FRANKLIN, Tenn. - Acadia Healthcare (NASDAQ:ACHC) Company, Inc. (NASDAQ: ACHC) has teamed up with Uber Health (NYSE:NYSE:UBER) to provide transportation for patients seeking behavioral health care and addiction treatment. The collaboration aims to address the challenge of transportation barriers that can delay the start of necessary medical treatment.
The initiative will initially focus on Acadia's Comprehensive Treatment Centers (CTCs), where medication-assisted treatment (MAT) is provided alongside counseling and behavioral therapies, particularly for opioid addiction. Starting with 19 facilities, the program is expected to expand to additional locations and patient populations in the future.
According to Dr. Nasser Khan, Group President at Acadia Healthcare CTC, reliable transportation is a significant hurdle for patients needing timely addiction treatment. The partnership with Uber Health is designed to overcome this obstacle, potentially reducing the wait time for patients to begin essential treatment and removing financial impediments to transportation access.
Uber Health will facilitate rapid transportation for patients who are either awaiting government-funded transport or are in urgent need of care, ensuring they can attend their appointments without delay. This service is anticipated to not only shorten the wait to start treatment but also to minimize disruptions in ongoing care for current patients who might otherwise miss appointments due to lack of transportation.
Caitlin Donovan, Global Head of Uber Health, emphasized the importance of behavioral healthcare and the necessity for patients to access it without transportation being an impediment. The partnership is set to enhance patient outcomes on a larger scale by enabling quick and reliable access to care facilities.
Acadia has utilized Uber Health services at several CTC facilities in recent years, and this national-level collaboration is aimed at providing consistent transportation services that could lead to better patient recovery outcomes. The Uber Health platform is instrumental in facilitating care early in the recovery process.
This initiative is based on a press release statement from Acadia Healthcare Company, Inc., the largest stand-alone behavioral healthcare company in the U.S., which operates a network of 253 facilities with about 11,200 beds across 38 states and Puerto Rico.
InvestingPro Insights
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) has been proactive in addressing the needs of patients seeking behavioral health care by partnering with Uber Health, reflecting a commitment to improving accessibility to treatment. As investors consider the implications of this partnership, several financial metrics and analyst insights from InvestingPro provide a broader context for evaluating Acadia's market position and future prospects.
InvestingPro Data shows Acadia's Market Cap at approximately $7.02 billion, with a notable Revenue Growth over the last twelve months as of Q4 2023 at 12.2%. This growth is indicative of the company's expanding operations and could be further bolstered by initiatives like the Uber Health collaboration. Additionally, Acadia's adjusted P/E Ratio for the same period stands at 16.46, which may offer insights into the company's valuation relative to its earnings.
Moreover, two InvestingPro Tips highlight critical aspects for investors. Firstly, despite not being profitable over the last twelve months, analysts predict the company will be profitable this year. This expectation aligns with Acadia's strategic moves, such as the recent partnership, which could drive improved financial performance. Secondly, it's important to note that the stock generally trades with low price volatility, providing a level of stability for investors.
For those interested in a deeper analysis, InvestingPro offers additional tips that could guide investment decisions. There are 6 more InvestingPro Tips available, including insights into analyst earnings revisions and short-term financial obligations. To access these valuable insights, visit https://www.investing.com/pro/ACHC and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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