Results highlight the keys to growth and staffing in today's behavioral health landscape, including the role that new technologies and payment models will play
CLEVELAND, Feb. 12, 2024 /PRNewswire-PRWeb/ -- Behavioral Health Business, a WTWH Media publication, has released the results of its 2024 Behavioral Health Outlook Survey, identifying the top challenges and opportunities for providers of behavioral health and mental health care services. Despite the remaining challenges in reimbursement and staffing, reason for optimism abounds, as providers see organic growth driving the industry in the year ahead.
Behavioral Health Business conducted the survey in partnership with leading health care services M&A advisory firm The Braff Group, with the objective of learning about how behavioral health care providers are responding to the increased demand for services.
The results show the views of 404 behavioral health professionals in a variety of leadership roles and organizations, painting a bold picture of the industry-wide sentiment in 2024 and beyond.
In summary, respondents indicated:
- Two challenges stand above the rest: reimbursement and staffing.
- Providers are bullish on organic growth in 2024 as the need and demand for behavioral health services nationwide continue to grow.
- Mental health is still the industry’s clear No. 1 most attractive investment target.
"In 2024, behavioral health is at the forefront of conversations from all of its stakeholders: patients, family members and referral partners," said Behavioral Health Business Editor Laura Lovett. "That means providers are more vital than ever in the care of Americans, especially older Americans."
Dexter Braff, President of The Braff Group, also shared his thoughts on the 2024 Outlook Survey:
"The biggest surprise to us in the results? While 57% of respondents reported that value-based payments accounted for less than 10% of revenues, 16% reported that such arrangements accounted for more than 20% of revenues, with 7% more than 50%. As such, despite the comparative difficulty in evaluating and quantifying outcomes in behavioral health, some providers are making significant strides in this area, potentially creating real competitive advantages in the market."
The survey was conducted online between November 14 to December 10, 2023. Access the full survey results here.
About WTWH Media and Behavioral Health Business
WTWH Media is an award-winning, digital-first B2B media and marketing company that connects brand marketers with targeted, hard-to-reach audiences of executives and practitioners. The company serves three core industry verticals including Engineering, Healthcare and Life Sciences, and Foodservice, Retail, and Hospitality. Behavioral Health Business is the leading source for news and information covering the behavioral health and mental health industries. For more information on WTWH Media, please visit wtwhmedia.com.
About The Braff Group
The Braff Group is the leading mergers and acquisitions advisory firm specializing exclusively in health care services including behavioral health, home health, home care and hospice, health care staffing services, home medical equipment, pharmacy services, and ancillary health care services. Unlike many brokers and investment sectors that work many sides of the negotiating table, which can create conflicts of interest, we provide sell-side only transaction advisory services including representation, divestiture strategy, debt and equity recapitalizations, and valuation. Since the firm's inception in 1998, we have closed more than 375 transactions, more than any other mergers and acquisitions advisory firm covering these sectors. For more information, visit thebraffgroup.com or call us at 412-833-5733.
Media Contact
Bob Holly, WTWH Media LLC., 312-796-9949, [email protected], wtwhmedia.com
SOURCE WTWH Media LLC.
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