Amedisys Faces U.S. Medicare Pay Cut for In-Home Health Care
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Amedisys Inc., Gentiva Health Services Inc. and other in-home health-care providers tumbled in New York trading after the U.S. Medicare program announced plans to cut company payments by 1.5 percent on average in 2014.
Amedisys, the largest U.S. home-nursing provider, fell 13 percent to $11.60 at the close, the biggest single-day decline in more than 13 months. Gentiva declined 13 percent to $9.96 and LHC Group Inc. lost 13 percent to $19.58, the largest falls for both companies since October 2011.