Amedisys, Inc. reported a consolidated net service revenue of $2.35 billion for the fiscal year ending December 31, 2024, reflecting a 5% increase from $2.24 billion in 2023. However, the company experienced a significant decline in operating income, which fell to $94.5 million from $156.4 million in the previous year. This decrease was attributed to a $30 million rise in merger-related expenses and a $48 million impairment charge in the high acuity care segment. The divestiture of the personal care business, which contributed $15 million in revenue in 2023, also impacted overall profitability.
In terms of operational metrics, Amedisys maintained a workforce of approximately 19,000 employees across 519 care centers in 38 states. The company performed over 10.7 million visits for more than 499,000 patients in 2024. The home health segment generated $1.49 billion in revenue, with a notable 11% increase in total admissions. However, Medicare revenue in this segment decreased by 2%, while non-Medicare revenue surged by 20%. The hospice segment also saw growth, with net service revenue rising to $825.8 million, driven by increased reimbursement rates and a stable average daily census.
Strategically, Amedisys is navigating a proposed merger with UnitedHealth Group, which was announced on June 26, 2023. The merger is currently facing legal challenges, including a lawsuit from the U.S. Department of Justice aimed at blocking the transaction. As of December 31, 2024, the merger remains subject to various closing conditions, including regulatory approvals and the absence of any legal prohibitions. The company has incurred significant costs related to the merger, which have contributed to its financial performance challenges.
Looking ahead, Amedisys aims to enhance its service offerings and operational efficiency while addressing the ongoing challenges of labor shortages and rising costs in the healthcare sector. The company plans to focus on improving its quality of care ratings and expanding its market presence in home health and hospice services. Additionally, Amedisys is committed to maintaining strong relationships with payors and referral sources to support its growth strategy in a competitive landscape. The outlook for 2025 includes expectations for continued revenue growth, albeit tempered by the impacts of regulatory changes and market conditions.
About AMEDISYS INC
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