LifeStance ‘represents the worst of the public markets,’ says The Bear Cave

The Bear Cave issued a new report on LifeStance, saying a day earlier that the company “represents the worst of the public markets.” The Bear Cave believes this company is engaged in “some of the most dishonest, predatory, and potentially illegal conduct of any major public company.” According to the report, there are “dozens” of complaints concerning overbilling, fraudulent billing, and unfair and deceptive business practices, with complaints alleging a pattern of misconduct including allegations that LifeStance is scheduling therapy appointments without the knowledge of patients to incur cancellation and no-show fees, allegations that LifeStance added unearned billing codes to patient bills, allegations that LifeStance sends bills to people that have never used its services, and multiple employee reviews concerning billing fraud. The Bear Cave also notes “concerning” allegations with state regulators alleging fraud.