On Wednesday Big Four company Almost Family released its first quarter financial results, which were as good as could be expected considering the current reimbursement drought, the company said.
The Columbia, Md.-based company noted that although its net service revenue had grown by 9%, from $82.6 million in 2011 to $90 million in the first three months of 2012, its net income of $4.9 million dollars was down compared to a $5.7 million income in 2011.
The agency also saw 2012 Medicare cuts reduce its revenue by $2.9 million. On the upside, its Medicare admissions grew 2%, which offset a 3% decline in recertifications.
"In an environment of slowing health care expenditures, both broadly and specifically in home health care, we are pleased with our first quarter results,” says William Yarmuth, the company’s CEO.
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