Humana Leaves Mark on Kindred Hospice

Strange Tony,

In a high stakes poker game someone is always the mark.  It turns out our hospice was it.

“We have always been anticipating that we would divest a majority stake in hospice,” said CFO Susan Diamond. 

Never heard anything like that from our hospice line of chiefs until late 2021.  Word was we might be taken public in an IPO.  I don't think the financial media made that up.

Humana executives hit their mark by stealing wages/benefits from and lying to us from the start, so this isn't anything new.  Their multiple king's ransoms will remain on this earth when their soul answers for the damage they did to staff, patients and patients' families.

Anonymous

Broussard Cites Home Health Nurse Staffing Problem

Strange Tony,

Humana CEO Bruce Broussard spoke with CNBC's Jim Cramer yesterday.  Broussard said:

 "We do have a staffing problem in home health... we can get it, we're getting the help.."

Funny, CFO Susan Diamond said Humana was solving the nursing shortage problem by training more nurses and offering both sign on and retention bonuses.  

Training new nurses isn't a short term solution.  Sign on bonuses can actually increase turnover as extrinsically motivated nurses chase the next big cash bolus.

Cramer did not ask about hospice which Broussard plans to flip to yet another financial rapscallion.  How big with his bonus be for abandoning hospice staff to the next round of greedy owners?  

Anonymous

Humana Expands CenterHell

 

Strange Tony,

Humana converted Kindred at Home home health operations in fourteen states to its new brand CenterWell.  I call it CenterHell, a characterization reinforced by recent online employee reviews.

Those locations will get new signage and marketing materials as well as employee uniforms. apparel and other branded materials.

That brings back our original hospice conversion under Humana, TPG and WCAS.  Executives promised no changes, only to turn around and layoff key employees, cut the number of holidays as well as holiday pay and implement unreliable technology that purposely underpaid staff for hours worked and miles driven.

We got new signs and branded apparel but no raises.  I'll venture this conversion is similar.  Humana executives will get king's ransom bonuses for making it nearly impossible to deliver quality home healthcare.  Numbers matter to those at the top.

Anonymous

CDR to Buy Baby Formula Maker, Kindred Hospice

Strange Tony,

There's more information about our new hospice owners.  CDR is buying the baby formula division of Reckitt Benckiser.  Big's Matt Stoller writes:

Clayton Dubilier & Rice is one of the original gangsters of private equity, founded in 1978. It had classic pedigree; Jack Welch was an advisor. The firm is perhaps best known for shipping respiratory equipment out of the U.S. in the early days of the Covid pandemic, as well as the standard stripping of assets from companies it buys, and then letting them go bankrupt. So one can expect Clayton Dubilier & Rice, if it buys Mead Johnson, to attempt to raise prices on formula, or cut corners."

CDR can't raise prices on hospice so Kindred Hospice employees can expect more corner cutting.  As if Humana, TPG and WCAS didn't already expose our poor hospice's bones.  Lord, save us from financial rapscallions as they deliver evil.

Anonymous

Another Greedy, Tampering Owner for Kindred Hospice

Strange Tony,

Financial rapscallions TPG Capital and WCAS (Welsh, Carson, Anderson and Stowe) did not value employees at our hospice site after they took a majority ownership stake in July 2018.  Humana became the operating partner with 40% ownership.  Together they devalued our hospice employees.  It took a year for them to drive away experienced, talented, dedicated and caring hospice workers by implementing Curo Healthcare's sparse staffing models and complex, unreliable technology. 

Humana never equalized Kindred at Home benefits, even after buying out the rest of KAH from TPG and WCAS in August 2021.  They did improve the retirement match but it remains half of Humana's employee match.

The next round of abuse will come when Humana officially offloads the portion it just acquired to yet a different financial rapscallion, Clayton, Dubilier and Rice.  Consider what some CDR employees said on Glassdoor.

Management plays politics, associates + principles always look down at you, No rules for HR lady but all rules apply to all staff, partners expectations are ridiculous.  Fix up, stop playing political games, appreciate your staff 

Hostile environment within the administration team. Lack of professionalism and very much a cult like working environment. HR - a complete mess No new starters stay at this company...  Bad management.

They did not value the employees of the organization they acquired.  It's not all about money, people/employees matter.

CDR will continue President David Causby's "value add" to executive wallets and personal wealth accounts.  How does a hospice organization become an enrichment vehicle for greedy leaders and financial rapscallions?  The Senate Finance Committee is supposedly asking this question.  I'm afraid the answer will not come in time to save what is left of our once great hospice.

Anonymous 

Kindred Hospice's CDR Bids for Infant Formula

Strange Tony,

Financial rapscallion Clayton, Dubilier and Rice wants to buy a baby formula maker after winning 60% of Kindred Hospice/Community Care.  Greed from birth to death, it's the financial rapscallion way.

Anonymous

Humana Finally Reveals KAH Revenues

Strange Tony,

Humana has reported minimal information about Kindred at Home's finances since it became the 100% owner of the company in August 2021.  Today's Q1 earnings report had top line revenue of $726 million for KAH but not much more.   Assuming steady business throughout the year KAH would come in under $3 billion in revenue, i.e. less than when it acquired the company in July 2018.  Hospice has some seasonality so the number could come in over $3 billion.

Hospice had higher margins than Home Health when Humana closed last summer on the 40% it did not own.  Another sale of the hospice division to financial rapscallions should enrich CEO David Causby yet again.  He's on his __nth king's ransom?

Some may recall Causby's butchering of the Harden Healthcare integration (during the Gentiva days).  He combined Kindred Hospice with Curo Healthcare by keeping the brand salad and putting larger hospices under Curo's crappy technology and miserly staffing models.  

Anyone who remembers the torture TPG Capital, WCAS and Humana put our hospice through must be dreading Clayton, Dubilier and Rice.  

There has been no word on David Causby's response to the Senate Finance Committee's request for information on private equity ownership of hospice companies.  

I'd love to read a report before our hospice gets sold down the river yet again.

Anonymous