Wednesday, February 19, 2014

Corporate Earnings Late and Dire Site Fate


Gentiva is yet to issue its 4th quarter financial results, something it has done by now the last seven years.  The earliest the company released earnings was February 7 and the latest February 18.  Here we sit at the 19th with no word on 2013 results.

These numbers will serve as the basis for executive incentive pay for Gentiva's corporate crew.  I wonder how senior executives optimized their pay to the detriment of employees, patients and physicians.  We'll have to wait several months for the proxy statement (Def-14a) to see what fun they had on the backs of hard working, caring and dedicated employees.  As opposed to most employees who received miniscule, if any raises, I expect their returns to be substantial.

Last week a corporate chief visited our site.  He talked about how great everything was.  Nobody believed him.  Most couldn't believe he had the gall or ignorance to make such a claim.  One third of our nurses had quit, were laid off or fired since the New Year.  He acted like this had not happened.  I expect that number to grow substantially in the months ahead.

Remaining nurses know they'll be over-worked and under-appreciated more than normal.  I sense a number will throw in the towel.  They've been a part of the solution many times, only to be denigrated and abused when staffing returns to more sane levels.

I also expect the exodus to spread beyond nursing.  Chaplains, social workers and others have ridden our Branch Manager's crazy train long enough.  It might be time to jump off no matter how fast or reckless the ride.

I hope things are better at Generic.


P.S.-- Gentiva announced today its earnings call will be held March 4.  It should be revealing.  As for our site's turnover, it keeps rising.


  1. Where do I buy the shirt?

  2. Thanks for keeping us updated. When you're out there in the trenches you never hear about the bigger perspective, other than the Gentiva "happy world" propaganda BS.

  3. work with at a hospice that is the process of being aquired by Gentiva, quite an interesting trip so far. is no information the norm for communication?

  4. No information is the norm at our site. Corporate people visit but they stay bottled up in our Branch Manager's office. I've worked for a number of healthcare companies and this one is an information black hole. I've had no budget at all for my area. That's over four fiscal years. They not only fail to communicate, their strategy changes frequently with little to no notice. It's like they play hide the ball with the most basic information staff need to understand their role, to do their job well and support the company's bigger picture efforts.

    Of course, how many staff want to give the extra effort for leaders who cut their PTO accrual by 40 hours?

  5. We are starting to see similar effects. Our mgnt wanted to bring us all over for a tour of the gentiva office we were told only a few as "their people" were not as informed as we were. sounds ominous.

  6. Frankly, I learn much more about Gentiva's, especially the Hospice division's strategy from the quarterly earnings call than I ever get from onsite management or area VP's.

    Today's earnings call was a major bomb. It felt like Wall Street analysts have zero confidence in Tony Strange's ability to make a projection, even one as short as three months (4th quarter). We'll see how many downgrades follow today's dismal earnings call.

  7. what is so strange about tony?