HIGHBuilt-inCustomer
57.7%
Medicaid
“10-K Item 1: 'we received 57.7% of our revenue from Medicaid, 24.6% from commercial payors, 14.3% from Medicare and 3.4% from other payors'”
ACHC · Concentration risk · 10-K extracted
Acadia Healthcare Company (ACHC) concentration risks
Updated
The most significant concentration Acadia Healthcare Company discloses is Medicaid at 57.7%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Acadia Healthcare Company’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
Pennsylvania, California and Tennessee
“10-K Item 1A: 'we have substantial operations in Pennsylvania, California and Tennessee, which makes us especially sensitive to regulatory, economic, environmental and competitive conditions'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24Acadia Healthcare's concentration profile is dominated by its payor mix: the company received 57.7% of revenue from Medicaid in the most recent reported period, with the remaining balance divided across commercial payors at 24.6%, Medicare at 14.3%, and other payors at 3.4%. By disclosed size, the Medicaid share is large — well over half of total revenue — and its character is structural, reflecting the patient population that behavioral health and psychiatric services inherently serve rather than a single contractual relationship with a commercial counterparty. That said, Medicaid is a government program whose reimbursement rates and coverage policies are set by federal and state authorities, meaning the structural nature of the dependency does not insulate the company from policy or budget-driven changes in reimbursement. The geographic dimension adds a secondary layer: the company has substantial operations concentrated in Pennsylvania, California, and Tennessee, making it especially sensitive to regulatory, economic, and competitive conditions in those states. By disclosed size this is a moderate geographic exposure, and it is structural in character — the footprint reflects where facilities have been developed rather than a single-name counterparty. These two exposures interact in a meaningful way: a large share of revenues comes from state-administered Medicaid programs, and those programs vary significantly by state. Substantial operations in three specific states amplify the sensitivity to state-level Medicaid policy rather than diversifying it. Investors should track Medicaid rate-setting and budget decisions in Pennsylvania, California, and Tennessee as the most direct channels through which policy risk could affect results.
For the engine’s reasoning on ACHC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Care Facilities
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| DVA | DaVita Inc. | 2 | 1 | 0 | 3 |
| CON | Concentra Group Holdings Parent | 2 | 0 | 0 | 2 |
| BKD | Brookdale Senior Living Inc. | 1 | 2 | 0 | 3 |
| ACHC● | Acadia Healthcare Company, Inc. | 1 | 1 | 0 | 2 |
| CHE | Chemed Corp | 1 | 1 | 0 | 2 |
| ADUS | Addus HomeCare Corporation | 0 | 2 | 4 | 6 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.