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): January 14, 2020

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 7 - REGULATION FD

ITEM 7.01. REGULATION FD DISCLOSURE

As of January 14, 2020, representatives of Amedisys, Inc. (the “Company”) will begin making presentations at investor conferences using slides containing the information attached to this Current Report on Form 8-K as Exhibit 99.1. 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 2020.

By filing this report on Form 8-K and furnishing this information, the Company makes 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 the Company’s Securities and Exchange Commission (“SEC”) filings and other public announcements that it may make, by press release or otherwise, from time to time. The Company undertakes no duty or obligation to publicly update or revise the information contained in the slides, although it may do so from time to time as its 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.

In accordance with General Instruction B.2 of this Current Report on Form 8-K, the information presented herein shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as previously set forth by specific reference in such a filing.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

99.1	Investor Relations Slide Show in use beginning January 14, 2020 (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
	Chief Financial Officer
	(Principal Financial Officer)

DATE: January 14, 2020

EX-99.1

Amedisys Presentation J.P. Morgan Health Care Conference 2020 Exhibit 99.1

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. Forward-looking statements

Making more than 12.3 million visits (nurses, therapists, chaplains, social workers, dieticians, aides and volunteers) Seeing more than 50,000 patients each day More than 21,000 employees company-wide deliver the highest quality care In collaboration with 2,600 hospitals and 67,000 physicians nationwide Amedisys: Who We Are

Our revenue sources: 3Q19 Medicare FFS: Paid episodically over a 60-day episode Private Episodic: MA and Commercial plans who pay us over a 60-day episode. Generally at rates ~90% – 100% of Medicare Per Visit: Managed care, Medicaid and private payors reimbursing us per visit provided Hospice Per Day Reimbursement: Routine Care: Patient at home with symptoms controlled – 98% 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: 321 care centers; 34 states & DC Hospice: 137 care centers; 33 states Personal Care: 12 care centers; 3 states Total AMED: 470 care centers; 38 states and D.C.

Recognizing that 2019 would be a pivotal year for AMED, we assessed the landscape and narrowed down our work to be done resulting in key strategic initiatives that would set us up for success in 2019 and beyond. These initiatives fell into four buckets: Operational, Change, Growth and Innovation Operational Change Growth Innovation Home Health, Hospice, Personal Care Strategic Pillars Strategic Initiatives Reduce ACH Rate Grow Medicare FFS PDGM Staffing Model Pay Practice Grow Hospice Inorganically Scale Personal Care MA (2.0) Reduce Turnover Change Growth Operational Fundamental changes to our business model that will position us for future success in both 2019 and under payment reform in 2020 Initiatives aimed at expanding the footprints of our hospice and personal care lines of business to address the care needs of our patients and service needs of our partners Initiatives that are essential to our continuing success including: Growing Medicare FFS, ACH Rate Reduction, Reducing Turnover and Improving MA Rates Innovation Assembling the assets needed to truly care for a chronic patient and transform Amedisys into an Aging in Place company (MA 2.0) – Expanding our capabilities 2019 Strategic Initiatives

OPERATIONAL Grow Medicare FFS Reduce ACH Rate Reduce Turnover CHANGE Operationalize PDGM Optimize Staffing Model Change Pay Practices GROWTH Grow Hospice Inorganically Scale Personal Care INNOVATION MA Risk Arrangements How we segmented our business priorities in 2019 2019 Strategic Initiatives

OPERATIONAL Grow Medicare FFS Reduce ACH Rate Reduce Turnover Performance to Date / Areas to Improve 5% Medicare FFS Growth in 3Q’19 highest admissions growth rate since 2010 June 60-Day Risk Adj ACH: 15.2% YTD (3Q) achieving goal of 15.6% 15.9% YTD reflects 12% improvement year over year 2019 Goal Consistent Medicare FFS growth Industry leading ACH Rate Target 15.6% by year end Reduce voluntary turnover & early exit rate 2019 Accomplishments & Results to Date (3Q’19)

CHANGE Operationalize PDGM Optimize Staffing Model & Pay Practice Change Performance to Date / Areas to Improve Successfully piloted Medalogix Care, LPN utilization to nearly 41% (up from 38.7% in 3Q’18) & PTA at 43.2% (up from 41.7% in 3Q’18) All care centers live on new staffing model as of 6/28. Pay practice change complete 2019 Goal Thrive & win under payment reform Operate as efficiently as possible by having the right people do the right jobs 2019 Accomplishments & Results to Date (3Q’19) GROWTH Grow (Inorganically) & Integrate Hospice Scale Personal Care Performance to Date / Areas to Improve CCH 3Q’19 YTD EBITDA: ~$14M vs. FY guidance of $12M-$14M Signed Asana Hospice Deal, Successfully integrated Roserock, launched 5 de novo’s Executed ClearCare partnership giving us access to over 1,000 personal care agencies, representing 116K+ caregivers in 49 states 2019 Goal Expand Hospice footprint to better align with Home Health & Integrate recently acquired Compassionate Care Expand personal care footprint via network partnership OPERATIONAL MA Risk Arrangements Performance to Date / Areas to Improve 2020 goal: 15% - 20% of Managed Care revenue in Value Base Contracts, up from 5% 2019 Goal Increase our percentage of revenue in “risk” arrangements with MA plans

2020 PDGM Impact Proposed Rule Final Rule Commentary Behavioral Assumption (BA) Impact -8.01% -4.36% 3.65% reduction in BA’s from proposed rule to final rule AMED Specific Rate Impact as of 3Q’19 -6.80% -3.15% -6.8% - 3.65% = -3.15% AMED impact Revenue Drivers Behavioral Assumptions ~3.4% ~3.4% Assumes offset of 50% of AMED specific rate impact (-6.80%) as of 3Q’19 Cost Levers What we’ve Seen Through 3Q’19 Visits per Episode All care centers on Medalogix Care product by August of 2020 Variable cost per visit ~$70. 3Q’19 VPE: 17.1 (YoY change of 0.5 VPE) Staffing Mix Goal is to be at 50% RN / 50% LPN and 50% PT / 50% PTA utilization by 4Q’20. Every 1% shift to LPN and PTA is ~$500K in cost savings. LPN utilization to nearly 41% (up from 38.7% in 3Q’18) & PTA at 43.2% (up from 41.7% in 3Q’18) Proposed Rule to Final Rule changes and impact on AMED (note, actual AMED impact could differ as modeling is refined)

2020 Strategic Priorities Focuses for our business in 2020 Innovations (Palliative care, Dialysis, Other care models) Scale Personal Care Network (Care Coordination) CCH (Deliver $34M - $36M EBITDA) PDGM (Thrive in payment reform) People (Turnover and Leadership Development) Growth (Consistent growth in all businesses) Quality (Industry leading quality metrics) MA “Risk” (Driving more innovative MA arrangements)

XML

Document and Entity Information	Jan. 14, 2020
Cover [Abstract]
Entity Registrant Name	AMEDISYS INC
Security Exchange Name	NASDAQ
Amendment Flag	false
Entity Central Index Key	0000896262
Document Type	8-K
Document Period End Date	Jan. 14, 2020
Entity File Number	0-24260
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-3131700
Entity Address, Address Line One	3854 American Way
Entity Address, Address Line Two	Suite A
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70816
City Area Code	225
Local Phone Number	292-2031
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	AMED
Entity Emerging Growth Company	false