2 min read July 2023 — Invest: spoke with Elizabeth Stockton, CAO and co-founder of Riverside Recovery of Tampa, about getting into the technology space with its new digital platform, the changing stigma of mental health and treatment and how it is transforming the industry by partnering with education. “We want to be an educational center for the public and for Tampa. Our investors really care about Tampa, so we want to help as many people as we can. It is important that we provide a great facility that supports our community,” she said.
What have been some of the biggest highlights and achievements for Riverside Recovery of Tampa over the last year?
We are now in a network with all major health insurance companies, which is a huge achievement. Most of our competitors don’t have that, so people in Tampa are well covered. We also have outgrown our competition, which is amazing. In our opinion, we are by far the most reputable facility in the area, judged by our market research in the community. Financially, we are doing well, and we are expecting more growth moving into the future. Also, I am working on a digital health platform, so we are getting into the technology space. That will be something else that will add to Riverside’s growth over the next few years. We are starting a podcast on mental health awareness and we hope the technology element will play a big part in that.
What are some opportunities that you see for Riverside given the current industry conditions?
There is still a stigma around mental health issues. It is getting better and you are hearing more people talking about it publicly and openly. There is a lot of help, such as with The Phoenix, a sober workout athletic company. There are many health and mental health-oriented businesses, which is cool to see. Ten years ago, there was nothing like that because mental health problems had that stigma. One of our missions at Riverside is to keep the door open and safe and comfortable for people to ask for help.
How is Riverside Recovery transforming the industry?
We are adding more legitimacy and credibility to the substance use treatment industry, especially in the mental health area. We have partnerships with the University of South Florida’s psychiatric department, where we serve as a teaching facility for them. We have psych residents here, which is huge. There are few centers that do that, so we are changing that landscape in Florida. Our programs are all evidence based, which continues to be a resource for Tampa. Our investors really care about Tampa, so we want to help as many people as we can. They are very civic minded and want to be good stewards for the community.
How have innovation and technology impacted your operations and increased your ability to provide quality service?
COVID forced us to move faster and accelerate how we deliver care. After that time, there was a huge gap in digital technology, which is why we are launching a digital platform next year. There is a great deal of potential for technology in this field, even though the substance industry mostly still does things by paper. That is surprising to many. We want to maintain innovation so we can continue to be leaders. Our platform will transform the patient’s experience, which will be huge.
How do you work with patients’ families and loved ones?
We have a whole team of family therapists that contact family members 24 hours after a patient is admitted. Many people don’t want their families involved, so they are working with those patients as well. We need to be flexible and adjust to what they are going through. We are confident in the care we are giving them and we hear that from the families afterward.
What are the biggest challenges that Riverside Recovery is experiencing?
We are struggling with the size of our space and office changes. We want to make sure our growth isn’t jeopardizing our quality of care. We are doing a great job at retaining talent, and we have the ability to scale effectively while maintaining quality care. The other challenge is the digital platform and technology element. This is a huge shift that we need to facilitate for the future. The other thing is finding even ground with insurance companies. We work with our providers regularly but it takes a lot of staff and bandwidth. We need more facilities out there and not fewer, so that is a struggle as well.
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