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Client Testimonial
Rapid growth, rapid response
“We’re a public service. If someone is suicidal, we have to be there. We have 24- hour emergency services and same-day walk-in service. We simply couldn’t afford not to continue delivering services… even though we weren’t being paid for them.”
– Jamie Lehane, Newport Mental Health
Jamie Lehane is President and CEO of Newport Mental Health, a nonprofit center serving children, adolescents, adults and families challenged by mental illness, substance abuse and stress in greater Rhode Island. Since its beginning in 1964, thousands have come to rely on Newport Mental Health’s services.
In 2016, Medicaid, the Center’s main source of funding, suddenly changed their reimbursement system which meant payments were delayed for months. That sudden change caused a lot of stress on the financial stability of the Center, along with their eight community mental health programs. Jamie was very concerned that services would have to be reduced or even suspended. Newport Mental Health needed a banking partner who could help quickly with a cash stabilization solution.
Webster met with Jamie in order to learn more about Newport Mental Health and the challenges it was facing. The good news was despite those challenges, the business was strong. Webster put together a team of specialists who built a personalized plan for the Center that addressed both short- and long-term financial needs including:
Newport Mental Health regained their fiscal strength and has been able to expand their service lines including Horizon Pharmacy, specializing in psychiatric medications. This start-up has grown to be a $10 million business serving more than 1,000 customers. Newport Mental Health has also been able to bring in new mental health partners and provide services to assisted living and skilled nursing facilities.
All loans are subject to credit approval.
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