Those who purchased Acadia Healthcare Company Inc (NASDAQ: ACHC) shares should contact the Shareholders Foundation, Inc. Some notable issues stated in the conference call or in public filings were: ACHC 2018 Recommendations. You must be a. Share sensitive information only on official, secure websites. The company rampantly and openly commits insurance fraud. A separate claim, filed in 2009, names the same defendants. Overall, the sexual assault allegations are eerily similar to the lawsuits from the Jacobs et al. I/we have no positions in any stocks mentioned, but may initiate a short position in ACHC, UHS, AAC over the next 72 hours. 1. 17). Waived laboratory tests are simple tests with a low risk for an incorrect result. In the two previous years, it has experienced a 20%+ drop after its Q3 earnings announcement. 30% of Acadias revenue comes from the UK, but problems exist, such as: The shortage of nursing staff in the UK is cause for alarm bells. ignoring their complaints, and had poor quality control procedures in place. Charleston, WV 25301, 110 North Heber Street The Commission bases its accreditation on surveys paid for by the hospitals. Interest expense for the last half of the year is expected to be around $95 million. Reeve Waud (left) with Governor Bruce Rauner (R-IL) (right). The ADHS website lists facility enforcement actions dating back three years. In regards to Jacobs' tenure as CEO of PSI, himself and his team were subjected to various allegations and litigation after the sale to UHS. Though that law had wonderful intentions, it was far too narrow; it included no provisions for substance use or dependency issues. Only Channel 2 Action News was there when detectives pulled evidence and questioned employees. There was a child that was escorted to the hospital because he was punched in the face by a staff member. While not related to securities, Penn served 14-months in federal prison, for bank fraud when he was 23-years-old. 5. I am not receiving compensation for it. $8.5 million in Medicaid fraud means $8.5 million in fraud to the taxpayers. Acadia Healthcare 31,705 followers 1w Acadia's Comprehensive Treatment Centers, or CTCs, provide vital care for adults who are suffering from opioid addictions. I wrote this article myself, and it expresses my own opinions. 20,000 Employees We employ professionals who are dedicated to developing innovative ways to deliver individualized behavioral health treatment. Unscrupulous operators resorted to extreme exploitation of minimal regulation via patient brokering, or "junkie hunting," as it's often called, to increase revenues further. The Beginning: A Legislative Triple-Threat. Questionable accounting for goodwill and PPE depreciation expenses. In 2017, the majority of Acadia's US revenue came from Medicaid and Medicare contracts. A place to come and make your grievances against Acadia Health Care public. Philadelphia, PA, Belmont Hospital. Courtesy: Acadia Healthcare, ACHC: Insider Holdings Decline Since 2015. Government inspection documents reported allegations of sexual harassment and physical abuse. Website: www.acadiahealthcare.com Headquarters: Franklin, TN Size: 10000+ Employees Founded: 2005 Type: Company - Public (ACHC) Industry: Health Care Services & Hospitals Revenue: $1 to $5 billion (USD) Competitors: Universal Health Services, Inc., HCA Healthcare, Summit Behavioral Healthcare (OH) Create Comparison Acadia, acting through its subsidiary, CRC Health, L.L.C. 27). Presently, over 70% of the companys top-line is paid to Acadia by the British and American taxpayers, he reported. I'm Gretchen Hommrich, Vice President of Investor Relations for Acadia. Acadia has experienced almost no bed growth in 2018. Myron Ballou, 70, was hospitalized at Rolling Hills in December 2017 after staff at the Oklahoma Veterans Center observed changes in his behavior, his wife, Marsha, said. On Tuesday morning 02/28/2023 the Acadia Healthcare Co Inc share started trading at the price of $77.74. Patient acceptance restrictions. 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. 3.9. The message is clear if you are cheating the system and we find you, youll not only pay for the damage done but far more. Assistant United States Attorneys Alan McGonigal and Jennifer Mankins handled the matter on behalf of the United States. 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. Unscrupulous actors have taken advantage of well-intended federal law, and a lack of any good law at the state level, to profit off people at the lowest stages of their lives. It was called the National Mental Health Parity Act (MHPA). Acadia offers an unhealthy work environment, terrible management that is rarely on site, and unreasonable expectations. [5] UHS in the hot seat: Senator calls for federal probe over patient care concerns at top-performing hospital FierceHealthcare, 25 Apr. Three months after the MHPAEA went into effect, Obamacare was signed into law. Since mid-August 2015, insider holdings have dwindled from 30% to less than 1%. Source: Complaint in US District Court (Rocinek et al v. PSI, Filed 7/20/2010). Acadia Healthcare Company, Inc. provides behavioral healthcare services in the United States and Puerto Rico. Residential treatment at Timberline Knolls includes a state-approved school for adolescents and 24-hour, 7 day per week medical care. Last year, the location's top physician since 2012 resigned, citing the decline of the facility under Acadia. Pursuant to the settlement agreement, Acadia will pay $17 million to resolve allegations of a billing scheme that defrauded Medicaid of $8.5 million. In 2015, American Addiction Centers ((AAC)) was charged with murder in California the first-ever corporation to be charged with second-degree murder. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The Capitol Forum also spoke to three former Oasis employees who worked at the facility during the time frame covered by the documents. An official website of the United States government. 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 does not care about the well-being of their patients or their employees. (Page 6, Paragraph 1 of the complaint. 10. Official websites use .gov The company also tried to buy Highland Hospital in Charleston in 2016, with the Highland board unanimously approving the sale, but hospital officials later said the deal was nixed, and Highland instead was scooped up by Meridian Behavioral Health Systems in 2017. XFL Quarterback Reinstated After New Details Emerge from Scandal,The XFL reinstated quarterback Quinten Dormady Friday one day after the Orlando Guardians released him for handing out plays from the team's playbook to other teams. Two lawsuits have been filed against the facility this year. In many cases, the documents provided by ADHS show that when Oasis provided an acceptable plan of correction, the department did not conduct an on-site follow up survey, according to The Capitol Forum. In Gwinnett County, police confirm they're focusing on 51 former patients. But, as a profit measure, it worked. Courtesy: Acadia Healthcare, Cap Table: 2014 ACHC Proxy Statement (pp. Henderson, NV, Seven Hills Hospital. Additionally, the provisions it did have were woefully ineffective. I have no business relationship with any company whose stock is mentioned in this article. U.K. and U.S. government health contracts make up the bulk of the money paid to Acadia Healthcare. [3], The information The Capitol Forum found further raises concerns about the Joint Commission. Huntington Comprehensive Treatment Center in West Virginia. While at Crestview, Penn also co-founded the Shatter Our Silence Initiative, to combat teen suicide in Northern Illinois.Penn loves to spend time with his nieces, Sacra and Emory (both 3) and nephew, Greer (1), as well as fishing in Kona, HI for Blue Marlin. More than 50 local police officers raided a local mental health hospital. The State cited (Belmont-Combined-State-Inspections.pdf) the facility for lack of staff and lack of facilities that would prevent suicides, among other things. 2017, https://www.fiercehealthcare.com/healthcare/uhs-hot-seat-senator-calls-for-federal-probe-over-patient-care-concerns-at-top, [6] https://www.healthexec.com/topics/quality/joint-commissions-failure-has-senator-asking-how-make-its-inspections-public, [7]Acadia Healthcare: ADHS Documents Reveal Violence and Understaffing at Oasis Behavioral Health, Capitol Forum, Vol. Please disable your ad-blocker and refresh. He has come to enjoy and find a passion for learning and writing about various verticles including energy and transportation.Penn is a proud graduate of Culver Military Academy in Culver, Indiana. Another law, passed in 1997, had tried to achieve something similar. When Bleecker Street Research brought to light ACCs over-billing practices for urine tests, that was the fatal blow. The Medicaid Fraud Control Unit in West Virginia is the single entity of the West Virginia state government that is certified annually by the Secretary of the U.S. Department of Health and Human Services to conduct statewide investigations of healthcare providers that defraud the Medicaid program. Astonishingly, in their time since becoming publicly traded, ACHC press release on Q2 earnings from 2018, ACHC presentation Wells Fargo Healthcare Conference 9/2018. This is the embodiment of the operational and financial abuses that have permeated this industry. Insider ownership has plummeted over the last three years, from 30% to now less than 2.5% (See the ACHC Proxy Statement Extractions below, starting with 2012). A lawsuit charges that the facility lacks sufficient and appropriately trained staff. As a leading provider of behavioral healthcare services in the United States and Puerto Rico, Acadia Healthcare operates 246 treatment facilities across 39 states. $11,000. In June 2017, four employees were charged with manslaughter after a 5-year-old boy died. Source: The Braff Group. 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While many healthcare providers believe that improving the patient financial experience is a critical step for their organization, few have done so successfully. CBC TV in Fredericton wanted to talk to me about concerts and government secrecy yesterday, so I took the bus out to Mumford and . As of March 31, 2021, Acadia operated a network of 228 behavioral healthcare facilities with. 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. Working here will land you with people's deaths on your conscience. 15). 3. More nurses are leaving the profession than joining, leaving Acadia without sufficient staff to care for its UK patients. The San Diego Lab performed the testing and invoiced Acadias treatment centers for the services, and did so at the request of the treatment centers. According to a DOJ press release, Medicaid subsequently paid the facilities a substantially higher amount for these tests than what had actually been charged by the laboratory. [4]Acadia Healthcare: ADHS Documents Reveal Violence and Understaffing at Oasis Behavioral Health, Capitol Forum, Vol. According to another friendly FBI source (reached via phone in July 2018), Special Agent Tara Smith of Chicago, discussed the link between cost-cutting, potential fraud, and patient harm, and said: it's just not something we do, and it's a challenge to connect the two. So, it was not surprising when a research site named 'Aurelius Research' launched a site called 'Acadia Exposed' that has compiled relatively voluminous copies of pending litigation aimed at facilities Acadia owns, as well as the parent company itself. The company's Atmosphere is good, the employers care about thier employee's wellbeing, and hours are flexible. Overall rating. For example, its time the Federal Medicaid and Medicare Services (CMS) review the reliability of the Joint Commission, a non-profit tax exempt organization, giving accreditation to hospitals as a condition of licensure for the receipt of Medicare and Medicaid reimbursements. Room 209 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. The deficiencies led to a failure by the Company to: protect patients from sexual abuse; provide patient care in a safe environment; ensure its patients were adequately monitored; ensure its facilities were adequate(ly) staffed, adequately train and supervise its staff; and ensure incidents were properly reported to state and federal authorities." All they had to do was limit the number of provider visits or the number of days they would cover for mental health patients. They also increased cost sharing through higher deductibles, co-pays, and out-of-pocket payments. 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. I. CRC Health had been accused of collecting blood and urine samples at drug treatment centers in a number of West Virginia towns, which it then sent for screening to San Diego Reference Laboratory. As of June 30, 2021, Acadia operated a network of 229 behavioral healthcare facilities with approximately 10,100 beds in 40 states and Puerto Rico. In effect, the three combined laws were a mandate for the $3 trillion insurance industry to pay out unlimited reimbursements for a lifetime disease with no cost-effective solution. 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).
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