Amedisys (AMED) 8-K Regulation FD Disclosure

Investor Presentation

Leading Home Health Care & Hospice

March 2011

Exhibit 99.1

Leading Home Health & Hospice

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

that

could

cause

actual

results

to

differ

materially

from

those

described

in

this

presentation.

You

should

not

rely

on

forward-looking

statements

as

a

prediction

of

future

events.

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

or

any

changes

in

events,

conditions

or

circumstances

upon

which

any

forward-looking

statement

may

be

based

except

as

required

by

law.

2

www.amedisys.com

NASDAQ: AMED

We encourage everyone to visit the

Investors Section of 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.

Leading Home Health & Hospice

91%

9%

Home Health

Hospice

Company overview

1

3

•

Founded in 1982, publicly listed 1994

•

553 locations in 45 states

•

Leading provider of home health services

-

Services include skilled nursing and therapy

services

•

Growing hospice business

•

95% of Home Health revenue is episodic

based (both Medicare & non-Medicare)

16,300 employees

Home Health Division:

-Total admits. and recerts. in 2010 ~ 502,000

-9.1 million visits in 2010

Hospice Division:

-

Average daily census = 2,880

-

Average length of stay = 87 days

2011

revenue

guidance

=

$1.65

billion

2

1

For the year ended December 31, 2010

2

Provided as of the date of our Form 8-K filed with the Securities and Exchange Commission on February 22, 2011.

Stats

Revenue Mix

Leading Home Health & Hospice

Management team

William F. Borne, Chairman and CEO

Founder and CEO since 1982

28 years leading the industry

Michael D. Snow, Chief Operating Officer

30 years leading health care operations

Wellmont, HealthSouth, HCA

Tim Barfield, Chief Development Officer

15 years of corporate development experience

Gov. Bobby Jindal , Vinson & Elkins, The Shaw Group

Dale E. Redman, CPA, Chief Financial Officer

34 years of senior level financial experience

Winward Capital, United Companies Financial

4

Jeffrey D. Jeter, Chief Compliance Officer

14 years of health care law and compliance expertise

Former Medicaid prosecutor,  LA AG for DOJ

Michael O. Fleming, Chief Medical Officer

29 years as a family physician

Former President of AAFP, first industry CMO

G. Patrick Thompson, Chief Information Officer

23 years of corporate administration experience

Arthur Andersen, Turner Industries, The Shaw Group

David R. Bucey, General Counsel

24 years of experience in corporate law

Coca-Cola Company, McKenna Long & Aldridge

Leading Home Health & Hospice

Agency Locations

5

486 -

Home Health locations

67 -

Hospice locations

Leading Home Health & Hospice

Home Health Division

6

•

Industry leader

–

Strong

national

footprint

–

486

locations

across

45

states

as

of

December

31,

2010

–

$356 million revenue in 4Q 2010

•

Strong clinical quality

•

Experienced divisional leadership

•

World-class technology platform

•

Well positioned to capitalize

on organic and consolidation

opportunities

Leading Home Health & Hospice

Hospice Division

7

•

67 locations across 20 states as of December 31

–

$38 million revenue in 4Q 2010

•

Operational efficiencies drive strong margins

•

Quality care drives referral growth

•

Partnered with the country’s largest and leading Home Health company

–

Offering comprehensive

continuum of at-home care

–

Collective resources to drive

operational and clinical

excellence

–

Cross referral opportunities

to drive growth

Leading Home Health & Hospice

Medicare market size

8

Source: Congressional Budget Office baseline reports (Home health figures from 2010 report, Hospice figures from 2009 report)

Leading Home Health & Hospice

Value Proposition

•

Home Health is the lowest total cost, lowest daily cost, and provides care

over the longest period of time

9

*Source: National Association for Home Health & Hospice, Medpac June 2010 Data Book

Hospital

SNF

Home Health

Average Cost of Stay

$28,191

$14,688

$5,293

Average Length of Stay

4.9 days

27 days

106 days

Per Diem Cost

$5,765

$544

$50

Leading Home Health & Hospice

Our Long Term Operating Tenets

10

Leading Home Health & Hospice

Focus on Clinical Outcomes

11

•

Exceeded or met 11 out of 12 outcomes vs. footprint

1

Lower % is better          Source:  Medicare

Leading Home Health & Hospice

Industry Based

Best Practice

Quality Care Initiatives

12

Care Transition

Encore/Telehealth

Care Team Conference

Research & Development

Nurse Practitioners

Leading Home Health & Hospice

3%

6%

15%

12%

0%

5%

10%

15%

20%

2009

2010

Same Store Episodic-Based

Admission Growth

1

Home Health

Hospice

Growth -

Organic

13

•

Care transition coordinators

•

Professional sales force / Mercury Doc

•

Specialty programs

•

Health system & hospital partnerships

•

Clinical outcomes

•

Duke School of Medicine’s Institute on Care at the End of Life

1

Same

store

episodic-based

admission

growth

is

the

percent

increase

in

our

same

store

episodic-based

admissions

for

the

period

as

a

percent

of

the

same

store

episodic-based

admissions

of

the

prior

period.

Leading Home Health & Hospice

Consolidation Opportunities

14

•

Home health and hospice industries are highly fragmented

–

10,500 home health provider numbers

–

3,400 hospice provider numbers

–

Most are single-site, small, local or regional providers

•

Small market share of publicly traded companies

–

Account for 15% of home health Medicare revenue market

–

Account for 12.5% of hospice Medicare revenue market

•

Focus

–

CON markets, footprint expansion, market depth, hospital system joint ventures

–

Hospice geographic expansion into Amedisys home health markets and market

depth

–

Revenue diversification strategies and care management expansion

opportunities

•

Positioned well for increase in opportunities expected in 2011

Leading Home Health & Hospice

Efficiency

15

•

Flexible Labor Structure

–

Pay per visit structure

–

Response  to volume fluctuations

•

Infrastructure Investment

–

Upgraded accounting and HR system to Peoplesoft

•

More back office efficiency

•

Greater scalability

–

Field computer refresh

•

Enhanced field wireless communication

•

Access to clinical support

–

Continued investment in state-of-the-art operating system

–

Hospice point of care in 2011

Leading Home Health & Hospice

Efficiency

16

Cost of Revenue

•

Pay per visit focus

•

Reduction in overtime

•

Weekly visit metrics

Field Overhead

•

Streamline management infrastructure

•

Closures/Mergers

Hospice

•

Reduced pharma costs

1

Fourth quarter figure adjusted for holiday pay

Leading Home Health & Hospice

Industry Challenges/Opportunities

•

Regulatory focus on industry and Amedisys

–

Senate Finance Committee inquiry of public companies

–

Securities Exchange Commission investigation of public

companies

–

Department of Justice investigation

17

•

Home health reimbursement challenges

–

2011 reduction of 5.2%

–

Proposed 2012 reduction of ~2.9%

–

Rebasing

–

Face-to-face

–

Therapy reassessments

•

Home health Opportunities

–

Growth demographics

–

Moving to lower cost setting

–

Focus on outcomes

–

Value based performance 

•

Hospice outlook

–

Stable reimbursement

–

Face-to-face

Leading Home Health & Hospice

Investment Rationale

•

Solid industry growth rate

•

Deploy technology

•

Clinical quality and innovation

•

Low cost setting in high cost healthcare industry

•

Scalable infrastructure

•

Expected industry consolidation

•

Strong liquidity and capital position

18

Tremendous

Opportunities

Leading Home Health & Hospice

Financial Review

19

*

*

*

*

*

*

*

*

*

*

*

Leading Home Health & Hospice

Financial highlights

20

Leading Home Health & Hospice

21

Summary financial results

($ in millions, except per share data)

2009

2010

4Q09

4Q10

Net revenue

$1,513.5

$1,634.3

$405.5

$394.3

Period-over-period growth

27.5%

8.0%

19.2%

(2.8%)

Gross margin

789.0

813.9

208.1

193.5

Percent of revenue

52.1%

49.8%

51.3%

49.1%

CFFO

247.7

206.3

28.7

33.7

Adjusted EBITDA¹

261.8

242.0

71.3

54.8

Percent of revenue

17.3%

14.8%

17.6%

13.9%

Adjusted

Fully-diluted

EPS

2

$4.89

$4.29

$1.35

$0.95

1

Adjusted

EBITDA

is

defined

as

net

income

attributable

to

Amedisys,

Inc.

before

provision

for

income

taxes,

net

interest

(income)

expense,

and

depreciation

and

amortization

plus

certain

adjustments

(i.e

Certain

items

incurred

in

2010

which

are

detailed

in

our

Form

8-K

filed

with

the

Securities

and

Exchange

Commission

on

February

22,

2011).

Adjusted

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

adjusted

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.

2

Adjusted

diluted

earnings

per

share

is

defined

as

diluted

earnings

per

share

plus

the

earnings

per

share

effect

of

certain

adjustments

(i.e.

Certain

items

incurred

in

2010

which

are

detaile

d in

our

Form

8-K

filed

with

the

Securities

and

Exchange

Commission

on

February

22,

2011).

Adjusted

diluted

earnings

per

share

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

adjusted

diluted

earnings

per

share

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.

Leading Home Health & Hospice

22

Summary performance results

2009

2010

4Q09

4Q10

Agencies at period end

586

553

586

553

Period-over-period growth

11.0%

(5.6%)

11.0%

(5.6%)

Total visits

8,702,146

9,065,549

2,261,121

2,184,880

Period-over-period growth

24.2%

4.2%

13.5%

(3.4%)

Episodic-based admissions

231,782

253,763

59,694

61,937

Period-over-period growth

16.3%

9.5%

11.1%

3.8%

Episodic-based completed

episodes

411,975

424,988

108,360

105,475

Period-over-period growth

17.0%

3.2%

9.9%

(2.7%)

Episodic-based revenue per

episode

$3,166

$3,311

$3,260

$3,294

Period-over-period growth

10.9%

4.6%

9.7%

1.0%

Leading Home Health & Hospice

23

Summary balance sheet

Dec. 31, 2009

Dec. 31, 2010

Assets

Cash

$      34.5

$      120.3

Accounts Receivable, Net

150.3

141.5

Property and Equipment

91.9

138.6

Goodwill

786.9

791.4

Other

108.8

108.0

Total Assets

$ 1,172.4

$ 1,299.8

Liabilities and Equity

Debt

$    215.2

$    181.9

All Other Liabilities

220.9

238.2

Equity

736.3

879.7

Total Liabilities and Equity

$ 1,172.4

$ 1,299.8

Leverage Ratio

Leverage Ratio, Net of Cash

0.8x

0.7x

0.8x

0.3x

Leading Home Health & Hospice

47.7

43.7

53.3

46.8

39.1

39.6

43.3

45.2

45.0

46.8

51.0

47.2

40.4

36.9

33.2

33.9

32.6

32.5

30.8

32.8

25.0

30.0

35.0

40.0

45.0

50.0

55.0

DSO -

Net

(2)

24

Days revenue outstanding (DSO)

(1)

Our calculation of days revenue outstanding, net at March 31, 2008 is derived by dividing our ending net patient accounts receivable (i.e. net of estimated revenue adjustments, allowance for doubtful accounts and

excluding the patient accounts receivable assumed in the TLC Health Care Services, Inc. (“TLC”) and Family Home Health Care, Inc. & Comprehensive Home Healthcare Services, Inc. (“HMA”) acquisitions) by our average

daily net patient revenue, excluding the results of TLC and HMA for the three-month period ended March 31, 2008.

(2)

Our calculation of days revenue outstanding, net is derived by dividing our ending net patient accounts receivable (i.e. net of estimated revenue adjustments and allowance for doubtful accounts) by our average daily net

patient revenue for the three-month period.

(1)

Leading Home Health & Hospice

25

Liquidity

•

Cash balance at 12/31/10 = $120M

•

Available line of credit (LOC): 12/31/10 =  $235M

•

2011 Estimated CFFO -

Cap Ex =  $110M -

$120M

Leading Home Health & Hospice

26

Guidance

1

Calendar

Year

2011

2

Net revenue:

$1.60 -

$1.65 billion

EPS:

$3.00 -

$3.30

Diluted shares

3

:

29.3 million

1

Guidance

excludes

the

effects

of

any

share

repurchases,

future

acquisitions,

any

non-recurring

costs

that

may

be

incurred

during

the

year

or

the

impact

of

any

future

Medicare

rate

changes.

2

Provided

as

of

the

date

of

our

Form

8-K

filed

with

the

Securities

and

Exchange

Commission

on

February

22,

2011.

3

Without

adjustment

for

any

shares

that

may

be

repurchased

under

our

Share

Repurchase

Program.

Leading Home Health & Hospice

Guidance

27

•

First quarter will see a significant

sequential decline from the 95 cent run rate in

the

4

th

quarter

–

5.2% rate cut will negatively impact quarter by  25 to 30 cents

–

$1.2 million impact in January due to bad weather

–

March leadership meeting will negatively impact quarter

–

Negative impact from increased payroll taxes

–

Weak volume in January and February followed by very strong March volume that will

carry over into second quarter

•

Remaining quarters will look similar in step up to 2009

Leading Home Health & Hospice

Summary

28

Tremendous

Opportunities

•

Solid industry growth rate

•

Deploy technology

•

Clinical quality and innovation

•

Low cost setting in high cost healthcare industry

•

Scalable infrastructure

•

Expected industry consolidation

•

Strong liquidity and capital position

Leading Home Health & Hospice

Key references

29

Open Letter to Shareholders:

http://www.amedisys.com/pdf/Letter_to_Shareholders.pdf

Wyatt Matas Report:

(upon request)

kevin.leblanc@amedisys.com

Avalere Study:

http://www.amedisys.com/pdf/avalere_results_051109.pdf

Leading Home Health & Hospice

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

kevin.leblanc@amedisys.com

30