When It's Not Business As Usual: Maintaining Patient Care During BankruptcyNovember 10, 2016
As written in the November/December 2016 MD News Magazine
By, Kate M. Bradley, Attorney, Business Restructuring, Bankruptcy & Commercial Law Practice Group, Brouse McDowell, LPA
In Northeast Ohio and across the country, independent physician groups are increasingly being acquired by hospital systems. There are many reasons for this trend, among them, that physician groups are weary of the administrative headaches associated with shrinking insurance reimbursements, changing regulations and increased business costs. Physician groups that have either declined to assimilate into a larger hospital group or have not been an attractive target may find themselves struggling financially. In some instances, an insolvency proceeding becomes inevitable. Such proceedings contain complexities that do not occur in other industries.
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