Some health systems in Massachusetts have filed for bankruptcy or ended services this year, as they navigate financial struggles.
Here are four Massachusetts healthcare bankruptcies or closures that have occurred in 2023:
- In December, Dallas-based Steward Health Closure announced that it is closing Stoughton, Mass.-based New England Sinai Hospital this spring. Steward lost $22 million from the rehab hospital, which the health system attributed largely to low reimbursement rates.
- In October, Gardner, Mass.-based Heywood Healthcare filed for Chapter 11 bankruptcy protection. The health system said that it was dealing with issues related to workforce shortages, supply chain problems, low reimbursement rates, and a costly EHR install. In November, the health system said that it was closing its urgent care center to the public.
- In June, Springfield, Mass.-based Vibra Hospital of Western Massachusetts, a long-term acute care hospital, announced its plan to lay off workers ahead of its closure.
- In June, Quincy, Mass.-based Compass Medical Group, a network that includes 70 providers and six clinics, filed for Chapter 7 bankruptcy.