Kindred Healthcare

Kindred Healthcare, Inc.
Public
Traded as NYSE: KND
Industry Healthcare
Founded 1985, Louisville, Kentucky, USA
Headquarters Louisville, Kentucky, USA
Key people
Phyllis R. Yale (Chairman)[1]
Benjamin A. Breier (President/CEO)[2]
Stephen R. Cunanan (CPO)[2]
Steven D. Farber (CFO)[2]
Charlie Wardrip (CIO)[2]
Products Long-Term Acute Care Hospitals, Nursing and Rehabilitation Centers, Assisted Living Facilities, Rehabilitation Services, Hospice Care, Care Management
Revenue $4.9 Billion USD (2013) [3]
Number of employees
 65,300 [4]
Divisions Transitional Care Hospitals, Nursing and Rehabilitation Centers, Care Management, RehabCare
Website kindredhealthcare.com

Kindred Healthcare Incorporated (NYSE: KND) is a healthcare services company that operates hospitals, nursing centers, and contract rehabilitation services across the United States. Kindred is the largest diversified post-acute healthcare provider in the U.S.[5]

Kindred's headquarters and support center are located in Louisville, Kentucky.

Kindred is a Fortune 500 company, ranked as #410 in 2013.[6] In 2014, Kindred ranked 4th among Health Care: Medical Facilities in Fortune magazine's list of most admired companies.[7] As of August 2013, Kindred Healthcare has 76,000 employees in 46 states and 6 billion in annual revenue.[8]

History

Kindred was founded in 1985 as Vencor, Inc. The current name was adopted on April 20, 2001 following the company's emergence from Chapter 11 bankruptcy.[9]

Divisions

Kindred operates four divisions: Transitional Care Hospitals, Nursing and Rehabilitation Centers, Care Management, and RehabCare. A former fifth division, Kindred Pharmacy Services (KPS), was spun off in a merger with AmerisourceBergen, resulting in the creation of PharMerica.[10]

Transitional Care Hospital

The Transitional Care Hospital division provides long-term acute care services to medically complex patients. Along with traditional freestanding hospitals, Kindred operates hospital-in-hospitals (HIH) that operate in a "host hospital" to provide long term acute care to patients it receives from the short-term acute care units.[11] This division is led by President Steven L. Monaghan.[12]

Nursing and Rehabilitation Centers

The Nursing and Rehabilitation Division of Kindred Healthcare operates nursing and rehabilitation centers and assisted living facilities. Kindred's centers care for both short- and long-term residents.

The Nursing Division is headed by Michael Beal.[2]

Care Management

A series of acquisitions from 2008 through 2011 led to the creation of a separate division for care management.[8]

The Care Management Division of Kindred Healthcare provides home health, hospice and private duty services to patients in a variety of settings, including homes, skilled nursing facilities and other residential settings. The division includes Kindred at Home.[8] Care management services previously fell within the Home Health and Hospice division of Kindred Healthcare.[4]

RehabCare

Kindred's Rehabilitation division serves both Kindred and non-Kindred sites. Services are organized into two operating segments: skilled nursing rehabilitation services (SRS), which provide primarily to freestanding skilled nursing centers; and hospital rehabilitation services (HRS), which provide inpatient program management and therapy services to hospital units and outpatient services to hospital based satellite programs.[11] In June 2011, Kindred combined its previous rehabilitation division with its new acquisition of RehabCare, renaming the division after this acquisition.[13]

RehabCare is headed by Patricia M. Henry.[14]

In January 2016, Kindred Healthcare Inc. and its subsidiary RehabCare Group Inc. agreed to pay $125 million to settle a whistleblower lawsuit on Medicare therapy claim overbilling. The settlement ended an investigation into claims brought against the companies by former RehabCare therapists in a 2011 lawsuit. The suit claimed RehabCare routinely scheduled skilled nursing facility residents for higher levels of therapy than needed, resulting in therapy services were not reasonable or necessary, or never occurred. [15]

See also

References

  1. ↑ Kindred Healthcare. "Kindred Healthcare - Investor Relations - Board of Directors". corporate-ir.net. Retrieved April 8, 2015.
  2. 1 2 3 4 5 Kindred Healthcare. "Kindred Healthcare - Investor Relations - Management". corporate-ir.net. Retrieved April 8, 2015.
  3. ↑ "Kindred Healthcare Inc.". Retrieved April 16, 2014.
  4. 1 2 "2013 Annual Report". Retrieved June 11, 2014.
  5. ↑ "Kindred Healthcare, Nation's Largest Post-Acute Healthcare Provider, Selects Allscripts Referral Management". Bio-Web. November 20, 2008.
  6. ↑ Fortune 500. "Fortune 500 2013: Kindred Healthcare". CNN. Retrieved April 16, 2014.
  7. ↑ "World's Most Admired Companies 2014: Kindred Healthcare snapshot". CNN. Retrieved April 16, 2014.
  8. 1 2 3 David A. Mann (2013). "Kindred creates Care Management Division". Retrieved September 21, 2014.
  9. ↑ "Vencor Emerges From Chapter 11; Changes Name to Kindred Healthcare, Inc.". Business Wire. April 20, 2001. Retrieved April 16, 2014.
  10. ↑ Kindred Healthcare (2007). "Amerisourcebergen and kindred healthcare announce completion of transaction to create pharmerica corporation". Kindred Healthcare Press Release. Retrieved December 22, 2009.
  11. 1 2 Kindred Healthcare (2012). "Kindred Healthcare Annual Report: SEC Form 10-K 2012". p. 32. Retrieved June 3, 2013.
  12. ↑ Kindred Healthcare. "Kindred Healthcare - Investor Relations - News Release". corporate-ir.net. Retrieved April 8, 2015.
  13. ↑ Kindred Healthcare, Inc. (2011). "Kindred Healthcare Completes Acquisition of RehabCare Group". Press Release. Retrieved July 5, 2011.
  14. ↑ "Kindred Healthcare Promotes Patricia M. Henry to President of RehabCare Division".
  15. ↑ Mongan, Emily (January 12, 2016). "Kindred, RehabCare settle False Claims allegations for $125 million". The United States Department of Justice. McKnight's LTC News. Retrieved May 27, 2016.

External links

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