So what is it about a regulatory environment..huh??..?

Posted: June 23, 2012 in The People Involved

NY Psychiatrist Creates Empire

Dr. Richard Kresch, a former New York-Presbyterian/Columbia psychiatrist, has created a national behavioral health company. Ascend Health, a privately held company with executive offices in Manhattan, was launched in 2005. It has since acquired eight psychiatric hospitals—five of them in Texas—and is a major provider of care for TriCare. Still in growth mode, Ascend is in negotiations to buy a ninth facility. Despite the company’s success in owning and operating behavioral health facilities, Dr. Kresch said there is little chance of opening a facility in New York, because of the difficulty of operating as a for-profit company in the state. “The regulatory climate’s a lot better for us in the Southwest,” he said. Dr. Kresch previously ran a chain of skilled nursing facilities and another psychiatric hospital company called Heartland Health Developments.

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