Home health care stocks fall after Senate inquiry
Shares of four home health care providers are tumbling as the Senate Finance Committee raises questions about how they bill Medicare for home health therapy visits.
The committee is sending letters to Amedisys, Almost Family, Gentiva Health Services and LHC Group asking for more information about patient visits.
The inquiry follows a Wall Street Journal analysis that shows companies appearing to change their business practices to trigger higher reimbursement rates.
All the companies say they will cooperate with the committee.
Shares of Almost Family fell 7 percent to $39.53 in afternoon trading. Amedisys fell nearly 8 percent to $51.88, Gentiva was down 6 percent to $27.85, and LHC dropped 2 percent to $35.27.