updated 12/6/2010 5:15:19 AM ET 2010-12-06T10:15:19

LAFAYETTE, La., Dec. 3, 2010 (GLOBE NEWSWIRE) -- LHC Group, Inc. (Nasdaq:LHCG), a national provider of home health and hospice services, announced today that the Company is adjusting its full year earnings per share outlook for 2010 solely due to the 4.89% reduction to Medicare reimbursement that was outlined in the Centers for Medicare & Medicaid Services (CMS) Home Health Prospective Payment System (PPS) Rate Update for Calendar Year 2011, which was released on November 3, 2010, following the Company's third quarter earnings call.

Although CMS has not issued definitive guidance, based on past experience, the Company believes that any episode that ends on or after January 1, 2011 (including admissions on or after November 3, 2010), may be reimbursed using the new 2011 rates. Assuming the 2011 rate cut will impact episodes starting in the fourth quarter of 2010 and ending in 2011, the Company is adjusting guidance of fully diluted earnings per share for full year 2010 from the range of $2.75 to $2.85 to $2.65 to 2.75.  The Company is reaffirming full year 2010 net service revenue in the range of $625 million to $635 million.  This guidance does not take into account the impact of any future acquisitions or share repurchases, if made, or de novo locations, if opened.

About LHC Group, Inc.

LHC Group, Inc. ( www.LHCGroup.com ) is a national provider of home health and hospice services, providing quality, cost-effective healthcare to patients within the comfort and privacy of their home or place of residence.  LHC Group provides a comprehensive array of post-acute healthcare services through home health and hospice locations in its home-based division and long-term acute care hospitals in its facility-based division.

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements about the Company's future financial performance and the strength of the Company's operations. Such forward-looking statements may be identified by words such as "continue," "expect," and similar expressions. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including changes in reimbursement, changes in government regulations, changes in LHC Group's relationships with referral sources, increased competition for LHC Group's services, increased competition for joint venture and acquisition candidates, changes in the interpretation of government regulations, and other risks set forth in Item 1A. Risk Factors in LHC Group's Annual Report on Form 10-K for the year ended December 31, 2009, filed with the Securities and Exchange Commission. LHC Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: LHC Group, Inc.
         Eric Elliott, Vice President of Investor Relations
         (337) 233-1307

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com