5 latest hospital bankruptcies

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

Here are five hospitals that filed for bankruptcy since April 1, beginning with the most recent:

1. Westlake Hospital in Melrose Park, Ill., filed for Chapter 7 bankruptcy liquidation Aug. 6. Los Angeles-based Pipeline Health acquired the hospital from Dallas-based Tenet Healthcare in January. Pipeline revealed plans to close Westlake Hospital a few weeks after the transaction closed, saying financial losses exceeded projections.

2. Philadelphia Academic Health System and a few of its subsidiaries, including Hahnemann University Hospital and St. Christopher's Hospital for Children in Philadelphia, entered Chapter 11 bankruptcy protection on June 30. PAHS plans to close Hahnemann University Hospital by Sept. 6.

3. Springfield (Vt.) Medical Care Systems filed for Chapter 11 bankruptcy protection on June 26.The health system, which includes 25-bed Springfield (Vt.) Hospital and nine community health centers, said no layoffs are planned and operations will continue as normal during the bankruptcy process.

4. Astria Health, a three-hospital health system based in Sunnyside, Wash., filed for Chapter 11 bankruptcy protection on May 6. Astria plans to use the bankruptcy process to restructure its finances, enter into a plan of reorganization with its creditors and replace its billing company.

5. De Queen (Ark.) Medical Center filed for Chapter 11 bankruptcy on April 3. The hospital, owned by an affiliate of Kansas City, Mo.-based EmpowerHMS, entered bankruptcy after facing financial challenges for months. The hospital closed in May.

More articles on healthcare finance:

11 hospitals with strong finances
Medicare to save $650M under site-neutral pay proposal
How CHS, Tenet, HCA and UHS fared in Q2

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