Clinics and physician practices recorded six bankruptcy filings in 2025, down from ten filings in 2024, according to a report from Gibbins Advisor published Jan. 22.
Here are 10 more stats to know:
1. Clinics and physician practice bankruptcies increased in the second half of 2025, rising from one case in the first half of the year to five cases in the second half.
2. Overall healthcare Chapter 11 bankruptcy filings declined 21% in 2025 to 45 cases, marking a second consecutive annual decrease after peaking at 79 filings in 2023.
3. Despite the decline, 2025 filing volumes remained slightly above the 2019 to 2022 average of approximately 42 cases per year.
4. Healthcare bankruptcies in 2025 were front-loaded, with about 38% of the year’s total, occurring in the first quarter.
5. Roughly two-thirds of healthcare bankruptcies in 2025 involved middle-market companies with liabilities between $10 million and $100 million.
6. Middle-market filings accounted for about 67% of all healthcare bankruptcies in 2025, up from approximately 60% in 2024.
7. Very large healthcare bankruptcies with liabilities exceeding $500 million declined to six cases in 2025, down from nine cases in 2024.
8. Senior care bankruptcies increased 18% in 2025, rising from 11 cases in 2024 to 13 cases.
9. Hospital bankruptcies increased 60% in 2025, growing from five cases in 2024 to eight cases.
10. Pharmaceutical bankruptcies fell to 10 cases in 2025, roughly half the 20 cases recorded in 2023.
