Amedisys (AMED) 8-K Regulation FD Disclosure

January 2009

www.amedisys.com

NASDAQ: AMED

We

encourage

everyone

to

visit

the

Investors

section

on

our

website

at

www.amedisys.com,

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to

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Company

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disclosing

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same

information.

Exhibit 99.1

Forward-Looking Statements

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

subsequent

Quarterly

Reports

on

Form

10-Q

and

Current

Reports

on

Form

8-K,

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.

Investment Highlights

Focus on home nursing and related services

to Medicare population

Large, growing and highly fragmented industry

Strong internal growth and cash flow

with low recurring routine cap ex

Proven operating model supported

by sophisticated technology system

Demonstrated ability to identify

and integrate acquisitions

Liquidity availability to fund external growth

Extensive delivery platform ideally positioned

for Medicare care management initiatives

Experienced management team

William F. Borne

Chairman and Chief Executive Officer

CEO

since

founding

the

Company

in

1982

Larry R. Graham

President

and

Chief

Operating

Officer,

Director

Joined

Amedisys

in

1996;

COO

since

1999;

President since 2004

Dale E. Redman, CPA

Chief Financial Officer

Joined

Amedisys

in

February

2007

Alice Ann Schwartz

Chief Information Officer

Joined

Amedisys

in

1998,

CIO

since

2004,

SVP Clinical Operations since 2003

Jeffrey Jeter

Chief Compliance Officer

Joined

Amedisys

in

2001

Management Team

Corporate Overview

Founded in 1982, publicly

listed 1994

534

2

locations in 37 states

Leading provider of home

health services

]

Services include skilled

nursing and therapy

94% of Home Health revenue

is episodic based (both

Medicare & non-Medicare)

1

For the nine-month period ended September 30, 2008

2

Both home health and hospice, inclusive of joint venture agencies, as of December 31, 2008

3

Annualized visits per year

4

Forecasted 2008 annual results as of 10/28/08 and reaffirmed 11/20/08

5

Forecasted 2009 annual results as of 1/06/09

Revenue Mix

Stats

14,500 employees

Daily visits = 18,300

6,750,000

visits per year

2008 revenue guidance = $1.175

billion

4

2009 revenue guidance = $1.475 billion

5

1

3

Patient Overview

Average patient is 81 years old

Higher acuity patient

Patient is taking an average of 13

medications

]

14 medications for greater than

two episodes

Patient Overview

84.1% of patients have two episodes of care or less:

]

66.4% of patients have only one episode of care

]

17.7% have only a second episode of care

Our Locations

1

As of December 31, 2008, inclusive of joint ventures.

National

home

nursing

provider

located

in

37

states

and

Puerto

Rico

.

Largest provider in the Southern and Southeastern United States.

–

484 home nursing

locations

–

50 hospice locations

1

1

Our Strategy

Focus on Medicare-eligible patients

Emphasize internal growth

Select, acquire and integrate quality home

care agencies

Focus on providing a cost-efficient

operating structure

Develop and deploy specialized programs

for chronic diseases and conditions

Expand care coordination platform

Start-up activities

Medicare Revenue Market Size

2006: Medicare spending

for home health reached

$14 billion and hospice

was $9.2 billion, giving a

combined total of $23.2

billion

2017: Home health will

contribute $36 billion and

hospice $20 billion of the

projected $56 billion

Source: CBO's

March 2008 Baseline: MEDICARE

MEDICARE Home Health and Hospice Revenue

$ in billions

Home Nursing Market

Source: CMS Oscar data books and Medpac

reports

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

Increased prevalence of chronic and co-morbid

conditions

1

Source: United States Census Bureau

1

Internal Growth

Internal revenue growth 28% for Q3 2008 and 27% for the first

nine months of 2008

Internal growth driven by:

–

Overall industry growth

–

Increase in episodic-based admissions

•

Focus on start-ups

–

Increase in episodic-based recertification's

•

Higher acuity levels and co-morbidities, requiring

more intensive services

–

Increase in episodic-based revenue per episode

•

Development of therapy intensive specialty

programs

•

Focus of the new Medicare payment system

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

35 home health and 5

hospice start-ups completed

in 2008

* Reported numbers are for home health start-ups

Yearly Start-Ups

Acquisition Strategy

TLC Integration

TLC Integration Complete

Detailed plan to wind-down TLC corporate

–

Converted all agencies as

of September 15, 2008

–

Closed all regional billing centers as of

October 24, 2008

–

Minor number of corporate employees

remained until December 31, 2008

High Quality Health Care

Source: OCS Corporate Comparative Report

Period: 1/1/08 –

9/30/08

Higher Acuity Level Patients

Source: OCS BBI Reporter Corporate Comparative Report          

Date Range:   2005-2007

Case Mix

18

High Quality Outcomes

Outcomes –

June 2008

Amedisys

vs. Nation

1

Lower % is better

Source: www.medicare.gov

High Quality Health Care

Care Management

–

13 disease management programs

–

70 clinical tracks

Specialty Division

–

Balanced For Life first program in

division

–

Serves higher acuity patients

–

Rolled out to 178 locations through 2008

Investments in Technology

Comprehensive Compliance Program

Local Level

•

Point of care system

enhances clinical

documentation accuracy

with real-time assessment

input

•

Clinical nurse review of

assessments

•

Physician review/approval

•

Standardized care plans

•

Weekly case conferences

•

Monthly audits

•

End of episode case review

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

•

Compliance training for all

employees

•

Compliance concerns hotline

•

Compliance review of metric

variances

•

Compliance manager site

visits

•

Semi-annual

clinical/compliance reviews

•

Annual Sarbanes-Oxley audit

•

Annual billing competency

testing

http://www.amedisys.com/pdf/Compliance3/Compliance_Controls.pdf

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

–

Better alignment of reimbursement with patient needs

–

Expands HHRG’s

from 80 to 153

–

More integrated reimbursement for therapy

–

Allocation of more dollars to later episodes

–

Benefits agencies with a greater mix of higher-acuity

patients

2009 Changes

–

Market basket increase of approximately 3%

–

Increase offset by 2.75% case mix creep adjustment

–

No rural add-on payment

Financial Highlights

Increasing revenue

Strong operating cash flow/low cap ex

requirements

Consistent EPS growth

Strong

balance

sheet

to

fund

future

growth

–

$250 million active shelf registration

–

$139

million unused revolving credit

facility through September 2008

1

2008 EPS -

After adding back certain expenses related to the

integration of TLC Health Care Services, Inc.)

1

We

have

reclassified

certain

costs

from

our

general

and

administrative

expenses

to

our

cost

of

service

for

health

care

insurance

costs

and

other

miscellaneous

expenses,

which

are

associated with our direct care employees, to conform to the current year presentation.

2

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

3Q07

Net revenue

Period-over-period growth

Gross margin

Margin

Operating income

Margin

EBITDA

Margin

Fully-diluted EPS

Period-over-period growth

3Q08

Net Income

$541.1

41.8%

288.9

53.4%

65.7

12.1%

75.7

14.0%

38.3

$1.72

22.0%

$697.9

29.0%

368.9

52.9%

96.6

13.8%

114.0

16.3%

65.1

$2.48

44.2%

$180.9

32.0%

96.5

53.3%

25.7

14.2%

33.7

18.6%

20.2

$0.77

60.4%

$321.6  

77.7%

170.4

53.0%

43.6

13.6%

49.4

15.3%

23.5

$0.87

13.0%

1

2

2006

2007

3Q07

Agencies at period end¹

Period-over-period growth

Episodic-Based Completed Episodes

Period-over-period growth

Episodic-Based Admissions

Period-over-period growth

Episodic-Based Revenue per Episode

Period-over-period growth

Total Visits

Period-over-period growth

3Q08

DSO

1

Inclusive of home health and hospice locations and joint ventures

360

30.9%

4,302,830    

25.2%

129,649

19.9%

219,855

27.1%

$2,661

1.0%

51.3

275

3,437,881

108,140  

172,930

$2,634

52.9

344

1,102,913

32,672  

53,958

$2,672

49.3

511

48.5%

1,879,573    

70.4%

53,203

62.8%

94,986

76.0%

$2,868

7.3%

56.7

Summary Performance Results

Summary Balance Sheet

($ in millions)

Dec. 31, 2007

Sept. 30, 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

$   5.7

179.8

80.4

701.1

83.7

$ 1,050.7

$  359.7

162.7

528.3

$ 1,050.7

$   56.2

96.3

68.3

332.5

33.8

$  587.1

$  24.0

116.1

447.0

$  587.1

Accounts Receivable

Note:

On average we collect over 99% of our Medicare revenue.

On average we collect approximately 86% of our non-Medicare revenue

September 30, 2008

December 31, 2007

Medicare

139,765

$                

78,502

$                  

Estimated revenue adjustments

(6,928)

(3,622)

Medicare patient accounts receivable, net

132,837

74,880

Non-Medicare

66,898

34,397

Allowance for doubtful accounts

(19,967)

(12,968)

Non-Medicare patient accounts receivable, net

46,931

21,429

Patient accounts receivable, net

179,768

$                

96,309

$                  

Accounts Receivable

Historically,

Amedisys

collects

over

99%

of

its

Medicare

receivables

–

Collections in 2008 have followed historical norms

Guidance

1

Guidance excludes the effects of future acquisitions, if they are made.

2

Provided as of the date of our Form 8-K filed with the Securities and Exchange Commission on October 28, 2008 and reaffirmed on November 20, 2008

3

Provided as of the date of our Form 8-K filed with the Securities and Exchange Commission on January 6, 2009

Calendar Year 2008

Net revenue:

$1.150 -

$1.175 billion

EPS:

$3.20 -

$3.25

(after adding back certain expenses related to

the integration of TLC Health Care Services, Inc.)

Diluted shares:

26.9

million

Calendar Year 2009

Net revenue:

$1.425 -

$1.475 billion

EPS:

$4.10 -

$4.30

Diluted shares:

27.5

million

3

2

1

Summary

Focus on home nursing and related services

to Medicare population

Large, growing and highly fragmented industry

Strong internal growth and cash flow

with low recurring routine cap ex

Proven operating model supported

by sophisticated technology system

Demonstrated ability to identify

and integrate acquisitions

Liquidity availability to fund external growth

Extensive delivery platform ideally positioned

for Medicare care management initiatives

Experienced management team

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

We

encourage

everyone

to

visit

the

Investors

section

on

our

website

at

www.amedisys.com,

where

we

have

posted

additional

important

information

such

as

press

releases,

profiles

concerning

our

business

and

clinical

operations

and

control

processes,

and

SEC

filings.

We

intend

to

use

our

website

to

expedite

public

access

to

time-critical

information

regarding

the

Company

in

advance

of

or

in

lieu

of

distributing

a

press

release

or

a

filing

with

the

SEC

disclosing

the

same

information.