logo
Insurance plans help boost growth in the healthcare industry

Insurance plans help boost growth in the healthcare industry

Business Mayor25-04-2025

ABA Centers of America had only its founder as an employee when it was set up five years ago with the aim of helping people with autism.
A rise in diagnoses of the neurodevelopmental condition has since spurred demand for ABA's services.
'There is an increasing percentage in prevalence and incidence of autism that contributes to our rise,' says chief executive Jason Barker, adding that the company delivers a service that 'is materially different'.
The group, which provides one-on-one sessions with behaviour therapists for those with autism spectrum disorder, today has more than 1,000 staff members and has recently clocked the region's best growth rate.
ABA generated a compound annual growth rate of 595.3 per cent between 2020 and 2023 to top the Financial Times' ranking of the Americas' 300 fastest-growing companies.
Recommended
The healthcare and life sciences industry is among the most successful sectors on the list, accounting for nearly 10 per cent of the fastest-growing companies. The sector has benefited from US companies providing staff with insurance plans that support businesses such as ABA and those providing fertility treatment.
ABA, meanwhile, is a personal endeavour for its founder Christopher Barnett, who spent years fighting to receive a diagnosis for his daughter and gain access to appropriate treatment.
Like the Barnetts, other American families face long waiting lists to have a child assessed. Nearly two-thirds of speciality care centres in a 2023 survey by Cognoa, a child development and behavioural health company, reported waiting times of more than four months between an initial evaluation request and an assessment. This can stretch to years in some cases. Read More Governments should not be the cyber insurers of last resort
ABA's success comes at a time when more than 3 per cent of school-aged children in the US have been diagnosed with ASD, a paper from the Centers for Disease Control and Prevention shows.
The study collected data in 2022 and found prevalence of ASD among children aged 8 had risen from previous years. The figures highlight the need for 'enhanced planning to provide equitable diagnostic, treatment and support services for all children with ASD', the paper said. An ABA care centre set up to help people with autism. The company tops the FT300 list this year © Liz Grady/ABA Centers
ABA Centers says it will typically have a child seeing a therapist within 47 days. The therapist will work with the child at home and in clinics for up to 40 hours a week.
US legislation and state-level mandates have increased access to ABA therapy coverage through insurance plans. By 2019, every American state had put in place requirements for corporate schemes to include the treatment of autism.
'All of a sudden, you have kids, [who] otherwise would have gone without care because their parents couldn't afford it, [with] a health plan coverage that means they can actually get the care,' says Barker.
The increased emphasis on corporate benefits has also prompted a surge in demand for surrogacy and egg donation agencies, such as Patriot Conceptions, which focuses on military families, and Progyny.
As many as 70 per cent of US companies with more than 20,000 employees and nearly half of those with more than 500 employees provide insurance for in vitro fertilisation, the latest data from the workplace consultancy Mercer shows. That is double the coverage five years ago.
Meanwhile, technology has evolved partly because demand for fertility treatment in the US has surged as many women opt to give birth at a later age. One in six people globally will struggle with fertility, the World Health Organization said in 2023.
Patriot Conceptions, ranked 41 and founded by US army veteran Haotian Bai, uses artificial intelligence to match surrogates and intended parents. 'The unique stresses of military life — deployments, separations, environmental exposures — can take a toll on fertility,' says Bai.
'Our proprietary matching algorithm goes beyond surface-level criteria,' he adds. 'It analyses hundreds of data points — medical history, psychological profiles, location preferences, communication styles, personal values — to facilitate faster, more compatible, and ultimately more successful matches.'
This reduces waiting times and the 'emotional strain' on both parents and surrogates, says Bai, and has resulted in hundreds of babies being born into military and veteran families. 'From the outset, we integrated AI not as a replacement for the human touch, which is paramount in this journey, but as a powerful enabler,' he says.
The group had a compound annual growth rate of 121.3 per cent from 2020 to 2023.
Progyny, set up in 2008 and ranked 190 in 2025, manages a network of specialists across the US to offer fertility, post-partum and menopausal care to millions of women.
Peter Anevski, its chief executive, says it is 'a reality' that women are struggling with fertility yet 'unnecessary coverage gaps have persisted for far too long'.
Employers and health plans now recognise the need for a more comprehensive approach and, as a result, Anevski says the company has grown extensively. 'With more than 530 leading employer clients and 6.7mn [people covered] under our belt, we're only just getting started,' he says. Read More Bank turmoil does not justify mission creep by deposit insurance

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Shark Tank's Kevin O'Leary warns Americans on 401(k)s
Shark Tank's Kevin O'Leary warns Americans on 401(k)s

Miami Herald

time28 minutes ago

  • Miami Herald

Shark Tank's Kevin O'Leary warns Americans on 401(k)s

Most American workers generally understand that Social Security monthly paychecks will one day significantly contribute to their future retirement income. But because those Social Security benefits are not by themselves enough to provide people with the financial resources they need to live on comfortably, most also recognize that 401(k) plans and IRAs (Individual Retirement Accounts) are additional tools necessary for securing their financial future. However, finding the extra money to contribute to these accounts can be a significant challenge. Kevin O'Leary, a prominent entrepreneur and investor widely known for his appearances on ABC's "Shark Tank," shares a method that enables workers to cut expenses and direct more money toward their 401(k) and IRA savings. He also offers a stark financial warning. Don't miss the move: Subscribe to TheStreet's free daily newsletter Participating in an employer-sponsored 401(k) plan is a dependable way to build retirement savings, especially when employers offer matching contributions. With automatic payroll deductions, this method allows employees to invest in their future effortlessly, making it both practical and efficient. Related: Jean Chatzky sends strong message to Americans on Social Security IRAs, on the other hand, provide a wider selection of investment options not typically available through 401(k) plans. However, they require more hands-on management, as individuals must open an account and set up automatic contributions independently. In addition to a major warning, O'Leary offers valuable advice on how individuals can cut costs and increase their retirement contributions, which for many Americans primarily consist of 401(k) plans. Many workers who are committed to contributing as much money as they can toward their 401(k) plans find it difficult to do so because their spending habits leave little left to put away for the future. In fact, O'Leary emphasizes, many people spend more than they make - and are working in large part to finance their debts and pay their bills. "You are in constant fear of losing your job, or of your assets losing their value. You worry that one big, unexpected bill might put you under for good, and then you avoid that thought," described O'Leary in his book, "Cold Hard Truth on Men, Women and Money." "You're avoiding the phone and people to whom you owe money. Maybe you're retreating from friends and family out of fear or shame," O'Leary continued. "You're steeped in magical thinking about money - for example, believing you're one lottery ticket, inheritance, or windfall away from total financial transformation." "You wake up in despair and you go to bed defeated. You don't live within your means because you don't even know what they are." More on retirement: Jean Chatzky shares major statement about Social SecurityDave Ramsey sounds alarm for Americans on retirementScott Galloway warns Americans on 401(k), US economy threat O'Leary explains that people who feel this describes them to any degree should correct it immediately. He offers a first step people can take to get a handle on where they stand financially. Related: Dave Ramsey warns Americans on Social Security In order to increase retirement savings and add a larger percentage of their income to 401(k) plans, people first need to get a good feel for where they are financially. O'Leary suggests simplifying money management down to a single figure - either positive or negative. He encourages individuals to calculate their total earnings over three months, calling this their 90-Day Number. The process starts with identifying income. If pay stubs aren't easily accessible, reviewing bank statements can help track all incoming funds, including salaries, side jobs, and other sources of cash flow. Next, he recommends listing all expenses separately - small purchases such as coffee, clothing, and snacks, as well as major costs such as bills, debt payments, rent, and car loans. The key step is subtracting total expenses from total income. If the result is positive, the individual is in good financial shape and can immediately consider increasing their 401(k) contributions. A negative outcome signals a need for adjustments. The extent of necessary changes depends on how much spending exceeds earnings, requiring smarter budgeting to create space for investments in long-term financial security, O'Leary explains. In the latter instance - after some planning, budgeting and hard work - a person can still reach the point of increasing investments in their 401(k) plans. Related: Dave Ramsey sends major message to Americans on IRAs, Roth IRAs The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

With the NCAA landscape changing, can small schools thrive in college athletics without the big bucks?
With the NCAA landscape changing, can small schools thrive in college athletics without the big bucks?

Chicago Tribune

time35 minutes ago

  • Chicago Tribune

With the NCAA landscape changing, can small schools thrive in college athletics without the big bucks?

ORLANDO, Fla. — As schools prepare to begin sharing millions with their athletes, there is no avoiding the reality that if you're not a Power Four school, you're at a disadvantage. With major conferences running the show, St. Bonaventure and Florida International don't even have a seat at the table. FIU and St. Bonaventure aren't necessarily worried about a head-to-head fight over top players with deeper-pocketed schools. The priority has become survival and finding a balance between athletics ambition and financial sustainability. Adrian Wojnarowski spoke candidly about the challenges he faced during his inaugural season as the general manager of the St. Bonaventure men's basketball team. Solidifying a recruiting class that would improve the team and embrace the school culture was not easy. After July 1, when lucrative paychecks will pretty much become mandatory for blue-chip prospects, it's not going to get any easier. With some 2,000 undergraduate students, the Bonnies are outnumbered in resources and revenue when competing even against other Atlantic 10 teams like VCU, Dayton, and Saint Louis. Wojnarowski, ESPN's former lead NBA reporter, thinks he has identified a formula for locating the ideal prospect. To him, St. Bonaventure is a landing spot for international players adjusting to a new culture and college life, transfers who may have fallen short at a high major and need development, or those looking to move up to a mid-major. He admits the school in upstate New York could be a pit stop on a player's journey. 'I want them to see that our environment, our coaching staff, our small school, especially for international players coming over, what I really try to sell is your adjustment to American college life,' he said at the National Association of Collegiate Directors of Athletics and Affiliates Convention this week. 'I think for a lot of kids, it's easier in a school with 1,900 students than a school with 19,000. And you'll come to have two great years with us, and then you'll probably end up at schools with 19,000 or 29,000,' he said. 'And so you're selling, for us, we're your first step on the way to somewhere else, or the other one to me is we're the place to come when you've got to get the basketball right.' Female athletes appeal landmark NCAA settlement, saying it violates federal antidiscrimination lawIf the plan goes awry and a recruit slips away, one thing the former NBA insider refuses to do is blame the money. 'Fundraising is hard, creating new revenue streams is hard, but the one thing that I try to stay away from with us is not saying, 'Oh, we didn't get him because they offered more money,' and using that as a crutch all the time. I really examine when we lost a player,' Wojnarowski said. 'Are we being honest with ourselves in saying that we did everything outside the economics to make our case to this person?' FIU has more than 40,000 undergraduates, but the athletic department is using a similar philosophy, pinpointing advantages and opportunities to come from the settlement instead of the negatives. Similar to St. Bonaventure, FIU doesn't expect to come close to the $20.5 million revenue-sharing cap available over the next year. For a competitive edge, unlocking new revenue streams is fundamental. 'To compete, from a revenue standpoint, you have to think outside the box of your conventional fundraising and targeting donors,' senior associate athletic director Joseph Corey said. 'That's why you're looking at concerts being held at different venues, different festivals to generate extra revenue to bring in, different revenue streams, and not just fundraising going after the same donors. You've got to go beyond that in order to be able to compete.' Being based in Miami has its perks. Proximity to celebrities is one of them. In August, FIU secured a 10-year partnership with Pitbull, the singer and rapper who coins himself 'Mr. 305.' 'We did the partnership with Pitbull – Pitbull Stadium. He's on tour, but part of the deal was that he would be collaborating with us and doing events for us from a fundraising standpoint,' Corey said. 'You've got to think outside the box. Especially in a city like Miami, it's about the experience too.' Schools unlocking creative revenue streams is something that can be expected. FIU competes in Conference USA alongside teams like Liberty, Louisiana Tech, UTEP, Kennesaw State and Jacksonville State. The football team went 3-5 in 2024, finishing sixth in the conference. The men's basketball team finished last with a 3-15 conference record. It's hard to sell donors on losing teams. 'Let's call it what it is, FIU's not going to be able to keep up with the Alabamas of the world, the Georgias, Michigan, or Texas, but what can we do? We can be the best in our conference. That is our goal,' Corey said. 'Let's be the best in our conference and really compete there because once you're at the top of your conference, that means more revenue in other areas. Everyone wants to donate to a winner.'

Could 76-seat, two-class American Airlines jets soon be based at Harrisburg Int'l Airport?
Could 76-seat, two-class American Airlines jets soon be based at Harrisburg Int'l Airport?

Yahoo

timean hour ago

  • Yahoo

Could 76-seat, two-class American Airlines jets soon be based at Harrisburg Int'l Airport?

HARRISBURG, Pa. (WHTM) — It still has fewer flights and higher fares than larger airports, but that has been changing at Harrisburg International Airport, which also has something few other airports its size have: an airline's maintenance and crew base. Since 2022, Piedmont Airlines, which flies the 50-seat ERJ-145s commonly seen at the airport ('ERJ' stands for 'Embraer regional jet'), has based dozens of pilots and flight attendants at the airport, complementing a maintenance base that opened years earlier. Piedmont — which is headquartered in Salisbury, Maryland, and is a subsidiary of American Airlines — also has a Harrisburg-based human resources team. The Harrisburg presence means a lot of direct jobs and — although this part is harder to quantify — indirectly perhaps some flights that might not otherwise exist, because American has to route planes through Harrisburg for maintenance and to get its people to and from work. For perspective, Delta operates three daily flights to its Atlanta hub, which is the world's busiest airport, according to an abc27 analysis of Cirium schedule data; American operates seven daily flights to Charlotte. (Delta, operating larger aircraft, offers about half as many seats to Atlanta as American offers to Charlotte despite having fewer than half as many flights.) But there was an important potential problem for Piedmont's future — and thus for the future of its base in Harrisburg: Manufacturers haven't produced 50-seat jets in years, and airlines have been phasing them out in favor of larger regional jets, which passengers generally find to be more comfortable and airlines generally find to be more economical to operate. Piedmont currently operates 69 ERJ-145s, which are on average almost 22 years old, according to an abc27 analysis of Cirium airline fleet data. That meant one of two things: Sooner or later, either the airline would have to either phase in new planes — or phase itself out of existence, as other regional airlines have done (most recently Silver Airways just Wednesday, which once flew small planes branded 'Continental Express' for United's predecessor Continental Airlines). Fortunately for Piedmont — and by extenstion, for Harrisburg — the far better outcome is emerging: Piedmont announced it'll get 76-seat Embraer 175s, known as E175s, beginning in 2028. Unlike the current all-economy 50-seat jets, Piedmont's E175s — like others already flown for American by other regional airlines — will have 12 business-class seats in addition to 64 economy seats. 'So seeing that they're getting an upgrade in aircraft that allows them to continue their mission of flying for American and being part of the Central Pennsylvania community is really good news,' Scott Miller, Harrisburg International Airport's spokesman, said. 'The expansion represents a significant investment by parent company American Airlines Group,' Piedmont said in a statement of the 45 eventual E175s it expects to receive. During the transition, the airline plans to continues operating its 50-seat jets 'well into the 2030s,' the statement said. 'They provide all of our service to Philadelphia, to Boston, as well as some to Charlotte,' Scott Miller said of Piedmont. 'So upgrading to larger aircraft — more comfortable aircraft — is a huge benefit for the airport, for the region and for those who fly American.' Download the abc27 News+ app on your Roku, Amazon Fire TV Stick, and Apple TV devices Harrisburg is just one of three crew bases for Piedmont, alongside much larger Philadelphia and Charlotte, which are both American Airlines hubs. Piedmont has maintenance bases at those three airports plus Salisbury; Albany, New York; and in Virginia, Richmond and Roanoke. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store