Behavioral health providers that accept commercial health insurance or have private pay models are among those newly eligible to apply for the latest phase of federal provider relief funding. Previously, the Provider Relief Fund was only opened to those that bill federal payers. The Provider Relief Fund was created as a result of the CARES […]
Category: Finance
Psychedelic medicine biotech company MindMed and NYU Langone Health have partnered to launch a new research training program for psychedelic therapies and medicines, with a special focus on behavioral health. Based in New York City, NYU Langone Health is an academic medical center affiliated with New York University. It has long been a pioneer in […]
The behavioral health care industry entered 2020 with strong momentum on the mergers and acquisitions front, coming off a year filled with 85 deals in 2019 and 97 the year before that. For the most part, experts predicted 2020 would see more of the same, with private equity (PE) firms and strategic buyers showing continued […]
Nearly 30% of addiction treatment providers have had to close facilities or discontinue programs as a result of COVID-19, according to a new report from the National Association of Addiction Treatment Providers (NAATP). The findings are part of a provider COVID impact survey, for which NAATP surveyed its members over the past several weeks. Of […]
Certain behavioral health providers who were previously ineligible to receive federal funding to help offset the financial impacts of COVID-19 are now allowed to apply for financial relief. Those who have already received payments may also be eligible to apply for additional funding. The Department of Health & Human Services (HHS) announced the next phase […]
Spero Health expands in Ohio Spero Health has opened two new outpatient substance use disorder (SUD) treatment clinics in Ohio. The new clinics in Lima and Marion further bolster the provider’s network of more than 40 Spero Health locations across Kentucky, Ohio, Tennessee, Indiana and Virginia. Headquartered in Nashville, Spero Health is privately held by […]
Acadia Healthcare (Nasdaq: ACHC) is preparing to relaunch the sale of its United Kingdom business, the company announced Tuesday. Franklin, Tennessee-based Acadia is a behavioral health provider that operates nearly 600 facilities across the US, the UK and Puerto Rico. The company first announced it would sell its UK business, which includes about 360 facilities, […]
The Crotched Mountain Foundation announced the news back in June: After 67 years, it would be closing its school for children and young adults with autism and other disabilities. Crotched Mountain CEO Ned Olney attributed the “excruciating decision” to the financial pressures of COVID-19, which caused enrollment at the Crotched Mountain School to drop off […]
Universal Health Services (NYSE: UHS) has opened its latest behavioral health facility. Canyon Creek Behavioral Health — a 102-bed psychiatric hospital in Temple, Texas — will start serving adults this fall. From there, it will continue to phase in additional units and service offerings through 2021, when it will become fully operational. Eventually, the facility […]
Like most behavioral health providers, Hopebridge Autism Therapy Centers expected 2020 to pan out differently. The coronavirus threw a wrench in many of the Indianapolis-based company’s plans, forcing it to scale back its growth goals and temporarily close all of its locations. On a more positive, equally unexpected note, 2020 also prompted Hopebridge to roll […]