Addus HomeCare (ADUS) Oppenheimer 36th Annual Healthcare MedTech & Services Conference summary

Business performance and outlook

• Exited Q4 in strong shape, with only minor hiring challenges due to holidays.

• Hiring rebounded in Q1, positioning for a strong 2026.

• Personal Care segment targets 3%-5% same-store growth for 2026, with volume growth at 2%-2.5% and the remainder from rate increases.

• Hospice segment saw double-digit growth last year, expected to moderate to upper single digits; Home Health aims for mid-single digit growth.

• Sequential and year-over-year census growth expected to improve in key states, especially Texas and New Mexico.

Technology and operational initiatives

• Caregiver app adoption exceeds 90% in Illinois, improving scheduling and hours served.

• App rollout underway in New Mexico and Texas, expected to drive similar gains in hours per caregiver.

• AI is being used in hiring and payroll processes, with a committee exploring further applications for efficiency.

Regulatory and Medicaid environment

• Medicaid changes under OB3 pose challenges, but the business is not directly targeted and maintains strong state relationships.

• States that expanded Medicaid, like Illinois, show appreciation for Personal Care services; non-expansion states like Texas and New Mexico continue to provide rate increases.

• Illinois budget currently lacks a rate increase, but ongoing discussions may yield changes.