180:, maintaining a profit margin of 25%, compared to an average of 6% in other facilities, and employed one-third fewer staffers per bed resulting in higher profits for the organization. The company was fined multiple times for safety violations, and at one facility, the federal government took the unusual step of termination from the Medicare program, and withholding federal funds from one facility, for a period of over four months, costing the organization at least $ 1.5 million in lost revenue. After the CEO, Joey Jacobs, replaced a management team at one facility, saying it would "continue to get better," the problems continued.
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reported that
Psychiatric Solutions was being investigated for breach of fiduciary duty, lying to investors about safety issues at its facilities, and other violations of state laws. Allegations that the director and other company officials made material misstatements and omissions about the company
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and other news organizations, reported on substandard care, inadequate training, and staffing shortfalls at
Psychiatric Solutions, resulting in injuries, sexual assault, and deaths, in a number of their facilities, nationwide.
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finances and liabilities, in order to inflate stock prices, caused its stock prices to drop, resulting in large losses for shareholders. As more reports were published about the problems at the company, the
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Patience ... Patients: How
Universal Health Systems became the top inpatient psychiatric services provider | Psychiatry & Behavioral Health Learning Network
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for over 20 years, founded
Psychiatric Solutions, Inc. in 1997. On May 17, 2010 Psychiatric Solutions was purchased by
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During the investigation, it was discovered that the company was earning nearly two-thirds of its revenue from
299:"Florida Regulators Stop Admissions to Manatee's Palms Youth Services - Psychiatric Solutions Inc.'s Troubles"
477:"Patience ... Patients: How Universal Health Systems became the top inpatient psychiatric services provider"
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448:"UHS—For-Profit Psych Hospital's $ 132 Million Payout Over DOJ & MA Fraud Investigations"
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Joey A. Jacobs, Bryce DeHaven, Clayton McWhorter, Richard
Treadway, & Douglas Lewis
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Joey Jacobs and Bryce DeHaven, former executives of
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Medical and health organizations based in
Tennessee
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Psychiatry & Behavioral Health
Learning Network
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156:In 2008,
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178:Medicaid
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