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Increase in health care organization bankruptcy filings in 2022: Report

Posted On: Jan. 16, 2023 10:50 AM CST

As a result of financial pressure stemming from the pandemic, labor shortages, rising expenses, and inflation, there was an increase in the number of large health care organization filing for bankruptcy in 2022, reports Healthleaders Media. Large health care bankruptcy filings – Chapter 11 cases with greater than $10 million in liabilities – in the fourth quarter of 2022 were almost three times the number of filings in the first quarter of 2022, according to research from Gibbins Advisors. Bankruptcies in the first half of 2022 were dominated by the senior care sector, while the latter half of the year saw a greater number of bankruptcies from the pharmaceutical sector, the report says.