Source: Complaint in US District Court (Rocinek et al v. PSI, Filed 7/20/2010). Overall rating. He recently acquired an ownership stake in the Nashville Predators, according to The Tennessean. If you have information that would assist KSF in its investigation, or have been a long-term holder of Acadia shares and would like to discuss your legal rights, you may, without obligation or. Fort Myers, FL, Park Royal Hospital. Coverage of this has been widespread, as seen below: Boy, 5, Found Dead After Spending 8 Hours in Van Outside Children's Health Clinic: Cops, Ascent Children's Health Services to close all facilities. The company rampantly and openly commits insurance fraud. Staff is asked to gaslight patients who complain and rely on their illnesses to disregard their complaints. The other lawsuit, which involves an unnamed minor, alleges denial of critical emergency medical care, as well as multiple sexual assaults against children. The investigation was conducted by HHS-OIG, the Drug Enforcement Administration, West Virginia Medicaid Fraud Control Unite and members of the U.S. Attorneys Healthcare Fraud Abuse, Recovery and Response Team. ; https://www.jointcommission.org/about/jointcommissionfaqs.aspx#2323. Presently, over 70% of the companys top-line is paid to Acadia by the British and American taxpayers, he reported. On January 17, 2015, a settlement was announced in the Garden City Employees et al case against PSI leadership. Acadia is a leading provider of behavioral healthcare services. Since mid-August 2015, insider holdings have dwindled from 30% to less than 1%. Our Facilities 21,000+ EMPLOYEES 9,900+ BEDS 227 LOCATIONS 40 STATES 1 NETWORK 21). SLOW DOWN. CRC allegedly billed Acadia, and Acadia paid the San Diego lab, while at the same time billing West Virginia's Medicaid program, with the latter company receiving more than $8 million from Medicaid. West Virginia-based Acadia Healthcare, along with subsidiary CRC Health, has agreed to dole out $17 million to settle accusations of fraud, representing the largest fraud-related settlement in the history of the state, according to a settlement agreement released this week. Today, regulations have finally set in in some states; costs are cut so far that treatment centers often have misleading or dangerous living conditions, and fail to provide individuals with the treatment they desperately need. Of the $17 million settlement, nearly $2.2 million will be paid directly to the State of West Virginia. Government inspection documents reported allegations of sexual harassment and physical abuse. CHARLESTON, W.Va. United States Attorney Mike Stuart, along with Special Agent in Charge Maureen R. Dixon, United States Department of Health and Human Services Office of Inspector General (HHS-OIG), Acting Assistant Special Agent in Charge Justin Schoeman, Drug Enforcement Administration (DEA), Cabinet Secretary Bill J. Crouch, West Virginia Department of Health and Human Resources, and Director Mike Malone, West Virginia Medicaid Fraud Control Unit (MFCU), announced that his office has settled healthcare fraud claims against Acadia Healthcare Company, Inc. (Acadia). Acadia offers an unhealthy work environment, terrible management that is rarely on site, and unreasonable expectations. Of course, for mental health; reimbursements get double-scrutiny thanks to fraud and broadly defined parameters of treatment. The problem is that Medicaid paid the facilities a much higher amount for the tests than the lab had charged for the analysis. There appears to be an acceptable level of patient abuse and sexual abuse because thats the norm in the mental health industry. Instead of the traditional time-and-capital intensive method of building new (de novo) facilities and adding beds, companies soon found that they could consolidate existing facilities and capitalize on the fragmented nature of the industry. Two years ago, Brown Consulting Behavioral Services warned that with increased attention of the Department of Health and Human Services (DHS) and the Office of Inspector General (OIG), Behavioral Healthcare leaders, like other healthcare leaders, must re-examine their internal operations and practices to protect their organizations from fraud and abuse. The July 21, 2017 article spoke of an Integrity Gap, referring to the distance between day-to-day conduct and the ethical standards of the organization. Source: MarketBeat. Source: Marketwatch. In 2017, the majority of Acadia's US revenue came from Medicaid and Medicare contracts. Charleston, WV 25301, 110 North Heber Street As of September 30, 2021, Acadia operated a network of 230 behavioral healthcare facilities with approximately 10,200 beds in 40 states and Puerto Rico. No clear federal definition exists for what constitutes a SUD center, so some entrepreneurs started opening centers in strip malls, filling them with beds, signing users up often through unethical methods. Source: Y Charts, Cap Table: 2016 ACHC Proxy Statement (pp. According to an anonymous industry expert trained in both business and medicine, "due to the number of suicides at some of their facilities, Acadia's ability to accept certain patients has been restricted by state-level governments.". . However, Acadias West Virginia treatment centers then billed West Virginia Medicaid for the urine and blood testing performed by the San Diego Lab, as though the testing had been performed by the treatment centers. CBC TV in Fredericton wanted to talk to me about concerts and government secrecy yesterday, so I took the bus out to Mumford and . Or they will rack up huge bills for patients, charging $4,000 for every unnecessary urine test. Start Your Review of Acadia Healthcare. Chris Hunter. Defendants' fraudulent scheme and course of business that operated as a fraud or deceit on purchasers of Psychiatric Solutions common stock was a success, as it: (I) deceived the investing public regarding Psychiatric Solutions prospects and business; (II) artificially inflated the price of Psychiatric Solutions' common stock; (III) allowed certain of the defendants to reap over $5.6 million in insider selling proceeds; and (iv) caused plaintiff and other members of the Class to purchase Psychiatric Solutions common stock at inflated prices." They also increased cost sharing through higher deductibles, co-pays, and out-of-pocket payments. Legislators from Florida are flabbergasted by this issue, and, according to ABC News: The problem of insurance fraud and patient abuse is so bad in the Sunshine State that it's been nicknamed 'The Florida Shuffle,' where patients are lured here for treatment, then go from one treatment center to another until their insurance benefits run out. The company has seen a mass exodus of value, about a third of its market cap, since Littles first report on the behavioral healthcare company. Acadia Corporate Headquarters 6100 Tower Circle, Suite 1000 Franklin, TN 37067 Tel: 615-861-6000 Toll Free: 855-526-8228 Fax: 615-261-9685 Additional Information Treatment Overview Populations Overview Programming & Services Careers Available Find Your Treatment Facility Disorders We Treat Entry Level Employee. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Things dont seem to be improving for the Franklin, TN-based healthcare provider; Acadia Healthcare Company, Inc. (ACHC). With $3.7 billion in debt, Acadia is poorly positioned in a rising interest rate climate. Acadia recently reported that profits slid in the first quarter to $29.5 million from more than $50 million early last year, led mostly by personnel costs. Last year, the location's top physician since 2012 resigned, citing the decline of the facility under Acadia. While these occurrences are industry-wide, the combination of Acadias mere size and potential for profit appear to position it in similitude with a brewing disaster. 32, 4 Feb., 2019, [2] Is the Integrity Gap Widening in Behavioral Health?, Brown Consulting Behavioral Services, 21 July 2017, http://www.danbrownconsulting.com/2017/07/21/integrity-gap-widening-behavioral-health/. No charges have been filed. The company expects to add more than 800 beds to current and new facilities in 2018. provider visits or the number of days they would cover for mental health patients. Little time off, no office time flexibility, constant urgency, lack of communication (from corporate down to the facility level ESPECIALLY at the facility level), and underpaying employees are the opposite of what this company was built on. GWINNETT COUNTY, Ga. More than 50 local police officers raided a local mental health hospital. Inability to Expand. The hospital didnt investigate to determine if the reports were legitimate, according to inspection reports. Penn has found a passion in his ability to expeditiously investigate companies as well as piecing together how they all contribute or are affected by multi-faceted macro trends. This patient was admitted for alcoholism, but suffered permanent brain damage when, allegedly, a patient violently grabbed her from behind, grasping her hair and viciously slammed her head into the concrete floor. Official websites use .gov Acadia Healthcare 31,705 followers 1w Acadia's Comprehensive Treatment Centers, or CTCs, provide vital care for adults who are suffering from opioid addictions. The issues at Oasis mirror conditions that The Capitol Forum said it has uncovered at other Acadia facilities: harm to patients caused by poor oversight and understaffing.[1]. Waud was also the nominee of Governor Bruce Rauner, R-Ill., and presently chairs the Illinois State Police Merit Board, which provides oversight, the approval of promotions, and other major decisions for the state's highest law enforcement body. Source: YCharts. Seasonality. Share sensitive information only on official, secure websites. Our Mission Absent sufficient regulation, the industry saw nearly every publicly-listed behavioral healthcare providers stock soar from 2012-2015, as seen below: Stock Price for ACHC (Time Range: Initial Public Offering - 11/13/18). He sold the company in 2017 to a global private equity firm.Penn serves as a contributor for Forbes as well. Revocation seems rare and in the case of repeated allegations against facilities in the behavioral health industry questions whether this contributes to patients health and lives being kept at risk. From January 2012 through July 2018, the lawsuit alleged the Acadia centers used a California lab to conduct urine and blood analysis, then billed Medicaid directly for the services paying the San Diego lab out-of-pocket for its services. Even this year, surfacing rape allegations at Houstons Kingwood Pines Hospital (previously a Psychiatric Solutions facility managed by Jacobs and this same management team) points to the sparse revenue potential for providers across the spectrum. Three months after the MHPAEA went into effect, Obamacare was signed into law. Insurers instantly discovered ways to circumvent it. The two bills: 1. Fix the multitude of issues with the current facilities and get a solid foundation before trying to build higher. Fraudulent billing by these Acadia/CRC drug treatment clinics, as contended by the government, limits the States ability to provide desperately needed addiction treatment services, Maureen Dixon, Special Agent in Charge of the Office of Inspector General of the U.S. Department of Health and Human Services Region including West Virginia, said in the release. As a result, reputable clinicians are willing to refer to Acadia less and less. They care only about profit. Acadia bought the facility in 2012 and since them three families have sued over injuries to loved ones who were patients there. To combat these financial challenges, Acadia has purportedly tried: reputable clinicians and physicians don't want to work with Acadia. Patient acceptance restrictions. Inequities can be found in every facet of the industry, but targeting medical students and residents can help stem the tide. SHUT THIS PLACE DOWN BEFORE ANYONE ELSE IS KILLED. Seeing that the 1997 law had no effect on ensuring people could get the mental health and substance use care they needed, and desperate to induce actual change, Senator Ted Kennedy and his son, Patrick, were key in adding the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) as a rider to the Troubled Asset Relief Program (TARP). I directly observed a staff member screaming at a kid with severe trauma.[7], Acadia Healthcare came under further scrutiny in Oklahoma where it owns Rolling Hills Hospital. Thomas flew to Arkansas and New Mexico this fall, listening to whistleblowers at other company sites. 2023 Cox Media Group. We will continue working with the U.S. Attorney and other law enforcement partners to protect government health programs, taxpayers, and importantly people who depend on these funds for vitally needed treatment., The West Virginia Department of Health and Human Resources, through its Medicaid Fraud Control Unit, continues to protect the integrity of healthcare programs and the citizens of West Virginia, said Bill J. Crouch, Cabinet Secretary of the West Virginia Department of Health and Human Resources. You must be a. Click here to find out more , Insider Trading Volume Since 2015. System et al v. PSI, Filed 9/21/2009). Source: Nashville Post. Courtesy: Acadia Healthcare. It also employs about 20,000 people that serve about 70,000 people a day as of the end of October 2021, according to the release. However, when they outperformed at Q4 2017, Waud dumped stock after the release of earnings in February. Gretchen Hommrich. They are up more than 20 percent so far this year. 4. Mental Health Parity and Addiction Equity Act of 2008, rider to the Troubled Asset Relief Program (TARP), resorted to extreme exploitation of minimal regulation via patient brokering, massive gold rush, according to Bloomberg News, misleading or dangerous living conditions.
Comments are closed.