Amedisys lowers 2013 forecast as reimbursement cuts hit revenue

April 30 Tue Apr 30, 2013 7:35am EDT

April 30 (Reuters) - U.S. home healthcare provider Amedisys Inc cut its forecast for 2013, four days after reporting first-quarter results below estimates due to lower patient numbers and cuts in government reimbursements.

Amedisys cut its per-share earnings forecast for the year by 15 cents to between 45 and 55 cents.

Analysts expect 64 cents on average for 2013, according to Thomson Reuters I/B/E/S.

The company also cut its service revenue forecast to $1.28 billion-$1.32 billion from the $1.43 billion-$1.45 billion forecast in March. Analysts are looking for $1.43 billion.

Amedisys said last week that home health results were hurt by sequestration, which caused a reduction 3 cents per share in its earnings.

President Barack Obama's healthcare law imposes reimbursement cuts on the home healthcare industry. Companies such as Amedisys, Gentiva Health Services Inc, Almost Family Inc and LHC Group Inc have struggled to offset the impact.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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