This home nursing and hospice service provider operates in 45 states, as well as D.C. and Puerto Rico, up from 19 in 2007. The company relies on Medicare reimbursements for almost 90% of its business. Amedisys makes our list for the third time with service revenues more than doubling from $698 million in 2007 to $1.5 billion in 2009. In the most recent quarter, profits slid 8%, compared with a year ago, as increased revenues failed to offset higher expenses.
The company said it is cooperating with an SEC investigation into its operations, following reports of an alleged industry-wide practice of home health care providers unnecessarily increasing their numbers of home visits to qualify for a Medicare incentive. Congress has launched its own probe of the industry.
