Senate Finance Committee Releases Excoriating Investigation of Abuse in At-Risk Youth Industry

After years of facing criticism for wrongdoing and mistreatment of patients, the at-risk youth industry was blasted in a report released on Wednesday by the U.S. Senate Finance Committee. The report and communications from the committee chairman, Sen. Ron Wyden (D-Ore.), conclude that systemic harm and abuse are “routine” parts of the at-risk youth industry. […]

UHS Sells 80-Bed Psychiatric Facility to Texas-Based Operator

Universal Health Services (NYSE: UHS) plans to sell River Crest Hospital, a San Angelo, Texas-based facility, to Shannon Health System, a healthcare provider based in the same city. The parties did not disclose the terms of the deal. The move expands the nonprofit Shannon Health System’s behavioral health division. Presently, Shannon operates a 22-bed inpatient […]

The Next Chapter for Mental Health Coverage and Business Models

All was relatively quiet on the behavioral health front for publicly traded companies in Q1, reflecting the typically sleepy nature of the first quarter for those seeking to wrap up old initiatives and start new ones. Don’t get me wrong: It’s not like nothing happened or there isn’t anything worth pondering. Quite the opposite, in […]

UHS Reports Solid Growth in Patient Volume Amid Pending Legal Challenges

Universal Health Services (NYSE: UHS) leadership said it’s too early to tell if its $535 million legal case will impact the company’s strategy in the future.  During the company’s Q1 earnings call, leadership answered a number of questions about the litigation’s potential impact on the company. UHS subsidiary Pavilion Behavioral Health System has denied any […]

Top Behavioral Health Stories of 2023: Bankruptcies, ‘Ghost Networks’ Shake the Industry

2023 has been a tumultuous year for the behavioral health space. Macroeconomic headwinds, including rising interest rates plus unrest in Eastern Europe and the Middle East, has slowed dealmaking. Additionally, many providers have struggled to raise more capital as investors tighten their purse strings. At least two major companies in behavioral health care have filed […]

Outlook for Behavioral Health Companies Looking Good Following Rosy Earning Season

Several behavioral health-focused public companies raised their earnings and revenue forecasts for 2023. Industry headwinds, including a more favorable workforce environment, the steady demand for services and payer rate increases, have led to several companies, including Talkspace Inc. (Nasdaq: TALK), LifeStance Health Group Inc. (Nasdaq: LFST) and Acadia Healthcare Co. Inc. (Nasdaq: ACHC) raising their […]

Universal Health Services Taps Oracle to Expand EHR System Across Behavioral Health Network

Universal Health Services (NYSE: UHS) has tapped Oracle to expand its electronic health record (EHR) system across its behavioral health network. While the provider has used Oracle’s EHR in its acute care hospitals for a decade, expanding the technology into its behavioral health facilities will give it a unified system across the entire organization. UHS […]

UHS Expects Staffing Costs to Drop, Paving the Way for Growth in 2023

Universal Health Services (NYSE: UHS) leadership projects workforce pressures may ease up this year, allowing it to return to growth mode. Executives at the King of Prussia-based hospital system estimate that lower COVID rates will result in lower premium pay for temporary employees. Across the business, executives expect those costs to shrink by a third […]

UHS Battling Behavioral Health Patient-Volume Downswing, Workforce Challenges

King Of Prussia, Pennsylvania-based Universal Health Services Inc. (NYSE: UHS) estimates that its annual earnings will be about 19% lower than originally projected. On Thursday, UHS released new, lower annual revenue and earnings estimates after seeing significantly lower than expected profitability in April and May. The shortfall was “due primarily to lower than expected patient […]

UHS to Payers: Keep Up with Reimbursement Trends – Or Go Elsewhere

With behavioral health capacity shortages on the rise, Universal Health Services Inc. (NYSE: UHS) is telling payers to keep up with reimbursement trends – or go elsewhere. The message is an important shift in behavioral health-payer relations that reflects the current operating environment. It’s also one being echoed across the health care sector, with home […]