NO LOVE AT HAZELDEN-BETTY FORD FOUNDATION
It is amazing that in the midst of a government-declared opioid crisis and rampant substance abuse that one of the nation’s premier addition treatment providers reduced their headcount by 57employees. Citing a reduction in self-paid admissions and reduced reimbursement rates from insurers, management also cited cash-flow issues arising from the implementation of their new electronic health record system. It appears that it may not be the patient record portion of the system that is causing problems, but the modules associated with payment submission and processing. The foundation’s size is relatively small, compared with general medical service providers. According to management, there was a loss of $10.1 million in the first three quarters; as measured against $135 million in revenue. This certainly looks like an attractive acquisition target for any well-run health provider that can benefit from their storied name.