Business
Acadia Healthcare Reports First Quarter 2020 Results
Withdraws Full-Year 2020 Guidance Due To COVID-19 Uncertainty FRANKLIN, Tenn.--(BUSINESS WIRE)-- Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today
About this update from Acadia Healthcare Company, Inc.
[{"type":"text","content":"\nWithdraws Full-Year 2020 Guidance Due To COVID-19 Uncertainty\n\n FRANKLIN, Tenn.--(BUSINESS WIRE)--\nAcadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the first quarter ended March 31, 2020, and provided an update on the impact of the COVID-19 pandemic.\n\n\nClinical and Operating Response to COVID-19\n\n\nThroughout the COVID-19 crisis, Acadia’s top priorities have been and continue to be the health and safety of our patients and employees. The Company’s 40,000 employees are providing care to approximately 75,000 patients daily across our network of 588 facilities in the U.S., U.K. and Puerto Rico. In the weeks and months ahead, behavioral healthcare providers like Acadia will continue to play an essential role in caring for patients who need treatment. Our strong local leadership and staff in our facilities are very focused on meeting that demand and providing our patients with high-quality care. In response to the COVID-19 pandemic, the Company has taken the following actions, among others:\n\n\n\nThe Company implemented recommended precautionary measures to ensure the ongoing safety and well-being of everyone in our facilities. These steps include applying robust screening procedures for all patients and employees, restricting or suspending visitor access to our facilities, and limiting group therapy, among many others.\n\n\nAll facilities are closely following infectious disease protocols, as well as recommendations by the CDC and local health officials.\n\n\nIn support of stay-at-home orders, the Company increased utilization of technologies to better serve market demand, including telehealth options for patients and virtual visitations for families.\n\n\nThe Company developed additional supply chain management processes, including extensive tracking and delivery of key personal protective equipment (PPE) and supplies, and sharing resources across all of our facilities.\n\n\nThe Company established a taskforce of key leaders that meets daily to address concerns, develop action plans and monitor responses throughout our facilities.\n\n\nThe Company commenced a national behavioral health crisis hotline designed to offer immediate assistance to anyone in need of mental health or addiction treatment. The centralized 24/7 crisis line, 1-833-TREATBH, offers immediate, no-charge, clinically a...