Amedisys Inc (AMED, Financial) filed Quarterly Report for the period ended 2012-06-30.
Amedisys Inc has a market cap of $359.4 million; its shares were traded at around $12.6 with a P/E ratio of 6.9 and P/S ratio of 0.2. Amedisys Inc had an annual average earning growth of 25.1% over the past 10 years. GuruFocus rated Amedisys Inc the business predictability rank of 3-star.
On July 1, 2012, we received a notice of termination without cause effective September 30, 2012, of our episodic-based national home health services provider agreement with Humana, Inc. (Humana). We are currently in negotiations to revise all or part of our contractual relationships with Humana. Revenue from patients admitted under the existing Humana agreement is approximately 5% of our total net service revenue for the three and six-month periods ended June 30, 2012. It is uncertain at this time the effect that these developments will have on our future results of operations and cash flows.
During the six month period ended June 30, 2012, revenue decreased $36 million as we experienced a $52 million decline in our episodic based revenue and a $16 million increase in our non-episodic revenue. The decrease in episodic-based revenue consisted of $31 million as a result of lower revenue per episode, $17 million from declining volume and the receipt of a $4 million CMS bonus payment with no comparable item in 2012.
Our patient accounts receivable, net increased $15.1 million from December 31, 2011 to June 30, 2012. Our cash collection as a percentage of revenue was 100.3% for the six-month period ended June 30, 2012, and 104.1% for the six-month period ended December 31, 2011. Our days revenue outstanding, net has increased 2.7 days since December 2011 primarily due to our larger percentage of non-Medicare home health revenue.
Our estimated revenue adjustments were 5.6% and 5.9% of our outstanding Medicare patient accounts receivable at June 30, 2012 and December 31, 2011, respectively.
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Amedisys Inc has a market cap of $359.4 million; its shares were traded at around $12.6 with a P/E ratio of 6.9 and P/S ratio of 0.2. Amedisys Inc had an annual average earning growth of 25.1% over the past 10 years. GuruFocus rated Amedisys Inc the business predictability rank of 3-star.
Highlight of Business Operations:
We are a leading provider of high-quality, low-cost home health services to the chronic, co-morbid, aging American population with approximately 82% and 84% of our revenue derived from Medicare for the three-month periods ended June 30, 2012 and 2011, respectively and approximately 83% and 85% of our revenue derived from Medicare for the six-month periods ended June 30, 2012 and 2011, respectively. During the three-month period ended June 30, 2012, we had $378.5 million in net service revenue, earnings per diluted share of $0.26 and cash flow from operations of $23.2 million. For the six-month period ended June 30, 2012, we had $749.3 million in net service revenue, earnings per diluted share of $0.44 and cash flow from operations of $35.0 million.On July 1, 2012, we received a notice of termination without cause effective September 30, 2012, of our episodic-based national home health services provider agreement with Humana, Inc. (Humana). We are currently in negotiations to revise all or part of our contractual relationships with Humana. Revenue from patients admitted under the existing Humana agreement is approximately 5% of our total net service revenue for the three and six-month periods ended June 30, 2012. It is uncertain at this time the effect that these developments will have on our future results of operations and cash flows.
During the six month period ended June 30, 2012, revenue decreased $36 million as we experienced a $52 million decline in our episodic based revenue and a $16 million increase in our non-episodic revenue. The decrease in episodic-based revenue consisted of $31 million as a result of lower revenue per episode, $17 million from declining volume and the receipt of a $4 million CMS bonus payment with no comparable item in 2012.
Our patient accounts receivable, net increased $15.1 million from December 31, 2011 to June 30, 2012. Our cash collection as a percentage of revenue was 100.3% for the six-month period ended June 30, 2012, and 104.1% for the six-month period ended December 31, 2011. Our days revenue outstanding, net has increased 2.7 days since December 2011 primarily due to our larger percentage of non-Medicare home health revenue.
Our estimated revenue adjustments were 5.6% and 5.9% of our outstanding Medicare patient accounts receivable at June 30, 2012 and December 31, 2011, respectively.
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