Apr 11, 2017

New problems for a behavioral health chain

Seth Wenig / AP

Rosalind Adams of Buzzfeed has published her latest feature on Universal Health Services, the for-profit chain of psychiatric and acute-care hospitals, depicting a culture of violence, neglect and "mass chaos" at a UHS-owned behavioral health facility that mostly treats children in Oklahoma. The report also unearthed videos that show raw footage of potentially abusive restraint and a child being thrown into seclusion.

Why this matters: It's another massive blow to the country's largest operator of behavioral health facilities and could spur public and investor pressure. Buzzfeed's initial investigation into UHS from December, which drove the company's stock down by 12%, detailed the pressure to fill beds. The company — led by Alan Miller, the richest CEO in the hospital industry — has defended its care and practices.

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Scoop: Instacart raises another $100 million

Illustration: Sarah Grillo/Axios Visuals

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Why it matters: This funding comes at what could be an inflection point for Instacart, as customers it acquired during coronavirus lockdowns decide whether they want to continue with the service or resume in-person grocery shopping.

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Illustration: Sarah Grillo/Axios

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Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.

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