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) to raise their revenue forecast, Behavioral Health Business reports.

Positive payer trends in the market reflect the imbalance of high demand and a limited supply of behavioral health services. Still, companies need to execute well to convert demand into financial success. Read more.

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Senators Crack Down on Nonprofit Hospitals’ Charity Care, Tax-Exempt Status

In a pair of letters sent to federal tax commissioners, lawmakers including Sen. Elizabeth Warren, D-Mass., and Sen. Chuck Grassley, R-Iowa, urged a review of charity care tax regulations — which exempt nonprofit hospitals from paying federal taxes in exchange for subsidized care — arguing that current government oversight is “lax” and insufficient.