A Primer on Private Equity Ownership in ABA

Morris et al. (2024) wrote a plain-language map of private-equity (PE) buyouts in ABA. They list what PE firms want and what can go wrong.

The paper has no new numbers. It is a warning guide for owners and clinicians who may sell or work under PE control.

The authors show a trade-off. PE cash can open new clinics fast, but owners may be pushed to bill more units and cut quality.

Risk flags include short appointment times, lean staffing, and bonus plans that reward volume over client progress.

Lerner et al. (2012) ran a lab test on pay-for-performance. Staff worked harder when paid per check processed, echoing the PE bonus model Morris warns about.

Cudré-Mauroux et al. (2020) found that partnership-style care lifts self-determination. PE cost cuts could crowd out the extra time needed for those partnership talks.

Finney et al. (1995) asked BCBAs to treat entire training systems with performance management. Morris updates that call, aiming it at corporate owners rather than university programs.

If you supervise or plan to sell, use the paper as a checklist. Ask who sets session length, who approves materials, and how bonuses are tied. Put those answers in writing before you sign. Guard the partnership moments that give clients real choice.