Strange Tony,
Executives held a conference call on Kindred at Home's progress in splitting from mother ship Kindred Healthcare. Kindred bought Gentiva in February 2015. Hospice, home health and community care were strategic post-acute care services until December 2017 when Kindred executives and the board decided to cash in, lever up the subsequent companies and roll the dice that they could make yet another fortune in a few years time by partnering with financial rapscallions.
Thirty four and a half months of integrating companies had to be undone. Executives planned the split with change in control compensation and new equity positions swimming through their greedy heads.
KAH President David Causby updated the hospice division by introducing new senior executives, all from Curo Health Services. After a few moments of technical difficulties hospice employees heard the voice of our new chief, Larry Graham. He shared a lot of words about people he's worked with a long time and trusts, i.e. not Kindred. Graham and his predecessor made two different financial rapscallions big money, Thomas H. Lee Partners and GTCR Golder Ranuer. Larry enters the new arrangement with outsized pay, an equity stake not available to employees and massive incentive compensation.
Regional positions have both Kindred Hospice and Curo Health executives sharing roles. I expect the Curo people will mine the unbalanced brains of Kindred Hospice executives before sending Kindred leaders packing. Gentiva-Harden and Kindred-Gentiva employed a similar strategy of milking knowledge then jettisoning excess leadership.
Nearly every executive spoke about the importance of our people but not one mentioned fair pay, competitive benefits or the possibility of a raise. Fellow hospice employees at our site have gone years without a raise.
I learned after the call VP Toad is Curo material and been promoted. His new title is Senior Assistant Executive Vice President of Market Finance Compliance. Toad will hop in and inflate himself in any situation that threatens the future financial success of our Senior Executive Team, be it severe competitive disadvantage, financial peril from paying employees fairly or legal jeopardy from admitting and keeping patients that do not qualify for hospice.
How did an executive with poor people skills and unbalanced priorities get promoted? Apparently Toad's father-in-law works for one of the financial rapscallions intent on making a fortune from flipping Kindred at Home and the Kindred Hospital company. Greed is all in the family and our hospice is square in the middle of it.
A few long term employees are determined to keep hospice service levels up but it gets harder with each new hire. Experience out, question mark in. I wish I could identify the criteria for bringing new people in but at this stage it is not discernible.
With Toad's promotion our hospice will get a new Vice President. Unfortunately they can be worse. It seems improbable with Toad's multiple failings but Glassdoor comments indicate Larry Graham is up to the task of appointing someone less appealing.
Anonymous (at Southern KAHtivacare Hospice)
So who at Kindred At Home in the way of executive management are out of work now? How far down does it go? Are we talking about branch managers or Vice Presidents etc from KAH being replaced by Curo?
ReplyDeleteI recently learned things are no better on the Home Health side. On July 25th, KAH eliminated 85 or so positions nationwide. Most were mid-level managers such as AVPs, AVPOs, and ADSs. Many were very tenured employees with 5+ years of service. They were given no reason for the elimination and were not offered any other positions, Executives said they were "welcome to apply for any open positions". Ha!
ReplyDeleteThe responsibility of managing reports was pushed to either the AVP or other area managers close by - adding additional stress and far less leadership to already frustrated managers and employees. This was clearly done to reduce costs and "lean out" the mid-level managers that did all the heavy-lifting.
It sounds like the HH side is also adopting the Curo staffing model! At least 2 managers were called while on VACATION and told their position were being eliminated! Another glowing example that Kindred doesn't care about employees and solely focused on the bottom line. They have also begun quietly closing under-performing branches in Ohio, MA, CT and other areas as well. Many of the leaders who actually cared have been pushed out. All that is left are "Yes Men and Women" who tow the company line and act as mere puppets for their masters. Most have only been there a few years and are vastly under-qualified as leaders. This is the beginning of a long, further decline of what was once a decent company. Ben "Deal Junkie" Breier ran the company into the ground while collecting millions of dollars and no one seems the least bit outraged. Kindred's leadership behavior over the last few years could be a Movie of The Week on corporate greed. It's a shame.
Financial rapscallions will decimate patient care. Humana chose to partner with them when it could have bought the whole company and spun off the parts it didn't want for the cash it used to buy 40% of Kindred at Home. Kindred's board acted irresponsibly but employees and patients have paid and will pay the price.
Thank you to the Kindred employees who reached out to me to share your experiences.