PBN Fastest Growing Companies 2022
1. $5 MILLION to $25 MILLION: AdCare Rhode Island Inc.
CEO (or equivalent): Fred A. Trapassi Jr.
2021 revenue: $13.2 million
2019 revenue: $7.7 million
Revenue growth: 71.4%
ADCARE RHODE ISLAND INC. weathered the COVID-19 storm. Now, the North Kingstown-based organization offering mental health and substance abuse services is poised for further growth.
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The organization’s revenue grew by 71.4% last year compared with 2019. Fred A. Trapassi Jr., AdCare Rhode Island’s CEO, said the organization’s outlook for 2022 is “very good,” with AdCare adding 21 beds to help more people in need.
“Once the 21 beds come online and we go to 80 beds, I think there will be no shortage of people in need of our service, and we look forward to serving all of them,” Trapassi said.
AdCare Rhode Island provides detox and residential services for addiction at outpatient facilities in Smithfield, South Kingstown and Warwick. Trapassi said the expansion will help to address the growing fentanyl epidemic. AdCare, Trapassi says, is the only residential treatment facility in Rhode Island that will start patients on medication-assisted therapies.
“The need is not only in our community, and not only in our state, but across the country. It is unlike anything we have ever seen,” Trapassi said. “We believe strongly that everyone may not be ready to be clean and sober. We believe that the assisted therapies are very good for the right person, at the right time in their life.”
The chances that individuals being treated by AdCare will get on the road to recovery is high. AdCare has an 82% success rate for individuals who want to be put on a medication-assisted treatment or those who may be on methadone and want to detox and get onto suboxone or vivitrol.
AdCare expanded its telehealth initiative during the COVID-19 pandemic and it has plans to increase its outpatient services and add a hybrid health services model.
“Telehealth really helped us,” AdCare Rhode Island Chief Operating Officer Sarah Horgan said. “It allowed people to maintain treatment that they otherwise would not have been able to get. But now that we have seen COVID dying down, we are seeing that people want to get back to more of their reality. Adding hybrid models and adding 20 additional beds will be helpful.”
AdCare offers an intensive outpatient program and individual treatment via telehealth so patients do not have to come into the facility. Horgan says the organization has seen an improvement in offering services to individuals. As a result, it has helped AdCare grow because patients can be at home after work and schedule their appointments via Zoom, Horgan said.
At the height of the pandemic, AdCare saw an increase in people who needed its services. Horgan said people were working from home and experienced isolation. She said AdCare saw more addiction cases and others who needed services.
“Our employees maintained our mission to provide that care, and they did a really good job,” Horgan said.
AdCare also saw a substantial increase in alcohol use during the pandemic, particularly among younger individuals. There was also an uptick in anxiety and depression during the health crisis.
Since becoming part of American Addiction Centers, AdCare has enhanced its website, multimedia marketing and business development. Trapassi says AdCare is working to get the word out to the people in the community of what the organization is and does, some of the improvements AdCare has made within the organization and the amenities offered to patients.
“We have done a very good job in getting the word out,” Trapassi said.
Trapassi also said that AdCare sustained growth during the pandemic due in large part to employee dedication. He says AdCare’s team loves the work they do and they love the people AdCare works with.
“It’s a lot of hard work; this isn’t an easy job for a lot of people, but it is a labor of love,” Trapassi said. “We are committed to the people that we serve. We are all Rhode Islanders; we all live here, we work here, we raise families here.”
