5 hospital bankruptcies so far in 2018

From reimbursement landscape challenges to dwindling patient volumes, many factors lead hospitals to file for bankruptcy.

Here are five hospitals that have filed for bankruptcy since Jan. 1, beginning with the most recent.

1. Florence (Ariz.) Hospital at Anthem entered Chapter 11 bankruptcy May 24 after three employees jointly filed an involuntary bankruptcy petition for the hospital in April seeking $46,650 in wages.

2. Gilbert (Ariz.) Hospital, which is affiliated with Florence Hospital at Anthem, entered Chapter 11 bankruptcy May 24. Creditors are seeking more than $1.9 million from the hospital.

3. The Miami Medical Center, a 67-bed hospital that suspended services in October 2017, filed for Chapter 11 bankruptcy protection March 9. The hospital is slated to be sold in auction in late June.

4. Iron County Medical Center, a critical access hospital in Pilot Knob, Mo., filed for Chapter 9 bankruptcy Feb. 21. The hospital is owned by the Iron County Hospital District.

5. Surprise Valley Health Care District, which operates 26-bed Surprise Valley Hospitalin Cedarville, Calif., filed for Chapter 9 bankruptcy Jan. 4. In June, local residents voted to sell the hospital to an entrepreneur who runs two labs in Denver.

More articles on healthcare finance:

Anthem's new imaging policy likely to hit hospitals' profits
Lee Health scales back hiring, raises as operating margin declines
Texas hospital considers bankruptcy as debt mounts

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