Strange Tony,
Humana held its Q2 earnings call and Kindred got but a few mentions. Most of those are below:
In the home through our minority investment in Kindred at Home, we are piloting value-based care models in multiple markets and continue to see encouraging results from a standalone financial perspective for Kindred at Home, and from the standpoint of delivering improved clinical outcomes for our members. To usher in the next wave of integration, Humana and Kindred at Home have invested in an interdisciplinary team of clinicians responsible for taking the best practices gleaned from pilot markets and applying those learnings across Kindred’s broad geographic footprint.
... healthcare services is performing above expectations and we increased our adjusted EBITDA guidance for the full year by approximately $40 million ... Our home business, including Kindred at Home, is performing well.
....having new distribution channels that we’ve created, whether it’s Kindred or a PIPC or other areas where we can engage our members in different ways, that’s why we continue to invest those channels and in the technology that supports it so we can continue to manage our medical costs.
All of our costs are estimated, and so it’s important to identify these early warning systems that can allow us to identify the issues and then create the clinical programs and the customer engagement platform, and frankly the analytics to be able to identify who needs the intervention. We continue to invest in that. We’re nowhere near where we need to be.
I would say that the outperformance is pretty balanced across the board... Where we’re seeing, I’d say, greater percentage outperformance is on the Kindred side. ... the Kindred team is really executing on the business plan.
Humana's 40% interest in Kindred's earnings grew 300% from Q1. Historically the first six months delivered stronger hospice volumes and revenues than the latter half of the year.
Humana/Curo operated our Kindred Hospice as a cost center that needs massive ongoing cuts. So far dramatic reductions in service levels have not translated to reduced patient census. They have hurt billing. At one point our hospice had $750,000 in unbilled care. That's been cut in half.
Before Humana/Curo foisted cumbersome Homecare Homebase on our hospice our unbilled revenue rarely reached $75,000. That was under higher volumes.
Humana and partner financial rapscallions milk our hospice at the expense of quality clinical care. We're nowhere where we used to be.
Anonymous
A few months ago I was executed by the business plan, myself and five colleagues. All six of us provided significant customer service to patients and their families. There is no way a computer program could do what we did to help our hospice clients. When I run into former co-workers they look long in the face and torn in the heart. The dedicated ones express contempt for Humana/Curo and how they decimated our hospice in very short order.
ReplyDeleteI thought I worked for a hospice. It turns out I work for a Humana distribution channel. Greedy management can take the heart out of healthcare.
ReplyDeleteHumana has $1 billion to buy back stock on an accelerated basis. Right now Kindred at Home is producing cash for Humana. My hospice coworkers continue to be ignored at best, financially harmed at worst on a regular basis. They put the few nurses we have left on salary, took away their hourly and overtime pay.
ReplyDeleteStock buybacks help executives as fewer shares goose earnings per share. Humana/Curo only care about executives having a king's ransom. The little people get nothing or have pay/benefits taken away.
https://www.sec.gov/ix?doc=/Archives/edgar/data/49071/000119312519212049/d763123d8k.htm