Amedisys records 63% loss in second quarter

Amedisys saw its net income drop 63% to $29.6 million during the second quarter, which followed a 36% loss in prior three months, the company disclosed Wednesday.

During an earnings call Thursday, President and CEO Chris Gerard attributed the negative results to fewer discharges to home health from hospitals, staffing shortages and the ongoing COVID-19 pandemic.

Over the first two quarters, the Baton Rouge, Louisiana-based home health and hospice provider’s net income fell 53% to $61.3 million, according to its earnings report.

The wide availability of telehealth services stemming from the pandemic has led to fewer referrals for home health services, Gerard said.

During the second quarter, Amedisys formed partnerships with Memorial Hermann Health System in Houston and Baylor Scott and White Health in Dallas through Contessa, a hospital-at-home provider it acquired last year. Those relationships are expected to be operational by the end of the year, Gerard said.

“We are confident Contessa will continue making significant progress on more partnerships as we close out the second half of the year, both with health systems as well as with health plans,” Gerard said.

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