Strange Tony,
Kindred Hospice executives will have riches beyond measure for dropping a neutron bomb on our hospice. A neutron bomb wipes out life but leaves buildings standing. With staff decimated they moved us to another building, smaller and cheaper.
For selling on the cheap Kindred at Home management got an equity stake alongside Humana and two financial rapscallions in 2018. The overall equity stake of all parties rose from $1.66 billion in 2018 to $5.2 billion in 2021.
KAH executives will make 212% profit on their slice of the company. Compare that to hard working hospice employee raises, mostly nonexistent, over the same three year period.
Employees experienced 33% fewer holidays and a 50% cut in holiday pay so executives can have yet another king's ransom payday.
Humana will add to the injury by jettisoning the hospice division under the same person who sacrificed many of my hospice peers for his personal gain. Greedership is a piss poor model of management, but it is what we continually endure.
Anonymous (being sold for the seventh time)
So a major production line with KAH is generating huge dollars for executives. I thought we were supposed to be in the hospice care business.
ReplyDeleteKindred Hospice sites were twice the size of Curo's. After they put our hospice under the Curo model our census dropped in half. It took a few years but Humana, David Causby and Larry Graham decimated our once great hospice.
ReplyDeleteFraud fuels executives big payday. Texas administrative assistant said "Favoritism"
ReplyDeleteIf you happen to notice the fraud that is done and mention it you are on your way out the door, the rules do not apply to everyone. And the management will discuss management stuff with office staff that are going to "Get onto the coordinators" .. bit yet discussing it with certain coordinators
Pros
If you're dependable then usually can get off what you need with our hassle
Cons
Favortism, fraud
https://www.indeed.com/cmp/Kindred-At-Home/reviews/favoritism?id=25f9e882d3c41cd2
Executives underpay staff so they can have their big payday:
ReplyDelete"You work M-F and still have to chart at home. For the work that you do, they should be paying more. They give you more case load than what was promised."
https://www.glassdoor.com/Reviews/Employee-Review-Kindred-Hospice-RVW47914214.htm
Executives know this and are happy to engage in wage theft.
Recall Kindred sold out for a mere $782 million in their $9 per share deal. That was for both the home health/hospice/community care and post acute care hospital side of the business.
ReplyDeleteEquity for Kindred at Home alone is $5.2 billion, well over ten times the original equity in the stock sale.
https://www.courier-journal.com/story/news/local/2017/12/27/kindred-sale-humana-brigade-capital-management/985252001/
After winning on Kindred at Home and Kindred Healthcare financial rapscallion TPG may go public.
ReplyDeletehttps://www.bloomberg.com/news/articles/2021-06-30/private-equity-firm-tpg-considers-going-public-dow-jones-says