Behavioral Health Business December 19, 2023
2023 has been a tumultuous year for the behavioral health space. Macroeconomic headwinds, including rising interest rates and unrest in Eastern Europe and the Middle East, slowed down deal-making. Additionally, many providers struggled to raise more capital as investors tightened the purse strings.
At least two major companies in the space have filed for bankruptcy. Others faced a challenging economic climate by shuttering programs and laying off workers.
Payers have also had a rocky year. The feds have called out several large health plans for their behavioral health ‘ghost networks’. Additionally, payers are working out the future of virtual behavioral health care coverage, primarily virtual IOP and PHP coverage.
Still, there have been some glimmers of hope for the...
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