Even before the Covid-19 pandemic arrived in the United States early in 2020, observers expected the flow of healthcare services bankruptcies filings by small rural hospitals and other service organizations stressed by regulatory and reimbursement challenges to continue at a steady trickle. Once the economic and social shutdowns began in mid-March, hospitals were forced to suspend elective procedures, emergency room visits plummeted, physician practices largely closed temporarily and home health agencies experienced a wave of visit cancellations. The cost of personal protective equipment, a requirement for healthcare workers, soared to astronomical highs. Of course, merger and acquisition activity plunged in most healthcare sectors, too.
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Source: https://healthcare.levinassociates.com/2021/02/08/healthcare-services-bankruptcies-spiked-in-2020