In this episode of MasterMined, returning guest L.A. Galyon of Brentwood Capital Advisors joins Mark Scrivner, Jeff Skillen, and Lee Pepper to unpack what he's seeing across healthcare investment as the industry heads toward 2026. Fresh off the J.P. Morgan Healthcare Conference, L.A. breaks down capital trends, valuation realities, and why behavioral health remains one of the most compelling—yet misunderstood—sectors for investors.

The conversation digs into why outpatient and hybrid care models are gaining momentum, how payer dynamics and middlemen continue to distort incentives, and what founders must do now to build durable, investable businesses. L.A. also offers candid perspective on private equity's reset, realistic valuation expectations, and the operational discipline required to pass diligence in today's market.

Key Moments

• 01:09 – Why JP Morgan sets the tone for healthcare investing each year

• 03:50 – The shift from provider roll-ups to "picks and shovels" investments

• 04:52 – Why behavioral health is still early in its lifecycle

• 08:19 – Moving care out of facilities and into lower-cost settings

• 12:36 – The growing frustration with healthcare middlemen

• 18:05 – What private equity learned from the last three years

• 24:15 – Why decisive buyers are winning deals again

• 36:20 – What actually drives higher multiples in behavioral health

• 42:36 – How much providers should really be spending on marketing

• 48:27 – Three things leaders should do now to build long-term value

Learn More & Connect Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with L.A. Galyon: https://www.linkedin.com/in/l-a-galyon-88244321/ | https://www.brentwoodcap.com Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com

In this episode of MasterMined, Mark Scrivner and Jeff Skillen sit down with Andrew Kessler, Principal at Slingshot Solutions, to demystify how behavioral health policy actually gets made in Washington. Andrew breaks down the difference between lobbying and advocacy, why education—not emotion alone—drives sustainable change, and how funding decisions ultimately determine whether legislation delivers real impact. From parity and appropriations to today's shifting political trade winds, this conversation equips behavioral health leaders with a clearer lens on how to engage policy strategically and effectively.

Key Moments

• 01:28 – Introducing Andrew Kessler and Slingshot Solutions

• 02:17 – Advocacy vs. lobbying: what's the real difference

• 05:56 – Why legislation takes years—and why the calendar matters

• 08:10 – Andrew's path into behavioral health policy

• 17:31 – The real story behind parity and "right place, right time"

• 29:53 – Three things every advocate must understand

• 36:09 – Why appropriations and funding are the real engine

• 45:37 – Current political trade winds impacting behavioral health

• 1:00:44 – What leaders should watch next in policy and funding

Learn More & Connect Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with Andrew Kessler: https://www.linkedin.com/in/andrew-kessler-5a10666/ | https://www.slingshotsolutions.net Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Our Sponsor - Snapshot: https://snapshotinteractive.com

Ward Blanchard joins MasterMined to share his deeply personal journey from a life-altering medical diagnosis and substance use disorder to becoming a nationally respected behavioral health entrepreneur. Ward unpacks how family systems, leadership accountability, and operational clarity shape better clinical outcomes—especially in outpatient care. This conversation is a practical guide for behavioral health leaders navigating growth, culture, and long-term impact.

Key Moments

• 00:00 – A life-changing diagnosis and the start of Ward's recovery journey

• 06:21 – Losing a future identity and confronting trauma

• 12:53 – How unresolved grief shapes addiction and leadership

• 16:07 – Why recovery and careers both require long-term thinking

• 20:26 – Why rare diseases get better care than addiction

• 23:37 – Early career lessons for professionals entering behavioral health

• 30:03 – The costly mistake of hiring friends

• 37:08 – Three leadership lessons every founder must learn

• 45:29 – Why accountability and metrics matter in outpatient care

• 59:22 – Why the industry must stop relying on patient motivation alone

Learn More & Connect Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with Ward Blanchard: https://www.linkedin.com/in/ward-blanchard-b782978a/ | https://www.theblanchardinstitute.com/ Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com

In this MasterMined episode, Mark Scrivner, Jeff Skillen, and Lee Pepper break down what performance-based budgeting really means for behavioral health organizations. From aligning marketing and finance around shared metrics to building budgets from real conversion data—not vibes—this conversation reframes marketing spend as a growth roadmap. Leaders will walk away with practical guidance on accountability, data discipline, and how to plan marketing investments that actually support admissions and capacity.

Key Moments

• 00:00 – Why marketing must claim its seat at the financial table

• 03:29 – Marketing as a revenue engine, not just an expense

• 06:05 – Turning the telescope backwards to build a smarter budget

• 11:51 – Defining "conversion" across the entire funnel

• 14:05 – Using historical data to forecast realistic growth

• 21:38 – Applying a portfolio model to emerging marketing channels

• 23:16 – The "parking lot" method for managing shiny new ideas

• 32:16 – Why delaying your next budget puts you behind

• 37:43 – Reframing budgets as roadmaps, not constraints

Learn More & Connect Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com

In this episode of MasterMined, the hosts sit down with Megan Reinhardt, Co-Founder and CEO of RAE Health, to explore how wearable technology and digital biomarkers are reshaping behavioral health treatment. Megan shares her journey into the substance use disorder space, why RAE Health prioritized rigorous research over rapid adoption, and how real-time physiological data can help clinicians and patients identify stress and cravings before they escalate. This conversation unpacks the future of measurement-based care, clinician adoption, and what it truly means to build people-first technology in behavioral health.

Key Moments 00:32 – Megan's path into behavioral health and substance use disorder 03:45 – What RAE Health stands for: Realize, Analyze, Engage 05:02 – Eight years of NIH-funded research and peer-reviewed outcomes 06:32 – Detecting stress versus cravings using wearable data 09:42 – Barriers to adoption and reimbursement in behavioral health tech 13:56 – Surprising insights on user adoption across age groups 18:35 – How real-time awareness changes relapse prevention 21:21 – Understanding physiological data before conscious awareness 26:42 – Small behavior changes that create lasting impact 39:33 – Why focusing on the problem—not the money—matters most

Learn More & Connect Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with Megan Reinhardt: https://www.linkedin.com/in/megan-reinhardt-71923826 | https://raehealth.com Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com

In this episode of MasterMined, hosts Mark Scrivner, Jeff Skillen, and Lee Pepper unpack the realities of reputation management in behavioral health. From navigating negative reviews and activating a "posse of positivity" to preparing for media scrutiny and five-alarm PR crises, the conversation offers practical frameworks leaders can implement before reputational issues escalate. The hosts emphasize proactive planning, human-centered communication, and disciplined response strategies that protect trust, culture, and long-term brand equity.

Key Moments

• 01:22 — Why reputation hits harder in behavioral health

• 03:08 — The danger of emotional responses to negative reviews

• 05:32 — Researching complaints to find the grain of truth

• 07:05 — Curiosity vs. blame as a leadership mindset

• 11:14 — Turning a one-star review into a five-star outcome

• 14:16 — Activating a "posse of positivity" to rebalance ratings

• 20:12 — Why "no comment" is never the right answer

• 21:41 — Building a crisis response team before you need it

• 39:14 — Why human-to-human conversation still matters most

Learn More & Connect Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com

In this episode of MasterMined, hosts Jeff Skillen, and Lee Pepper sit down with John Thomas, President and Publisher of Psychology Today, to unpack how one of the most iconic brands in mental health has stayed relevant for nearly six decades. John shares how editorial integrity, science-based content, and an uncompromising stance on trust have fueled the platform's evolution across print, digital media, and the world's largest therapist directory. From AI and content authority to directory ethics and future pivots, this conversation offers timeless lessons for behavioral health leaders navigating rapid change.

Key Moments:

• 01:51 – Introducing John Thomas and the legacy of Psychology Today

• 03:50 – Why most legacy media failed—and why Psychology Today didn't

• 05:42 – The three-pronged business model: magazine, website, and directory

• 08:06 – Playing offense and defense in a volatile media landscape

• 12:07 – Why journalistic-quality content still matters

• 12:54 – The science-first philosophy behind Psychology Today

• 16:48 – How video transformed therapist-patient matching

• 19:35 – AI, search, and protecting content authority

• 26:39 – Why the therapy directory forbids paid placement

• 37:13 – What's next: custom media, events, and future pivots

Learn More & Connect Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with John Thomas: https://psychologytoday.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com

In this episode of MasterMined, hosts Mark Scrivner, Jeff Skillen, and Lee Pepper sit down with Dr. Ali Farooqui to explore what's broken in today's mental health system—and how it can be fixed. From destigmatizing psychiatric diagnoses to building a quality-first clinical model, Dr. Farooqui shares how Healthy Minds Tennessee is redefining access, outcomes, and patient experience. The conversation spans interventional psychiatry, leadership in clinical teams, and why "good enough" simply isn't good enough in mental health care.

Key Moments

• 00:00 – Why mental health disorders are brain disorders, not personal failings

• 02:31 – Dr. Farooqui's journey from neurosurgery to psychiatry and healthcare leadership

• 04:55 – Building Healthy Minds: aligning values, care delivery, and business strategy

• 08:22 – Removing stigma by focusing on health instead of pathology

• 12:10 – Drawing the line between normal emotions and diagnosable disorders

• 18:18 – Why "good enough" is not good enough in psychiatric care

• 22:50 – Designing clinics that respect patients' time and dignity

• 30:05 – Ketamine, TMS, and the future of interventional psychiatry

• 34:09 – When "buzzy" treatments lead to real clinical breakthroughs

Learn More & Connect

Show Notes + Resources: https://snapshotinteractive.com/mastermined

Connect with Dr. Ali Farooqui: https://www.linkedin.com/in/farooquimd | https://psychiatrynashville.com, integrativepsy.com

Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com

Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com

Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com

Our Sponsor - Snapshot: https://snapshotinteractive.com

In this episode of MasterMined, our hosts Mark Scrivner, Jeff Skillen, and Lee Pepper break down one of the industry's most persistent—and least discussed—challenges: the holiday slump. They unpack why programs are often caught off guard, how seasonality trends repeat every year, and what proactive leaders can do to stabilize census, strengthen admissions performance, and support teams during a naturally stressful season. From strategic marketing allocation to admissions talk tracks, business development adjustments, and operational readiness, this episode delivers a practical, multidimensional plan to mitigate dips and keep momentum strong through year-end.

• 01:16 Why leaders treat the holiday slump like a surprise—even though it happens every year

• 02:34 Predictable seasonal cycles and why programs must plan early

• 04:37 Rethinking marketing allocation: avoid the instinct to "cut when it's tight"

• 05:27 "Lean in when it feels tight": the Warren Buffett analogy for marketing strategy

• 06:06 How business development teams can shift tactics when referrers are on vacation

• 08:42 Why admissions talk tracks must adapt for holiday objections

• 10:41 Showcasing holiday programming to reduce family hesitation about sending loved ones to treatment

• 16:08 The two must-haves for leaders: documentation and emotional steadiness during census dips

Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com

In this episode of MasterMined, Doug Edwards—Senior Vice President at HMP Global—pulls back the curtain on what truly makes a behavioral health conference succeed. From long-range planning to the advisory board process, from AI-driven disruption to timeless in-person connection, Doug shares practical, candid insight for leaders navigating a rapidly evolving landscape. Whether you sponsor, speak, or attend, his guidance helps you elevate your presence, sharpen your strategy, and maximize the value of every conference experience.

• 00:00 – What really grabs attention on a conference floor

• 00:19 – Introducing Doug Edwards and his work shaping premier behavioral health events

• 01:30 – Doug's career path from journalism to leading major healthcare conferences

• 05:51 – How COVID reshaped conferences and revived the power of in-person connection

• 08:10 – Why conference attendance is rising again—and what attendees are valuing most

• 10:56 – Why Nashville became home to major national summits

• 12:43 – The hidden work behind building an agenda and securing top-tier speakers

• 14:46 – Hot-topic trends shaping agendas: GLP-1s, AI, and evidence-based sessions

• 17:49 – How fast AI changed the conference landscape and sparked a new summit

Show Notes + Resources: https://snapshotinteractive.com/mastermined Connect with Doug Edwards: https://www.linkedin.com/in/doug-edwards-086956b | https://www.hmpglobal.com Connect with Mark Scrivner: https://www.linkedin.com/in/markscrivner | https://snapshotinteractive.com Connect with Jeff Skillen: https://www.linkedin.com/in/jeffskillen | https://www.skillsetenterprises.com Connect with Lee Pepper: https://www.linkedin.com/in/leepepper | https://www.neveroutmatched.com Our Sponsor - Snapshot: https://snapshotinteractive.com