in the range of $235 million to $245 million.

•Adjusted diluted earnings per share is anticipated to be in the range of $4.14 to $4.36 based on an estimated 32.8 million shares outstanding.

This guidance excludes the effects of any future acquisitions and potential share repurchases, if any are made.

The foregoing full year 2023 financial guidance excludes the impact of the Company's pending combination with Option Care Health.

1

We urge caution in considering the current trends and 2023 guidance disclosed in this press release. The home health, hospice and high acuity care industries are highly competitive and subject to intensive regulations, and trends are subject to numerous factors, risks, and uncertainties, some of which are referenced in the cautionary language below and others that are described more fully in our reports filed with the Securities and Exchange Commission (“SEC”) including our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, subsequent Quarterly Reports on Form 10-Q, and current reports on Form 8-K which can be found on the SEC’s internet website, http://www.sec.gov, and our internet website, http://www.amedisys.com.

Earnings Call Information

In a separate press release issued today, Amedisys announced it has entered into a definitive agreement to combine with Option Care Health.

Amedisys and Option Care Health will host an investor call today at 5:30 p.m. Eastern Time to discuss the details of the transaction. Details for such call are available in the separate press release issued today. In light of the transaction announcement, we will forego our previously scheduled first quarter 2023 earnings conference call.

Non-GAAP Financial Measures

This press release includes reconciliations of the most comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”) to non-GAAP financial measures. The non-GAAP financial measures as defined under SEC rules are as follows: (1) adjusted EBITDA, defined as net income attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items; (2) adjusted net income attributable to Amedisys, Inc., defined as net income attributable to Amedisys, Inc. excluding certain items; and (3) adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net income attributable to Amedisys, Inc. common stockholders per diluted share excluding certain items. Management believes that these non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, are useful gauges of our current performance and are also included in internal management reporting. These non-GAAP financial measures should be considered in addition to, and not more meaningful than or as an alternative to the GAAP financial measures presented in this earnings release and the company’s financial statements. Non-GAAP measures as presented herein may not be comparable to similarly titled measures reported by other companies since not all companies calculate these non-GAAP measures consistently.

Additional Information

Amedisys, Inc. (the “Company”) is a leading healthcare at home company delivering personalized home health, hospice and high acuity care services. Amedisys is focused on delivering the care that is best for our patients, whether that is in-patient hospital, palliative and skilled nursing facility ("SNF") care in their homes; home-based recovery and rehabilitation after an operation or injury, care focused on empowering our patients to manage a chronic disease, or hospice care at the end of life. More than 3,000 hospitals and 102,000 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 18,000 employees in 522 care centers within 37 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 455,000 patients and clients in need every year. For more information about the Company, please visit: www.amedisys.com.

We use our website as a channel of distribution for important company information. Important information, including press releases, investor presentations and financial information regarding our 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. Visitors to our website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations subpage of our website.

2

Forward-Looking Statements

When included in this press release, words like “believes,” “belief,” “expects,” “strategy,” “plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,” “might,” “will,” “could,” “would,” “should” and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to, the following: the risk that the cost savings and any revenue synergies or other synergies from the proposed merger with Option Care Health may not be realized or may take longer than anticipated to be realized; disruption from the proposed merger with patient, payer, provider, referral sources, supplier or management and employee relationships; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement with Option Care Health or the inability to complete the proposed transaction on the anticipated terms and timetable; the risk that necessary regulatory approvals for the proposed merger with Option Care Health are delayed, are not obtained or are obtained subject to conditions that are not anticipated; the failure of the conditions to the proposed merger to be satisfied; the inability to complete the proposed transaction due to the failure to obtain approval of the stockholders at Option Care Health or Amedisys or to satisfy any other condition in a timely manner or at all; the risks related to the integration of the combined businesses, including the risk that the integration will be materially delayed or will be more costly or difficult than expected; the ability of the combined company to execute carefully its strategic plans; the costs related to the proposed transaction; the diversion of management time on merger-related issues; the ability of Option Care Health to effectively manage the larger and more complex operations of the combined company following the proposed merger with the Company; reputational risk related to the proposed merger; the risk of litigation or regulatory action related to the proposed merger; changes in Medicare and other medical payment levels; changes in payments and covered services by federal and state governments; future cost containment initiatives undertaken by third-party payors; changes in the episodic versus non-episodic mix of our payors, the case mix of our patients and payment methodologies; staffing shortages driven by the competitive labor market; our ability to attract and retain qualified personnel; competition in the healthcare industry; our ability to maintain or establish new patient referral sources; changes in or our failure to comply with existing federal and state laws or regulations or the inability to comply with new government regulations on a timely basis; the impact of the novel coronavirus pandemic ("COVID-19") on our business, financial condition and results of operations; changes in estimates and judgments associated with critical accounting policies; our ability to consistently provide high-quality care; our ability to keep our patients and employees safe; our access to financing; our ability to meet debt service requirements and comply with covenants in debt agreements; business disruptions due to natural or man-made disasters, climate change or acts of terrorism, widespread protests or civil unrest; our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively; our ability to realize the anticipated benefits of acquisitions, investments and joint ventures; our ability to integrate, manage and keep our information systems secure; the impact of inflation; and changes in laws or developments with respect to any litigation relating to the Company, including various other matters, many of which are beyond our control.

Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on any forward-looking statement as a prediction of future events. We expressly disclaim any obligation or undertaking and we do not intend to release publicly any updates or changes in our expectations concerning the forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based, except as required by law.

Contact:    Investor Contact:Media Contact:

Amedisys, Inc.                    Amedisys, Inc.

        Nick Muscato                    Kendra Kimmons

        Chief Strategy Officer             Vice President, Marketing & Communications

    (615) 928- 5452                    (225) 299-3720

IR@amedisys.comkendra.kimmons@amedisys.com

3

AMEDISYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INCOME STATEMENTS

(Amounts in thousands, except per share data)

(Unaudited)

	For the Three-Month  Periods Ended March 31,
	2023		2022
Net service revenue	$	556,389	$	545,257
Operating expenses:
Cost of service, inclusive of depreciation	315,010		304,820
General and administrative expenses:
Salaries and benefits	126,339		123,480
Non-cash compensation	3,273		7,347
Depreciation and amortization	4,443		8,008
Other	64,945		53,640
Total operating expenses	514,010		497,295
Operating income	42,379		47,962
Other income (expense):
Interest income	406		13
Interest expense	(7,517)		(3,173)
Equity in earnings (loss) from equity method investments	123		(1,403)
Miscellaneous, net	(682)		333
Total other expense, net	(7,670)		(4,230)
Income before income taxes	34,709		43,732
Income tax expense	(9,800)		(12,019)
Net income	24,909		31,713
Net loss (income) attributable to noncontrolling interests	337		(42)
Net income attributable to Amedisys, Inc.	$	25,246	$	31,671
Basic earnings per common share:
Net income attributable to Amedisys, Inc. common stockholders	$	0.78	$	0.97
Weighted average shares outstanding	32,558		32,555
Diluted earnings per common share:
Net income attributable to Amedisys, Inc. common stockholders	$	0.77	$	0.97
Weighted average shares outstanding	32,643		32,766

4

AMEDISYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share data)

	March 31, 2023 (unaudited)		December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	49,436	$	40,540
Restricted cash	19,664		13,593
Patient accounts receivable	294,122		296,785
Prepaid expenses	18,754		11,628
Other current assets	23,581		26,415
Total current assets	405,557		388,961
Property and equipment, net of accumulated depreciation of $105,183 and $101,364	33,353		16,026
Operating lease right of use assets	85,211		102,856
Goodwill	1,244,679		1,287,399
Intangible assets, net of accumulated amortization of $16,071 and $14,604	99,929		101,167
Other assets	78,230		79,836
Total assets	$	1,946,959	$	1,976,245
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	40,017	$	43,735
Payroll and employee benefits	122,723		125,387
Accrued expenses	137,899		137,390
Current portion of long-term obligations	26,958		15,496
Current portion of operating lease liabilities	25,453		33,521
Total current liabilities	353,050		355,529
Long-term obligations, less current portion	373,202		419,420
Operating lease liabilities, less current portion	59,826		69,504
Deferred income tax liabilities	22,752		20,411
Other long-term obligations	4,781		4,808
Total liabilities	813,611		869,672
Equity:
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued or outstanding	—		—
Common stock, $0.001 par value, 60,000,000 shares authorized; 37,938,354 and 37,891,186 shares issued; 32,544,145 and 32,511,465 shares outstanding	38		38
Additional paid-in capital	758,669		755,063
Treasury stock, at cost, 5,394,209 and 5,379,721 shares of common stock	(462,508)		(461,200)
Retained earnings	782,918		757,672
Total Amedisys, Inc. stockholders’ equity	1,079,117		1,051,573
Noncontrolling interests	54,231		55,000
Total equity	1,133,348		1,106,573
Total liabilities and equity	$	1,946,959	$	1,976,245

5

AMEDISYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS AND DAYS REVENUE OUTSTANDING

(Amounts in thousands, except statistical information)

(Unaudited)

	For the Three-Month Periods Ended March 31,
	2023		2022
Cash Flows from Operating Activities:
Net income	$	24,909	$	31,713
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (inclusive of depreciation included in cost of service)	5,694		8,008
Non-cash compensation	3,273		7,347
Amortization and impairment of operating lease right of use assets	8,622		10,096
(Gain) loss on disposal of property and equipment	(70)		5
Loss on personal care divestiture	2,186		—
Deferred income taxes	2,772		3,205
Equity in (earnings) loss from equity method investments	(123)		1,403
Amortization of deferred debt issuance costs	248		248
Return on equity method investments	1,787		1,710
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable	(7,476)		(18,618)
Other current assets	(4,128)		7,882
Operating lease right of use assets	(918)		(749)
Other assets	(111)		247
Accounts payable	(3,457)		(2,115)
Accrued expenses	741		7,483
Other long-term obligations	(28)		(57)
Operating lease liabilities	(7,960)		(9,187)
Net cash provided by operating activities	25,961		48,621
Cash Flows from Investing Activities:
Proceeds from the sale of deferred compensation plan assets	19		22
Proceeds from the sale of property and equipment	—		37
Purchases of property and equipment	(1,350)		(902)
Investments in technology assets	(210)		(236)
Purchase of cost method investment	—		(15,000)
Proceeds from personal care divestiture	47,787		—
Acquisitions of businesses, net of cash acquired	(350)		—
Net cash provided by (used in) investing activities	45,896		(16,079)
Cash Flows from Financing Activities:
Proceeds from issuance of stock upon exercise of stock options	—		86
Proceeds from issuance of stock to employee stock purchase plan	816		985
Shares withheld to pay taxes on non-cash compensation	(1,308)		(4,682)
Noncontrolling interest contributions	—		652
Noncontrolling interest distributions	(285)		(672)
Proceeds from borrowings under revolving line of credit	8,000		—
Repayments of borrowings under revolving line of credit	(8,000)		—
Principal payments of long-term obligations	(55,313)		(3,771)
Purchase of noncontrolling interest	(800)		—
Net cash used in financing activities	(56,890)		(7,402)
Net increase in cash, cash equivalents and restricted cash	14,967		25,140
Cash, cash equivalents and restricted cash at beginning of period	54,133		45,769
Cash, cash equivalents and restricted cash at end of period	$	69,100	$	70,909

6

	For the Three-Month  Periods Ended March 31,
	2023		2022
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	6,654	$	1,864
Cash paid for income taxes, net of refunds received	$	352	$	551
Cash paid for operating lease liabilities	$	8,878	$	9,936
Cash paid for finance lease liabilities	$	2,457	$	357
Supplemental Disclosures of Non-Cash Activity:
Right of use assets obtained in exchange for operating lease liabilities	$	7,083	$	11,203
Right of use assets obtained in exchange for finance lease liabilities	$	20,790	$	216
Reductions to right of use assets resulting from reductions to operating lease liabilities	$	141	$	299
Reductions to right of use assets resulting from reductions to finance lease liabilities	$	369	$	—
Noncontrolling interest contribution	$	—	$	8,900
Days revenue outstanding (1)	46.3		46.3

(1) Our calculation of days revenue outstanding at March 31, 2023 and 2022 is derived by dividing our ending patient accounts receivable by our average daily patient revenue for the three-month periods ended March 31, 2023 and 2022, respectively.

7

AMEDISYS, INC. AND SUBSIDIARIES

SEGMENT INFORMATION

(Amounts in millions, except statistical information)

(Unaudited)

Segment Information - Home Health

	For the Three-Month Periods Ended March 31,
	2023			2022
Financial Information(in millions) (6):
Medicare	$	215.4		$	224.1
Non-Medicare	127.9			111.6
Net service revenue	343.3			335.7
Cost of service, inclusive of depreciation	197.0			185.2
Gross margin	146.3			150.5
General and administrative expenses	89.1			83.2
Depreciation and amortization	1.1			0.9
Operating income	$	56.1		$	66.4
Same Store Growth(1):
Medicare revenue	(7		%)	1		%
Non-Medicare revenue	12		%	4		%
Total admissions	8		%	2		%
Total volume(2)	5		%	—		%
Key Statistical Data - Total(3)(6):
Admissions	101,963			91,764
Recertifications	43,325			42,856
Total volume	145,288			134,620
Medicare completed episodes	73,563			74,443
Average Medicare revenue per completed episode(4)	$	2,974		$	3,013
Medicare visits per completed episode(5)	12.4			13.0
Visiting clinician cost per visit	$	100.00		$	97.28
Clinical manager cost per visit	10.97			10.62
Total cost per visit	$	110.97		$	107.90
Visits	1,775,206			1,716,211

(1) Same store information represents the percent change in our Medicare, Non-Medicare and Total revenue, admissions or volume for the period as a percent of the Medicare, Non-Medicare and Total revenue, admissions or volume of the prior period. Same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center.

(2) Total volume includes all admissions and recertifications.

(3) Total includes acquisitions, start-ups and denovos.

(4) Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care. Average Medicare revenue per completed episode reflects the suspension of sequestration for the three-month period ended March 31, 2022 and the reinstatement of sequestration at 2% for the three-month period ended March 31, 2023.

(5) Medicare visits per completed episode are the home health Medicare visits on completed episodes divided by the home health Medicare episodes completed during the period.

(6) Prior year has been recast to conform to the current year presentation.

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Segment Information - Hospice

	For the Three-Month Periods Ended March 31,
	2023			2022
Financial Information(in millions):
Medicare	$	182.7		$	182.5
Non-Medicare	10.7			10.6
Net service revenue	193.4			193.1
Cost of service, inclusive of depreciation	101.4			106.4
Gross margin	92.0			86.7
General and administrative expenses	47.9			51.3
Depreciation and amortization	0.6			0.6
Operating income	$	43.5		$	34.8
Same Store Growth(1):
Medicare revenue	—		%	1		%
Hospice admissions	(5		%)	2		%
Average daily census	(1		%)	(3		%)
Key Statistical Data - Total(2):
Hospice admissions	12,998			13,886
Average daily census	12,730			12,920
Revenue per day, net	$	168.83		$	166.04
Cost of service per day	$	88.21		$	91.48
Average discharge length of stay	90			89

(1) Same store information represents the percent change in our Medicare revenue, Hospice admissions or average daily census for the period as a percent of the Medicare revenue, Hospice admissions or average daily census of the prior period. Same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center.

(2) Total includes acquisitions and denovos.

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Segment Information - Personal Care (1)

	For the Three-Month Periods Ended March 31,
	2023		2022
Financial Information(in millions):
Medicare	$	—	$	—
Non-Medicare	15.0		14.0
Net service revenue	15.0		14.0
Cost of service, inclusive of depreciation	11.1		10.8
Gross margin	3.9		3.2
General and administrative expenses	2.3		2.2
Depreciation and amortization	—		0.1
Operating income	$	1.6	$	0.9
Key Statistical Data - Total:
Billable hours	440,464		451,032
Clients served	7,892		7,479
Shifts	191,379		193,742
Revenue per hour	$	33.97	$	30.95
Revenue per shift	$	78.19	$	72.04
Hours per shift	2.3		2.3

(1) We completed the sale of our personal care business on March 31, 2023.

10

Segment Information - High Acuity Care

	For the Three-Month Periods Ended March 31,
	2023		2022
Financial Information(in millions) (1):
Medicare	$	—	$	—
Non-Medicare	4.7		2.5
Net service revenue	4.7		2.5
Cost of service, inclusive of depreciation	5.5		2.4
Gross margin	(0.8)		0.1
General and administrative expenses	4.4		4.3
Depreciation and amortization	0.8		0.8
Operating loss	$	(6.0)	$	(5.0)
Key Statistical Data - Total:
Full risk admissions	158		106
Limited risk admissions	459		227
Total admissions	617		333
Full risk revenue per episode	$	11,343	$	10,077
Limited risk revenue per episode	$	5,711	$	5,779
Number of admitting joint venture markets	10		9

(1)Prior year has been recast to conform to the current year presentation.

Segment Information - Corporate

	For the Three-Month Periods Ended March 31,
	2023		2022
Financial Information(in millions) (1):
General and administrative expenses	$	50.9	$	43.5
Depreciation and amortization	1.9		5.6
Total operating expenses	$	52.8	$	49.1

(1)Prior year has been recast to conform to the current year presentation.

11

AMEDISYS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES

(Amounts in thousands)

(Unaudited)

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") Reconciliation:

	For the Three-Month Periods Ended March 31,
	2023		2022
Net income attributable to Amedisys, Inc.	$	25,246	$	31,671
Add:
Income tax expense	9,800		12,019
Interest expense, net	7,111		3,160
Depreciation and amortization	5,694		8,008
Certain items(1)	9,987		11,450
Adjusted EBITDA(2)(5)	$	57,838	$	66,308

Adjusted Net Income Attributable to Amedisys, Inc Reconciliation:

	For the Three-Month Periods Ended March 31,
	2023		2022
Net income attributable to Amedisys, Inc.	$	25,246	$	31,671
Add:
Certain items(1)	7,489		8,473
Adjusted net income attributable to Amedisys, Inc.(3)(5)	$	32,735	$	40,144

Adjusted Net Income Attributable to Amedisys, Inc. per Diluted Share Reconciliation:

	For the Three-Month Periods Ended March 31,
	2023		2022
Net income attributable to Amedisys, Inc. common stockholders per diluted share	$	0.77	$	0.97
Add:
Certain items(1)	0.23		0.26
Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share(4)(5)	$	1.00	$	1.23

12

(1)    The following details the certain items for the three-month periods ended March 31, 2023 and 2022:

Certain Items:

	For the Three-Month Periods Ended March 31,
	2023		2022
	(Income) Expense		(Income) Expense
Certain Items Impacting Cost of Service, Inclusive of Depreciation:
COVID-19 costs	$	—	$	3,733
Fuel supplement	—		337
Clinical optimization and reorganization costs	114		—
Certain Items Impacting General and Administrative Expenses:
Acquisition and integration costs	1,667		1,378
COVID-19 costs	—		153
Executive Board of Directors/CEO transition award	750		3,500
Legal fees - non-routine	—		51
Clinical optimization and reorganization costs	3,890		—
Personal care divestiture	514		—
Certain Items Impacting Total Other Income (Expense):
Other (income) expense, net	3,052		2,298
Total	$	9,987	$	11,450
Net of tax	$	7,489	$	8,473
Diluted EPS	$	0.23	$	0.26

(2) Adjusted EBITDA is defined as net income attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items as described in footnote 1.

(3)    Adjusted net income attributable to Amedisys, Inc. is defined as net income attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items as described in footnote 1.

(4)    Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted income per share calculated in accordance with GAAP excluding the earnings per share effect of certain items as described in footnote 1.

(5)    Adjusted EBITDA, adjusted net income attributable to Amedisys, Inc. and adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share should not be considered as an alternative to, or more meaningful than, income before income taxes or other measures calculated in accordance with GAAP. These calculations may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate these non-GAAP financial measures in the same manner.

13

EX-99.2

1 Amedisys First Quarter 2023 Earnings Release Supplemental Slides May 3rd, 2023 Exhibit 99.2

2 This presentation may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those described in this presentation. You should not rely on forward-looking statements as a prediction of future events. Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Amedisys internet website http://www.amedisys.com or by contacting the Amedisys Investor Relations department at (225) 292-2031. We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law. www.amedisys.com NASDAQ: AMED We encourage everyone to visit the Investors Section of our website at www.amedisys.com, where we have posted additional important information such as press releases, profiles concerning our business, clinical operations and control processes and SEC filings. FORWARD-LOOKING STATEMENTS Exhibit 99.2

3 OUR KEY AREAS OF FOCUS Strategic areas of focus and progress made during Q1’23 • Home Health*: Total same store admissions +8% • Hospice: Total same store admissions -5%, ADC -1% • Personal Care: PC Network drove ~$262K in revenue to Home Health and Hospice via care coordination • High Acuity Care: Admissions +85% over prior year 1 Organic Growth • Quality: Amedisys Jul’23 preview STARS score of 4.47 • 99% of care centers at 4+ Stars based on Jul’23 preview • 42 Amedisys care centers rated at 5 Stars in the Jul’23 preview • Hospice quality – outperforming industry average in all hospice item set (HIS) categories 3 Clinical Initiatives • Focusing on optimizing RN / LPN & PT / PTA staffing ratios. • Current LPN Ratio: 48.2% (vs. 47.8% in 1Q’22) • Current PTA Ratio: 54.4% (vs. 53.4% in 1Q’22) 4 Capacity and Productivity • Completed divestiture of Personal Care business effective 3/31/2023 5 M&A 2 Recruiting / Retention • Targeting industry leading employee retention amongst all employee categories • Q1’23 Voluntary Turnover 18.7% *Note: Home Health same store volume is defined as admissions plus recertifications 2023 Reimbursement • Final Hospice industry rule – Amedisys impact +3.8% increase (effective 10/1/22) • Final Home Health industry rule – Amedisys impact flat (effective 1/1/23) 2024 Reimbursement • Proposed Hospice industry rule – Amedisys estimated impact +2.8% increase (effective 10/1/23) 6 Regulatory Exhibit 99.2

4 HIGHLIGHTS AND SUMMARY FINANCIAL RESULTS (ADJUSTED): 1Q 2023(1) Home Health total same store admissions +8%; Hospice same store admissions -5%; EBITDA margin decline driven by the return of sequestration ($9M), planned wage increases and the shift in Home Health volumes from episodic to per visit payors 1. The financial results for the three-month periods ended March 31, 2022 and March 31, 2023 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non- GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Same Store volume – Includes admissions and recertifications. 3. Same Store is defined as care centers that we have operated for at least the last 12 months and startups that are an expansion of a same store care center. 4. Free cash flow is defined as cash flow from operations less routine capital expenditures and required debt repayments. 5. Reflects the suspension of sequestration for the three-month period ended March 31, 2022 and the reinstatement of sequestration at 2% for the three-month period ended March 31, 2023. Growth Metrics: • Total Admissions: 617 • Number of admitting JV markets: 10 Other Statistics: • Patient Satisfaction: 85% High Acuity Care Adjusted Financial Results Growth Metrics: • Billable hours/quarter: -2% • Clients served: +6% Other Statistics: • Revenue per hour: +10% • Cost per hour: +6% Personal Care Same Store Volume (3): • Admissions: -5% • ADC: -1% Other Statistics: • Revenue per Day(5): $168.83 (+1.7%) • Cost per day: $88.14 (-2.5%) HospiceHome Health Same Store (2)(3) : • Total Admissions: +8% • Total Volume: +5% Other Statistics: • Revenue per Episode(5): $2,974 (-1.3%) • Visiting Clinician Cost per Visit: $99.47 (+4.0%) • Medicare VPE decreased 0.6 (-4.6%) Amedisys Consolidated • Revenue Growth:+2.0% • EBITDA: $58M • EBITDA Margin: 10.4% (ex. Contessa: 11.4%) • EPS: $1.00 Amedisys Consolidated Amedisys Consolidated Balance Sheet & Cash Flow • Net debt: $334.5M • Net Leverage ratio: 1.3x • Revolver availability: $519.2M • CFFO: $26.0M • Free cash flow (4): $19.7M • DSO: 46.3 (vs. Q1’22 of 46.3 and up 0.2 days since Q4) $ in Millions, except EPS 1Q22 1Q23 Home Health 335.7$ 343.3$ Hospice 193.1 193.4 Personal Care 14.0 15.0 High Acuity Care 2.5 4.7 Total Revenue 545.3$ 556.4$ Gross Margin % 44.8% 43.6% Adjusted EBITDA 66.3$ 57.8$ 12.2% 10.4% Adjusted EPS 1.23$ 1.00$ Free cash flow (4) 43.9$ 19.7$ Exhibit 99.2

5 62.7% 12.0% 25.3% Home Health Revenue Medicare FFS Private Episodic Per Visit 61.7% 34.8% 2.7% 0.8% Amedisys Consolidated Revenue Home Health Hospice Personal Care High Acuity Care • Medicare FFS: Reimbursed for a 30-day period of care • Private Episodic: MA and Commercial plans who reimburse us for a 30-day period of care, majority of which range from 95% - 100% of Medicare rates • Per Visit: Managed care, Medicaid and private payors who reimburse us per visit performed 94.5% 5.5% Hospice Revenue Medicare FFS Private Hospice Per Day Reimbursement: • Routine Care: Patient at home with symptoms controlled ~97% of the Hospice care AMED provides, in line with overall hospice industry provision of care • Continuous Care: Patient at home with uncontrolled symptoms • Inpatient Care: Patient in facility with uncontrolled symptoms • Respite Care: Patient at facility with symptoms controlled • Home Health: 348 care centers; 34 states & D.C. • Hospice: 165 care centers; 31 states • Personal Care: We divested our personal care business during the three-month period ended March 31, 2023. • High Acuity Care: 10 admitting joint venture markets; 8 states; 34 referring hospitals • Total AMED: 522 care centers; 37 states and D.C. OUR REVENUE SOURCES: 1Q’23 Exhibit 99.2

6 HOME HEALTH AND HOSPICE SEGMENT (ADJUSTED) – Q1 2023(1) • Revenue per Episode down 1.3% due to the reinstatement of sequestration at 2.0%. Reimbursement is flat year over year. • Y/Y Total CPV up $4.16 (+3.9%) primarily due to raises, an increase in salaried employees, higher contractor costs (COVID-related rate increases are no longer classified as an adjusting item) and visit mix. • Cost per episode down 1.1% (Medicare) Home Health Highlights • Net revenue per day +1.7%; +3.8% Hospice rate update effective 10/1/2022 was offset by the reinstatement of sequestration at 2%. • Cost per day down $2.29 (-2.5%) primarily due to clinical optimization and reorganization initiatives, lower staffing levels and lower contractor utilization partially offset by planned wage increases. Hospice Highlights 1. The financial results for the three-month periods ended March 31, 2022 and March 31, 2023 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Pre-Corporate EBITDA does not include any corporate G&A expenses. 3. Same Store information represents the percent change in volume, admissions or ADC for the period as a percent of the volume, admissions or ADC of the prior period. 4. Same Store is defined as care centers that we have operated for at least the last 12 months and startups that are an expansion of a same store care center. 5. Reflects the suspension of sequestration for the three-month period ended March 31, 2022 and the reinstatement of sequestration at 2% for the three-month period ended March 31, 2023. 6. Prior year amounts have been recast to conform to the current year presentation. $ in Millions 1Q22(6) 1Q23 Medicare 224.1$ 215.4$ Non-Medicare 111.6 127.9 Home Health Revenue $335.7 $343.3 Gross Margin % 45.6% 42.9% Pre-Corporate EBITDA (2) $70.3 $58.8 20.9% 17.1% Operating Statistics Same Store Growth (3 )(4 ) Total admissions 2% 8% Total volume 0% 5% Medicare revenue per episode (5 ) $3,013 $2,974 Medicare recert rate 34.2% 32.3% Total cost per visit $106.29 $110.45 HOME HEALTH $ in Millions 1Q22 1Q23 Medicare 182.5$ 182.7$ Non-Medicare 10.6 10.7 Hospice Revenue $193.1 $193.4 Gross Margin % 45.5% 47.8% Pre-Corporate EBITDA (2) $36.9 $45.2 19.1% 23.4% Operating Statistics Admit growth - same store (3 )(4 ) 2% -5% ADC growth - same store (3 )(4 ) -3% -1% ADC 12,920 12,730 Avg. discharge length of stay 89 90 Revenue per day (net)(5) $166.04 $168.83 Cost per day $90.43 $88.14 HOSPICE Exhibit 99.2

7 $ in Millions 1Q22 2Q22 3Q22 4Q22 1Q23 Home Health Segment - Total 83.2 88.7 87.7 89.9 89.0 % of HH Revenue 24.8% 25.5% 25.9% 26.2% 25.9% Hospice Segment - Total 51.3 50.8 48.6 50.8 47.9 % of HSP Revenue 26.6% 25.6% 24.4% 25.7% 24.8% Personal Care Segment - Total 2.2 2.3 2.3 2.4 2.2 % of PC Revenue 15.8% 15.2% 14.0% 14.9% 14.9% High Acuity Care Segment - Total 4.3 5.1 5.2 5.1 4.4 % of HAC Revenue 155.0% 116.2% 95.0% 87.8% 94.6% Total Corporate Expenses 38.4 35.5 38.3 40.4 44.2 % of Total Revenue 7.0% 6.3% 6.9% 7.2% 7.9% Total 179.4 182.4 182.1 188.6 187.7 % of Total Revenue 32.9% 32.2% 32.6% 33.6% 33.7% GENERAL & ADMINISTRATIVE EXPENSES – ADJUSTED (1,2,3) Notes: • Year over year total G&A as a percentage of revenue increased 80 basis points ($8 million) • Excluding our home health acquisitions ($3 million), total G&A is up $5 million due to planned wage increases, IT fees, recruiting fees and insurance-related costs • Total G&A decreased $1 million sequentially • Lower spend across our segments primarily due to the seasonality of health insurance costs which was partially offset by higher incentive compensation costs, recruiting fees and IT fees in corporate 1. The financial results for the three-month periods ended March 31, 2022, June 30, 2022, September 30, 2022, December 31, 2022 and March 31, 2023 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Adjusted G&A expenses do not include depreciation and amortization. 3. Prior periods have been recast to conform to the current year presentation. Impacted by acquisitions and raises 32.9% 32.2% 32.6% 33.6% 33.7% 31.0% 33.0% 35.0% 1Q22 2Q22 3Q22 4Q22 1Q23 Total G&A as a Percent of Revenue G&A as a Percent of Revenue 1Q22 2Q22 3Q22 4Q22 1Q23 Salary and Benefits 25.6 25.3 23.8 25.5 26.3 Other 11.1 7.7 13.2 12.5 15.5 Corp. G&A Subtotal 36.7 33.0 37.0 38.0 41.8 Non-cash comp 1.7 2.5 1.3 2.4 2.4 Adjusted Corporate G&A 38.4 35.5 38.3 40.4 44.2 Exhibit 99.2

8 OPERATIONAL EXCELLENCE: HOME HEALTH COST PER VISIT (CPV)-ADJUSTED YOY Total CPV impacted by labor cost pressures and prior year benefit related to COVID contractor add-back. *Note: Direct comparison with industry competitors CPV calculation ** Note: In 1Q’22, the addback of COVID costs reduced Visiting Clinician CPV by $1.50. Accordingly, our YOY increase is $2.29 or 2.4% $25.00 $50.00 $75.00 $100.00 1Q22 4Q22 1Q23 Cost Per Visit (CPV) Salaries Contractors Benefits Transportation $95.68 $103.38 $99.47 Components 1Q’22(1) 4Q’22(1) 1Q’23 YoY Variance Detail Initiatives Salaries $70.34 $74.25 $72.79 $2.45 YoY increase due to planned wage increases, an increase in salaried employees and visit mix Sequential decrease due to one less holiday and lower new hire pay Staffing mix optimization, productivity and scheduling improvement initiatives in place to help overcome salary increases Contractors $5.60 $5.60 $6.50 $0.90 Prior year benefited from COVID add- backs (1Q’22: $1.17, 4Q’22: $0.75) Focused efforts on filling positions with full-time clinicians Benefits $12.43 $15.81 $12.95 $0.52 YoY increase due to higher payroll taxes on salary increases described above Sequential decrease due to the seasonality of health insurance claims Focus on cost containment and spend optimization with specific focus on high-cost claims Transportation & Supplies $7.31 $7.72 $7.23 ($0.08) YoY and sequential variances due to the capitalization of fleet vehicle leases in 1Q’23; YoY decline was partially offset by increases in clinician mileage reimbursement *Visiting Clinician CPV $95.68 $103.38 $99.47 $3.79** Clinical Managers $10.61 $11.60 $10.98 $0.37 Fixed cost associated with non-visiting clinicians Sequential variance due to impact of fixed costs on higher visit volumes Unit cost reduced as volume increases Total CPV $106.29 $114.98 $110.45 $4.16 1. Prior year periods have been recast to conform to the current year presentation. Exhibit 99.2

9 DRIVING TOP LINE GROWTH Home Health admissions growth remains strong; volume impacted by mix shift. Sequential Hospice average daily census decline due to softer admission volumes and seasonality. 0% -2% 1% 1% 5% 2% 0% 5% 5% 8% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 50,000 100,000 150,000 1Q22 2Q22 3Q22 4Q22 1Q23 Volume SS Volume Growth SS Admit Growth Home Health Growth Hospice Growth -3% 0% 1% -2% -1% 2% 6% -3% -8% -5% -9.0% -6.0% -3.0% 0.0% 3.0% 6.0% 12,000 12,500 13,000 13,500 14,000 1Q22 2Q22 3Q22 4Q22 1Q23 ADC Admits SS ADC Growth SS Admit Growth *2022 Hospice care center closures impacted 2023 ADC by ~ 129 and Admits by 176 Exhibit 99.2

10 3.00 3.50 4.00 4.50 PS Industry Performance Amedisys PS Score PS Industry Avg PS Top Competitor 3.00 3.50 4.00 4.50 QPC Industry Performance Amedisys QPC Industry Avg QPC Top Competitor INDUSTRY LEADING QUALITY SCORES Metric Oct 22 Release Jan 23 Release Apr 23 Preview Jul 23 Preview Quality of Patient Care 4.49 4.49 4.49 4.47 Entities at 4+ Stars 100% 99% 99% 99% Metric Jul 22 Release Oct 22 Release Jan 23 Release Apr 23 Preview Patient Satisfaction Star 3.92 3.60 3.57 3.65 Performance Over Industry +5% +3% +1% NA Quality of Patient Care (QPC) Patient Satisfaction (PS) • Amedisys maintains a 4-Star average in the Jul 2023 HHC Preview with 99% of our providers (representing 99% of care centers) at 4+ Stars and 79% of our providers (representing 80% of care centers) at 4.5+ Stars. •30 Amedisys providers (representing 42 care centers) rated at 5 Stars. Notes: (1) CMS did not provide QPC Star and HH-CAHPS performance releases in 2021 due to COVID-19 PHE. (2) Jul 2023 QPC Star Preview performance period = Oct 2021 – Sep 2022 (Jul 2020 - Jun 2021 for ACH). (3) Apr 2023 HH-CAHPS Preview performance period = Oct 2021 – Sep 2022 (4) QPC Star and HH-CAHPS Results for Amedisys Legacy providers only. CMS Blind Period CMS Blind Period Exhibit 99.2

11 HOSPICE QUALITY: AMEDISYS HOSPICE CONTINUES TO MOVE TOWARDS BEST-IN-CLASS Hospice Quality Notes: Included in the above analysis are only active providers. Exhibit 99.2

12 DEBT AND LIQUIDITY METRICS Net leverage ~1.3x 1. Net debt defined as total debt outstanding ($403.4M) less cash ($69.1M). 2. Leverage ratio (net) is defined as net debt divided by last twelve months adjusted EBITDA ($253.6M). 3. Liquidity defined as the sum of cash balance and available revolving line of credit. Outstanding Revolver - Outstanding Term Loan 383.1 Promissory Notes 0.2 Finance Leases 20.1 Total Debt Outstanding 403.4 Less: Deferred Debt Issuance Costs (3.3) Total Debt - Balance Sheet 400.1 Total Debt Outstanding 403.4 Less Cash (69.1) Net Debt (1) 334.3 Leverage Ratio (net) (2) 1.3 Term Loan 450.0 Revolver Size 550.0 Borrowing Capacity 1,000.0 Revolver Size 550.0 Outstanding Revolver - Letters of Credit (30.8) Available Revolver 519.2 Plus Cash 69.1 Total Liquidity (3) 588.3 As of: 3/31/23 Credit Facility Outstanding Debt As of: 3/31/23 Exhibit 99.2

13 CASH FLOW STATEMENT HIGHLIGHTS (1) Total cash flow from operations for Q1-23 of $26M. 1. Free cash flow defined as cash flow from operations less routine capital expenditures and required debt repayments. $ in Millions 1Q22 2Q22 3Q22 4Q22 1Q23 GAAP Net Income 31 .7 29.0 25.4 31 .5 24.9 Changes in working capital (5.4) 1 3 .6 (67 .3) 6.9 (1 4.3) Depreciation and amortization 8.0 6.2 5.5 5.2 5.7 Non-cash compensation 7 .3 5.1 3 .5 0.6 3 .3 Deferred income taxes 3.2 2 .8 1 3 .0 4.3 2 .8 Other 3.8 0.7 6.3 (7 .6) 3 .6 Cash flow from operations 48.6 57.4 (13.6) 40.9 26.0 Capital expenditures - routine (0.9) (1 .5) (1 .5) (1 .5) (1 .0) Required debt repay ments (3.8) (3.2) (3 .2) (3 .2) (5.3) Free cash flow 43.9 52.7 (18.3) 36.2 19.7 Capital Deployment Acquisitions - (7 3.3) 1 .4 - - Share Repurchases - (1 7 .4) - - - Total - (90.7) 1.4 - - Exhibit 99.2

14 INCOME STATEMENT ADJUSTMENTS (1) 1. The financial results for the three-month periods ended March 31, 2022, June 30, 2022, September 30, 2022, December 31, 2022 and March 31, 2023 are adjusted for certain items and should be considered a non-GAAP financial measure. A reconciliation of these non-GAAP financial measures is included in the corresponding 8-K detailing quarterly results for each respective reporting period. 2. Other (income) expense, net includes a $2.2 million loss related to our Personal Care divestiture on March 31, 2023. Q1 adjustments primarily related to clinical optimization and reorganization initiatives, Personal Care divestiture and acquisition and integration costs. $000s Income Statement Line Item 1Q22 2Q22 3Q22 4Q22 1Q23 Revenue Contingency accrual Net Service Revenue -$ 8,374$ 931$ -$ -$ Cost of Service Clinical optimization and reorganization costs Cost of Service, Inclusive of Depreciation - 195 1,154 33 114 COVID-19 costs Cost of Service, Inclusive of Depreciation 3,733 1,803 1,701 1,510 - Integration costs Cost of Service, Inclusive of Depreciation - 1,401 311 - - Fuel supplement Cost of Service, Inclusive of Depreciation 337 1,016 1,962 261 - G&A Acquisition and integration costs G&A, Salaries and benefits 316 1,674 1,025 378 500 Clinical optimization and reorganization costs G&A, Salaries and benefits - 810 1,386 (152) 52 Personal Care divestiture G&A, Salaries and benefits - - - - 318 COVID-19 costs G&A, Salaries and benefits 24 12 - 3 - Executive Board of Directors/CEO transition awards G&A, Salaries and benefits 3,500 - - - 750 Severance G&A, Salaries and benefits - - - 993 - Fuel supplement G&A, Salaries and benefits - - 218 33 - Acquisition and integration costs G&A, Other 1,062 3,649 2,129 1,065 1,167 Legal fees - non-routine G&A, Other 51 190 - - - COVID-19 costs G&A, Other 129 72 159 104 - Clinical optimization and reorganization costs G&A, Other - 59 1,290 2,399 3,838 Personal Care divestiture G&A, Other - - - - 196 Legal settlement G&A, Other - (1,058) - - - Other Items Investment impairment Investment impairment - - 3,009 - - Interest component of certain items Interest Expense - 4,652 (207) - - Other (income) expense, net (2) Total Other (Expense) Income, Net 2,298 760 793 814 3,052 Total 11,450$ 23,609$ 15,861$ 7,441$ 9,987$ EPS Impact 0.26$ 0.56$ 0.36$ 0.19$ 0.22$ EBITDA Impact 11,450$ 18,957$ 16,068$ 7,441$ 9,987$ Exhibit 99.2

15 2023 Guidance Exhibit 99.2

16 AMEDISYS 2023 UPDATED GUIDANCE Updated Revenue, EBITDA and EPS guidance ranges for FY 2023 ($M except for EPS) Original Guidance Updated Guidance Adjusted Revenue $2,244 - $2,274 $2,254 - $2,274 Adjusted EBITDA $230 - $240 $235 - $245 Adjusted EPS $4.13 - $4.36 $4.14 - $4.36 Exhibit 99.2

17 Environmental, Social, Governance (E.S.G.) Considerations Exhibit 99.2

18 ENVIRONMENTAL, SOCIAL, GOVERNANCE (E.S.G.) CONSIDERATIONS Sustainable, high-quality, patient focused, home-based care model Environmental • Amedisys is dedicated to the sustainability of our business and the communities in which we serve • Environmental health has a strong correlation with physical health • A greener fleet – newer vehicles, in circulation for a shorter time, optimize fuel usage. Sophisticated scheduling practices reduce our clinicians’ driving time and fuel usage helping to minimize our carbon footprint • Virtual care centers, along with flexible working schedules and locations, have created fewer emissions Social • Amedisys strives to create an organizational culture and climate in which every individual is valued, all team members have a sense of belonging with one another and to the organization and feel empowered to do their best work • Provider of Home Health and Hospice services to frail, elderly patients in their most preferred care location – their homes • Highest quality Home Health company as measured by Quality of Patient Care Star scores (4.47 Stars) • The Amedisys Foundation was formed to provide support to our patients and employees. The Amedisys Foundation has two funds: the Patients’ Special Needs Fund and the Amedisys Employees 1st Fund. The Patients’ Special Needs Fund provides financial assistance to our home health, hospice and high acuity care patients during a difficult time Governance • Amedisys has a culture of compliance starting with oversight from the Board of Directors and cascading down to the care center level • Our Board of Directors operates several sub-committees including: • Quality of Care Committee • Compliance & Ethics Committee • Audit Committee • Compensation Committee • Nominating & Corporate Governance Committee • Nominating and Corporate Governance Committee oversees our strategy on corporate social responsibility, including evaluating the impact of Company practices on communities and individuals, and develops and recommends to our Board of Directors for approval matters relating to the Company’s corporate social responsibility and ESG considerations Exhibit 99.2

XML

Cover Document	May 03, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	May 03, 2023
Entity File Number	0-24260
Entity Registrant Name	AMEDISYS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-3131700
Entity Address, Street	3854 American Way
Entity Address, Suite	Suite A
Entity Address, City	Baton Rouge
Entity Address, State	LA
Entity Address, Postal Zip Code	70816
City Area Code	225
Local Phone Number	292-2031
Title of each class	Common Stock, par value $0.001 per share
Trading Symbol	AMED
Name of each exchange on which registered	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000896262
Amendment Flag	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false