In November, the company reported that media scrutiny caused its referral volumes to dip slightly. On the company’s Feb. 28 investor call, Mr. Hunter said the issue was resolved across the company’s facilities.
Acadia is very engaged with its key referral sources, Mr. Hunter told investors.
“We have been very intentional about consistent outreach, to correct any of the misunderstandings that were created from the media reporting,” he said. “We’ve consistently emphasized for them the quality of the care that we provide, the substantial investments that we’re making in safety, compliance, and quality over the last two years and that we continue to make.”
In September, The New York Times published an investigation alleging Acadia detained patients beyond medical necessity and blocked patients from leaving, using laws meant for those who pose an imminent threat to themselves or others as justification.
Acadia Healthcare executives have called the reports inaccurate.
After the Times investigation was published, Acadia disclosed that it was being investigated by Justice Department offices in Missouri and New York related to its admissions, length-of-stay and billing practices.
The company is also being investigated by the Department of Veterans Affairs on allegations of fraud, according to the Times.
Acadia reported its fourth-quarter and full-year 2024 earnings Feb. 27. The company brought in $3.2 billion in revenue in 2024 and added 1,300 beds through new construction.
The company is focused on improving a “handful of underperforming facilities” that dragged down the company’s same-facility growth in the fourth quarter, Mr. Hunter said. Acadia is evaluating programming, leadership and technology implementation at these facilities, he said.
“It’s a comprehensive suite of things we’re looking at,” Mr. Hunter said. “[We’re] working very closely with our operational leadership and getting very granular on the ground level.”
Franklin, Tenn.-based Acadia Healthcare operates more than 250 facilities. The company plans to add between 800 and 1,000 new beds in 2025, Mr. Hunter said.
