Providers Beware: Behavioral Health Fraud Investigations, Recoveries on the Rise

Most behavioral health providers agree it’s a good thing: The federal government continues to funnel more money into behavioral health initiatives, such as fighting the opioid epidemic and funding certified community behavioral health clinics (CCBHC). But as providers find themselves with more federal dollars, they’re also more likely to face increased scrutiny over their practices, […]

Co-Founder of Addiction Center Pleads Guilty for Role in $100M Fraud Scheme

The co-founder of a Pennsylvania addiction rehab center has pleaded guilty to conspiracy to commit health care fraud for his role in an “elaborate” insurance scheme, according to the U.S. Department of Justice (DOJ). The scheme fraudulently billed insurers for more than $100 million, local newspaper The Intelligencer reported. Defendant Branden Coluccio entered the plea […]

Cimarron Healthcare Capital Completes Acquisition of Ascent Behavioral Health

Private equity firm Cimarron Healthcare Capital has completed its acquisition of Ascent Behavioral Health. The deal comes in partnership with the Ascent’s management team, private credit asset management firm Monroe Capital and PE firm Veronis Suhler Stevenson. Financial terms of the transaction were not disclosed. Salt Lake City, Utah-based Ascent operates six residential behavioral health […]

Digital Substance Abuse Treatment Startups Captivate Investors, Payers

In America today, the need for more substance use disorder (SUD) interventions is clear. In 2017, more than 70,000 people died from drug overdoses, and the alcohol-related death rate was twice what it was 20 years earlier. Those statistics don’t include nearly 20 million others who did not die but still battled SUD that year. […]

Behavioral Health Leaders Urge Congress to Expand CCBHC Medicaid Demonstration

Dozens of behavioral health organizations are urging Congress to expand the Certified Community Behavioral Health Clinic (CCBHC) Medicaid demonstration, which is set to expire May 22.  In a letter released Tuesday, 60 stakeholders asked lawmakers to extend the demonstration for the eight states currently participating and expands the program to nearly a dozen more states. […]

UHS Behavioral Health President ‘Willing to Lead Differently,’ Set New Collaboration Standard

As 2020 kicks off, so does the beginning of Matt Peterson’s first full calendar year with Universal Health Services (NYSE: UHS). Peterson joined the hospital management behemoth last September, when he was named president of the company’s behavioral health division and executive vice president of UHS as a whole. With a background in finance, managed […]

Programming Note: BHB Holiday Weekend Schedule

Thank you for reading Behavioral Health Business. If you like our coverage, be sure to subscribe to our newsletter, which delivers the latest industry updates and breaking news directly to your inbox. BHB’s Chicago headquarters will be closed on Monday, February 17 in observance of Presidents’ Day. Our normal posting schedule and daily email will resume […]

Headspace Raises $93M to Tackle Chronic Conditions, Fuel Expansion

Headspace has raised $93 million in Series C funding, the company announced Wednesday. That breaks down to $53 million in equity from investors and $40 million in debt financing from Pacific Western Bank. In total, the Santa Monica, California-based mindfulness and meditation company has raised $168.2 million in its decade-long lifetime, according to the fundraising […]

MHCA CEO: Endurance Key For Behavioral Health Providers Sailing into 2020

Behavioral health providers are notoriously mission-driven, sometimes at the expense of being business-minded enough to remain financially viable. Additionally, they’ve been historically siloed. Tallahassee, Florida-based MHCA has been trying to tackle those industry weaknesses and others since its founding back in 1985. Sailing into the choppy behavioral health waters of 2020, that mission remains. Formerly […]