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Acadia Healthcare Says Public Scrutiny Leading to Lower Volumes, Weaker Financial Projections
Behavioral Health Business October 31, 2024
Bad news at Acadia Healthcare (Nasdaq: ACHC) has translated into a real financial impact.
The behavioral health behemoth experienced lower patient volume growth than expected in October, which company leadership attributed to bad press in its Q3 earnings call. Acadia expects the negative impact to be temporary, according to Heather Dixon, Acadia’s chief financial officer.
“We do, as I mentioned, expect that the recent news coverage and the news of the investigation has had some moderating effect on that growth, but it’s early days,” Dixon said on Thursday’s call. “We see this as largely temporary and we’ve been working with our partners to identify any specific questions that they have.”
In September, patient volume growth remained above 5%, but dropped...
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