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

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 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.


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                                                 3541 Green Hills Village Drive
                                                 Nashville, Tennessee 37215
                                                 telephone: 615-665-1122
                                                 facsimile: 615-665-7697
                                                 www.americanhealthways.com