Strange Tony,
Humana's top strategic accomplishment was buying Kindred at Home and Curo Health Services. The SEC filing does not mention how Humana and its it financial rapscallion partners crammed Kindred's hospice division under Curo Health Services. Curo then installed cumbersome, unreliable technology, decimated our office staff and created mountains of new non-value added work. It is now difficult to give care, be paid fairly or accurately for hours worked and miles driven.
The filing does not state that Humana matches up to 6% for employee retirement, while Kindred at Home gives a mere 1% for those saving 4% in their 401k.
The SEC document stated Humana made an extra $33 million thanks to its complicated buyout deal for Kindred at Home. Before Kindred Healthcare was carved up by investment companies it contributed a mere $4,4 million toward employee retirement.
Humana matches charitable contributions by board members up to $40,000. We have numerous staff members that don't make $40,000 in a year. Many of those staff members have gone years without raises.
Humana executives recently were awarded stock compensation. Most received multi-millions in pay for 2018. As a fish rots from the head down so do we. There is something significantly wrong in our hospice.
Anonymous
Don't forget our new owners took away two holidays for 2019, a 22% reduction.
ReplyDeleteAlso, health insurance got way worse under Humana and its private equity partners.
ReplyDeleteIt's heartbreaking to see long term dedicated employees consistently shorted on pay and mileage by our new GIGO software.
ReplyDelete"Since this company has taken over they have messed every paycheck."
https://www.glassdoor.com/Reviews/Employee-Review-CURO-Health-Services-RVW25046142.htm
I smell a wage and hour complaint from staff at our hospice site. Local management is aware that HCHB shorts staff for hours worked and actual miles traveled and does not care about their huge error rate. It is a management basic to pay people fairly and accurately for hours worked and miles driven in the course of business. Humana's choice of HCHB fails miserably this basic competence.
ReplyDeleteAnd today's HUM investor day, grabbed their slideshow at SeekingAlpha. Lots of slides, but the saddest one so far points to their joint venture with WCAS and TPG as an example of employing capital "efficiently and creatively" because it reduces HUM "management distraction." Does that mean leave it all up to the rapscallions?
ReplyDelete