Acadia Falls Short of Analysts’ Estimates in Q3

Acadia Healthcare (Nasdaq: ACHC) posted mixed results in the third quarter of 2019, with revenue up slightly and income down year-over-year. Overall, the Franklin, Tennessee-based company fell short of analysts’ estimates. In Q3 2019, revenues rose to $777.3 million compared to $760.9 million for the same period a year earlier. Analysts had predicted revenue of […]

Mental Health America of Roanoke Valley closes

Mental Health America of Roanoke Valley has closed after more than 70 years in business, according to The Roanoke Times. It ceased operations on Oct. 31.  The Virginia organization did advocacy for people with mental illnesses, in addition to offering mental health services such as free psychiatric clinic, mental health training for police officers and […]

D.C. Medicaid Program Granted First IMD Waiver Specifically for Mental Health

A first-of-its-kind Medicaid demonstration project aimed to improve care for beneficiaries with serious mental illness (SMI) and/or serious emotional disturbance (SED) has been approved in Washington, D.C. The Centers for Medicare & Medicaid Services (CMS) announced the approval of D.C.’s Section 1115 Medicaid waiver Wednesday. It quite literally waives federal rules that typically prevent Medicaid […]

Four Arkansas Behavioral Health Providers Plan Merger 

Four behavioral health providers in Arkansas have announced plans to merge and form one integrated behavioral health system. Financial terms of the deal were not disclosed. The new non-profit, Arisa Health, will be headquartered in Springdale and have 49 locations in 41 counties in the northern half of the state. Counseling Associates, Mid-South Health Systems, […]

Blue Cross Blue Shield Parent Company Sued Over Stringent Behavioral Health Guidelines

The parent company of Blue Cross Blue Shield plan providers in five states is being sued over allegations that it’s been denying behavioral health benefits to members due to overly restrictive guidelines, according to Law360. The federal lawsuit seeking class action status was filed late last month against Chicago-based Health Care Service Corporation (HCSC). The […]

HonorHealth, Universal Health Services Partner to Build New Behavioral Health Hospital

HonorHealth and Universal Health Services, Inc. (NYSE: UHS) have signed an agreement to open a new behavioral health hospital in the greater Phoenix area. Financial terms of the deal were not disclosed. HonorHealth is a nonprofit health system serving about 1.6 million people in and around Phoenix. It has five acute-care hospitals, multiple outpatient surgery […]

Florida Behavioral Health Center Closes Abruptly Following Financial Problems

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 […]

Community Psychiatry Management Deepens California Foothold with Two Acquisitions

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 […]

Behavioral Health Startup Octave Raises $11M

Behavioral health startup Octave has raised $11 million in Series A funding. That brings the San Francisco-based company’s total raised up to $14 million, according to the online startup fundraising tracker Crunchbase. The investment round was led by New York-based private equity firm Greycroft, with money also coming from San Francisco-based venture capital firm Obvious […]

Michigan Scraps Contentious Mental Health Pilots

Controversial pilot programs that aimed to integrate behavioral and physical health care under the Michigan Medicaid program have been scrapped, according to Crain’s Detroit Business.  Gov. Gretchen Whitmer vetoed the funding set aside to make the pilots possible earlier this month — a move that helped end the programs after years of disagreement and turmoil […]