Kindred Healthcare, Inc.
|
|
| Type |
Public (NYSE: KND) |
| 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)
Frank J. Battafarano (COO) |
| Industry |
Healthcare |
| Products |
Long-Term Acute Care Hospitals, Nursing and Rehabilitation Centers, Assisted Living Facilities, Rehabilitation Services |
| Revenue |
$4.19 Billion USD (2008)[1] |
| Employees |
53,700[2] |
| Divisions |
Hospital, Health Services, Peoplefirst Rehabilitation, 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 former Fortune 500 company, and was ranked as 518 in 2008.[5]
At the close of 2008, 655 facilities were being run and operated by Kindred, including long-term acute care (LTAC) hospitals, nursing centers, and rehabilitation services. Overall, the corporation serves approximately 35,000 patients daily across 40 states.[2] Its headquarters and support center is located in Louisville, Kentucky.
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] |
” |
Divisions
Kindred currently operates three separate divisions: the Hospital division, the Health Services division, and Peoplefirst Rehabilitation. A former fourth division, Kindred Pharmacy Services (KPS), was spun off in a merger with AmerisourceBergen, resulting in the creation of PharMerica.[7]
Hospital Division
Kindred Healthcare currently operates 82 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]
Kindred operates both freestanding hospitals and hospital-in-hospitals. As of December 31, 2008, Kindred ran 66 frestanding hospitals.[10] Along with traditional freestanding hospitals, Kindred operates 16 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 $1.8 billion in 2008,[12] making Kindred the largest network of LTAC hospitals in the United States.[13] Leading the Hospital Division is Executive vice president Benjamin A. Breier.
Every Kindred hospital is reviewed by internal quality auditors for compliance with the standards of the Joint Commission.
Health Services Division
The Health Services Division (HSD) 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 2008, Kindred operated 228 nursing and rehabilitation centers in 27 states.[14]
The Health Services Division had $2.2 billion in revenues[12] in 2008, making them the largest nursing center operator in the United States. The division is headed by Executive vice president Lane M. Bowen.
Common services provided by HSD nursing and rehabilitation centers include:[15]
In 2008, 51 of Kindred Healthcare's nursing and rehabilitation centers received the American Health Care Association's Quality Award.[16]
Peoplefirst Rehabilitation
Kindred's Rehabilitation division, known as Peoplefirst Rehabilitation, serves Kindred sites in addition to non-Kindred facilities. The rehab units in Kindred hospitals and nursing centers are staffed and managed by Peoplefirst. The division was officially created on January 1, 2004.
Peoplefirst Rehabilitation was established as a separate division in 2004. In 2008, it generated revenues of $427 million.[17] This division is headed by Christopher M. Bird.
As of 2008, Peoplefirst provides rehab services to 514 nursing centers, 87 hospitals and 54 other locations in 40 states. Approximately 68% of the division's revenues in 2007 were generated from contracts with Kindred hospitals and nursing centers.[18]
The rehabilitation services provided by Peoplefirst include inpatient and outpatient physical, occupational, and speech language pathology services. The nature of the programs tend to focus on recovery and reentry into the larger community.
Some of Peoplefirst's comprehensive programs include:[19]
Kindred Support Center
The support center (formally known as "Corporate") for all Kindred facilities is located at company headquarters in Louisville, KY. The staff of about 1000 employees is headed by Executive Vice President, CAO and CIO Richard Chapman.
Data Center
Part of the Support Center's Information Systems department includes Kindred Healthcare's data center. Staffed by approximately 300 individuals, the data center houses 1,300 servers and a network that spans over 300 facilities in 40 states.
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.[20]>
Awards and Recognition
In 2009, the Kindred Support Center was named one of the Top 25 Best Places to Work in Kentucky among large-sized companies for the third 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 employee survey.
In 2009, Kindred ranked 1st among Health Care: Medical Facilties in Fortune magazine's list of most admired companies.[21]
References
- ^ Key Statistics for Kindred Healthcare Inc
- ^ a b As of December 31, 2008.
- ^ Kindred Healthcare - Nation's Largest Post Acute Healthcare Provider
- ^ Kindred Healthcare, Inc. (April 20, 2001). "VENCOR EMERGES FROM CHAPTER 11". Press release. 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 2008: Kindred Healthcare". http://money.cnn.com/magazines/fortune/fortune500/2008/snapshots/10748.html. Retrieved 2008-07-03.
- ^ Updated in Spring 2008.
- ^ Kindred Healthcare (2008). "AMERISOURCEBERGEN AND KINDRED HEALTHCARE ANNOUNCE COMPLETION OF TRANSACTION TO CREATE PHARMERICA CORPORATION". Kindred Healthcare Press Release. http://www.kindredhealthcare.com/Press/2007-07-31.asp. Retrieved 2008-07-08.
- ^ Kindred Healthcare (2008). "Kindred Healthcare Annual Report: SEC Form 10-K 2008" (PDF). pp. 5. http://www.kindredhealthcare.com/KHMapped/documents/10k-2008.pdf. Retrieved June 11, 2009.
- ^ Kindred Healthcare Operating, Inc. (2007), Kindred Healthcare: A Diversified Post-acute Healthcare Company, pp. 3
- ^ Kindred Healthcare (2008). "Kindred Healthcare Annual Report: SEC Form 10-K 2008" (PDF). pp. 7. http://www.kindredhealthcare.com/KHMapped/documents/10k-2008.pdf. Retrieved June 11, 2009.
- ^ Kindred Healthcare (2008). "Kindred Healthcare Annual Report: SEC Form 10-K 2008" (PDF). pp. 7. http://www.kindredhealthcare.com/KHMapped/documents/10k-2008.pdf. Retrieved June 11, 2008.
- ^ a b Before eliminations
- ^ Kindred Healthcare (2008). "Kindred Healthcare Annual Report: SEC Form 10-K 2008" (PDF). pp. 5. http://www.kindredhealthcare.com/KHMapped/documents/10k-2008.pdf. Retrieved June 11, 2009.
- ^ "Kindred Healthcare Annual Report: SEC Form 10-K 2008" (PDF). 2009. pp. 14. http://www.kindredhealthcare.com/KHMapped/documents/10k-2008.pdf. Retrieved June 11, 2009.
- ^ Kindred Healthcare Operating, Inc. (2007), Kindred Healthcare: A Diversified Post-acute Healthcare Company, pp. 5
- ^ Kindred Healthcare announces 51 of its nursing and rehablitation centers
- ^ Kindred Healthcare (2008). "Kindred Healthcare Annual Report: SEC Form 10-K 2008" (PDF). pp. 20. http://www.kindredhealthcare.com/KHMapped/documents/10k-2008.pdf. Retrieved June 11, 2009.
- ^ Kindred Healthcare (2007). "Kindred Healthcare Annual Report: SEC Form 10-K 2007" (PDF). pp. 18. http://www.kindredhealthcare.com/KHMapped/documents/10k-2007.pdf. Retrieved July 1, 2008.
- ^ Kindred Healthcare Operating, Inc. (2007), Kindred Healthcare: A Diversified Post-acute Healthcare Company, pp. 7
- ^ "Kindred Healthcare Employment - Corporate". Kindredhealthcare.com. http://www.kindredhealthcare.com/employment/Corporate/home.asp. Retrieved 2009-08-05.
- ^ World's Most Admired Companies 2009: Kindred Healthcare snapshot
