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): July 26, 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 July 26, 2023, Amedisys, Inc. ("we," "us," "our," or "the Company") issued a press release (the “Press Release”) announcing its financial results for the three and six-month periods ended June 30, 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 second 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 July 26, 2023 announcing the Company's results for the three and six-month periods ended June 30, 2023 (furnished only)
99.2	Supplemental slides provided in connection with the second 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: July 26, 2023

EX-99.1

Exhibit 99.1

AMEDISYS REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS

BATON ROUGE, Louisiana (July 26, 2023) — Amedisys, Inc. (NASDAQ: AMED) today reported its financial results for the three and six-month periods ended June 30, 2023.

Three-Month Periods Ended June 30, 2023 and 2022

◦Net service revenue decreased $4.9 million to $553.0 million compared to $557.9 million in 2022.

◦Net loss attributable to Amedisys, Inc. of $80.3 million, which is inclusive of $125.5 million in costs associated with our merger transactions, compared to net income attributable to Amedisys, Inc. of $29.6 million in 2022.

◦Net loss attributable to Amedisys, Inc. per diluted share of $2.46 compared to net income attributable to Amedisys, Inc. per diluted share of $0.91 in 2022.

Adjusted Quarterly Results*

•Adjusted EBITDA of $74.6 million compared to $74.4 million in 2022.

•Adjusted net service revenue of $553.0 million compared to $566.3 million in 2022.

•Adjusted net income attributable to Amedisys, Inc. of $44.9 million compared to $48.0 million in 2022.

•Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.37 compared to $1.47 in 2022.

Six-Month Periods Ended June 30, 2023 and 2022

◦Net service revenue increased $6.3 million to $1,109.4 million compared to $1,103.1 million in 2022.

◦Net loss attributable to Amedisys, Inc. of $55.0 million, which is inclusive of $126.2 million in costs associated with our merger transactions, compared to net income attributable to Amedisys, Inc. of $61.3 million in 2022.

◦Net loss attributable to Amedisys, Inc. per diluted share of $1.69 compared to net income attributable to Amedisys, Inc. of $1.87 in 2022.

Adjusted Year to Date Results*

•Adjusted EBITDA of $132.5 million compared to $140.7 million in 2022.

•Adjusted net service revenue of $1,109.4 million compared to $1,111.5 million in 2022.

•Adjusted net income attributable to Amedisys, Inc. of $77.6 million compared to $88.1 million in 2022.

•Adjusted net income attributable to Amedisys, Inc. per diluted share of $2.38 compared to $2.69 in 2022.

* See pages 2 and 14 - 16 for the definition and reconciliations of non-GAAP financial measures to GAAP measures.

The supplemental slides provided in connection with the second quarter 2023 earnings release can be found on the Investor Relations page of our website. In light of the pending merger of the Company with UnitedHealth Group Incorporated, Amedisys will not conduct a quarterly earnings call to discuss the second quarter results and has decided to suspend guidance on 2023 financial performance.

1

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 (loss) income attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items; (2) adjusted net service revenue, defined as net service revenue excluding certain items; (3) adjusted net income attributable to Amedisys, Inc., defined as net (loss) income attributable to Amedisys, Inc. excluding certain items; and (4) adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net (loss) 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 18,500 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: disruption from the proposed merger with UnitedHealth Group with patient, payor, provider, referral source, 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 UnitedHealth Group 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 UnitedHealth Group 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 of Amedisys or to satisfy any other condition in a timely manner or at all; the costs related to the proposed transaction; the diversion of management time on merger-related issues; the risk that termination fees may be payable by the Company in the event that the merger agreement is terminated under certain circumstances; 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 STATEMENTS OF OPERATIONS

(Amounts in thousands, except per share data)

(Unaudited)

	For the Three-Month  Periods Ended June 30,				For the Six-Month Periods Ended June 30,
	2023		2022		2023		2022
Net service revenue	$	552,968	$	557,890	$	1,109,357	$	1,103,147
Operating expenses:
Cost of service, inclusive of depreciation	297,455		316,211		612,465		621,031
General and administrative expenses:
Salaries and benefits	125,504		127,758		251,843		251,238
Non-cash compensation	9,108		5,148		12,381		12,495
Depreciation and amortization	4,725		6,220		9,168		14,228
Other	78,381		54,912		143,326		108,552
Total operating expenses	515,173		510,249		1,029,183		1,007,544
Operating income	37,795		47,641		80,174		95,603
Other income (expense):
Interest income	742		36		1,148		49
Interest expense	(7,502)		(8,311)		(15,019)		(11,484)
Equity in earnings (loss) from equity method investments	7,991		659		8,114		(744)
Merger termination fee	(106,000)		—		(106,000)		—
Miscellaneous, net	4,743		331		4,061		664
Total other expense, net	(100,026)		(7,285)		(107,696)		(11,515)
(Loss) income before income taxes	(62,231)		40,356		(27,522)		84,088
Income tax expense	(18,250)		(11,319)		(28,050)		(23,338)
Net (loss) income	(80,481)		29,037		(55,572)		60,750
Net loss attributable to noncontrolling interests	206		542		543		500
Net (loss) income attributable to Amedisys, Inc.	$	(80,275)	$	29,579	$	(55,029)	$	61,250
Basic earnings per common share:
Net (loss) income attributable to Amedisys, Inc. common stockholders	$	(2.46)	$	0.91	$	(1.69)	$	1.88
Weighted average shares outstanding	32,579		32,522		32,568		32,538
Diluted earnings per common share:
Net (loss) income attributable to Amedisys, Inc. common stockholders	$	(2.46)	$	0.91	$	(1.69)	$	1.87
Weighted average shares outstanding	32,579		32,681		32,568		32,722

4

AMEDISYS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share data)

	June 30, 2023 (unaudited)		December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	95,377	$	40,540
Restricted cash	15,784		13,593
Patient accounts receivable	278,785		296,785
Prepaid expenses	13,774		11,628
Other current assets	22,824		26,415
Total current assets	426,544		388,961
Property and equipment, net of accumulated depreciation of $90,523 and $101,364	36,399		16,026
Operating lease right of use assets	85,142		102,856
Goodwill	1,244,679		1,287,399
Intangible assets, net of accumulated amortization of $17,714 and $14,604	104,744		101,167
Other assets	84,894		79,836
Total assets	$	1,982,402	$	1,976,245
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	38,557	$	43,735
Payroll and employee benefits	123,234		125,387
Accrued expenses	137,359		137,390
Termination fee paid by UnitedHealth Group	106,000		—
Current portion of long-term obligations	31,465		15,496
Current portion of operating lease liabilities	25,786		33,521
Total current liabilities	462,401		355,529
Long-term obligations, less current portion	369,896		419,420
Operating lease liabilities, less current portion	59,634		69,504
Deferred income tax liabilities	28,085		20,411
Other long-term obligations	1,629		4,808
Total liabilities	921,645		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; 38,030,397 and 37,891,186 shares issued; 32,608,325 and 32,511,465 shares outstanding	38		38
Additional paid-in capital	768,789		755,063
Treasury stock, at cost, 5,422,072 and 5,379,721 shares of common stock	(464,688)		(461,200)
Retained earnings	702,643		757,672
Total Amedisys, Inc. stockholders’ equity	1,006,782		1,051,573
Noncontrolling interests	53,975		55,000
Total equity	1,060,757		1,106,573
Total liabilities and equity	$	1,982,402	$	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 June 30,				For the Six-Month Periods Ended June 30,
	2023		2022		2023		2022
Cash Flows from Operating Activities:
Net (loss) income	$	(80,481)	$	29,037	$	(55,572)	$	60,750
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization (inclusive of depreciation included in cost of service)	6,199		6,220		11,893		14,228
Non-cash compensation	9,108		5,148		12,381		12,495
Amortization and impairment of operating lease right of use assets	8,349		12,367		16,971		22,463
Loss on disposal of property and equipment	426		526		356		531
Loss on personal care divestiture	—		—		2,186		—
Merger termination fee	106,000		—		106,000		—
Deferred income taxes	5,332		2,798		8,104		6,003
Equity in (earnings) loss from equity method investments	(7,991)		(659)		(8,114)		744
Amortization of deferred debt issuance costs	247		247		495		495
Return on equity method investments	966		718		2,753		2,428
Changes in operating assets and liabilities, net of impact of acquisitions:
Patient accounts receivable	15,338		(2,726)		7,862		(21,344)
Other current assets	5,817		(12,350)		1,689		(4,468)
Operating lease right of use assets	(1,019)		(913)		(1,937)		(1,662)
Other assets	355		(27)		244		220
Accounts payable	(1,274)		6,613		(4,731)		4,498
Accrued expenses	4,034		22,046		4,775		29,529
Other long-term obligations	(3,151)		(166)		(3,179)		(223)
Operating lease liabilities	(7,496)		(11,470)		(15,456)		(20,657)
Net cash provided by operating activities	60,759		57,409		86,720		106,030
Cash Flows from Investing Activities:
Proceeds from the sale of deferred compensation plan assets	6		6		25		28
Proceeds from the sale of property and equipment	100		—		100		37
Purchases of property and equipment	(1,394)		(1,880)		(2,744)		(2,782)
Investments in technology assets	(6,457)		(323)		(6,667)		(559)
Purchase of cost method investment	—		—		—		(15,000)
Proceeds from personal care divestiture	—		—		47,787		—
Acquisitions of businesses, net of cash acquired	—		(73,311)		(350)		(73,311)
Net cash (used in) provided by investing activities	(7,745)		(75,508)		38,151		(91,587)
Cash Flows from Financing Activities:
Proceeds from issuance of stock upon exercise of stock options	75		686		75		772
Proceeds from issuance of stock under employee stock purchase plan	938		906		1,754		1,891
Shares withheld to pay taxes on non-cash compensation	(2,180)		(80)		(3,488)		(4,762)
Noncontrolling interest contributions	376		300		376		952
Noncontrolling interest distributions	(427)		(303)		(712)		(975)
Proceeds from borrowings under revolving line of credit	15,000		298,500		23,000		298,500
Repayments of borrowings under revolving line of credit	(15,000)		(283,500)		(23,000)		(283,500)
Principal payments of long-term obligations	(5,680)		(3,204)		(60,993)		(6,975)
Purchase of company stock	—		(17,351)		—		(17,351)
Payment of accrued contingent consideration	(4,055)		—		(4,055)		—
Purchase of noncontrolling interest	—		—		(800)		—
Net cash used in financing activities	(10,953)		(4,046)		(67,843)		(11,448)
Net increase (decrease) in cash, cash equivalents and restricted cash	42,061		(22,145)		57,028		2,995
Cash, cash equivalents and restricted cash at beginning of period	69,100		70,909		54,133		45,769
Cash, cash equivalents and restricted cash at end of period	$	111,161	$	48,764	$	111,161	$	48,764

6

	For the Three-Month  Periods Ended June 30,				For the Six-Month  Periods Ended June 30,
	2023		2022		2023		2022
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	6,377	$	2,625	$	13,031	$	4,489
Cash paid for income taxes, net of refunds received	$	15,468	$	22,426	$	15,820	$	22,977
Cash paid for operating lease liabilities	$	8,516	$	12,383	$	17,394	$	22,319
Cash paid for finance lease liabilities	$	2,864	$	378	$	5,321	$	735
Supplemental Disclosures of Non-Cash Activity:
Right of use assets obtained in exchange for operating lease liabilities	$	7,719	$	15,387	$	14,802	$	26,590
Right of use assets obtained in exchange for finance lease liabilities	$	7,154	$	1,100	$	27,944	$	1,316
Reductions to right of use assets resulting from reductions to operating lease liabilities	$	14,994	$	2,464	$	15,135	$	2,763
Reductions to right of use assets resulting from reductions to finance lease liabilities	$	525	$	—	$	894	$	—
Accrued contingent consideration	$	—	$	19,195	$	—	$	19,195
Noncontrolling interest contribution	$	—	$	—	$	—	$	8,900
Days revenue outstanding (1)	43.4		46.8		43.4		46.8

(1) Our calculation of days revenue outstanding at June 30, 2023 and 2022 is derived by dividing our ending patient accounts receivable by our average daily patient revenue for the three-month periods ended June 30, 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 June 30,
	2023			2022
Financial Information(in millions) (6):
Medicare	$	219.8		$	222.0
Non-Medicare	130.0			119.9
Net service revenue	349.8			341.9
Cost of service, inclusive of depreciation	194.5			194.7
Gross margin	155.3			147.2
General and administrative expenses	90.2			88.8
Depreciation and amortization	1.2			1.5
Operating income	$	63.9		$	56.9
Same Store Growth(1):
Medicare revenue	(1		%)	(9		%)
Non-Medicare revenue	10		%	(3		%)
Total admissions	4		%	—		%
Total volume(2)	3		%	(2		%)
Key Statistical Data - Total(3)(6):
Admissions	97,453			94,063
Recertifications	45,808			45,821
Total volume	143,261			139,884
Medicare completed episodes	74,848			78,321
Average Medicare revenue per completed episode(4)	$	3,005		$	3,051
Medicare visits per completed episode(5)	12.5			13.2
Visiting clinician cost per visit	$	99.81		$	97.68
Clinical manager cost per visit	11.14			10.77
Total cost per visit	$	110.95		$	108.45
Visits	1,752,449			1,795,611

8

	For the Six-Month Periods Ended June 30,
	2023			2022
Financial Information(in millions) (6):
Medicare	$	435.2		$	446.1
Non-Medicare	257.9			231.5
Net service revenue	693.1			677.6
Cost of service, inclusive of depreciation	391.5			379.9
Gross margin	301.6			297.7
General and administrative expenses	179.3			172.0
Depreciation and amortization	2.3			2.4
Operating income	$	120.0		$	123.3
Same Store Growth(1):
Medicare revenue	(4		%)	(4		%)
Non-Medicare revenue	11		%	—		%
Total admissions	6		%	1		%
Total volume(2)	4		%	(1		%)
Key Statistical Data - Total(3)(6):
Admissions	199,416			185,827
Recertifications	89,133			88,677
Total volume	288,549			274,504
Medicare completed episodes	148,411			152,764
Average Medicare revenue per completed episode(4)	$	2,990		$	3,032
Medicare visits per completed episode(5)	12.4			13.1
Visiting clinician cost per visit	$	99.83		$	97.41
Clinical manager cost per visit	11.13			10.77
Total cost per visit	$	110.96		$	108.18
Visits	3,527,655			3,511,822

(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 at 2% and 1% for the three-month periods ended March 31, 2022 and June 30, 2022, respectively, and the reinstatement of sequestration at 2% for the three and six-month period ended June 30, 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.

9

Segment Information - Hospice

	For the Three-Month Periods Ended June 30,
	2023			2022
Financial Information(in millions):
Medicare	$	188.2		$	187.5
Non-Medicare	11.0			10.9
Net service revenue	199.2			198.4
Cost of service, inclusive of depreciation	98.8			107.4
Gross margin	100.4			91.0
General and administrative expenses	47.9			51.6
Depreciation and amortization	0.7			0.6
Operating income	$	51.8		$	38.8
Same Store Growth(1):
Medicare revenue	—		%	—		%
Hospice admissions	(6		%)	6		%
Average daily census	(2		%)	—		%
Key Statistical Data - Total(2):
Hospice admissions	12,395			13,359
Average daily census	12,918			13,249
Revenue per day, net	$	169.47		$	164.55
Cost of service per day	$	84.03		$	89.05
Average discharge length of stay	90			87

	For the Six-Month Periods Ended June 30,
	2023			2022
Financial Information(in millions):
Medicare	$	370.9		$	370.0
Non-Medicare	21.7			21.4
Net service revenue	392.6			391.4
Cost of service, inclusive of depreciation	200.2			213.8
Gross margin	192.4			177.6
General and administrative expenses	95.8			102.9
Depreciation and amortization	1.3			1.3
Operating income	$	95.3		$	73.4
Same Store Growth(1):
Medicare revenue	—		%	—		%
Hospice admissions	(6		%)	4		%
Average daily census	(1		%)	(1		%)
Key Statistical Data - Total(2):
Hospice admissions	25,393			27,245
Average daily census	12,825			13,086
Revenue per day, net	$	169.15		$	165.28
Cost of service per day	$	86.24		$	90.24
Average discharge length of stay	90			88

(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.

10

Segment Information - Personal Care (1)

	For the Three-Month Periods Ended June 30,
	2023		2022
Financial Information(in millions):
Medicare	$	—	$	—
Non-Medicare	—		14.9
Net service revenue	—		14.9
Cost of service, inclusive of depreciation	—		11.4
Gross margin	—		3.5
General and administrative expenses	—		2.3
Depreciation and amortization	—		—
Operating income	$	—	$	1.2
Key Statistical Data - Total:
Billable hours	—		472,523
Clients served	—		7,759
Shifts	—		201,996
Revenue per hour	$	—	$	31.59
Revenue per shift	$	—	$	73.89
Hours per shift	—		2.3

	For the Six-Month Periods Ended June 30,
	2023		2022
Financial Information(in millions):
Medicare	$	—	$	—
Non-Medicare	15.0		28.9
Net service revenue	15.0		28.9
Cost of service, inclusive of depreciation	11.1		22.2
Gross margin	3.9		6.7
General and administrative expenses	2.3		4.5
Depreciation and amortization	—		0.1
Operating income	$	1.6	$	2.1
Key Statistical Data - Total:
Billable hours	440,464		923,555
Clients served	7,892		8,591
Shifts	191,379		395,738
Revenue per hour	$	33.97	$	31.27
Revenue per shift	$	78.19	$	72.99
Hours per shift	2.3		2.3

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

11

Segment Information - High Acuity Care

	For the Three-Month Periods Ended June 30,
	2023		2022
Financial Information(in millions) (1):
Medicare	$	—	$	—
Non-Medicare	4.0		2.7
Net service revenue	4.0		2.7
Cost of service, inclusive of depreciation	4.2		2.7
Gross margin	(0.2)		—
General and administrative expenses	5.3		5.2
Depreciation and amortization	0.8		0.8
Operating loss	$	(6.3)	$	(6.0)
Key Statistical Data - Total:
Full risk admissions	186		104
Limited risk admissions	348		241
Total admissions	534		345
Full risk revenue per episode	$	9,303	$	11,278
Limited risk revenue per episode	$	6,098	$	5,316
Number of admitting joint venture markets	11		9

	For the Six-Month Periods Ended June 30,
	2023		2022
Financial Information(in millions) (1):
Medicare	$	—	$	—
Non-Medicare	8.7		5.2
Net service revenue	8.7		5.2
Cost of service, inclusive of depreciation	9.7		5.1
Gross margin	(1.0)		0.1
General and administrative expenses	9.7		9.5
Depreciation and amortization	1.6		1.6
Operating loss	$	(12.3)	$	(11.0)
Key Statistical Data - Total:
Full risk admissions	344		210
Limited risk admissions	807		468
Total admissions	1,151		678
Full risk revenue per episode	$	10,236	$	10,672
Limited risk revenue per episode	$	5,878	$	5,541
Number of admitting joint venture markets	11		9

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

12

Segment Information - Corporate

	For the Three-Month Periods Ended June 30,
	2023		2022
Financial Information(in millions) (1):
General and administrative expenses	$	69.6	$	40.0
Depreciation and amortization	2.0		3.3
Total operating expenses	$	71.6	$	43.3

	For the Six-Month Periods Ended June 30,
	2023		2022
Financial Information(in millions) (1):
General and administrative expenses	$	120.4	$	83.4
Depreciation and amortization	4.0		8.8
Total operating expenses	$	124.4	$	92.2

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

13

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 June 30,				For the Six-Month Periods Ended June 30,
	2023		2022		2023		2022
Net (loss) income attributable to Amedisys, Inc.	$	(80,275)	$	29,579	$	(55,029)	$	61,250
Add:
Income tax expense	18,250		11,319		28,050		23,338
Interest expense, net	6,760		8,275		13,871		11,435
Depreciation and amortization	6,199		6,220		11,893		14,228
Certain items(1)	123,704		23,609		133,691		35,059
Interest component of certain items(1)	—		(4,652)		—		(4,652)
Adjusted EBITDA(2)(6)	$	74,638	$	74,350	$	132,476	$	140,658

Adjusted Net Service Revenue Reconciliation:

	For the Three-Month Periods Ended June 30,				For the Six-Month Periods Ended June 30,
	2023		2022		2023		2022
Net service revenue	$	552,968	$	557,890	$	1,109,357	$	1,103,147
Add:
Certain items(1)	—		8,374		—		8,374
Adjusted net service revenue(3) (6)	$	552,968	$	566,264	$	1,109,357	$	1,111,521

Adjusted Net Income Attributable to Amedisys, Inc Reconciliation:

	For the Three-Month Periods Ended June 30,				For the Six-Month Periods Ended June 30,
	2023		2022		2023		2022
Net (loss) income attributable to Amedisys, Inc.	$	(80,275)	$	29,579	$	(55,029)	$	61,250
Add:
Certain items(1)	125,153		18,373		132,642		26,847
Adjusted net income attributable to Amedisys, Inc.(4)(6)	$	44,878	$	47,952	$	77,613	$	88,097

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

	For the Three-Month Periods Ended June 30,				For the Six-Month Periods Ended June 30,
	2023		2022		2023		2022
Net (loss) income attributable to Amedisys, Inc. common stockholders per diluted share	$	(2.46)	$	0.91	$	(1.69)	$	1.87
Add:
Certain items(1)	3.83		0.56		4.06		0.82
Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share(5)(6)	$	1.37	$	1.47	$	2.38	$	2.69

14

(1)    The following details the certain items for the three and six-month periods ended June 30, 2023 and 2022:

Certain Items (in thousands):

	For the Three-Month Periods Ended June 30, 2023		For the Six-Month Periods Ended June 30, 2023
	(Income) Expense		(Income) Expense
Certain Items Impacting Cost of Service, Inclusive of Depreciation:
Clinical optimization and reorganization costs	$	—	$	114
Certain Items Impacting General and Administrative Expenses:
Acquisition and integration costs	1,101		2,768
Executive Board of Directors/CEO transition award	3,435		4,185
Merger-related legal and professional fees	19,451		20,171
Clinical optimization and reorganization costs	567		3,737
Personal care divestiture	11		525
Certain Items Impacting Total Other Income (Expense):
Other (income) expense, net (includes $106,000 merger termination fee)	99,139		102,191
Total	$	123,704	$	133,691
Net of tax	$	125,153	$	132,642
Diluted EPS	$	3.83	$	4.06

	For the Three-Month Periods Ended June 30, 2022		For the Six-Month Periods Ended June 30, 2022
	(Income) Expense		(Income) Expense
Certain Items Impacting Net Service Revenue:
Contingency accrual	$	8,374	$	8,374
Certain Items Impacting Cost of Service:
COVID-19 costs	1,803		5,536
Clinical optimization and reorganization costs	195		195
Fuel supplement	1,016		1,353
Integration costs	1,401		1,401
Certain Items Impacting General and Administrative Expenses:
Acquisition and integration costs	5,323		6,701
COVID-19 costs	84		237
Executive Board of Directors/CEO transition award	—		3,500
Legal fees - non-routine	190		241
Clinical optimization and reorganization costs	869		869
Legal settlement	(1,058)		(1,058)
Certain Items Impacting Total Other Income (Expense):
Interest component of certain items	4,652		4,652
Other (income) expense, net	760		3,058
Total	$	23,609	$	35,059
Net of tax	$	18,373	$	26,847
Diluted EPS	$	0.56	$	0.82

(2) Adjusted EBITDA is defined as net (loss) 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 service revenue is defined as net service revenue excluding certain items as described in footnote 1.

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

(5)    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.

(6)    Adjusted EBITDA, adjusted net service revenue, 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

15

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.

16

EX-99.2

1 Amedisys Second Quarter 2023 Earnings Release Supplemental Slides July 26th, 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

3 OUR KEY AREAS OF FOCUS Strategic areas of focus and progress made during Q2’23 • Home Health*: Total same store admissions +4% • Hospice: Total same store admissions -6%, ADC -2% • High Acuity Care: Admissions +55% over prior year 1 Organic Growth • Quality: Amedisys Oct’23 preview STARS score of 4.44 • 99% of care centers at 4+ Stars based on Oct’23 preview • 42 Amedisys care centers rated at 5 Stars in the Oct’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. 47.7% in 2Q’22) • Current PTA Ratio: 54.2% (vs. 53.4% in 2Q’22) 4 Capacity and Productivity • Pending merger with UnitedHealth Group Inc. 5 M&A 2 Recruiting / Retention • Targeting industry leading employee retention amongst all employee categories • Q2’23 Voluntary Turnover 18.8% *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) • Proposed Home Health industry rule – industry estimated impact -2.2% decrease (effective 1/1/24) 6 Regulatory

4 HIGHLIGHTS AND SUMMARY FINANCIAL RESULTS (ADJUSTED): 2Q 2023(1) Home Health total same store admissions +4%; Hospice same store average daily census -2%; EBITDA margin impacted by hospice rate increase and clinical optimization and reorganization initiatives partially offset by the return of sequestration, a shift in home health mix and wage inflation 1. The financial results for the three-month periods ended June 30, 2022 and June 30, 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 reinstatement of sequestration at 1% for the three-month period ended June 30, 2022 and at 2% for the three-month period ended June 30, 2023. Growth Metrics: • Total Admissions: 534 • Number of admitting JV markets: 11 Other Statistics: • Patient Satisfaction: 87% High Acuity Care Adjusted Financial Results • Divested personal care business on 3/31/2023 Personal Care Same Store Volume (3): • Admissions: -6% • ADC: -2% Other Statistics: • Revenue per Day(5): $169.47 (+3.0%) • Cost per day: $83.67 (-5.1%) HospiceHome Health Same Store (2)(3) : • Total Admissions: +4% • Total Volume: +3% Other Statistics: • Revenue per Episode(5): $3,005 (-1.4%) • Visiting Clinician Cost per Visit: $99.21 (+3.6%) • Medicare VPE decreased 0.7 (-5.3%) Amedisys Consolidated • Revenue: -2.3% (+0.3% excluding Personal Care) • EBITDA: $75M • EBITDA Margin: 13.5% • EPS: $1.37 Amedisys Consolidated Amedisys Consolidated Balance Sheet & Cash Flow • Net debt: $293.2M • Net Leverage ratio: 1.2x • Revolver availability: $519.2M • CFFO: $60.7M • Free cash flow (4): $54.1M • DSO: 43.4 (vs. Q2’22 of 46.8 and down 2.7 days since Q4) $ in Millions, except EPS 2Q22 2Q23 Home Health 350.3$ 349.8$ Hospice 198.4 199.2 Personal Care 14.9 - High Acuity Care 2.7 4.0 Total Revenue 566.3$ 553.0$ Gross Margin % 44.9% 46.5% Adjusted EBITDA 74.4$ 74.6$ 13.1% 13.5% Adjusted EPS 1.47$ 1.37$ Free cash flow(4) 52.7$ 54.1$

5 62.9%12.1% 25.0% Home Health Revenue Medicare FFS Private Episodic Per Visit 63.3% 36.0% 0.7% Amedisys Consolidated Revenue Home Health Hospice 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: 347 care centers; 34 states & D.C. • Hospice: 165 care centers; 31 states • Personal Care: We divested our personal care business on March 31, 2023. • High Acuity Care: 10 admitting joint ventures, which operate in 11 markets; 9 states; 35 referring hospitals • Total AMED: 522 care centers/joint ventures; 37 states and D.C. OUR REVENUE SOURCES: 2Q’23

6 HOME HEALTH AND HOSPICE SEGMENT (ADJUSTED) – Q2 2023(1) • Revenue per Episode down 1.4% due to the reinstatement of sequestration at 2% (vs 1% in 2Q’22). Reimbursement is flat year over year. • Y/Y Total CPV up $3.83 (+3.6%) primarily due to raises, wage inflation, an increase in new hire pay, higher contractor costs (COVID-related rate increases are no longer classified as an adjusting item) and visit mix. • Cost per episode down 1.9% (Medicare) Home Health Highlights • Net revenue per day +3.0%; +3.8% Hospice rate update effective 10/1/2022 was offset by the reinstatement of sequestration at 2% (vs 1% in 2Q’22). • Total ADC impacted by 2022 care center closures (120 ADC impact) • Cost per day down $4.54 (-5.1%) primarily due to clinical optimization and reorganization initiatives and a new pharmacy contract partially offset by planned wage increases. Hospice Highlights 1. The financial results for the three-month periods ended June 30, 2022 and June 30, 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 reinstatement of sequestration at 1% for the three-month period ended June 30, 2022 and at 2% for the three-month period ended June 30, 2023. 6. Prior year amounts have been recast to conform to the current year presentation. $ in Millions 2Q22(6) 2Q23 Medicare 230.4$ 219.8$ Non-Medicare 119.9 130.0 Home Health Revenue $350.3 $349.8 Gross Margin % 45.4% 44.7% Pre-Corporate EBITDA(2) $70.7 $66.7 20.2% 19.1% Operating Statistics Same Store Growth(3)(4) Total admissions 0% 4% Total volume -2% 3% Medicare revenue per episode(5) $3,048 $3,005 Medicare recert rate 33.6% 33.0% Total cost per visit $106.52 $110.35 HOME HEALTH $ in Millions 2Q22 2Q23 Medicare 187.5$ 188.2$ Non-Medicare 10.9 11.0 Hospice Revenue $198.4 $199.2 Gross Margin % 46.4% 50.6% Pre-Corporate EBITDA(2) $41.8 $53.5 21.1% 26.8% Operating Statistics Admit growth - same store(3)(4) 6% -6% ADC growth - same store(3)(4) 0% -2% ADC 13,249 12,918 Avg. discharge length of stay 87 90 Revenue per day (net)(5) $164.55 $169.47 Cost per day $88.21 $83.67 HOSPICE

7 $ in Millions 2Q22 3Q22 4Q22 1Q23 2Q23 Home Health Segment - Total 88.7 87.7 89.9 89.0 90.1 % of HH Revenue 25.5% 25.9% 26.2% 25.9% 25.8% Hospice Segment - Total 50.8 48.6 50.8 47.9 47.9 % of HSP Revenue 25.6% 24.4% 25.7% 24.8% 24.0% Personal Care Segment - Total 2.3 2.3 2.4 2.2 - % of PC Revenue 15.2% 14.0% 14.9% 14.9% - High Acuity Care Segment - Total 5.1 5.2 5.1 4.4 5.2 % of HAC Revenue 116.2% 95.0% 87.8% 94.6% 131.1% Total Corporate Expenses 35.5 38.3 40.4 44.2 45.2 % of Total Revenue 6.3% 6.9% 7.2% 7.9% 8.2% Total 182.4 182.1 188.6 187.7 188.4 % of Total Revenue 32.2% 32.6% 33.6% 33.7% 34.1% GENERAL & ADMINISTRATIVE EXPENSES – ADJUSTED (1,2,3) Notes: • Year over year total G&A as a percentage of revenue increased 190 basis points ($6 million) • Increase in total G&A is primarily due to a favorable legal settlement recorded in prior year, planned wage increases, the acceleration of our annual LTI awards from June to May, higher incentive compensation costs and a change in the presentation of gains on the sale of fleet vehicles partially offset by clinical optimization and reorganization initiatives, lower staffing levels and lower travel/training spend • Total G&A increased ~$1 million sequentially 1. The financial results for the three-month periods ended June 30, 2022, September 30, 2022, December 31, 2022, March 31, 2023 and June 30, 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 raises and incentive compensation costs 32.2% 32.6% 33.6% 33.7% 34.1% 31.0% 33.0% 35.0% 2Q22 3Q22 4Q22 1Q23 2Q23 Total G&A as a Percent of Revenue G&A as a Percent of Revenue 2Q22 3Q22 4Q22 1Q23 2Q23 Salary and Benefits 25.3 23.8 25.5 26.3 26.5 Other 7.7 13.2 12.5 15.5 15.1 Corp. G&A Subtotal 33.0 37.0 38.0 41.8 41.6 Non-cash comp 2.5 1.3 2.4 2.4 3.6 Adjusted Corporate G&A 35.5 38.3 40.4 44.2 45.2

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. Total CPV down slightly sequentially due to lower contractor utilization. *Note: Direct comparison with industry competitors CPV calculation ** Note: In 2Q’22, the addback of COVID costs reduced Visiting Clinician CPV by $0.80. Accordingly, our YOY increase is $2.64 or 2.7% $25.00 $50.00 $75.00 $100.00 2Q22 1Q23 2Q23 Cost Per Visit (CPV) Salaries Contractors Benefits Transportation $95.77 $99.47 $99.21 Components 2Q’22(1) 1Q’23 2Q’23 YoY Variance Detail Initiatives Salaries $70.17 $72.79 $73.35 $3.18 YoY increase due to planned wage increases, wage inflation, an increase in new hire pay and visit mix Sequential increase due to higher new hire pay and wage inflation Staffing mix optimization, productivity and scheduling improvement initiatives in place to help overcome salary increases Contractors $4.66 $6.50 $5.71 $1.05 YoY variance due to an increase in utilization and higher rates. Prior year benefited from COVID add-backs totaling $0.70 Sequential variance due to a decrease in utilization and lower rates Focused efforts on filling positions with full-time clinicians Benefits $13.46 $12.95 $13.10 ($0.36) YoY decrease due to lower health insurance and worker’s compensation expense Sequential increase due to the seasonality of health insurance claims Focus on cost containment and spend optimization with specific focus on high-cost claims Transportation & Supplies $7.48 $7.23 $7.05 ($0.43) YoY variances due to the capitalization of fleet vehicle leases in 1Q’23 *Visiting Clinician CPV $95.77 $99.47 $99.21 $3.44** Clinical Managers $10.75 $10.98 $11.14 $0.39 Fixed cost associated with non-visiting clinicians YoY and sequential variances due to impact of fixed costs on lower visit volumes Unit cost reduced as volume increases Total CPV $106.52 $110.45 $110.35 $3.83 1. Prior year amounts have been recast to conform to the current year presentation.

9 DRIVING TOP LINE GROWTH -2% 1% 1% 5% 3% 0% 5% 5% 8% 4% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 50,000 100,000 150,000 2Q22 3Q22 4Q22 1Q23 2Q23 Volume SS Volume Growth SS Admit Growth Home Health Growth Hospice Growth 0% 1% -2% -1% -2% -2.5% -0.5% 1.5% 12,500 12,750 13,000 13,250 13,500 2Q22 3Q22 4Q22 1Q23 2Q23 ADC SS ADC Growth **2022 Hospice care center closures impacted 2023 ADC by 120 and Admits by 124 *ADC grew 1.5% sequentially from 1Q23 to 2Q23

10 INDUSTRY LEADING QUALITY SCORES Quality of Patient Care (QPC) Patient Satisfaction (PS) • Amedisys maintains a 4-Star average in the Oct 2023 HHC Preview with 98% of our providers (representing 99% of care centers) at 4+ Stars and 75% of our providers (representing 81% of care centers) at 4.5+ Stars. •26 Amedisys providers (representing 42 care centers) rated at 5 Stars. Notes: (1) CMS did not provide QPC Star and PS performance releases in 2021 due to COVID-19 PHE. (2) Oct 2023 QPC Star Preview performance period = CY 2022. (3) Jul 2023 PS Release performance period = CY 2022. (4) QPC Star and PS Results for Amedisys Legacy providers only. (5) Only currently active care centers included in care center results. CMS Blind Period Metric Jan 23 Release Apr 23 Release Jul 23 Release Oct 23 Preview Quality of Patient Care 4.49 4.49 4.47 4.44 Entities at 4+ Stars 99% 99% 99% 98% 3.00 3.50 4.00 4.50 QPC Industry Performance Amedisys QPC Industry Avg QPC Top Competitor CMS Blind Period Metric Oct 22 Release Jan 23 Release Apr 23 Release Jul 23 Release Patient Satisfaction Star 3.60 3.57 3.65 3.76 Performance Over Industry +3% +1% +1% +2% 3.00 3.50 4.00 4.50 PS Industry Performance Amedisys PS Score PS Industry Avg PS Top Competitor CMS Blind Period

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

12 DEBT AND LIQUIDITY METRICS Net leverage ~1.2x 1. Net debt defined as total debt outstanding ($404.4M) less cash ($111.2M). 2. Leverage ratio (net) is defined as net debt divided by last twelve months adjusted EBITDA ($253.9M). 3. Liquidity defined as the sum of cash balance and available revolving line of credit. Outstanding Revolver - Outstanding Term Loan 380.3 Promissory Notes 0.2 Finance Leases 23.9 Total Debt Outstanding 404.4 Less: Deferred Debt Issuance Costs (3.0) Total Debt - Balance Sheet 401.4 Total Debt Outstanding 404.4 Less Cash (111.2) Net Debt (1) 293.2 Leverage Ratio (net) (2) 1.2 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 111.2 Total Liquidity (3) 630.4 As of: 6/30/23 Credit Facility Outstanding Debt As of: 6/30/23

13 CASH FLOW STATEMENT HIGHLIGHTS (1) Total cash flow from operations for Q2-23 of $61M is net of ~$10M in payments for merger-related legal and professional fees. 1. Free cash flow defined as cash flow from operations less routine capital expenditures and required debt repayments. $ in Millions 2Q22 3Q22 4Q22 1Q23 2Q23 GAAP net income (loss) 29.0 25.4 31 .5 24.9 (80.5) Changes in working capital 1 3 .6 (67 .3) 6.9 (1 4.3) 23 .9 Depreciation and amortization 6.2 5.5 5.2 5.7 6.2 Non-cash compensation 5.1 3 .5 0.6 3 .3 9.1 Deferred income taxes 2.8 1 3 .0 4.3 2 .8 5.3 Merger termination fee - - - - 1 06.0 Other 0.7 6.3 (7 .6) 3 .6 (9.3) Cash flow from operations 57.4 (13.6) 40.9 26.0 60.7 Capital expenditures - routine (1 .5) (1 .5) (1 .5) (1 .0) (0.9) Required debt repay ments (3.2) (3 .2) (3 .2) (5.3) (5.7 ) Free cash flow 52.7 (18.3) 36.2 19.7 54.1 Capital Deployment Acquisitions (7 3.3) 1 .4 - - - Share Repurchases (1 7 .4) - - - -

14 INCOME STATEMENT ADJUSTMENTS (1) 1. The financial results for the three-month periods ended June 30, 2022, September 30, 2022, December 31, 2022, March 31, 2023 and June 30, 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 in 1Q23 and the $106.0 million Option Care termination fee in 2Q23. Q2 adjustments primarily related to costs associated with pending merger. Other (income) expense line item includes $106M termination fee paid to Option Care Health. $000s Income Statement Line Item 2Q22 3Q22 4Q22 1Q23 2Q23 Revenue Contingency accrual Net Serv ice Rev enue 8,37 4$ 931$ -$ -$ -$ Cost of Service Clinical optimization and reorganization costs Cost of Serv ice, Inclusiv e of Depreciation 1 95 1 ,1 54 33 1 1 4 - COVID-1 9 costs Cost of Serv ice, Inclusiv e of Depreciation 1 ,803 1 ,7 01 1 ,51 0 - - Integration costs Cost of Serv ice, Inclusiv e of Depreciation 1 ,401 31 1 - - - Fuel supplement Cost of Serv ice, Inclusiv e of Depreciation 1 ,01 6 1 ,962 261 - - G&A Acquisition and integration costs General and Administrativ e Expenses 5,323 3,1 54 1 ,443 1 ,667 1 ,1 01 Clinical optimization and reorganization costs General and Administrativ e Expenses 869 2 ,67 6 2 ,247 3 ,1 7 0 567 Merger-related legal and professional fees General and Administrativ e Expenses - - - 7 20 1 9,451 Personal Care div estiture General and Administrativ e Expenses - - - 51 4 1 1 COVID-1 9 costs General and Administrativ e Expenses 84 1 59 1 07 - - Executiv e Board of Directors/CEO transition awards General and Administrativ e Expenses - - - 7 50 3 ,435 Sev erance General and Administrativ e Expenses - - 993 - - Fuel supplement General and Administrativ e Expenses - 21 8 33 - - Legal fees - non-routine General and Administrativ e Expenses 1 90 - - - - Legal settlement General and Administrativ e Expenses (1 ,058) - - - - Other Items Inv estment impairment Inv estment impairment - 3 ,009 - - - Interest component of certain items Interest Expense 4,652 (207 ) - - - Other (income) expense, net (2) Total Other (Expense) Income, Net 7 60 7 93 81 4 3 ,052 99,1 39 Total 23,609$ 15,861$ 7 ,441$ 9,987$ 123,704$ EPS Impact 0.56$ 0.36$ 0.19$ 0.22$ 3.83$ EBITDA Impact 18,957$ 16,068$ 7 ,441$ 9,987$ 123,704$

15 Environmental, Social, Governance (E.S.G.) Considerations

16 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 (4.44 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

XML

Cover Document	Jul. 26, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 26, 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