VeriCare Management Revenue and Competitors

VeriCare (formerly Senior Psychology Services) was incorporated and began serving patients in the summer of 1991. The Company was founded shortly after Medicare began recognizing psychologists as independent health care providers to Medicare beneficiaries. Before this, older adults could not receive psychological treatment unless they paid out-of-pocket for these professional services. Another event precipitating the development of VeriCare was the growing national trend toward nursing home reform. Much of this reform took place during the 1980's, and culminated in the federal Omnibus Budget Reconciliation Act (OBRA) of 1987, which mandated several changes in the care of nursing home residents, emphasizing patient rights and quality of life issues.