Kindred Healthcare
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| Type | Public (NYSE: KND) |
|---|---|
| Industry | Healthcare |
| Founded | 1985, Louisville, Kentucky, USA |
| Headquarters | Louisville, Kentucky, USA |
| Key people | Paul J. Diaz (President/CEO) Edward L. Kuntz (Chairman) Richard E. Chapman (Executive Vice President/CAO/CIO) Benjamin A. Breier (COO) |
| Products | Long-Term Acute Care Hospitals, Nursing and Rehabilitation Centers, Assisted Living Facilities, Rehabilitation Services |
| Revenue | $4.67 Billion USD (2011)[1] |
| Employees | 56,800[2] |
| Divisions | Hospital Division, Nursing and Rehabilitation Centers, RehabCare, Kindred Support Center |
| Website | www.kindredhealthcare.com |
Kindred Healthcare Incorporated (NYSE: KND) is a healthcare services company that through its subsidiaries 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.[3]
The company was founded in 1985 as Vencor, Inc. The current name was adopted on April 20, 2001 following its emergence from Chapter 11 bankruptcy.[4] The company's fortunes improved largely post-reorganization. Kindred is a Fortune 500 company, and was ranked as 477 in 2010.[5]
At the close of 2010, 696 facilities were being run and operated by Kindred, including long-term acute care (LTACH) hospitals, Skilled Nursing Facilities, and rehabilitation services. Its headquarters and support center is located in Louisville, Kentucky.
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[edit] Mission statement
Kindred Healthcare's mission statement is as follows:
| “ | Kindred Healthcare's mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve.[6] | ” |
[edit] Divisions
Kindred currently operates three separate divisions: the Hospital division, the Nursing Center division, and RehabCare. A former fourth division, Kindred Pharmacy Services (KPS), was spun off in a merger with AmerisourceBergen, resulting in the creation of PharMerica.[7]
[edit] Hospital Division
Kindred Healthcare currently operates 89 hospitals in 24 states.[8] All Kindred hospitals are long-term acute care service providers (LTACs).
Common services provided by Kindred Healthcare hospitals include:[9]
- Pulmonary services (ventilator management and weaning, tracheostomy management, etc.)
- Critical care services (for such conditions as multi-system failure, heart failure, shock, or pre- or post- transplant care)
- IV antibiotic care (for infections such as septicemia and soft tissue infections)
- Wound care services (management of complex wounds, including diabetic and decubitus ulcers)
- Rehab services for medically complex patients including orthopedic, cardiac and pulmonary rehab
- Sub-acute and outpatient programs (rehabilitation, surgery, comprehensive wound treatment including hyperbaric oxygen therapy)
Kindred operates both freestanding hospitals and hospital-in-hospitals. As of December 31, 2010, Kindred ran 72 frestanding hospitals.[10] Along with traditional freestanding hospitals, Kindred operates 17 hospital-in-hospitals (HIH). An HIH operates in a "host hospital", where it provides LTAC services to patients it receives from the short-term acute care units.[11]
The Hospital Division had revenues of $2.0 billion in 2010,[12] making Kindred the largest network of LTAC hospitals in the United States.[13] Leading the Hospital Division is Executive vice president Jeffrey P. Winter.
Every Kindred hospital is reviewed by internal quality auditors for compliance with the standards of the Joint Commission.
[edit] Nursing Center Division
The Nursing Center Division (NCD) of Kindred Healthcare operates nursing and rehabilitation centers and assisted living facilities. Like most nursing homes, Kindred's centers care for both short-term residents (focus on rehabilitation) and long-term residents (often with multiple medical, cognitive, or emotional problems). As of 2010, Kindred operated 226 nursing and rehabilitation centers and seven assisted living facilities in 28 states.[14] In October of 2011 Kindred reorganized its NCD from three regions to two regions and from 23 districts to 13.
The Nursing Center Division had $2.2 billion in revenues[12] in 2010, making them the third largest nursing center operator in the United States. The division is headed by Executive vice president Lane M. Bowen.
Common services provided by NCD nursing and rehabilitation centers include:[15]
- IV therapy for infections and total parenteral nutrition (TPN)
- Non-invasive mechanical ventilation (C-PAP/BI-PAP)
- Tracheostomy care and removal
- Feeding tubes
- Comprehensive wound care
- Inpatient and outpatient physical, occupational, and speech-language therapy
- Hospice care
- Assisted living
In 2010, 32 of Kindred Healthcare's nursing and rehabilitation centers received the American Health Care Association's Quality Award.[16]
[edit] RehabCare
In June 2011, Kindred acquired RehabCare.[17] As part of the transaction, Kindred combined its rehabilitation division, known as Peoplefirst Rehabilitation, and RehabCare. The combined division is called RehabCare.
Kindred's Rehabilitation division serves Kindred sites in addition to non-Kindred facilities. The rehab units in Kindred hospitals and nursing centers are staffed and managed by RehabCare. Peoplefirst Rehabilitation was established as a separate division in 2004. In 2010, it generated revenues of $505 million.[18] This division is headed by Patricia M. Henry.[19]
[edit] HomeCare and Hospice
Through a combination of owned, managed and preferred providers, Peoplefirst HomeCare and Hospice will assist the patient and family in identifying the most appropriate care level in a variety of settings including skilled nursing facilities, home and other residential settings.
Peoplefirst HomeCare and Hospice's first site opened in the spring of 2008.[20]
[edit] Kindred Support Center
The support center (formally known as "Corporate") for all Kindred facilities is located at company headquarters in Louisville, Kentucky. The staff of about 1000 employees is headed by Executive Vice President, CAO and CIO Richard Chapman.
[edit] Data Center
Part of the Support Center's Information Systems department includes Kindred Healthcare's data center.
In September 2008, Kindred Healthcare was listed as No. 48 in the InformationWeek 500. Its Information Systems department has made this list nine years in a row.[21]
[edit] Awards and recognition
In 2011, the Kindred Support Center was named one of the Top 25 Best Places to Work in Kentucky among large-sized companies for the fifth year in a row. It was presented to Kindred by the Kentucky Society for Human Resource Management State Council and the Kentucky Chamber of Commerce.The selection was based on an assessment of the company's employee policies and procedures, as well as the results of an internal employ ee survey.
In 2011, Kindred ranked 4th among Health Care: Medical Facilities in Fortune magazine's list of most admired companies.[22]
[edit] References
- ^ Key Statistics for Kindred Healthcare Inc
- ^ As of December 31, 2010.
- ^ Kindred Healthcare - Nation's Largest Post Acute Healthcare Provider
- ^ "Vencor emerges from chapter 11" (Press release). Kindred Healthcare, Inc.. April 20, 2001. http://web.archive.org/web/20010608053705/www.kindredhealthcare.com/press/emergence.htm. Retrieved 2007-06-28. "The name Kindred Healthcare was selected to reflect the Company's values, quality, compassion and integrity."
- ^ "Fortune 500 2010: Kindred Healthcare". CNN. http://money.cnn.com/magazines/fortune/fortune500/2010/snapshots/10748.html. Retrieved 2010-05-05.
- ^ Updated in Spring 2008.
- ^ Kindred Healthcare (2007). "Amerisourcebergen and kindred healthcare announce completion of transaction to create pharmerica corporation". Kindred Healthcare Press Release. http://phx.corporate-ir.net/phoenix.zhtml?c=129959&p=irol-newsArticle&ID=1343495&highlight=. Retrieved 2009-12-22.
- ^ Kindred Healthcare (2010). "Kindred Healthcare Annual Report: SEC Form 10-K 2010" (PDF). p. 3. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDE1MTUzfENoaWxkSUQ9NDI3MDEzfFR5cGU9MQ==&t=1. Retrieved March 1, 2011.
- ^ Kindred Healthcare Operating, Inc. (2007). Kindred Healthcare: A Diversified Post-acute Healthcare Company. p. 3
- ^ Kindred Healthcare (2010). "Kindred Healthcare Annual Report: SEC Form 10-K 2010" (PDF). p. 8. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDE1MTUzfENoaWxkSUQ9NDI3MDEzfFR5cGU9MQ==&t=1. Retrieved March 3, 2010.
- ^ Kindred Healthcare (2010). "Kindred Healthcare Annual Report: SEC Form 10-K 2010" (PDF). p. 9. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDE1MTUzfENoaWxkSUQ9NDI3MDEzfFR5cGU9MQ==&t=1. Retrieved March 1, 2011.
- ^ a b Before eliminations
- ^ Kindred Healthcare (2010). "Kindred Healthcare Annual Report: SEC Form 10-K 2010" (PDF). p. 6. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDE1MTUzfENoaWxkSUQ9NDI3MDEzfFR5cGU9MQ==&t=1. Retrieved March 1, 2011.
- ^ "Kindred Healthcare Annual Report: SEC Form 10-K 2010" (PDF). 2010. p. 3. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDE1MTUzfENoaWxkSUQ9NDI3MDEzfFR5cGU9MQ==&t=1. Retrieved March 1, 2011.
- ^ Kindred Healthcare Operating, Inc. (2007). Kindred Healthcare: A Diversified Post-acute Healthcare Company. p. 5
- ^ [1]
- ^ Kindred Healthcare, Inc. (2011). "Kindred Healthcare Completes Acquisition of RehabCare Group". Press Release. http://phx.corporate-ir.net/preview/phoenix.zhtml?c=129959&p=irol-newsArticle&ID=1569922&highlight. Retrieved 5 July 2011.
- ^ Kindred Healthcare (2010). "Kindred Healthcare Annual Report: SEC Form 10-K 2010" (PDF). p. 19. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDE1MTUzfENoaWxkSUQ9NDI3MDEzfFR5cGU9MQ==&t=1. Retrieved March 1, 2011.
- ^ [2]
- ^ "Peoplefirst Homecare and Hospice". http://peoplefirsthomecareandhospice.com/.
- ^ "Kindred Healthcare Employment - Corporate". Kindredhealthcare.com. http://www.kindredhealthcare.com/careers/job-search/support-center/. Retrieved 2009-08-05.
- ^ "World's Most Admired Companies 2011: Kindred Healthcare snapshot". CNN. http://money.cnn.com/magazines/fortune/mostadmired/2011/snapshots/10748.html. Retrieved 5 July 2011.
