Strange Tony,
The second leg of our hospice buyout happened today. The first leg had Humana and two financial rapscallions purchase Kindred at Home. That occurred on July 2nd. Nine days later the same owners closed on Curo Health Services, another hospice provider with 245 locations. Prior news reports indicated Curo's management would lead Kindred at Home's hospice division.
Curo settled with the Justice Department in April 2017 for $12.2 million to make an investigation go away. Curo was accused of paying kickbacks for admissions. Curo's President Larry Graham has not publicly addressed the settlement.
Our new owners have confidence that Mr. Graham is the right man to lead the hospice segment. Graham does have a record of growing margins at Amedisys. Employees asserted the company manipulated patient assessments, as well as treatment plans, to maximize Medicare reimbursement.
Curo's average hospice census is 40 patients. Kindred at Home's average hospice census is 75 patients. Gentiva's Justice Department settlement for fraudulent billing occurred in February 2012.
Two have become one, under the ownership of three. The smaller will lead the larger. The more recently unethical hospice will head the division. Kindred at Home has 245 new little hospices with a documented history of cheating in the Dallas-Fort Worth area.
Something is moving. Our hospice employees will find out what soon enough.
Anonymous (from KAHtivacareplus hospice)
Does that mean that Kindred At Home Hospice division leaders/management prior to Curo, are out? Or will they be absorbed and kept?
ReplyDeleteThose questions are for David Causby and Larry Graham to answer. Much overhead/duplication needs to be cut to pay our dramatically higher interest expense, as well as numerous other fees imposed by our new owners.
ReplyDeleteHospice directors will get their new orders this coming week. Time will indicate how Kindred Hospice leaders fare under Curo's executive bunch and the WCAS-TPG-Humana consortium.
ReplyDelete