Careers at Kindred Healthcare
Kindred Healthcare operates a network of medical and healthcare facilities across the US, with a view to providing effective transitional care to post-intensive care patients, and the aim of reducing hospital readmissions.
Kindred Healthcare organises its operations into six operating segments, which are aggregated into four reportable divisions:
- Hospitals, comprising the Company’s operation of a network of transitional care hospitals, through which it provides long-term acute care services to medically complex and post-intensive care patients;
- Kindred at Home, comprising the Company’s provision of home health, hospice, and community care services for patients in a variety of settings, including their homes, nursing centres, and other residential settings;
- Kindred Rehabilitation Services, which operates inpatient rehabilitation hospitals and acute rehabilitation units that provides rehabilitation services, including physical and occupational therapies and speech pathology services, to residents and patients of nursing centres, hospitals, outpatient clinics, home health agencies, and assisted living facilities; and
- Nursing Centres, which provides a full range of medical, nursing, rehabilitative, pharmacy, and routine services to short-stay patients and long-stay residents across its national network of nursing centres and assisted living facilities.
Kindred Healthcare was founded in 1985 by Bruce Lunsford and Michael Barr, operating initially under the name Vencare Inc. The Company changed its name to Vencor Inc in 1989 to coincide with its public listing on the New York Stock Exchange, following which the Company expanded and saw its stock prices steadily climb. The Company made a number of acquisitions in the 1990s, most notably the $1.6 billion acquisition of nursing home operator Hillhaven Corporation in 1995.
Planned cuts in Medicare reimbursement for nursing homes and home health care providers, however, provided troublesome for the Company, which consequently split its operations into two companies in 1998. The original Vencor company adopted the name Ventas and began operating as a real estate investment trust that owned hospitals and nursing homes, while a new company was established under the Vencor name to Vencor Inc. name to manage the Company’s hospitals and nursing homes.
Vencor ultimately filed for Chapter 11 bankruptcy protection in 1999, and following its reorganisation, the Company rebranded as Kindred Healthcare. The Company has since stabilised and operates one of the largest networks of transitional care hospitals in the US. It generates significant annual revenue, and is placed 372nd on the Fortune 500 list. Kindred Healthcare continues to trade shares on the New York Stock Exchange, and has a current market capitalisation of $900.27 million.
Business model of Kindred Healthcare
Kindred Healthcare’s customers principally comprise post-intensive care patients and sufferers of long-term acute conditions. Kindred Healthcare primarily seeks to serve patients that have spent time in hospital, transitioning their care from managed facilities to their own homes. This includes short-stay patients through its network of nursing centres.
While the Company’s end customers are its patients, the Company derives its revenue primarily from third-party payors, including government reimbursement programs such as Medicare and Medicaid and non-government sources such as Medicare Advantage, Medicaid Managed, commercial insurance companies, health maintenance organisations, preferred provider organisations, and contracted providers.
Kindred Healthcare operates across the US, operating a network of facilities that spans 46 US states. The Company does not serve an international customer base.
Kindred Healthcare provides value to its customers in the following ways:
- Its diversified portfolio of services, with the Company providing a range of care options and services through its transitional care hospitals, home health and hospice operations, rehabilitation facilities, contract rehabilitation services, and nursing centres.
- The quality of its services, with the Company established as a provider of quality and reliable transitional care services, having a good reputation within the industry;
- Its specialist personnel, with the Company employing qualified nurses, therapists, physicians, clinical associates, home health and hospice employees, and other specialist healthcare professionals across its operating segments, and a team of experienced industry executives;
- Its use of innovative technologies, with the Company implementing state-of-the-art information technology systems and technologies in order to enhance the efficiency of its operations; and
- Its broad domestic reach, with the Company’s network of facilities spanning 46 US states, providing access to care in local facilities for much of the US population.
Kindred Healthcare operates a website at www.kindredhealthcare.com, through which it provides information on its various services, facilities, and activities. The Company also operates an online paperless pay service, which allows patients to pay for services digitally.
Kindred Healthcare operates sales and marketing teams that are tailored to each of its operating segments, and are organised by geographic region. The Company provides its services directly to customers through its workforce of nurses, therapists, physicians, clinical associates, home health and hospice employees, who serve patients through the Company’s network of facilities.
Kindred Healthcare’s facilities comprise 95 transitional care hospitals, 604 community care and home health locations, 18 inpatient rehabilitation hospitals, 100 hospital-based acute rehabilitation units, and 90 nursing centres.
Kindred Healthcare operates a self-service online paperless pay services, which allows customers to pay for services independently, without interacting directly with members of the Company’s sales and marketing teams.
Kindred Healthcare’s sales staff consult directly with customers in order to establish the most appropriate form of care for each individual patient. The Company subsequently provides a significant degree of personal care to patients through its team of medical staff, operating across its network of healthcare facilities. Patients are provided with all aspects of care, and have access to healthcare professionals for advice and assistance at all times.
Kindred Healthcare provides a range of information to customers on its websites, including up-to-date coverage of Company activities through its blog. Customers are also able to contact the Company directly with enquiries and complaints by post, over the phone, and via an online contact form.
Additionally, Kindred Healthcare operates several social media accounts – including with Facebook, Twitter, Pinterest, YouTube, Google+, and LinkedIn – through which it is able to interact with customers directly.
Kindred Healthcare is a US-based healthcare services company. The Company organises its operations into four principal business segments: Hospital, which provides long-term acute care services through the operation of a national network of approximately transitional care hospitals; Kindred at Home, which provides home health, hospice, and community care services; Kindred Rehabilitation Services, which provides rehabilitation services through its network of inpatient rehabilitation hospitals and acute rehabilitation units; and Nursing Centres, which provides care through the operation of a national network of approximately nursing centres.
Kindred Healthcare collaborates with a range of companies and organisations across its operating segments. These partners include:
- Supplier and Vendor Partners, comprising suppliers of equipment, tools, and drugs for use across its medical facilities, and suppliers of services and technologies that are utilised throughout the enterprise;
- Non-profit and Community Partners, comprising a range of charitable and non-profit organisations, with which the Company collaborates on various community and social projects;
- Healthcare Partners, comprising various healthcare facilities and organisations, with which the Company collaborates in sharing resources and information and devising methods by which to reduce hospital readmissions; and
- Educational Partners, comprising various academic institutions, with which the Company cooperates on educational programs and training schemes.
Kindred Healthcare has educational partnerships with Webster University and Western Governors University, and has partnered with a number of acute care hospitals – including Mercy Hospital in St. Louis – as part of its Health Information Exchange and in relation to the national Hospital Readmission Reduction Program.
Kindred Healthcare’s key resources are its supply chain, its healthcare infrastructure and medical equipment, its IT and communications infrastructure, its partnerships, and its personnel.
Among Kindred Healthcare’s key resources are its owned and leased properties, notably its national network of transitional care hospitals, comprising transitional care hospitals, community care and home health locations, inpatient rehabilitation hospitals, hospital-based acute rehabilitation units, and nursing centres, as well as its network of offices.
Kindred Healthcare’s ability to attract and retain well-trained and experienced medical professionals is also key to its ongoing operations, notably its extensive team of nurses.
Kindred Healthcare incurs costs in relation to the procurement of medical supplies and equipment, the management and operation of its healthcare facilities, the maintenance of its IT and communications infrastructure, the management of its partnerships, and the retention of its personnel.
In 2015 Kindred Healthcare’s largest expense related to the payment of salaries, wages and benefits to its 53,600 full-time and 48,400 part-time and per diem employees, which amounted $3.61 billion. The Company also accrued significant costs related to the procurement of supplies and the payment of rental fees, which totaled 384.65 million and $382.61 million respectively.
Kindred Healthcare generates revenue through the provision of various transitional and rehabilitative care to patients across the US. The Company’s revenue is derived primarily from third-party payors, in particular government reimbursement programs such as Medicare and Medicaid, as well as health maintenance organisations, commercial insurance companies, preferred provider organisations, and health maintenance organisations.
In 2015 the Company generated annual revenue of $7.05 billion, up considerably on the $5.03 billion recorded by the Company in 2014. The Company’s Hospital segment is the Company’s largest revenue generator, accounting for $2.44 billion of the Company’s revenue for 2015. This was followed by the Kindred at Home segment, which generated $2.24 billion.
info: Benjamin Breier has served as President and Chief Operating Officer of Kindred Healthcare since 2012. He first joined the Company in 2005, serving as President of the Company’s Rehabilitation Division. He was named Executive Vice President and President of Kindred Healthcare’s Hospital Division in 2008, and in 2010 was appointed Chief Operating Officer. Prior to joining Kindred Healthcare, Breier worked at Concentra, initially as Vice President of Operations from 2001, and later as Senior Vice President of Operations from December 2003. From 1997 he worked at Premier Practice Management, a subsidiary of Premier Inc, where he served as Director of Operations, Chief Operating Officer, and Chief Executive Officer in June 1998. Before joining Premier Practice Management, Breier served as Assistant Vice President at Baptist Health Systems.
info: Kent Wallace (“Wallace”) has served as Chief Operating Officer and Executive Vice President at Kindred Healthcare since joining the Company in 2015. Wallace began his career in hospital management, serving as Chief Financial Officer at various HCA hospitals from 1981 to 1987. He went on to join Healthtrust Inc, where he served initially as Regional Assistant Vice President, and later as Vice President. Wallace went on to join Vanguard Health Systems, where he held a series of senior leadership roles, including spells as Senior Vice President of Operations, President, Chief Operating Officer, and Chief Executive Officer.
info: Stephen Farber (“Farber”) has served as Chief Financial Officer and Executive Vice President of Kindred Healthcare since 2014. Farber began his career as an investment banker with JP Morgan, and Donaldson, Lufkin and Jenrette, where he focused on healthcare mergers and acquisitions and leveraged finance. During this time, he led the financial restructuring of Rural Metro, the second-largest ambulance and fire service operator in the US, and was involved in various private equity efforts. He went on to join Tenet Healthcare Corporation, where he held numerous financial roles including Vice President of corporate finance, Senior Vice President of Corporate Finance, Treasurer, and Chief Financial Officer. In 207 he co-founded Connance, where he served as Chief Executive Officer before joining Kindred Healthcare.
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