From Senior Housing News
by Mary Kate Nelson
The number of health care companies, some senior housing organizations among them, that filed for Chapter 11 bankruptcy jumped dramatically in the first quarter of 2016, hitting record post-recession levels.
And it may get worse before it gets better, according to Jeremy Johnson
, a restructuring attorney in the New York office of Kansas City, Missouri-based firm Polsinelli. The firm recently published the Healthcare Services Distress Research Index for the first quarter of 2016.
The Index reflects Chapter 11 filings amongst health care companies, including hospice agencies, senior care communities and hospitals, with assets of more than $1 million. The indices are based on independent data gathered and given to Polsinelli exclusively by the TrollerBK.com bankruptcy service. Polsinelli does not specifically break out the number of senior care and hospice organizations included in the Index.
The Healthcare Services Distress Research Index hit 151.67 for the first quarter of 2016—the highest level since the end of the Great Recession in the fourth quarter of 2010, and an increase of 30 points since the fourth quarter of 2015, Johnson told Senior Housing News.
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