An ongoing effort to improve its balance sheet has led Amedisys Inc. (NASDAQ: AMED) to an extensive leadership overhaul at the executive level.
In April 2014, Amedisys agreed to pay $150 million to the federal government, resolving allegations that the company provided medically unnecessary services to Medicare beneficiaries. As the company tries to bounce back, it continues to implement various operational changes, both in terms of strategy and personnel.
The Baton Rouge, La.-based home health and hospice provider announced today several new additions to its executive team, including the appointment of a new Board member—an announcement arriving four months after the company named a new president and CEO in Paul Kusserow.
Like Kusserow, who previously held down executive roles at Humana, Inc. (NYSE: HUM), several of the new additions to Amedisys’ executive team also bring with them past experience working at Louisville, Ky.-based health insurer.
“Amedisys has assembled a group of experienced health care operators of the highest order who can take Amedisys to the next level with their experience and expertise,” a company spokeswoman told HHCN in an email. “We have attracted some of the best strategists and executional operators in the business, and are excited to welcome them to our team.”
Effective April 22, Bruce D. Perkins will join Amedisys’ Board of Directors. Perkins, who currently serves as the strategic executive for MCCI Group Holdings, a physician services company based in Miami, Fla., previously spent 38 years at Humana.
Most recently, he served as president of Humana’s Healthcare Services Segment, a $20 billion division, which provided core services to Medicare and commercial businesses, as well as offering products and services to individuals and groups outside the company’s core businesses. During his tenure with Humana, Perkins led the development of the company’s provider networks, including the nation’s largest network of providers who serve Medicare beneficiaries.
“We are pleased to welcome Bruce to the Board,” said Non-Executive Chairman of the Board Don Washburn in a written statement. “His experience building Humana into a Fortune 100 company as well as his expertise in contracting, managed care, Medicare and home health will add tremendous value to the Board.”
Effective Monday, Amedisys Vice Chairman Ronnie LaBorde resumed his role as chief financial officer, stepping back into the position after serving as the company’s interim president and CEO from February 2014 to December 2014, prior to the addition of Kusserow.
“Ronnie provided great leadership during his time as Interim CEO and has brought great value to his role of CFO during the two years he held this position,” said Kusserow in a written statement. “His financial expertise and relationships with investors and analysts make him the right person for this role.”
LaBorde supersedes Interim CFO Dale Redman, who will retire, but with whom Amedisys expects to enter into a consulting agreement, under which Redman will continue to advise the company.
“[Redman] came out of retirement and has helped stabilize the company during this transition,” Kusserow said. “We are in a much better place as a company, and I give my sincere thanks to him for his leadership and guidance during the past year.”
Also effective Monday, Amedisys appointed Dan McCoy as chief operating officer; Martin Howard as chief information officer; Larry Pernosky as chief human resources officer; Stephen Seim to the role of chief strategy officer; and David Kemmerly as senior vice president of government affairs.
In his position as COO, McCoy will be responsible for home health and hospice operations. He joins Amedisys with more than 20 years of experience leading operations and driving growth at major health plans, including Anthem, where McCoy served as senior vice president of operations.
Combined, Pernosky, Seim and Kemmerly bring more than 70 years of experience, with each having held various positions at Humana at one point or another during their careers. Seim joined Amedisys as chief strategy officer on March 4, while Kemmerly assumed his role as SVP of government affairs on March 30. Pernosky will join the company April 22.
As part of the leadership transition, two executives will be leaving Amedisys: David Bucey, senior vice president, general counsel and secretary will depart the company on May 11; and Dr. Michael Fleming, chief medical officer, will leave on April 15.
To fill their roles, Amedisys will conduct a national search, with David Kemmerly serving as interim general counsel in addition to his role as SVP of government affairs.
“We are grateful to Dave and Dr. Fleming for their outstanding dedication and service to Amedisys,” Kusserow said. “Both have made significant contributions to this organization, and we recognize and thank them for their leadership.”
As one of the nation’s largest home health providers, Amedisys delivers home health and hospice care to more than 360,000 patients each year. As of December 31, 2014, the company provided this care to 316 Medicare-certified home health care centers and 80 hospice locations nationwide, according to documents filed with the U.S. Securities and Exchange Commission in early March.
Written by Jason Oliva