Is Healogics Sinking (Again)?

As the original founder of National Healing (precursor to Healogics) it is a shame to see they did not evolve and innovate after Morgan Stanley acquisition and then after CD&R greatly over paid for their acquisition ! Lost a great deal of management innovation !

Best thing I ever did was to get off that sinking boat .

I loved working at Healogics, so many wounds were healed, so many limbs were salvaged, so many lives prolonged. Who would not love such a fulfilling job? But when the new management took over, due to the way health care seems to be changing (daily), the company attempted to adapt, but failed in various attempts. I met and learned from so many fantastic former leaders there, including you Mr. Wilcox. I pray the best for Healogics, but if your statistics are correct, they need a miracle (along with many other companies in healthcare!) When many of the former great leaders at Healogics began retiring and/or leaving one by one, it was disconcerting. But in business, we all know change is inevitable. Then many other changes took place that caused many leaders at all levels to leave or jump ship. It is sad. All I can say is that I worked on the front lines and we saw wound care miracles happen consistently. So many lives were changed. I witnessed miracles and am so grateful for what I learned as a Program Director at Healogics.

While the painful financial woes perpetrating my old company could very well represent the “ocean floor” for the Titanic of independent WCCs in America, 2factors might be worth considering. This same premise predicting their potential demise could arguable be used to explain the perils facing the majority of healthcare providers today. There is a historic level of financial downgrades happening across our country, and despite the feds doling $175 billion in bailout, “the 2020 second qtr number of provider downgrades surpassed upgrades and by the largest margin since Q3 2014, Moody's report (recorded 191 downgrades). Fitch Ratings 14 hosp health system downgrades and just 2 upgrades. S&P Global 22 downgrades vs 6 upgrades. Finally, “divided we fall” IF they end up deep sixed, again, the entire spectrum of our current WC market could see some “friendly fire” fratricide/amicicide events for many, many reasons.?So for all those who might be inclined to smile at the downfall of the giant (with all its ugly warts) you may want to consider that old Chinese proverb “careful of what you ask for” cause their death could be the “canary in the coal mine” not only for those in wound care, but for the entire healthcare industry as a whole:-O??

They have destroyed so many good programs by luring administrators with their falsified data and cherry picked patients into signing 5 year contracts. The center is then run into the ground and no longer financially sustainable after 3 years and the Admin want out of contract. Their whole corporate culture stinks like a dumpster behind Red Lobster. Good riddance to them.