EXHIBIT 99.1 [AMERICAN HEALTHWAYS LOGO] FOR IMMEDIATE RELEASE Contact: Mary A. Chaput Executive Vice President and Chief Financial Officer (615) 665-1122 AMERICAN HEALTHWAYS TO PRESENT AT THE LEHMAN BROTHERS SEVENTH ANNUAL GLOBAL HEALTHCARE CONFERENCE --------- LIVE INTERNET BROADCAST, REPLAY OF PRESENTATION AVAILABLE ON COMPANY'S WEBSITE NASHVILLE, TENN. (MAR. 3, 2004) - American Healthways, Inc. (Nasdaq/NM: AMHC) today announced that it will participate in the Seventh Annual Global Healthcare Conference hosted by Lehman Brothers from March 3rd to March 5th in Miami. Ben R. Leedle Jr., the Company's president and chief executive officer, will present on Friday, March 5, 2004, at 9:30 a.m. Eastern. The presentation will be broadcast live on the Web and will be available for replay at www.americanhealthways.com. To view the presentation live, please visit the site at least 15 minutes in advance to download and install any necessary audio software. American Healthways, Inc. is the nation's leading and largest provider of specialized, comprehensive disease management, care enhancement and high-risk health management services proven to improve the quality of health care and lower costs. As of Nov. 30, 2003, the Company had 1,024,000 actual lives under management nationwide. For more information visit www.americanhealthways.com. - END - 3541 Green Hills Village Drive Nashville, Tennessee 37215 telephone: 615-665-1122 facsimile: 615-665-7697 www.americanhealthways.com