As payers continue to recognize the importance of and the demand for behavioral health care, coverage for those services is expanding like never before. While that’s true across the board, the Medicaid program could present special opportunities for behavioral health care providers in the years to come, according to some legal experts. “Medicaid is an […]
A psychiatric hospital in southeast Florida serving low-income and uninsured patients abruptly shut its doors earlier this month, according to The Palm Beach Post. The move potentially leaves hundreds of patients without access to care. The West Palm Beach-based Jerome Golden Center for Behavioral Health closed Oct. 18 following financial troubles — specifically a bankruptcy […]
Universal Health Services (NYSE: UHS) posted mixed results in the third quarter of 2019, with a large pain point being the hospital management company’s addiction treatment chain, Foundations Recovery Network. Year-over-year, revenue was up 6% in Q3 while net income was down about 43% for UHS. Based in King of Prussia, Pennsylvania, UHS has hundreds […]
Nashville-based Qualifacts, an electronic health record provider for behavioral health and human service organizations, has changed hands. New York-based Warburg Pincus, a global private equity firm focused on growth investing, purchased the company from Boston-based middle market PE firm Great Hill Partners last month. Financial terms of the deal were not disclosed. The deal is […]
As the demand for and use of behavioral health services continues to rise, so do the number of federal and state bills being introduced in an attempt to regulate the industry. Most recently, California Gov. Gavin Newsom signed two such bills into law — and vetoed two others — earlier this month. The new laws […]
Community Psychiatry Management has made two acquisitions in the Los Angeles area to deepen its already massive footprint in the state of California. The Sacramento, California-based mental health organization added both Calabasas Behavioral Health (CBH) and Gelbart and Associates in August. Financial terms of the deals were not disclosed. Community Psychiatry Management is the largest […]
Anthem will offer new coverage of a telehealth program proven to help people reduce or stop drinking. The program is offered by Ria Health, who is partnering with the insurer as a specialty provider, according to a press release announcing the news. San Francisco-based Ria Health is a telehealth company that specializes in alcohol treatment, […]
Los Angeles-based Discovery Behavioral Health has acquired Pasadena, Maryland-based New Life Addiction Counseling & Mental Health Services. Financial terms of the deal were not disclosed. Discovery Behavioral Health is a national provider of substance abuse, mental health and eating disorder treatment. The 21-year-old company offers residential, partial hospitalization and intensive outpatient services for teenagers and […]
Venture capitalists continued to take a special interest in digital behavioral health companies in the third quarter of 2019, keeping alive a three-year steak of hot deal activity in the space. That’s according to a Q3 report from Rock Health, a venture fund that invests only in digital health companies. Across all sectors, digital health […]
The Autism Collaboration, Accountability, Research, Education and Support Act — or the Autism CARES Act — has been reauthorized for another five years. President Donald Trump signed the bill into law on Sept. 30. It authorizes more than $1.8 billion in federal autism funding for 2020 through 2024. The money will help finance autism programs […]
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