Monday, September 27, 2021

Kindred Hospice/Curo Health Sale: Private or IPO?


 

Strange Tony,

The Senate Finance Committee's letter to Kindred at Home CEO David Causby had a September 3rd deadline for response.  The Senate Committee asked for detailed information on finances and operations.  The committee missed two significant areas in their letter, executive stock ownership and Humana's role as operating partner alongside two financial rapscallions.

Will the Senate letter steer Humana to sell Kindred Hospice/Curo Health to yet another financial rapscallion instead of conducting an independent public offering (IPO)?  Such a move would keep financial statements away from public scrutiny.   

Our hospice continues to implode under 100% Humana ownership.  Most of the Mean Girls fled the sinking ship and are now with competing hospices.  I am sure they will continue their damaging ways there.  Meanwhile, Humana's reign of error continues.

Anonymous

11 comments:

  1. The wage theft continues:

    Lots of off the clock "paperwork" on the laptop and making phone calls to patients or family members or PCP offices, Typically did 2+ hours documentation on my own time, 7 days per week.

    https://www.glassdoor.com/Reviews/Employee-Review-Kindred-at-Home-RVW52218057.htm

    ReplyDelete
  2. No IPO yet but Humana is suing Merck for overcharging on drugs and Biogen for shady practices.

    Interesting as under Humana ownership corporate made it much tougher to live discharge hospice patients who no longer met Medicare hospice eligibility requirements. It was both overcharging and shady.

    ReplyDelete
  3. Aveanna went public earlier this year. BrightSpring Health just published a S-1 for its planned IPO. BrightSpring purchased Abode Hospice a few months back.

    A BrightSpring employee said "Nothing Good at All" on Indeed:

    I worked for the company for almost 5 years total. (It was ResCare before BrightSpring bought it but new ownership just made it even worse.) I started in 2015 at $8.75/hr. It started out okay and then management changed and continued to change over and over and over again through the few years I was there. When I quit, I was making $9.33/hr and was being forced to work over 18 hours a day. This job is the absolute WORST on any person’s mental health. The management do not care about the staff or those we took care of. It’s always been just a paycheck for all management. I would not EVER recommend someone working for them.

    https://www.indeed.com/cmp/Brightspring-Health-Services/reviews/nothing-good-at-all?id=ad853de143dafc26

    ReplyDelete
  4. AM Best says IPO is still on:

    Humana plans to divest its majority stake in Kindred At Home’s hospice and personal care services through an IPO. Humana is expected to delever over the near to medium term utilizing the proceeds of the IPO in combination with continued favorable earnings.

    https://finance.yahoo.com/news/am-best-affirms-credit-ratings-194000304.html

    ReplyDelete
  5. With Humana taking over management is more concerned with numbers than quality. Since about June/July we are no longer doing our actual job, just desperate attempts to have large numbers. Staffing is getting very low with a promise every other month of bringing on new people, but it doesn't happen.

    ReplyDelete
  6. Humana case manager said:

    If you love micromanagement and having your performance based on computer engagement instead if actual provider or member engagement and impacts then this is the place for you. If you love a health services organization leadership team that's insecure and threatened by associates that are capable of thinking outside the box, not afraid to ask the hard questions, brainstorm on potential opportunities, then this is the place for you. If you don't mind being on a 59 second leash bc the computer engagement matters more than member and providers then you should apply. If you value working for a company that care about members, providers, and associates then Humana is NOT for you. Simply put, don't apply.

    Pros
    None i can think of

    Cons
    Micromanagement, Health Services Organization leaders insecure and incompetent, care more about computer engagement than the members and providers, backstabbing lying Health Services Organization leaders and reports

    ReplyDelete
  7. Curo Health's Regency Hospice community education coordinator in South Carolina said:

    The company has extremely high turnover and the monthly goals were unreachable. There is a disconnect between corporate and the employees on the front lines.

    Pros
    None

    Cons
    The company had extremely high turnover and the monthly goals were unreachable.

    ReplyDelete
  8. Regency Hospice RN in Florida said:

    Love working in hospice. Management is overbearing, disrespectful and micro manages. Lied to at beginning of hiring process about pay and duties/hours to be worked until you've signed. Contract for salary pay. List could go on.

    Pros
    None

    Cons
    Hours, pay, management

    ReplyDelete
  9. Curo Health's New Century Hospice Chaplain in Colorado experienced wage and mileage theft:

    Each individual site may vary as far as culture and supervisor. But the company does not pay fairly and often short us on our milage. When extra support is needed they give lip service but no actual support.

    Pros
    Doing rewarding work

    Cons
    Poor pay, empty promises, no interest in employees

    ReplyDelete
  10. Texas CNA said New Century Hospice did not have their back:

    I would never work got these people again. Very poor leadership skills. They only care about themselves and the money they can make off the patients.

    The official response included "I can be reached at experience@kindredathome.com, or you may call our compliance hotline at 1-800-359-7412."

    ReplyDelete
  11. Curo Health's Avalon Hospice RN in Tennessee said:

    If you enjoy having no life outside of your career, picking up 3x your case load, managing said case load and also being required to pick up multiple nights of call + admissions, all while adhering to ridiculous deadlines and being micromanaged beyond what you ever thought possible…this is the place for you. Literally, the only positive thing about this company is patients that come through…and they are all suffering at the hands of corporate management. Employees may do the best they can, but they are overworked, over-criticized, overstressed , and under appreciated.

    Pros
    The patients. That’s it.

    Cons
    No autonomy, No life outside of your career, Inability to give proper care, Horrible management, Unrealistic expectations.

    ReplyDelete