Healthcare bankruptcies have slowed since a five-year high in 2023, when 12 hospitals and health systems filed for bankruptcy.
Becker's has reported on three hospital and health system bankruptcies since Jan. 1, including Dallas-based Steward Health Care, which operated 31 hospitals in eight states at the start of the year and filed for bankruptcy in May.
Here are the hospital and health system that filed for bankruptcy in the last month:
1. CarePoint Health Systems, based in Jersey City, N.J., filed for Chapter 11 bankruptcy on Nov. 3 to help the health system restructure its finances while ensuring care to patients. The organization secured $67 million in new funding aimed at preserving patient care and maintaining open hospitals during the transition.
The health system includes Bayonne Medical Center, Christ Hospital in Jersey City, and Hoboken University Medical Center, which collectively serve over 60% of Hudson County’s population. Around 65% of CarePoint's patients are uninsured or underinsured.
CarePoint is also advancing plans to affiliate with Hudson Regional Hospital in Secaucus, N.J., under the management of Hudson Health System. Hudson Regional, which already owns Bayonne Medical Center, will acquire Christ Hospital and Hoboken University Medical Center through this partnership.
2. Plymouth, N.C.-based Washington Regional Medical Center, a 25-bed critical access hospital, sought Chapter 11 protection Oct. 29 to continue operating its facilities while financially restructuring. The hospital will remain open following the filing — daily operations will remain uninterrupted and there will be no effect on employees and patients.
The move will help the hospital stabilize its financial position, improve operational efficiency and continue to invest in advanced medical programs, technology and industry professionals.