Healthcare, Senior Living, Economics
The healthcare sector has experienced another quarter of record-high distress levels, as indicated by the volume of bankruptcy filings, with the senior living and care sector at the forefront. This bankruptcy trend for senior living remains alarming. In January, I took a look at 2023 bankruptcy levels, the worse year in decades. That post is … Read more
Mid last week, Petersen Health Care, a Peoria, IL based nursing home operator filed for bankruptcy in Delaware. SC Healthcare Holdings LLC, which operates as Petersen Health Care, in federal court filings last Wednesday said it is seeking Chapter 11 bankruptcy protection because of ongoing financial problems partly due to an October ransomware attack and … Read more
As the economy continued to struggle through a high inflationary cycle with restrictive Federal Reserve policy in-place to curb inflation, providers struggled to stay afloat in the turbulent economic waters. Significant financial headwinds in 2023 have only modestly abated at the start of 2024. Labor supply issues (shortages) of direct care staff (other disciplines as well) … Read more