Saturday, March 9, 2024

Gentiva: Indeed vs. Glassdoor


Strange Tony,

Gentiva executives are courting hospice clinicians on their Indeed site with promises of good work/life balance.  Glassdoor's Gentiva reviews reveal a broader picture, one less flattering to equity holding executives.  
 
A hospice nurse in Georgia said:  
"The corporate level cares little about the staff and will not hesitate to lay you off if the profit margin shifts for a quarter. They call you back to try to rehire you (saving on training a new person). Ridiculous. Job security is non existent even for top level branch management." 11-24-23
A North Carolina nurse offered in her pro statement "everyone is so ridiculously overworked."  Her con reply included:
This is a company that cares about profit, and little, if anything else. Just like with their patients-they will say anything to get you in the door, then leave you high and dry. Require you to care for patients over a huge service area, manage a ridiculous and unsafe number of patients, force you to work overtime, on call, do admissions. There is zero recognition for hard work and dedicated staff. Will lie to your face and cover for employees not doing their job. Benefits are a joke-worst coverage/highest cost I have ever paid for health insurance. Covers primary care preventative only unless you reach entire out of pocket deductible. No urgent cares “in network” within an hour of me. No one near me takes their dental-not even any of the people listed on their site.  6-6-23
Financial rapscallion Clayton, Dubilier and Rice closed on its majority Gentiva stake in August 2022.  They completed the Promedica Hospice buyout in November 2023.  New employees are often gobsmacked by things existing employee have been trained to accept (numbed).   

An employee new to Gentiva offered:
Recently bought out from Promedica Heartland. We we're told that nothing will change, however at least 10% of the staff have been laid off.  We are told we will never get a raise.  Our phones were taken away and basically everything is changing.  2-29-24
That has a familiar refrain.  When TPG/WCAS became our majority owners many dedicated employees lost their jobs.  The work did not go away.  We had to do it under new, crappy, unreliable technology and yes, they took away company provided phones, overtime pay and three holidays.  The new comprehensive hospice software stole hours and mileage from employees.    

Don't worry Promedica people, IT is there to supply you with hours of background music while you wait for a representative.  You might be lucky and reach an actual person.  HR is there to back management at every turn.  That generally works out poorly for clinicians.

A Pennsylvania hospice nurse wrote:
Salary position, no increases, no bonuses. Not paid for extra hours you work. No availability for nurses to work part time. It’s FT only. The work is independent which can be a bad thing if you need support or your superior to back you up on a decision you made.  You are promised one thing then management does the opposite, acting like that conversation never happened
Over and over I saw HR work against employees with legitimate concerns.

Under financial rapscallion ownership our clinicians learned that patients only became ineligible for hospice as a new certification period approached.  Area Medical Directors indicated there was no need to discharge a patient who no longer met hospice criteria because of our good care.  They said the certification is still good for however long.  Our hospice medical director disagreed but had no power. The TPG/WCAS/Humana way meant weeks of fraudulent billing.  

Promedica employees should know accessing the Compliance Department generally involves a quick exit from Gentiva.  Principled people are not appreciated.  

Gentiva cares for its clinicians?  Indeed, they don't and haven't for quite some time.

Anonymous

Wednesday, March 6, 2024

Gentiva Debt, Humana Trophy Office: Not Cheap


Strange Tony,

Gentiva Hospice's debt has several tiers.  Its first lien senior secured debt pays holders 10.1% annual interest, while the second lien senior secured debt pays 13.08%.  Both are floating rate and mature in 2028.  

This debt is far more expensive than prior issuances.  Interest expenses are up by 50 to 80% from prior debt offerings.  That means less money for staff or more important, patient care.

Humana and financial rapscallion Clayton, Dubilier and Rice issued Gentiva's debt via another corporate entity, Charlotte Buyer.  It's address is 500 W. Main Street in downtown Louisville.  Founder David Jones felt strongly about Louisville and built Humana's distinctive headquarters building in 1980's at that very address.

WDRB reported

Humana, the only Fortune 500 company headquartered in Kentucky, plans to vacate its iconic, 27-story headquarters building at 500 W. Main St. in a cost-cutting move, leaving a massive structure to fill in a downtown already struggling with a glut of empty office space.

As WDRB documented in 2022, many of Humana's top executives are based in a newer office outside Washington. And for the first time in company history, the CEO's job no longer requires living in Louisville.
It turns out Humana CEO Bruce Broussard was playing a confidential switch game, leaving Louisville for Washington, D.C., the center of power and influence.  Consider this report:

About the same time the Broussards sold their Louisville condo, Humana finished work on a new "trophy" office space for "executive leadership" in a high-rise building in the Rosslyn neighborhood of Arlington, Virginia, just across the Potomac River from the nation's capital. 

In May 2019, a trust in the name of Broussard's wife, Janine, purchased a $4.4 million home in the ritzy Kalorama neighborhood of Washington, where former President Barack Obama, Ivanka Trump and Jared Kushner, and Amazon CEO Jeff Bezos have had homes, according to public real estate records.

Humana's one-floor office in the Washington area represents a tiny fraction of its presence in Louisville, and no one close to the company knew of any plan to move its headquarters.
Humana made $1.3 billion in profit from flipping our hospice numerous times.  Those funds may have gone to Broussard's trophy office.  

Broussard is Chair of the Trust for the National Mall and Humana sponsored pickleball there in Fall 2023.  One doesn't get that opportunity from Louisville.


Douglas Edwards, Humana's senior vice president for enterprise associate and business solutions, and his wife sold their Louisville home in July and moved to Charlotte, North Carolina in summer 2022.  Is that the event that inspired the name "Charlotte Buyer?"

Only the executives know.  

Anonymous