Gary Taylor's questions to AMEDISYS (AMED) leadership • Q4 2022
Question
Gary Taylor of Cowen and Company sought clarification on the full-year 2022 EBITDA loss for Contessa and the level of improvement assumed in the 2023 guidance, noting a potential discrepancy from prior expectations.
Answer
EVP, CFO & Acting COO Scott Ginn confirmed the 2022 Contessa loss was approximately $30 million and that the 2023 guidance embeds a similar loss, representing a flat year-over-year performance. He acknowledged this was behind their original plan, which had anticipated a ~$10 million improvement, attributing the change to the ramp-up of the new palliative care program and slower-than-expected progress with some JV relationships. Chairman and CEO Paul Kusserow added that they are focusing on scaling new, prestigious partners.