Destination Hope — an addiction treatment provider in Fort Lauderdale, Florida — has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida. The company submitted the voluntary petition August 28, citing the coronavirus and other issues as the impetus. Founded in 2007, Destination Hope provides substance use disorder […]
The longtime CEO of Universal Health Services (NYSE: UHS) — Alan B. Miller — is stepping down after more than 40 years on the job, the hospital management giant announced Tuesday. Miller, who is 83, will vacate the CEO position in January 2021, when his son, 50-year-old Marc D. Miller, will take over. Meanwhile, Alan […]
Cultivate Behavioral Health and Education acquires Progressive Behavioral Science Cultivate Behavioral Health and Education, a portfolio company of the private equity firm Imperial Capital, has acquired Progressive Behavioral Science, according to a press release from Livingstone, who advised Progressive on the transaction. Financial terms were not released. Both Cultivate and Progressive provide applied behavioral analysis […]
The last five months have been hard for behavioral health providers to weather, with many being forced to cut back services as a result of COVID-19-related financial strain. Some are even facing the risk of closure. Then there’s Pinnacle Treatment Centers, which has actually been expanding. Pinnacle is one of the largest substance use disorder […]
In the past four years, health plans affiliated with Anthem (NYSE: ANTM) have more than doubled the percentage of members receiving whole-person medication assisted treatment (MAT) for opioid use disorder (OUD). Four years ago, the insurer found that only 18% of consumers were receiving both drug therapy and counseling services as part of their MAT […]
A new partnership aims to improve behavioral health access and care coordination in one of the most underserved, highest need parts in the country. Frontier Psychiatry, a telepsychiatry provider, and CrossTx, a referral management solutions provider, have teamed up to make it happen. The goal is to make psychiatric care accessible to all the residents […]
Acadia, Covenant Health break ground on new behavioral hospital Acadia Healthcare (Nasdaq: ACHC) and Covenant Health have officially started construction on their newest inpatient behavioral health hospital, East Tennessee Behavioral Health. Franklin, Tennessee-based Acadia is a behavioral health provider that operates nearly 600 behavioral health facilities across the U.S., the U.K. and Puerto Rico. Meanwhile, […]
Recovery Centers of America (RCA) — a private equity-backed substance use disorder (SUD) treatment provider based in the Northeast — has opened its first Midwestern location. The new facility in suburban Chicago started accepting patients Tuesday. The organization plans to expand its presence in the heartland even further later this year. Based in St. Charles, […]
When the COVID-19 pandemic hit the U.S., private and public payers rushed to cover telehealth, making it easier than ever for patients to receive behavioral health care. As a result, more than 80% of behavioral health organizations used telehealth for the first time amid the COVID-19 emergency, according to a recent survey by the digital […]
Despite the stringent federal requirements clinicians must meet to become waivered providers of buprenorphine, only about half of those eligible to prescribe the medication-assisted treatment (MAT) drug actually do so. That’s according to a new study conducted by Pew Charitable Trusts in collaboration with Deerfield Management Co. and Rand Corp. The findings were published on […]
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