8-K

U.S. 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 13, 2004

AMEDISYS, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware	0-24260	11-3131700
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

11100 Mead Road, Suite 300, Baton Rouge, LA 70816

(Address of principal executive offices including zip code)

(225) 292-2031

(Registrant’s telephone number, including area code)

ITEM 9. REGULATION FD DISCLOSURE

On May 13, 2004, representatives of Amedisys, Inc. (the “Company”) began making presentations at investor conferences using slides containing the information attached to this Current Report on Form 8-K as Exhibit 99.1. We are furnishing the text of these slides pursuant to the Securities and Exchange Commission’s Regulation FD. This information is furnished pursuant to Item 9 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1934. The Company expects to use these slides, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts and others during 2004.

By filing this report on Form 8-K and furnishing this information, we make no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD.

The information contained in the slides is summary information that is intended to be considered in the context of our Securities and Exchange Commission (“SEC”) filings and other public announcements that we may make, by press release or otherwise, from time to time. We undertake no duty or obligation to publicly update or revise the information contained in this report, although we may do so from time to time as our management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.

When included in this Current Report on Form 8-K, the words “expects”, “intends”, “anticipates”, “believes”, “estimates”, and analogous expressions are intended to identify forward-looking statements. Such statements inherently are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, general economic and business conditions, current cash flows and operating deficits, debt service needs, adverse changes in federal and state laws relating to the health care industry, competition, regulatory initiatives and compliance with governmental regulations, customer preferences and various other matters, many of which are beyond the Company’s control. These forward-looking statements speak only as of the date of the Current Report on Form 8-K. The Company expressly disclaims any obligation or undertaking to release publicly any updates or any changes in the Company’s expectations with regard thereto or any changes in events, conditions or circumstances on which any statement is based.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

(a) Financial Statements of Business Acquired.

Not applicable.

(b) Pro Forma Financial Information.

Not applicable.

(c) Exhibit No.

99.1 (i) Text of Investor Relations Slide Show in use beginning May 13, 2004

(i) Filed herewith.

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.
By:	/s/ Gregory H. Browne
	Gregory H. Browne Chief Financial Officer

DATE: May 19, 2004

EX-99.1

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Amedisys, Inc. (Nasdaq: AMED)

Forward-Looking Statements

Statements contained in this presentation which are not historical facts are forward-looking statements. These forward-looking statements and all other statements that may be contained in this presentation that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially than those forecasted. Such forward-looking statements are estimates reflecting the best judgment of Amedisys, Inc. management based upon currently available information. Certain factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by Amedisys, Inc. with the Securities and Exchange Commission, and forward-looking statements contained herein, or other public statements of Amedisys, Inc. or its management should be considered in light of those factors.

Investment Considerations

• industry growing reimbursement record strategy rapidly Medicare leverage focus growth acquisition and on Operating Large Focus Technology Regional Successful

• • • • •

Corporate Overview

Corporate Overview

• home the States in revenue of locations United of provider services 90% leading care southeastern over a nursing home is care 95 and provides Amedisys health Operates southern Medicare

• •

Corporate Overview Our Purpose

To assist patients in maintaining and improving their quality of life Our Strategy To offer low-cost, outcome-driven health care at home Our Mission To provide cost-efficient, quality health care services to the patients entrusted to our care

95 Locations

1

13

2 1

1 8

25

15

16

1

6

Largest Home Nursing Company in the South 6

Leadership Team

Executive Team

Board of Directors

William F. Borne Founder, Chief Executive Officer Gregory H. Browne Chief Financial Officer Larry R. Graham Chief Operating Officer

William F. Borne, Chairman Ronald A. LaBorde Jake L. Netterville David R. Pitts Peter R. Ricchiuti Donald A. Washburn

Market Opportunity

What is Home Health Care?

“Medical care delivered to a homebound patient by licensed professionals supervised by the patient’s physician.”

Home Care Nursing Services

Cardiac Diabetes Psychiatric Pain Management Hydration Malnutrition Neurology

Orthopedics Wound Care Cancer Post-Surgical Antibiotic Therapy Rehabilitation Respiratory

Home Care Growth Drivers

Lower cost Consumer preference Technology

Trend from facility to non-facility based care – – – Aging population

• •

Largest Industry Segment

Total Home Care: $45.3 Billion

6% 7%

10%

10% 67%

Infusion

Nursing

Source: CMS, 2001.

Hospice Respiratory

DME

Nursing

AMED GTIV NHHC PSAI Infusion OPTN Respiratory AHG LNCR ROHI Hospice ODSY VSTA

Medicare Overview Prospective Payment System (PPS)

• 2012 2002 in in billion system payments billion $21.9 $11.4 of management payment episode were episode per expenditures capitated on careful a based expenditures projects is is PPS PPS CMS CMS Requires

• • • •

Reimbursement Outlook

3.0% on October 1, 2003 Estimated 2.0-3.0% on January 1, 2005 Effective April 1, 2004 5.0% increase for rural patients for 12 months 0.8% reduction in inflation adjustment for 33 months

Inflation adjustments – – Impact of Prescription-Drug Bill – – –

• •

Strategic Focus

Growth Internal

• Q1 training 22% programs sales partnerships start-ups and admissions relationships hospital with Management area management Increased physician strategic service Disease field Enhance Develop Enlarge Expand Increase

• • • •

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Growth External

$20M in revenues

Compatible payor mix Underperforming agencies Reasonable pricing

Expand within geographic footprint Disciplined acquisitions Target hospital-based and multi-site agencies – – – Target size: $2M -

• • • •

Southern States Georgia Florida Alabama South Carolina Texas Texas Louisiana Texas Southern States

Columbia HCA Northwest Home Health Mid-Florida Home Health Seton Home Health Services HealthCalls Christus Spohn Home Health Baylor All Saints Home Care Metro Home Health St Luke’s Episcopal Tenet Home Health

November October November April June April August August November Mar/May

1998 2000 2001 2002 2003 2004

Successful Record of Acquisitions

Technology Drives Integration

• assessments indicators for quality analysis of system technology scheduling episode review HR

• Automatic time Centralized Web-based Scanning Real

• • • •

Financial Performance

Net Revenue Growth

Millions In

1 $200 2004 Management Guidance

1

$142 2003 $129 2002 $110 2001 $88 2000

$225 $200 $175 $150 $125 $100 $75 $50 $25 $0

Quarterly EPS Growth

$0.34 Q1 2004 $0.30 Q4 2003

22

0

$ Q3 2003 $0.15 Q2 2003 $0.12 Q1 2003 $0.40 $0.35 $0.30 $0.25 $0.20 $0.15 $0.10 $0.05 $0.00

Financial Performance

$47.30 $7.80 $0.34 2004 58.9% 16.5%

st

$31.10 $2.94 $0.12

Quarter Ended March 31 2003 58.9% 9.4%

Net Revenue Gross Margin EBITDA EBITDA Margin EPS Fully Diluted

In Millions except per share data

Earnings Guidance

• share share 2004 per per

• Quarter $0.32 2004 $1.33

• to Year to

• Second –$0.28 Fiscal –$1.25 •

Q1 2004 2003

2002

2001 $60 $50 $40 $30 $20 $10 $0

Strengthened Balance Sheet Millions In

Total Debt Stockholders’ Equity

Investment Considerations

Investment Considerations

• industry growing reimbursement record strategy rapidly Medicare leverage focus growth acquisition and on Operating Large Focus Technology Regional Successful

• • • • •

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Amedisys, Inc. (Nasdaq: AMED)

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