Behavioral health and psychiatric treatment facilities operator.
Acquired by Bain Capital2015-10-07
Specialized inpatient behavioral health treatment centers
Reduction in nursing staff and replacement of RNs with lower-cost LPNs or aides, leading to longer wait times and reduced quality of care for inpatient psychiatric and behavioral health treatment
Sale-leaseback of Springstone's real estate assets, extracting equity for Bain Capital and potentially leading to higher facility rents and reduced investment in facility maintenance and upgrades
Aggressive upcoding of patient diagnoses and procedures to maximize reimbursements, potentially leading to overtreatment and inappropriate care
Elimination of unprofitable but essential psychiatric and behavioral health services, forcing patients to seek care elsewhere or go without necessary treatment
Announcement of 'optimization' plans, potential leadership changes, and cosmetic improvements to present a positive public image
Staffing cuts begin, with nursing staff reductions and replacement of RNs with lower-cost personnel, leading to early signs of decline in care quality
Noticeable decline in care quality, with longer wait times, reduced time spent with clinicians, and potential service line cuts
Emergence of major issues, such as department closures, quality scandals, and potential financial distress
Potential bankruptcy, facility closures, or sale to another operator, further disrupting access to specialized behavioral health services
Other companies that followed a similar path after PE acquisition
Be vigilant for changes in the quality and accessibility of Springstone's psychiatric and behavioral health services, such as longer wait times, shorter appointment durations, or the elimination of certain treatment options
Advocate for maintaining high-quality, comprehensive psychiatric and behavioral health services in your community, and voice concerns to local policymakers and regulatory bodies if Springstone's care quality declines
Seek out alternative providers or support services if Springstone is no longer able to meet the needs of patients and families in your area
Community-focused healthcare
Integrated managed care consortium