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CHEMED NEWS RELEASE Chemed Corporation * 2600 First Financial Center * 255 E. 5th Street Cincinnati OH 45202-4726 * CONTACT : David P. Williams ( 513 ) 762-6901 Chemed Reports First - Quarter 2021 Results CINCINNATI , April 27 , 2021 - Chemed Corporation ( Chemed ) ( NYSE : CHE ) , which operates VITAS Healthcare Corporation ( VITAS ) , one of the nation's largest providers of end - of - life care , and Roto - Rooter , the nation's largest commercial and residential plumbing and drain cleaning services provider , reported financial results for its first quarter ended March 31 , 2021 , versus the comparable prior - year period , as follows : Consolidated operating results : Revenue increased 2.2 % to $ 527 million GAAP Diluted Earnings - per - Share ( EPS ) of $ 4.01 , an increase of 18.6 % Adjusted Diluted EPS of $ 4.44 , an increase of 20.7 % VITAS segment operating results : Net Patient Revenue of $ 316 million , a decline of 6.5 % Average Daily Census ( ADC ) of 18,050 , a decline of 6.1 % Admissions of 18,135 a decline of 2.5 % Net Income , excluding certain discrete items , of $ 42.1 million , a decline of 1.0 % Adjusted EBITDA , excluding Medicare Cap , of $ 58.3 million , a decline of 3.3 % Adjusted EBITDA margin , excluding Medicare Cap , of 18.4 % , an increase of 66 - basis points Roto - Rooter segment operating results : Revenue of $ 212 million , an increase of 18.9 % Net Income , excluding certain discrete items , of $ 39.3 million , an increase of 47.3 % Adjusted EBITDA of $ 56.9 million , an increase of 42.1 % Adjusted EBITDA margin of 26.9 % , an increase of 439 - basis points VITAS VITAS net revenue was $ 316 million in the first quarter of 2021 , which is a decline of 6.5 % , when compared to the prior - year period . This revenue decline is comprised primarily of a 7.1 % decline in days - of - care offset by a geographically weighted average Medicare reimbursement rate increase ( including the suspension of sequestration on May 1 , 2020 ) of approximately 2.8 % . Acuity mix shift had a net impact of reducing revenue approximately $ 9.1 million , or 2.7 % , in the quarter when compared to the prior year revenue and level - of - care mix . The combination of a lower Medicare Cap and other contra revenue changes offset a portion of the revenue decline by approximately 50 - basis points . In the first quarter of 2021 , VITAS accrued $ 1.5 million in Medicare Cap billing limitations . This compares to a $ 2.5 million Medicare Cap billing limitation in the first quarter of 2020 . Of VITAS ' 30 Medicare provider numbers , 27 provider numbers currently have a Medicare Cap cushion