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): NOVEMBER 4, 2015

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.)

5959 S. Sherwood Forest Blvd., 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))

SECTION 2 — FINANCIAL INFORMATION

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On November 4, 2015, Amedisys, Inc. (“we,” “us,” “our” or the “Company”) issued a press release announcing our financial results for the three and nine-month periods ended September 30, 2015. 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, 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 supplemental slides which will be discussed during the Company’s earnings call at 12:00 p.m. ET on Thursday, November 5, 2015 is attached to this report as Exhibit 99.2 and incorporated herein by reference.

The information presented in Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of 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, or the Exchange Act.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

99.1	Press release dated November 4, 2015, announcing the Company’s financial results for the three and nine-month periods ended September 30, 2015 (furnished only)
99.2	Supplemental slides provided in connection with the third quarter 2015 earnings call of Amedisys, Inc. (furnished only)

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
	Senior Vice President of Accounting and Controller
	(Principal Accounting Officer)

DATE: November 4, 2015

Exhibit Index

Exhibit No.	Description
99.1	Press release dated November 4, 2015, announcing the Company’s financial results for the three and nine-month periods ended September 30, 2015 (furnished only)
99.2	Supplemental slides provided in connection with the third quarter 2015 earnings call of Amedisys, Inc. (furnished only)

EX-99.1

Exhibit 99.1

Contact:	Investor Contact:	Media Contact:
	Amedisys, Inc.	Amedisys, Inc.
	David Castille	Kendra Kimmons
	Managing Director, Treasury/Finance	Managing Director, Marketing & Communications
	(225) 299-3391	(225) 299-3720
	david.castille@amedisys.com	kendra.kimmons@amedisys.com

AMEDISYS REPORTS THIRD QUARTER FINANCIAL RESULTS

AMEDISYS TO HOST CONFERENCE CALL NOVEMBER 5, 2015 AT 12:00 P.M. ET

BATON ROUGE, Louisiana (November 4, 2015) — Amedisys, Inc. (NASDAQ: AMED), a leading home health and hospice company, today reported its financial results for the three and nine-month periods ended September 30, 2015.

Three-Month Periods Ended September 30, 2015 and 2014

• After adding back for the 2015 period, $5.1 million ($3.1 million, net of income tax ) or $0.09 per diluted share and after adding back for the 2014 period $1.0 million ($0.6 million, net of income tax) or $0.02 per diluted share for certain items*, our adjusted results from continuing operations were as follows:

• Net service revenue of $326.4 million compared to $300.3 million in 2014.

• Net income from continuing operations attributable to Amedisys, Inc. of $11.5 million compared to net income from continuing operations of $9.1 million in 2014. (Net income from continuing operations attributable to Amedisys, Inc. of $8.4 million compared to net income from continuing operations attributable to Amedisys, Inc. of $8.4 million in 2014 on a GAAP basis.)

• Net income from continuing operations attributable to Amedisys, Inc. per diluted share of $0.34 compared to net income from continuing operations attributable to Amedisys, Inc. of $0.28 per diluted share in 2014. (Net income from continuing operations attributable to Amedisys, Inc. per diluted share $0.25 compared to net income from continuing operations attributable to Amedisys Inc. per diluted share of $0.26 per diluted share in 2014 on a GAAP basis.)

• Earnings before interest, taxes, depreciation and amortization attributable to continuing operations (“EBITDA”) of $26.4 million compared to $23.8 million in 2014.

Nine-Month Periods Ended September 30, 2015 and 2014

• After adding back for the 2015 period, $85.6 million ($51.8 million, net of income tax ) or $1.57 per diluted share and for the 2014 period $17.9 million ($11.0 million, net of income tax) or $0.34 per diluted share for certain items*, our adjusted results from continuing operations were as follows:

• Net service revenue of $942.2 million compared to $904.0 million in 2014.

• Net income from continuing operations attributable to Amedisys, Inc. of $35.8 million compared to net income from continuing operations of $14.9 million in 2014. (Net loss from continuing operations attributable to Amedisys, Inc. of $15.9 million compared to net income from continuing operations attributable to Amedisys, Inc. of $3.9 million in 2014 on a GAAP basis.)

• Net income from continuing operations attributable to Amedisys, Inc. per diluted share of $1.09 compared to net income from continuing operations attributable to Amedisys, Inc. of $0.46 per diluted share in 2014. (Net loss from continuing operations attributable to Amedisys, Inc. per diluted share $0.48 compared to net income from continuing operations attributable to Amedisys Inc. per diluted share of $0.12 per diluted share in 2014 on a GAAP basis.)

• EBITDA of $84.4 million compared to $51.4 million in 2014.

Paul B. Kusserow, President and Chief Executive Officer stated, “We are encouraged by the company’s continued strong performance in the third quarter. Both segments achieved significant revenue growth and we have continued to make investments that will position us well to capitalize on future opportunities supporting our long-term strategic vision. I would like to thank our dedicated employees for their unwavering commitment to the patients we serve.”

We urge caution in considering the current trends disclosed in this press release. The home health and hospice industry is 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, 2014, and 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. We disclaim any obligations to update disclosed information on trends.

* See pages 10 & 11 for explanation of these certain items and the reconciliations of non-GAAP financial measures.

1

Earnings Call and Webcast Information

To participate on the conference call, please call a few minutes before 12:00 p.m. ET, Thursday, November 5, 2015 to either (877) 524-8416 (Toll free) or (412) 902-1028 (Toll). A replay of the conference call will be available through December 2, 2015 by dialing (877) 660-6853 (Toll free) or (201) 612-7415 (Toll) and entering conference ID #13622135.

A live webcast of the call will be accessible through our website on our Investor Relations section at the following web address: http://investors.amedisys.com.

Amedisys, Inc. (the “Company”) is headquartered in Baton Rouge, Louisiana and our common stock trades on the NASDAQ Global Select Market under the symbol “AMED”.

Additional information

Our company website address is www.amedisys.com. We use our website as a channel of distribution for important company information. Important information, including press releases, analyst 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. We also use our website to expedite public access to time-critical information regarding our company in advance of or in lieu of distributing a press release or a filing with the SEC disclosing the same information. Therefore, investors should look to the Investor Relations subpage of our website for important and time-critical information. 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.

Forward-Looking Statements

When included in this press release, words like “believes,” “belief,” “expects,” “plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,” “might,” “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: changes in Medicare and other medical payment levels, our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively, 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, competition in the home health industry, changes in the case mix of patients and payment methodologies, changes in estimates and judgments associated with critical accounting policies, our ability to maintain or establish new patient referral sources, our ability to attract and retain qualified personnel, changes in payments and covered services due to the economic downturn and deficit spending by Federal and State governments, future cost containment initiatives undertaken by third-party payors, our access to financing due to the volatility and disruption of the capital and credit markets, our ability to meet debt service requirements and comply with covenants in debt agreements, business disruptions due to natural disasters or acts of terrorism, our ability to integrate and manage our information systems, our ability to comply with requirements stipulated in our corporate integrity agreement and changes in law 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.

Non-GAAP Financial Measures

This press release includes the following non-GAAP financial measures as defined under SEC rules: EBITDA, defined as net income (loss) from continuing operations attributable to Amedisys, Inc. before provision for income taxes, net interest expense and depreciation and amortization, adjusted EBITDA, defined as EBITDA excluding certain other items, adjusted net income from continuing operations attributable to Amedisys, Inc., defined as net income (loss) from continuing operations attributable to Amedisys, Inc. excluding certain other items, and adjusted net income from continuing operations attributable to Amedisys, Inc. per diluted share, defined as net income (loss) from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share excluding certain other items. In accordance with SEC rules, we have provided herein a reconciliation of these non-GAAP financial measures to the most directly comparable measures under GAAP. Management believes that these are useful gauges of our performance and are common measures used in our industry to assess relative financial performance among companies.

2

AMEDISYS, INC. AND SUBSIDIARIES

SELECT CONSOLIDATED FINANCIAL STATEMENT DATA AND SUPPLEMENTAL INFORMATION

(Amounts in thousands, except share, per share data and statistical information)

(Unaudited)

Balance Sheet Information

	September 30, 2015			December 31, 2014
ASSETS
Current assets:
Cash and cash equivalents	$	57,051		$	8,032
Patient accounts receivable, net of allowance for doubtful accounts of $14,753 and $14,317		121,744			99,325
Prepaid expenses		10,402			8,493
Deferred income taxes		1,953			—
Other current assets		5,641			19,708
Assets held for sale		19,650			—
Total current assets		216,441			135,558
Property and equipment, net of accumulated depreciation of $140,363 and $146,438		41,485			137,455
Goodwill		211,109			205,587
Intangible assets, net of accumulated amortization of $25,379 and $25,374		33,150			33,193
Deferred income taxes		129,992			124,788
Other assets, net		34,259			33,161
Total assets	$	666,436		$	669,742
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable	$	24,226		$	16,056
Payroll and employee benefits		74,050			75,553
Accrued expenses		69,188			56,329
Current portion of long-term obligations		3,750			12,000
Current portion of deferred income taxes		—			2,385
Total current liabilities		171,214			162,323
Long-term obligations, less current portion		96,250			104,372
Other long-term obligations		4,998			5,285
Total liabilities		272,462			271,980
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; 34,726,207 and 34,569,526 shares issued; and 33,672,216 and 33,594,572 shares outstanding		35			35
Additional paid-in capital		495,827			481,762
Treasury stock at cost, 1,053,991 and 974,954 shares of common stock		(22,029	)		(19,860	)
Accumulated other comprehensive income		15			15
Retained earnings		(80,717	)		(64,785	)
Total Amedisys, Inc. stockholders’ equity		393,131			397,167
Noncontrolling interests		843			595
Total equity		393,974			397,762
Total liabilities and equity	$	666,436		$	669,742

3

Statement of Operations Information

	For the Three-Month Periods Ended September 30,						For the Nine-Month Periods Ended September 30,
	2015			2014			2015			2014
Net service revenue	$	326,450		$	300,281		$	942,174		$	904,026
Cost of service, excluding depreciation and amortization		186,772			170,159			533,432			519,686
General and administrative expenses:
Salaries and benefits		69,993			69,461			209,797			224,032
Non-cash compensation		3,060			1,697			7,637			3,197
Other		39,551			32,018			114,734			110,240
Provision for doubtful accounts		3,638			4,183			9,370			13,318
Depreciation and amortization		4,646			6,515			15,798			22,109
Asset impairment charge		2,075			—			77,268			2,208
Operating expenses		309,735			284,033			968,036			894,790
Operating income (loss)		16,715			16,248			(25,862	)		9,236
Other (expense) income:
Interest income		7			24			33			46
Interest expense		(4,936	)		(2,990	)		(9,778	)		(5,603	)
Equity in earnings from equity investments		1,924			563			8,701			2,234
Miscellaneous, net		1,330			110			3,962			544
Total other (expense) income, net		(1,675	)		(2,293	)		2,918			(2,779	)
Income (loss) before income taxes		15,040			13,955			(22,944	)		6,457
Income tax (expense) benefit		(6,465	)		(5,358	)		7,560			(2,483	)
Income (loss) from continuing operations		8,575			8,597			(15,384	)		3,974
Discontinued operations, net of tax		—			—			—			(216	)
Net income (loss)		8,575			8,597			(15,384	)		3,758
Net income attributable to noncontrolling interests		(135	)		(158	)		(548	)		(117	)
Net income (loss) attributable to Amedisys, Inc.	$	8,440		$	8,439		$	(15,932	)	$	3,641
Basic earnings per common share:
Income (loss) from continuing operations attributable to Amedisys, Inc. common stockholders	$	0.25		$	0.26		$	(0.48	)	$	0.12
Discontinued operations, net of tax		—			—			—			(0.01	)
Net income (loss) attributable to Amedisys, Inc. common stockholders	$	0.25		$	0.26		$	(0.48	)	$	0.11
Weighted average shares outstanding		33,128			32,468			32,957			32,194
Diluted earnings per common share:
Income (loss) from continuing operations attributable to Amedisys, Inc. common stockholders	$	0.25		$	0.26		$	(0.48	)	$	0.12
Discontinued operations, net of tax		—			—			—			(0.01	)
Net income (loss) attributable to Amedisys, Inc. common stockholders	$	0.25		$	0.26		$	(0.48	)	$	0.11
Weighted average shares outstanding		33,631			32,934			32,957			32,690
Amounts attributable to Amedisys, Inc. common stockholders:
Income (loss) from continuing operations	$	8,440		$	8,439		$	(15,932	)	$	3,857
Discontinued operations, net of tax		—			—			—			(216	)
Net income (loss)	$	8,440		$	8,439		$	(15,932	)	$	3,641

4

Cash Flow and Days Revenue Outstanding, Net Information

	For the Three-Month Periods Ended September 30,						For the Nine-Month Periods Ended September 30,
	2015			2014			2015			2014
Net cash provided by (used in) operating activities	$	30,704		$	25,342		$	87,741		$	(70,129	)
Net cash (used in) provided by investing activities		(8,037	)		230			(19,859	)		(9,162	)
Net cash provided (used in) by financing activities		1,183			(31,255	)		(18,863	)		67,530
Net increase (decrease) in cash and cash equivalents		23,850			(5,683	)		49,019			(11,761	)
Cash and cash equivalents at beginning of period		33,201			11,225			8,032			17,303
Cash and cash equivalents at end of period	$	57,051		$	5,542		$	57,051		$	5,542
Days revenue outstanding, net (1)		33.1			30.5			33.1			30.5

(1) Our calculation of days revenue outstanding, net at September 30, 2015 and 2014 is derived by dividing our ending patient accounts receivable (i.e., net of estimated revenue adjustments and allowance for doubtful accounts) by our average daily net patient revenue for the three-month period ended September 30, 2015 and 2014, respectively.

5

Supplemental Information - Home Health

	For the Three-Month Periods Ended September 30,
	2015			2014
Financial Information (in millions):
Medicare	$	190.2		$	185.4
Non-Medicare		63.2			51.8
Net service revenue		253.4			237.2
Cost of service		150.0			137.4
Gross margin		103.4			99.8
Other operating expenses		70.0			69.3
Operating income	$	33.4		$	30.5
Key Statistical Data:
Medicare:
Same Store Volume (2):
Revenue		3	%		5	%
Admissions		4	%		2	%
Recertifications		0	%		5	%
Total (3):
Admissions		44,434			42,770
Recertifications		25,420			25,407
Completed episodes		67,288			67,316
Visits		1,208,853			1,190,962
Average revenue per completed episode including sequestration (4)	$	2,821		$	2,777
Visits per completed episode (5)		17.5			17.3
Non-Medicare:
Same Store Volume (2):
Revenue		22	%		31	%
Admissions		21	%		26	%
Recertifications		15	%		24	%
Total (3):
Admissions		24,792			20,585
Recertifications		9,447			8,238
Visits		504,441			416,038
Total (3):
Cost per Visit	$	87.54		$	85.47
Visits		1,713,294			1,607,000

6

	For the Nine-Month Periods Ended September 30,
	2015			2014
Financial Information (in millions):
Medicare	$	565.8		$	565.5
Non-Medicare		176.8			151.9
Net service revenue		742.6			717.4
Cost of service		431.0			420.7
Gross margin		311.6			296.7
Other operating expenses		204.0			225.2
Operating income before impairment (1)	$	107.6		$	71.5
Key Statistical Data:
Medicare:
Same Store Volume (2):
Revenue		2	%		0	%
Admissions		2	%		0	%
Recertifications		(2	%)		0	%
Total (3):
Admissions		133,973			134,317
Recertifications		74,386			77,468
Completed episodes		200,301			205,939
Visits		3,580,751			3,620,779
Average revenue per completed episode including sequestration (4)	$	2,816		$	2,763
Visits per completed episode (5)		17.4			17.2
Non-Medicare:
Same Store Volume (2):
Revenue		19	%		17	%
Admissions		17	%		15	%
Recertifications		13	%		10	%
Total (3):
Admissions		71,733			62,596
Recertifications		26,072			23,746
Visits		1,424,595			1,218,659
Total (3):
Cost per Visit	$	86.10		$	86.92
Visits		5,005,346			4,839,438

(1) Operating income of $70.3 million on a GAAP basis for the nine-month period ended September 30, 2014.

(2) Same store Medicare and Non-Medicare revenue, admissions or recertifications volume is the percent increase (decrease) in our Medicare and Non-Medicare revenue, admissions or recertifications for the period as a percent of the Medicare and Non-Medicare revenue, admissions or recertifications of the prior period.

(3) Based on continuing operations for all periods presented.

(4) Average Medicare revenue per completed episode including sequestration is the average Medicare revenue earned for each Medicare completed episode of care which includes the impact of sequestration.

(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.

7

Supplemental Information - Hospice

	For the Three-Month Periods Ended September 30,
	2015			2014
Financial Information (in millions):
Medicare	$	68.6		$	59.0
Non-Medicare		4.4			4.1
Net service revenue		73.0			63.1
Cost of service		36.8			32.8
Gross margin		36.2			30.3
Other operating expenses		16.9			14.7
Operating income	$	19.3		$	15.6
Key Statistical Data:
Same Store Volume (2):
Medicare revenue		17	%		3	%
Non-Medicare revenue		14	%		15	%
Hospice admits		26	%		(3	%)
Average daily census		17	%		(3	%)
Total (3):
Hospice admits		4,962			4,002
Average daily census		5,346			4,608
Revenue per day	$	148.47		$	148.74
Cost of service per day	$	74.82		$	77.38
Average length of stay		92			100

	For the Nine-Month Periods Ended September 30,
	2015			2014
Financial Information (in millions):
Medicare	$	187.6		$	175.1
Non-Medicare		12.0			11.5
Net service revenue		199.6			186.6
Cost of service		102.4			99.0
Gross margin		97.2			87.6
Other operating expenses		48.2			47.4
Operating income before impairment (1)	$	49.0		$	40.2
Key Statistical Data:
Same Store Volume (2):
Medicare revenue		10	%		(2	%)
Non-Medicare revenue		11	%		6	%
Hospice admits		14	%		(4	%)
Average daily census		8	%		(4	%)
Total (3):
Hospice admits		14,239			12,947
Average daily census		4,947			4,668
Revenue per day	$	147.79		$	146.42
Cost of service per day	$	75.87		$	77.70
Average length of stay		90			100

(1) Operating income of $39.2 million on a GAAP basis for the nine-month period ended September 30, 2014.

(2) Same store Medicare and Non-Medicare revenue, Hospice admits or average daily census volume is the percent increase in our Medicare and Non-Medicare revenue, Hospice admits or average daily census for the period as a percent of the Medicare and Non-Medicare revenue, Hospice admits or average daily census of the prior period.

(3) Based on continuing operations for all periods presented.

8

Supplemental Information - Corporate

	For the Three-Month Periods Ended September 30,
	2015		2014
Financial Information (in millions):
Other operating expenses	$	30.8	$	26.0
Depreciation and amortization		3.1		3.9
Total before impairment (1)	$	33.9	$	29.9
	For the Nine-Month Periods Ended September 30,
	2015		2014
Financial Information (in millions):
Other operating expenses	$	94.3	$	86.8
Depreciation and amortization		10.8		13.5
Total before impairment (1)	$	105.1	$	100.3

(1) Total of $36.0 million on a GAAP basis for the three-month period ended September 30, 2015 (including $2.1 million asset impairment charge). Total of $182.4 million on a GAAP basis for the nine-month period ended September 30, 2015 (including $77.3 million asset impairment charge).

9

AMEDISYS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAPP FINANCIAL MEASURES TO GAAP FINANCIAL STATEMENTS

(Amounts in thousands)

(Unaudited)

Earnings From Continuing Operations Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) and Adjusted EBITDA

	For the Three-Month Periods Ended September 30,						For the Nine-Month Periods Ended September 30,
	2015			2014			2015			2014
Net income (loss) attributable to Amedisys, Inc.	$	8,440		$	8,439		$	(15,932	)	$	3,641
Less:
Discontinued operations, net of tax		—			—			—			(216	)
Net income (loss) from continuing operations attributable to Amedisys, Inc.		8,440			8,439			(15,932	)		3,857
Add:
Income tax expense (benefit)		6,465			5,358			(7,560	)		2,483
Interest expense, net		4,929			2,966			9,745			5,557
Depreciation and amortization		4,646			6,515			15,798			22,109
EBITDA (1)		24,480			23,278			2,051			34,006
Add:
Certain items (2)		5,100			1,003			85,567			17,887
Write off of deferred debt issuance costs/call premium payment (2)		(3,212	)		(488	)		(3,212	)		(488	)
Adjusted EBITDA (3)	$	26,368		$	23,793		$	84,406		$	51,405

Adjusted Net Income From Continuing Operations Attributable to Amedisys, Inc. Reconciliation:

	For the Three-Month Periods Ended September 30,				For the Nine-Month Periods Ended September 30,
	2015		2014		2015			2014
Net income (loss) attributable to Amedisys, Inc.	$	8,440	$	8,439	$	(15,932	)	$	3,641
Less:
Discontinued operations, net of tax		—		—		—			(216	)
Net income (loss) from continuing operations attributable to Amedisys, Inc.		8,440		8,439		(15,932	)		3,857
Add:
Certain items (2)		3,086		618		51,768			11,018
Adjusted net income from continuing operations attributable to Amedisys, Inc. (4)	$	11,526	$	9,057	$	35,836		$	14,875

Adjusted Net Income From Continuing Operations Attributable to Amedisys, Inc. per Diluted Share:

	For the Three-Month Periods Ended September 30,				For the Nine-Month Periods Ended September 30,
	2015		2014		2015			2014
Net income (loss) attributable to Amedisys, Inc. common stockholders per diluted share	$	0.25	$	0.26	$	(0.48	)	$	0.11
Less:
Discontinued operations, net of tax		—		—		—			(0.01	)
Net income (loss) from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share		0.25		0.26		(0.48	)		0.12
Add:
Certain items (2)		0.09		0.02		1.57			0.34
Adjusted net income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share (5)	$	0.34	$	0.28	$	1.09		$	0.46

(1) EBITDA is defined as net income (loss) from continuing operations attributable to Amedisys, Inc. before provision for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

10

(2) The following details the certain other items for the three and nine-month periods ended September 30, 2015 and 2014:

	For the Three-Month Period Ended September 30, 2015									For the Nine-Month Period Ended September 30, 2015
	(Income) Expense			Net			Diluted EPS			(Income) Expense			Net			Diluted EPS
Life insurance proceeds	$	—		$	—		$	—		$	(1,044	)	$	(632	)	$	(0.02	)
Partial claim recovery		—			—			—			(1,125	)		(681	)		(0.02	)
Legal settlement		(1,014	)		(613	)		(0.02	)		(1,014	)		(613	)		(0.02	)
Inventory and Data Security Reporting		—			—			—			2,121			1,283			0.04
Wage and Hour litigation		—			—			—			8,000			4,840			0.15
Unrealized gain on investment		(1,379	)		(835	)		(0.03	)		(6,736	)		(4,076	)		(0.12	)
Asset impairment charge		2,075			1,255			0.04			77,268			46,747			1.42
Legal fees - Department of Justice matter		286			173			—			286			173			—
HCHB implementation		2,048			1,239			0.04			2,048			1,239			0.04
Write off of deferred debt issuance costs/call premium payment		3,212			1,944			0.06			3,212			1,944			0.06
Gain on sale of care centers		(184	)		(111	)		—			(184	)		(111	)		—
Exit and restructuring activity costs		56			34			—			2,735			1,655			0.05
Total	$	5,100		$	3,086		$	0.09		$	85,567		$	51,768		$	1.57
	For the Three-Month Period Ended September 30, 2014									For the Nine-Month Period Ended September 30, 2014
	(Income) Expense			Net			Diluted EPS			(Income) Expense			Net			Diluted EPS
Asset impairment charge	$	—		$	—		$	—		$	2,208		$	1,360		$	0.04
Exit and restructuring activity costs		—			—			—			9,954			6,132			0.19
Relator fees		—			—			—			3,938			2,426			0.07
OIG Self-Disclosure		—			—			—			1,450			893			0.03
Software write-off		—			—			—			1,465			902			0.03
Gain on sale of care centers		—			—			—			(2,131	)		(1,313	)		(0.04	)
Write off of deferred debt issuance costs		488			301			0.01			488			301			0.01
Loss on disposal of in-patient facility		515			317			0.01			515			317			0.01
Total	$	1,003		$	618		$	0.02		$	17,887		$	11,018		$	0.34

(3) Adjusted EBITDA is defined as net income (loss) from continuing operations attributable to Amedisys, Inc. before provision for income taxes, net interest expense, depreciation and amortization excluding certain other items as described in footnote 2. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of adjusted EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

(4) Adjusted net income from continuing operations attributable to Amedisys, Inc. is defined as net income (loss) from continuing operations attributable to Amedisys, Inc. excluding certain other items as described in footnote 2. Adjusted net income from continuing operations attributable to Amedisys, Inc. should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of adjusted net income from continuing operations attributable to Amedisys, Inc. may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP measure in the same manner.

(5) Adjusted net income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted income (loss) from continuing operations per share excluding the earnings per share effect of certain other items as described in footnote 2. Adjusted net income from continuing operations 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, cash flow from operating activities, or other traditional indicators or operating performance. This calculation of adjusted net income from continuing operations attributable to Amedisys, Inc. common stockholders per diluted share may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

11

EX-99.2

Third Quarter 2015 Earnings Call November 5, 2015 Supplemental Slides Exhibit 99.2

Forward-looking Statements 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 and clinical operations and control processes, and SEC filings. We intend to use our website to expedite public access to time-critical information regarding the Company in advance of or in lieu of distributing a press release or a filing with the SEC disclosing the same information.

Summary - Third Quarter 2015 (1) In 3Q15, Amedisys generated significant y/y revenue, EBITDA and earnings growth Revenue up $26M, or 9% (7% in HH, 16% in hospice) Home health same store Medicare admissions up 4% Hospice same store admissions up 26% Adjusted EBITDA increased 11% to $26.4M (8.1% margin in 3Q; 9.0% YTD) Adjusted EPS up 21% to $0.34 per share Balance sheet continues to strengthen Free cash flow (2) of $29M in 3Q; $64M YTD Total debt outstanding of $100M and leverage ratio (3) of 0.9x Cash balance of $57M and net debt of $43M Investments to support volume growth, ICD-10 conversion and HCHB rollout Cost per visit increased from $85.47 to $87.54 Driven by incremental headcount additions and higher contractor usage, ICD-10 resources and health insurance and workers comp costs Final rule issued in home health; incrementally positive vs. proposed rule Value-based purchasing pilot favors high-quality providers

Summary Adjusted Financials (1)

Home Health Segment – Adjusted Financials and Operating Statistics (1) Quarterly Highlights Revenue growth of $16.2M, or 7% Same store admit growth in Medicare (+4%) and Non-Medicare (+21%) Strong emphasis on business mix (Medicare vs. Non-Medicare) Cost per visit increased $2.07 to $87.54 Anticipated increases from ICD-10 prep and headcount / contractor use to deal with growth Some higher than anticipated cost from higher health insurance and workers’ comp

Hospice Segment – Adjusted Financials and Operating Statistics (1) Quarterly Highlights Year-over-year revenue growth of $9.9M, or 16% Patient census at quarter end of 5,524, an increase of 23% over census at 12/31 Second straight quarter of double-digit same store admission growth Cost per day year-over-year decrease primarily driven by decrease in pharmacy costs

Infinity HomeCare Transaction Expanding our Ability to Care for Patients in Florida Infinity Home Care adds 15 locations in 8 of 11 Florida districts including 48 counties Transaction Highlights Infinity HomeCare cares for more than 14,000 patients per year, has more than 600 employees and generates approximately $50 million in annual revenues and $6.4 million in last twelve months adjusted EBITDA. The Company’s 15 care centers in Florida average a strong 3.9 out of 5 Star rating from the Home Health Compare website published by the Centers for Medicare & Medicaid Services (Medicare.gov) Financial Demonstrated consistent growth and profitability with strong payor mix (90+% Medicare) Project 2016 EPS accretion before transition costs of between $0.04 - $0.08 All care centers operate on HomeCare HomeBase Consistent margins across operations Clinical Quality Distinctive clinical programs with high star ratings and low hospital re-admission rates FL is VBP pilot state; opportunity for high quality providers Growth Platform in Florida Combined company #3 in market share in FL Cover 83% of Medicare eligible population Long-tenured management team with significant market experience Infinity represents the highest quality inorganic growth opportunity in Florida for Amedisys

Adjusted EBITDA to Free Cash Flow Reconciliation S in Millions Q314 Q414 Q115 Q215 Q315 GAAP Net Income 8.4 9.1 (35.0) 10.6 8.4 Taxes 5.4 5.2 (21.6) 7.6 6.5 Interest 3.0 2.6 2.4 2.4 4.9 Depreciation and amortization 6.5 6.2 6.5 4.6 4.6 Adjustments 0.5 (0.2) 74.0 6.4 1.9 Adjusted EBITDA 23.8 22.9 26.4 31.7 26.4 Provision for doubtful accounts 4.2 3.0 3.0 2.8 3.6 Non-cash compensation, includes 401(k) match expense 3.3 3.9 4.2 3.8 4.2 Cash taxes (0.1) (0.1) 0.0 (0.4) (0.1) Cash interest (1.8) (2.8) (1.8) (1.8) (2.0) Other 5.0 13.1 (0.7) (6.8) (2.2) CFFO, before impact of operating assets and liabilities 34.4 40.0 31.1 29.3 29.9 DOJ settlement (35.0) Changes in operating assets and liabilities (9.1) (0.4) (16.6) 13.3 0.8 Cash Flow from Operations 25.3 4.6 14.5 42.6 30.7 Capital Expenditures (0.8) (2.1) (2.1) (14.6) (1.3) Required debt repayments (3.0) (3.0) (3.0) (3.0) 0.0 Free cash flow 21.5 (0.5) 9.4 25.0 29.4

Income Statement Adjustments (6) Income Statement $000s Line Item Q314 Q414 Q115 Q215 Q315 Exit and restructuring activity costs G&A, Salary and benefits 3,323 230 Exit and restructuring activity costs G&A, Non-cash compensation (644) (174) Inventory and Data Security Reporting G&A, Other 2,121 Wage and Hour litigation G&A, Other 8,000 Legal fees - Department of Justice matter G&A, Other 286 HCHB implementation G&A, Other 2,048 Asset impairment Asset impairment 899 75,193 2,075 Write off of deferred debt issuance cost / call premium payment Interest expense 488 3,212 Loss on disposal of inpatient facility Other, Miscellaneous, net 515 Life insurance proceeds Other, Miscellaneous, net (1,044) Partial claim recovery Other, Miscellaneous, net (818) (307) Legal settlement Other, Miscellaneous, net (1,113) (1,014) Unrealized gain on investment Other, Miscellaneous, net (1,412) (3,945) (1,379) Gain on sale of care centers Other, Miscellaneous, net (184) Total 1,003 (214) 74,040 6,427 5,100 EPS Impact $0.02 ($0.01) $1.37 $0.12 $0.09

Endnotes The financial results for the three-month periods ended September 30, 2014 and September 30, 2015 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 8-K earnings release filed on November 4, 2015. Free cash flow defined as cash flow from operations less capital expenditures and required debt repayments. Free cash flow in 2014 includes impact of Department of Justice settlement. Leverage ratio defined as total debt outstanding divided by last twelve months adjusted EBITDA. Liquidity defined as the sum of cash balance and available revolving line of credit. Home health revenue broken out between traditional Medicare, other episodic payers (Non-Medicare episodic) and payers that reimburse us on a per-visit basis. Gross margin assumes reported cost per visit across each payor. The financial results for the three-month periods ended September 30, 2014, December 31, 2014, March 31, 2015, June 30, 2015 and September 30, 2015 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.