Client: Amedisys Home Health Services

Location: Baton Rouge, Louisiana

Size: Size not provided

Overview: Amedisys, Inc., a home health care company based in Baton Rouge, LA, had been experiencing growth through both acquisition and start-up locations in new markets, typically at a rate of nine to twelve per year. Future plans called for startup numbers of at least 20 per year with that number growing by at least 20 percent each year thereafter. Amedisys recognized that current staffing and resource allocation would not allow for such transaction volume and Amedisys sought to outsource certain real estate functions. In 2004, Amedisys operated from approximately 200 locations in 12 Southern US states. The company planned substantial growth over the coming 36 months through both acquisitions and startup locations in new markets.

Approach: Harbert Realty Services competed with several regional and national corporate services firms to win the assignment of helping Amedisys plan the appropriate real estate strategy for the intended growth. HRS and Amedisys collectively developed and implemented a process intended to streamline real estate decisions by establishing corporate parameters and standards for all new locations. Critical milestones within the real estate process were tracked and reported on, enabling the client to identify opportunities for improvement. Additionally, HRS managed the details of a portfolio which grew from approximately 200 leases to nearly 600 leases over a three year period. The management of critical dates and dollars was further expanded to the oversight and execution of all real estate related payments and invoice auditing and reconciliation. These processes resulted in significant cost savings to Amedisys  not only by negating staffing needs, but also by the avoidance of paying unwarranted invoices and enjoying favorable terms for all leases negotiated by Harbert.

Results:

  • Managed a portfolio of 589 leases to include the prompt payment of all real estate related financial obligations
  • Team of up to eight real estate professionals working on behalf of client all through a single point of responsibility
  • HRS performed work in more than 350 markets completing more than 270 transactions
  • Served client’s needs in 40 states and Puerto Rico