Novamind (NM.C) announced that they have opened a new Novamind Client Care Center to manage the “overwhelming demand for its treatments”.
The new client care center is located in Murray, Utah and its staff respond to 700 inbound calls from clients, physicians, and caregivers on an average weekday. Before beginning at the center, staff complete a 4-8 week training program, which Novamind says allows them to resolve complex issues. The staff can also coordinate physician referral intakes, fulfill prescription medication requests and treatment pre-authorizations, as well as verify and explain insurance benefits for their clients.
“We are proud of how our clients begin and sustain their therapeutic relationships with our clinics,” said Pierre Bou-Mansour, Chief Operating Officer of Novamind. “As we continue our rapid growth, we remain committed to maintaining a high degree of service while helping new and existing clients access our innovative mental health and psychedelic medicine treatments.”
The Client Care Center is also seen as an important part of Novamind’s expansion of the number of clinics they are operating. Two weeks ago, they announced they were doubling the number of clinics in their network. In that announcement, part of what they said motivated Cedar Psychiatric (NM’s psychiatric clinics) to open four new clinics was that they expect to see 225% more patients in 2021 than they saw in 2020.
They have already begun construction on three of the four new clinics and have leased a property for the fourth. Novamind has previously attributed the increased demand in their services to the adverse mental health effects of the COVID-19 pandemic, but considering the heavy investment they are putting into expanding their capacity, they clearly expect demand to remain up as Utah moves past the COVID-19 pandemic. Yesterday Utah only reported 260 cases of COVID-19, moving the state’s 7-day average to its lowest since June.
Currently, all of Cedar Psychiatry’s clinics have an approximately two-week waiting time to book new appointments.
“Novamind’s expansion plan is six months ahead of schedule,” reported Yaron Conforti, CEO and Director. “The significant growth in patient visits at our clinics is being supported by strategic investments in care delivery support systems. Our investment in the Client Care Center ensures that Novamind will continue to provide best-in-class mental healthcare as we accelerate our clinic network expansion.”
Following the news, Novamind’s shares are down 8 cents and are currently trading at $1.35.
