Strange Tony,
My hospice co-workers learned that our sacrifices of worse health insurance, fewer days off and lesser holiday pay went to enrich Humana by over $1.3 billion, according to their 2022 10-K SEC filing.
Humana reported a $237 million gain on the sale of 60% of KAH Hospice (since renamed Gentiva Hospice) to Clayton, Dubilier and Rice. Humana recognized a $1.1 billion gain on its original 40% stake when it purchased the rest of the company from TPG Capital and Welsh, Carson, Anderson and Stowe.
Our hospice team can feel proud that our personal and financial sacrifices helped enrich highly paid Humana executives.
Humana bought $280 million in KAH Hospice debt as well (debt issued under the corporate name Charlotte Buyer). Should CDR run KAH Hospice (Gentiva) into the ground Humana could be at the bankruptcy table as a creditor.
So far there is no financing information available on Gentiva's purchase of most of ProMedica's hospice division for over $700 million. ProMedica is keeping hospices in Ohio and Michigan.
Humana made over $1.3 billion on the backs of hospice workers with more profit in sight. It's a further sign of the greed that has overtaken hospice in our country.
Anonymous
Former corporate employee said:
ReplyDeleteCons
- HR manager and staff are frequently defensive and and openly talk badly about field employees - Senior leadership does not care to understand the challenges of staff at the field/branch level and are only concerned with their bottom line - I reported repeated sexual harrassment and racial slurs made by an employee who was higher up. Nothing was done for an entire year, never heard anything back on it. When I inquired, the answer was, "we'll talk to him", but it was clear he was being protected because of his status. It wasn't until a year later, when I was physically touched by a different employee and reported it, that anything was done about the first complaint. For the employee who touched me (also a higher-up), HR told me that, "that's just how he is". - Health benefits are very expensive and barely cover anything. I worked closely with the person who designed the benefits program, and they only care about money. - Management shares other employees' confidential information (PHI, etc) with people they like. I have been told by my management about a colleague's mental health diagnosis, which the employee told her in confidence. - Was made to attend a mandatory christmas party with the team packed into a conference room for hours, got COVID 2 days later. Was guilted for taking 2 days off to recover. - Micromanagement is rampant - Low pay for high-volume roles - Roles are typically packed with more work than realistically possible. Proposals for support staff to meet the demand are rejected because they're "running lean". - Zero positive feedback/encouragement/employee development. "No news is good news" mentality, you only hear about your quality of work if it's bad.
Advice to Management
Company culture was healthy and positive when the old CEO was still there. Bring back Core Values (or something like it), spend the money and staff appropriately so that goals are realistic to attain. Stop putting people who are the best at kissing up and terrible at managing people in leadership positions. Take time to understand the challenges employees face at the branch/field level. Discourage and discipline toxic behaviors, such as openly gossiping about other employees and gaslighting from HR.