I know I sure was worried about the profitability of Kindred Healthcare, one of the largest nursing home chains in America.
Kindred Healthcare posted higher-than-expected profits in the third quarter as increased private hospital admissions boosted income. Net income was $5.5 million. A year earlier the company lost $21.3 million, or 55 cents per share. Analysts had expected about 3 cents per share for the most recent quarter.
My Question: Did Kindred use any of those increased revenues to hire more CNAs to help care for the residents? Did Kindred hire more RNs and wound nurses to treat decubitus ulcers? Did Kindred spend a little more money to improve the quality of the food it provides to its residents? I bet I know the answer….do you?