We Are Not Owned by Private Equity — and Here's Why That Matters
The short answer: Believing is Achieving has no private equity sponsor, no venture capital investors, and no corporate parent. We are independently owned by a Board Certified Behavior Analyst. Our clinical decisions answer to families, not to a growth target or an eventual sale.
What's happened in the ABA industry
Over the past decade, investors recognized that autism services offer steady, insurance-funded revenue in a fragmented industry with many acquisition targets — and moved in at scale. The Center for Economic and Policy Research documented private equity taking advantage of "this steady cash flow in a fragmented industry with many opportunities for consolidation — all in the context of no minimum provider service standards and little or no regulatory oversight" (CEPR).
Reporting has followed the consequences. STAT News interviewed more than three dozen families, clinicians, and experts; parents described providers using "cookie-cutter templates" instead of individualized plans, and being "hounded to bring their kids to more and more therapy" — some pressured toward more than 40 hours a week (STAT News). A 2026 Private Equity Stakeholder Project report found that PE-backed ABA providers "may seek to reduce costs by simplifying treatment plans or reducing staff training and supervision" (PESP). The 74 documented "a massive influx of private equity players capitalizing on the autism" boom (The 74).
To be clear: plenty of good clinicians work at investor-backed companies, and many families have good experiences there. This isn't about the people delivering care. It's about who sets the incentives above them.
How our structure is different
| Investor-backed model | Believing is Achieving | |
|---|---|---|
| Ownership | Private equity, venture capital, or corporate parent | Independently owned by a BCBA |
| Primary accountability | Investors and growth targets | Families |
| Setting | Clinics (capital assets that need to be filled) | In-home only, always |
| Hour recommendations | Can trend toward what insurance allows | Based on your child's needs and your family's capacity |
| Growth goal | Scale, expansion, eventual sale | Be the best, not the biggest |
| Therapist assignment | Typically assigned | You help choose |
| Waitlist | Common; often 6–12 months in Illinois | None |
What we will not do
We will not recommend excessive therapy hours because insurance allows it. We will not move your child into a clinic model for convenience or margin. We will not assign you unfamiliar therapists. We will not put your family on a waitlist. And we will not grow in a way that compromises the quality of care we can deliver.
How to verify any provider's ownership
Ask directly: "Who owns this company, and is there a parent company or investor group?" A straightforward answer is a good sign. Look up their NPI registration. Search the company name alongside "acquired," "acquisition," or "portfolio." And check whether the clinical leadership named on the website actually holds clinical credentials.
Our NPI is 1548043524, registered to Believing is Achieving with Mariah Biscan as the authorized official, Founder/BCBA.
Common questions
Is Believing is Achieving owned by private equity?
No. Believing is Achieving has no private equity sponsor, no venture capital investors, and no corporate parent. The practice is independently owned by a Board Certified Behavior Analyst, so clinical decisions answer to families rather than to a growth target or an eventual sale.
Why did private equity move into ABA therapy?
Investors recognized that autism services offer steady, insurance-funded revenue in a fragmented industry with many acquisition targets. The Center for Economic and Policy Research documented that consolidation happening in a context of no minimum provider service standards and little or no regulatory oversight.
What has reporting found about investor-backed ABA providers?
STAT News interviewed more than three dozen families, clinicians, and experts; parents described cookie-cutter templates instead of individualized plans and pressure toward more hours. A 2026 Private Equity Stakeholder Project report found PE-backed providers may simplify treatment plans or reduce staff training and supervision.
How can I verify who owns an ABA provider?
Ask directly whether there is a parent company or investor group. Look up the provider's NPI registration, search the company name alongside acquired, acquisition, or portfolio, and check whether the clinical leadership named on the website actually holds clinical credentials.