AMG is a privately-owned provider of health care services encompassing 16 post-acute care hospitals, and over 1,400 employees. AMG’s two-tiered business model consist of long-term acute care hospitals that provide a continued acute level of care for patients suffering complex medical conditions such as: respiratory failure, ventilator dependence, complicated infections, chronic non-healing wounds, cardiac complications and surgical complications. In addition, AMG also offers services in the area of inpatient rehabilitation providing intensive physical rehabilitation to patients who have suffered traumatic injury.
For nearly two decades, our team has worked tirelessly to improve in nearly every facet of the business. We have grown a footprint that spans 8 states with an annual output totaling approximately 100,000 patient days. Team AMG has made it possible for thousands of patients to breathe without the aid of machines, to walk and talk independently – to live a better life. The work our team members put forth each and every day is truly meaningful and the need for our combined services continues to expand every day.
Unfortunately, with the stroke of a pen, major federal regulatory changes were imposed over the last two years. These changes resulted in a dramatic 40% reduction in Medicare reimbursement rates impacting over 50% of our patient population. This governmental rule change single-handedly set in motion a very hostile operating environment forcing a downward shift in financial stability. For this reason, our Company is now undergoing a reorganization and restructuring in order to appropriately adjust our delivery model and to protect and secure long-term viability for AMG, the patients we serve, and our employees.
In the best interest of our collective longevity, AMG’s Board of Directors have taken action to positively impact change in an effort to ensure a sustainable future. Effective immediately, Tim Burke has been installed as Chief Operating Officer and, Ben Miller as Senior Vice President of Hospital Operations. We are confident that our new team will provide the necessary leadership to navigate the organization to healthier times.
Our new leadership structure is focused and has already begun to implement positive change across the organization. We look forward to celebrating our success in the years to come.