Generic Hospice

When hospice reverts to the lowest common denominator and leaders obsess about metrics, it's time to speak. Self-inflated leaders assume clinicians give until their backs break, given no raises for years. A clinical ladder is a rainbow’s pot of gold. Others have a sorrier job and must be motivated by money. Abysmal leaders dangle extrinsic rewards for admission, hiring and EDBITA targets. “Sign on” bonuses entice people into a poor work environment. Employees’ voice equals their raise, zero.

Saturday, October 8, 2016

Kindred's "Optimize" Means Sell at a Loss

StrangeTony,

Kindred sold twelve long term acute care hospitals to Curahealth for $27.5 million in an optimatization move. The company will write down $99 million to $109 million in assets, netting a $37 million future income tax benefit. Even after the tax break for selling facilities at a loss Kindred will be $34.5 million to $44.5 million in the hole on the dozen LTACs. Management can spin it as a win, but it's clearly a loss.

What does this latest financial hit mean for the lowly employee? How much worse will Kindred benefits become in order for executive pay to grow? We'll know sometime in November.

Anonymous from Optimized Kindred

2 comments:

AnonymousOctober 8, 2016 at 6:40 PM
I am betting layoffs are next.
ReplyDelete
Replies
AnonymousOctober 16, 2016 at 11:56 AM
Kindred is on a downhill swing and Gentiva was already there before Kindred bought them. Bad business, but great patient care.
ReplyDelete
Replies

Add comment