 Amedisys, Inc. www.amedisys.com NASDAQ: AMED May 2008 Exhibit 99.1 |
 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. 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 Quarterly Reports on 10-Q, copies of which are available on the Amedisys internet website http://www.amedisys.com or by contacting the Amedisys Investor Relations department at (800) 467- 2662. We disclaim any obligation to update any forward-looking statements in this presentation. Forward Looking Statements |
 2 Investment Highlights • Large, growing and fragmented industry • Focus on home nursing and related services to Medicare population • Strong internal growth and cash flow with low recurring cap ex • Proven operating model supported by sophisticated technology system • Demonstrated ability to identify and integrate acquisitions • Substantial liquidity and balance sheet capacity to fund external growth • Extensive delivery platform ideally positioned for Medicare care management initiatives • Experienced management team |
 3 Management Team • William F. Borne - Chairman and Chief Executive Officer - CEO since founding the Company in 1982 - Registered nurse, extensive hospital administrative and clinical experience • Larry R. Graham - President and Chief Operating Officer - Joined Amedisys in 1996; COO since 1999; President since 2004 - General Health Systems - Arthur Andersen • Dale E. Redman, CPA - Chief Financial Officer - Joined Amedisys in February 2007 - CFO of United Companies - Ernst & Young |
 4 Corporate Overview • Leading provider of home nursing services • 480 1 locations throughout the United States • Services include skilled nursing and therapy • Home Health =94% revenue, Hospice = 6% revenue • 95% of Home Health revenue is episodic based (both Medicare & non-Medicare) 1) Both home health and hospice, as of March 31, 2008 2) For the three-month period ended March 31, 2008 |
 5 Our Locations 1 1) As of March 31, 2008 • Largest home nursing provider in the Southern and Southeastern United States - 442 home nursing locations - 38 hospice locations |
 6 Our Strategy • Focus on Medicare-eligible patients • Prioritize internal growth • Select, acquire and integrate quality home care agencies • Leverage cost-efficient operating platform • Develop and deploy specialized nursing programs • Expand care coordination platform |
 7 • Home health care is a $62.8 billion industry • Home nursing is the largest segment in the home health industry • Medicare spending for home nursing totaled $13.1 billion in 2005 Home Health Care Spending Home Health Industry Expenditures ($ billions) Medicare Home Nursing $13.1 Home Nursing (Commercial, Medicaid & Other) $23.3 Home Nursing $46.1 Infusion Therapy $5.5 Durable Medical Equipment $2.8 Respiratory Therapy $8.4 Hospice $9.7 Source: Company Reports, CMS and CIBC World Markets Corp. estimates for 2005 |
 8 Home Nursing Market • Industry is highly fragmented • 8,800 Medicare-certified nursing agencies • Most are single-site, small local or regional providers: - Independently-owned agencies - Visiting nurse associations - Facility and hospital-based agencies • Publicly-owned providers account for less than 7% of the home nursing market |
 9 Industry Growth Drivers • Trend from inpatient to home-based care: - Patient preference - Payor incentives - Technology advancements • Demographics – aging population - 8,000 Americans will become Medicare eligible each day beginning in 2011 and by 2030, 57.8 million baby boomers will be eligible for Medicare benefits 1 • Increased prevalence of chronic and co-morbid conditions 1 According to the United States Census Bureau |
 10 Internal Growth - Overall industry growth - Expanded and more effective sales force - Comprehensive range of clinical programs - Enhanced referral source education efforts - Focus on start-ups • Strong internal growth in episodic-based admissions - Approximately 7% for Q1 2008 and 12% for year ended 2007 • Internal revenue growth 26% for Q1 2008 • Internal growth driven by: |
 11 Start-Up Strategy • Start-ups typically generate $1.5 - $2.0 million in run-rate revenue by the end of their second year of operations • ~ 18 months to recoup the $250,000 - $350,000 investment • 9 home health start-ups completed through March 31, 2008 * Reported numbers are for home health start-ups |
 12 Acquisition Strategy • Acquisition rationale: - Industry leadership - Leverage our operating/business systems - Value accretion through synergies and agency profitability enhancement • Acquisition criteria: - Defined pricing objectives - Targeted geographic profile - Compatible payor mix - Consistent clinical metrics - Expandable referral base - Opportunities for future internal growth |
 13 TLC Integration • Detailed plan to wind-down TLC corporate - Converting ~ 20 agencies per month - Closing corporate office and regional billing centers over next 4-6 months - Converted Human Resources, Accounts Payable and Payroll mid-April |
 14 Investments in Technology • Strategic advantages from technology • Standardized processes: - Automated review of assessment forms - Automatic scheduling - Web-based HR and payroll system • Centralized management of clinical oversight/utilization: - Real-time episode analysis - Daily/weekly review of quality indicators - Executive information system • Point of care roll-out completed |
 15 High Quality Health Care • Care Management - 12 disease management programs - 70 clinical tracks • Specialty Division - Balance For Life first program in division - Targets higher acuity patients - Started in 33 locations, rolling out system-wide |
 16 Comprehensive Compliance Program Local Level • Clinical nurse review of assessments • Standardized care plans • Physician review/approval • Weekly case conferences • Monthly audits • End of episode case review • Point-of-care system enhances clinical documentation accuracy with real-time assessment input Regional Level Corporate Level • Unannounced compliance & billing audits • Regional directors monitor compliance status and resolve errors • Real-time monitoring capability of local level activity via point-of- care system • Semi-annual clinical/compliance reviews • Compliance review of metric variances • Compliance manager site visits • Compliance training for all employees • Compliance concerns hotline • Annual Sarbanes-Oxley audit • Annual billing competency testing |
 17 Medicare Reimbursement • Implemented in October 2000 - Base payment for 60-day episode of care - Adjusted for patient acuity and market factors • 2008 CMS issued reimbursement changes - Expands HHRG from 80 to 153 - More integrated reimbursement for therapy - Better alignment of reimbursement with patient needs - Allocation of more dollars to later episodes - Should benefit agencies with a greater business mix of higher- acuity patients |
 18 Financial Highlights • Increasing revenue • Cash flow/low cap ex requirements • Consistent EPS growth • Strong balance sheet to fund future growth - $250 million active shelf registration - $120 million unused revolving credit facility |
 19 EBITDA is defined as net income before provision for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner. ($ millions, except per share data) Summary Financial Results 2006 2007 1Q07 Net revenue $541.1 $697.9 $153.6 Period-over-period growth 41.8% 29.0% 20.8% Gross margin¹ 305.7 368.9 82.0 Margin 56.5% 52.9% 53.4% Operating income 65.7 96.6 20.7 Margin 12.1% 13.8% 13.5% EBITDA 75.7 109.8³ 23.6 Margin 14.0% 15.7% 15.4% Fully-diluted EPS $1.75² $0.51 Period-over-period growth 24.1% 32.6% 50.0% 1Q08 $213.1 38.7% 112.3 52.7% 27.8 13.1% 15.2% $0.62 21.6% 32.3 Net Income 65.1 38.3 13.3 16.5 $2.32³ 1)Effective January 1, 2008 we have reclassified certain costs from our general and administrative expenses to our cost of service for the reporting period ended March 31, 2008, as detailed in our 10Q. As of the date of this presentation we have not reclassified 2006 figures. 2) Adjusted to exclude $0.03 charge for write-off of deferred financing fees. 3) Excludes the $4.2 million or $0.16 per diluted share Alliance gain |
 20 Summary Performance Results 2006 2007 1Q07 Agencies at period end¹ 275 354 290 Period-over-period growth 28.7% Completed Medicare Episodes 172,930 208,547 47,942 Period-over-period growth 20.6% Episodic-Based Admissions 108,140 129,649 31,599 Period-over-period growth 19.9% Revenue per Episode $2,634 $2,666 $2,644 Period-over-period growth 1.2% Total Visits 3,437,881 4,302,830 972,175 Period-over-period growth 25.2% 1Q08 480 65.5% 60,339 25.9% 38,859 23.0% 1.4% 1,280,957 31.8% $2,680 DSO 46.3 51.2 52.9 51.3 1) Inclusive of home health and hospice locations |
 21 Summary Balance Sheet ($ in millions) Dec. 31, 2007 Mar. 31, 2008 Assets Cash Accounts Receivable, Net Property, Plant and Equipment Goodwill Other Total Assets Liabilities and Stockholders’ Equity Debt All Other Liabilities Stockholders’ Equity Total Liabilities and Stockholders’ Equity $ 25.2 144.1 75.4 734.2 58.8 $ 1,037.7 $417.4 151.9 468.4 $ 1,037.7 $ 56.2 96.3 68.3 332.5 33.8 $ 587.1 $24.0 116.1 447.0 $ 587.1 |
 22 Guidance 1) Provided as of the date of our form 8-K filed with the Securities and Exchange Commission on April 30, 2008 Calendar Year 2008¹ Net revenue: $1.050 - $1.100 billion EPS: $2.70 - $2.80 (after adding back one-time expenses related to the acquisition of TLC Health Care Services, Inc., including certain integration costs) Diluted shares: 26.9 million |
 23 Investment Highlights • Large, growing and fragmented industry • Focus on home nursing and related services to Medicare population • Strong internal growth and cash flow with low recurring cap ex • Proven operating model supported by sophisticated technology system • Demonstrated ability to identify and integrate acquisitions • Substantial liquidity and balance sheet capacity to fund external growth • Extensive delivery platform ideally positioned for Medicare disease management initiatives and payor diversification • Experienced management team |
 24 Contact Information • Kevin B. LeBlanc • Director of Investor Relations • Amedisys, Inc. • 5959 S. Sherwood Forest Boulevard • Baton Rouge, LA 70816 • Office – 225.292.2031 • Fax – 225.295.9653 • kleblanc@amedisys.com |
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