Prior Authorization Overhaul to Debut in 2026, with Broader Reform for Behavioral Health on the Horizon

Preventing unnecessary care and medication prescriptions is the primary purpose of prior authorization. Instead, it has all too often led to slower, burdensome delays to critical care for mental health and substance use treatment, but that could soon change. A group of major insurers – including UnitedHealthcare, Aetna, Cigna Group, Humana, Blue Cross Blue Shield […]

As Consumers Pull Back on Cash-Pay Therapy, More Providers Could Go In-Network

This is an exclusive BHB+ story With economic volatility in full swing, consumers are tightening their purse strings. That means fewer dinners out, vacations abroad – and maybe even therapy sessions. This could hit especially hard for cash-pay providers who rely on their clients’ financial well-being to stay afloat.  Folks often pull back on expenses […]

Bicycle Health Reaches Profitability Milestone, Secures $16.5M for Sustainable Growth and M&A

Virtual opioid use disorder (OUD) treatment provider Bicycle Health has achieved profitability after abandoning its “growth at all costs” mindset and streamlining its business model. The company is now set for long-term, disciplined growth, including acquiring other providers, founder and CEO Ankit Gupta told Addiction Treatment Business. Bicycle will use funds from a new $16.5 […]

Behind the Glamour: Why Luxury Rehab Centers Have Lost Their Appeal

Tikvah Lake Recovery changed for the better when it “got rid of the 20 year olds on their phones,” according to Adam Nesenoff. Nesenoff has co-owed Tikvah Lake with his father, David Nesenoff, since 2016. It is a residential addiction treatment center in Sebring, Florida. More specifically, it is a self-described luxury rehabilitation center, charging […]

BetterHelp to Accept Insurance as Teladoc Battles Rising Acquisition Costs

Teladoc (NYSE: TDOC) is working with a sense of “urgency” to restructure its underperforming mental health company BetterHelp, focusing on expanding insurance deals to revitalize the business. This comes after a streak of disappointing earnings results. The company announced a net loss of $837.7 million, or $4.92 per share in its second-quarter earnings call. “This […]

Private Therapy Practices Face Financial Strain Amid Economic Woes

The financial stability of private therapy practices is increasingly precarious, with the majority of therapists reporting anxiety over the current economic climate. Almost 85% of private practice therapists are concerned about the economy impacting their practice in 2024, according to a survey conducted by mental health-focused accounting startup Heard. Despite these concerns, most therapists said […]

Investors Favor In-Network Behavioral Health Providers for Faster Growth, Returns

Despite the higher reimbursement rates from private-pay models, investors are shifting their focus to in-network providers who offer stability. In-network behavioral health providers have faster growth, quicker revenue cycles and better overall returns, industry insiders told Behavioral Health Business. Although developing relationships with payers can be hard work, it can pay off with investors. Private […]

Psychedelic Venture Studio Beckley Waves Acquires Ketamine Provider Nue Life

Psychedelic-focused venture studio Beckley Waves has acquired digital ketamine-assisted therapy (KAT) provider Nue Life. Beckley Waves seeks to improve access to well-being-enhancing medicines and tools in an industry that is dominated by “antiquated” approaches to mental health, according to Daniel Love, co-founder and partner at Beckley Waves and interim CEO of Nue Life. “At the […]