Becker's Healthcare January 23, 2025
While healthcare bankruptcy filings declined 28% from a six-year peak in 2023, 2024 saw the second-highest level of bankruptcies since 2019, according to a Jan. 22 report published by Gibbins Advisors, a healthcare restructuring advisory firm.
Hospitals bankruptcy filings dropped to five in 2024 from 12 in 2023, though Dallas-based Steward Health Care System’s 31-hospital bankruptcy was the largest in three decades. Senior care and pharmaceuticals comprised nearly half of 2024 filings. Clinics/physician practices hit a six-year high with 10 filings, compared to an average of four annually from 2019-2023.
“We’ve already observed a rise in bankruptcy filings among physician practices, and the 2.83% reduction in Medicare’s physician fee schedule for FY2025 will further strain this sector, impacting both physician...
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