Strange Tony,
Our hospice is being sold yet again. Humana held its Investor Day and bragged on the return it may get. Rest assured my coworkers have seen very little reward for the torment we've endured under Humana and two financial rapscallions.
The rug was pulled out from under long suffering employees who said, "Just wait until Humana buys the rest of us. Things will get better." No, they will not.
With every buyout the level of staff abuse increased. Humana's abuse has been particularly cruel to both staff and the quality of hospice care delivered.
Home health will stay with Humana and be forced to grow fee-for-service business while saving Humana money on its various insurance products. The Kindred name will disappear, replaced by Humana's payor agnostic CenterWell. One could put the green Humana H in the middle of that and get CenterHell.
That's likely the future of healthcare.
Anonymous
"Greed is not good. Greed is a disease, an aberration of honest ambition and necessary provision, taken to excess. This simple distinction may be lost on a people no longer able to distinguish between virtue and sin, honor and expediency, appetite and gluttony, the means and the ends. Every great religion, every school of philosophy has cautioned throughout history on the perils of unbridled and unregulated greed.
ReplyDeleteAnd yet this generation would make a god of it, although they may not understand, or care, what it is that they are doing, and whom it is they serve. And yet they will be held to account for their willfulness, foolishness, and casual disregard for others.
Greed, often in company with hubris or fear, is a handmaiden of the corrupting influence of power and triumph of the will.
Greed is contagious, and attacks the very contentment of society at its heart, turning it towards oligarchy and oppression. As Erich Fromm observed, 'Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction.'"
https://jessescrossroadscafe.blogspot.com/2010/12/hudson-financial-interests-dictate.html
Hospice News wrote "Humana set to make bank on Kindred at Home Hospice Spin Off, Sale"
ReplyDeletehttps://hospicenews.com/2021/06/22/humana-set-to-make-bank-on-kindred-at-home-hospice-spin-off-sale/
Banner year for financial rapscallions that bought Kindred in 2018. It's a double sale!
ReplyDeleteWhat's left of Kindred Healthcare will be sold to LifePoint Health, an affiliate of financial rapscallion Apollo Global Management.
WDRB missed that WCAS/TPG are selling the specialy hospital company minus Rehabcare to fellow rapscallion Apollo.
Apollo was founded by Leon Black, close associate of Jeffrey Epstein. Black funded Epstein's disturbing child molestation with absurd payments, far greater than any financial professional would receive.
https://www.wdrb.com/in-depth/tennessee-company-to-buy-louisvilles-kindred-healthcare/article_0d496ee4-d2d2-11eb-8b81-4721b364a5c6.html
Texas RN is experiencing Huamana's CenterHell at Kindred Hospice:
ReplyDeleteAbsolute lack of communication between field and mgmt employees. There are no clearly defined policies for the referral or admission process and the “rules” change for everyone. Lack of leadership and no support for field staff. High turnover, poor patient satisfaction scores, no raises(!)
I am still employed out of commitment to my patients but don’t anticipate staying there much longer. There is no loyalty no appreciation no recognition for the work we do on a daily basis and the sacrifices we and our families make to do this work.
Pros
Flexibility
Cons
Too many to list
https://www.indeed.com/cmp/Kindred-Hospice/reviews/discouraged?id=fac8dff242332dbb
Humana's massive profits from double flipping our hospice (the 40% plus the 60%) give support to the investor who said the initial deal was "grossly inadequate."
ReplyDeletehttps://www.courier-journal.com/story/news/local/2017/12/27/kindred-sale-humana-brigade-capital-management/985252001/
Kindred sold cheap with many employees losing money on their stock purchase plan, a supposed benefit.
https://generichospice.blogspot.com/2018/07/kindred-sold-cheap-curo-went-for-far.html
Humana's new CFO spoke alot about home but no mention of hospice at all.
ReplyDeletehttps://homehealthcarenews.com/2021/06/changemakers-susan-diamond-home-business-segment-president-humana/
Private equity firms are buying hospices left and right.
ReplyDeleteHumana stands to gain significantly from divesting its hospice segment, likely seeking a substantial price for the asset.
https://hospicenews.com/2021/06/30/hospice-ma-riding-high-on-demographic-tailwinds-but-staff-shortages-threaten-growth/
Kindred Hospice executives will garner a king's ransom twice, while hospice employees stand to gain nothing.
Humana plans to spin off and sell the hospice portion of the business while holding on to the home health segment. This will allow the insurance company to capitalize on record-high multiples in the hospice M&A market.
ReplyDeleteKindred Hospice employees get nada.
https://hospicenews.com/2021/06/29/diamond-named-humanas-cfo-home-business-president/
"A new poll from job platform Monster.com found that 95 percent of workers are thinking about finding a new job, and 92 percent would consider switching industries for a new position. The top culprit, pollsters found, was burnout."
ReplyDeleteHumana burned out our once great hospice, now a shell of its former self.
https://www.nbcnews.com/business/business-news/you-re-not-only-one-who-s-had-enough-95-n1272701
Humana's decision to ditch hospice is strange given it is in a demonstration project to include the hospice benefit under Medicare Advantage.
ReplyDeleteRestricting access to care is another way for Humana to show its greedy nature.
ReplyDeletehttps://www.healthimaging.com/topics/economics-policy/humana-reverses-petct-payment-restrictions
Humana will ditch hospice buy may get into skilled nursing for the home.
ReplyDeletehttps://www.mcknightsseniorliving.com/home/news/home-care-daily-news/exec-humana-to-continue-looking-for-ways-to-improve-home-care-offerings/
The person over Humana's home efforts, i.e the one who decided to flip our hospice for huge payday, has been promoted to Chief Financial Officer.
ReplyDeleteAs compensation for her service as the Company’s Chief Financial Officer, Ms. Diamond will receive compensation as follows:
• base salary of $750,000;
• participation at the 100% target level in the Company’s short-term incentive plan under the same terms as other Company executive officers;
• a long-term equity incentive grant comprised of (a) $400,000 of restricted stock units, and (b) $400,000 of options, in each case with time-based vesting ratably over the next three years;
• participation in the Company’s Severance Policy and Change in Control Policy, which provide for benefits upon certain qualifying terminations of employment, consistent with other Company executive officers;
• matching charitable contribution benefit of $30,000 annually; and
• other benefits commensurate with service as an executive officer of the Company.
Maybe they can donate to our wonderful CNA's. I don't believe they make over $30,000 a year.
Hospice carve in with Medicare Advantage would be a reason to keep Kindred/Curo hospices.
ReplyDeletehttps://hospicenews.com/2021/07/15/education-for-health-plans-a-key-to-success-in-ma-hospice-carve-in/
Greed is the reason for the sale and employees will once again suffer.
Former Humana employee highlighted "the Bad" part of the company:
ReplyDeleteCut throat culture, sales mean more than anything, surveys geared at targeting for removal, reduce compensation every chance they get and expect you to be happy about it, nepotism, discrimination by use of technology to route calls based on the sound of voice of consumer and employee, archaic systems, unwilling to allow employees to utilize modern day tech, creativity is not allowed and frowned upon, and the ultimate Corporate attitude of sit down, don't ask questions, shut up, and do your job.
Great place for recent Grads, to learn about medicare, or above 40 years old and have ageism protection. It's worth it to work here just to meet all the various walks of life. Just realize you cannot be your true self.
https://www.indeed.com/cmp/Humana/reviews/excellent-training?id=97ce31ad2a5429b6
I always enjoyed his blog, though was never able to keep up with all of his posts. He often had very cool links to things as well.
ReplyDelete