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Home Health & Hospice Week

Finance:

Home Health Company Profits Fall In 2011

Published on Wed Apr 13, 2011

Revenues continue to rise, however. If you've seen falling income so far this year, you're in good company. Gentiva Health Services Inc. was the only publicly traded home care chain to buck the trend of lower profits in the first quarter of 2011. Gentiva reported net income of $13.6 million for the quarter ended March 31, compared to $9.3 million in the year-ago quarter. By comparison, LHC Group Inc.'s profits fell from $15.8 million to $10.1 million in the same time period; Almost Family Inc.'s net income decreased from $7.4 million to $5.7 million; and Amedisys Inc.'s profits tumbled from $36.8 million to $15.3 million during that timeframe (for more about Amedisys's earnings, see Eli's HCW, Vol. XX, No. 17, p. 136). Three of the four publicly traded chains saw increases in revenues, however. Gentiva's net revenues took a huge jump from $297.1 million in the first quarter of 2010 [...]
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