Becker's Healthcare December 18, 2024
Bankruptcies in healthcare hit a five-year high in 2023, when 12 hospitals and health systems filed for bankruptcy. This trend has slowed in 2024, as average operating margins have improved across the hospital sector.
Here are seven hospital and health system closures to know in 2024:
1. Pontiac (Mich.) General Hospital sought Chapter 11 protection Nov. 23, a move that came after the hospital filed a Nov. 15 WARN notice to cut 248 employees after learning it lost Medicare funding. The hospital believes the Medicare fund exclusion is temporary and should last no more than six months.
2. Bradenton, Fla.-based MCR Health, a nonprofit medical group, sought Chapter 11 protection Nov. 11. Some of the operational decisions, which...
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