Senior Living Drives Health Care Industry Distress in Final Quarter of 2021 – GlobeNewswire

Posted: February 21, 2022 at 6:28 pm

NEW YORK, Feb. 21, 2022 (GLOBE NEWSWIRE) -- A flurry of bankruptcy filings from senior-focused health care facilities has shaped the U.S. economic distress in the fourth quarter of 2021, which is detailed in the newest Polsinelli-TrBK Distress Indices Report.

The report, released today by Am Law 100 firm Polsinelli, explains how senior living-focused organizations, independent/assisted living communities and skilled nursing facilities represent a significant portion of the health care bankruptcy filings as health care begins its return to pre-pandemic numbers. These health care facilities are dealing with decreased patient census, increased operating costs, and significant pressure on staffing and labor costs.

We anticipate that the bankruptcy filing numbers will continue to increase, especially in the health care and real estate industries, as we enter 2022. We havent seen the end of COVID-19 yet and the massive federal assistance that has kept facilities afloat will end soon, said Polsinelli Shareholder Jeremy Johnson, a bankruptcy and restructuring attorney and co-author of the report.

The Polsinelli-TrBK Distress Indices are the backbone of a quarterly research report series that uses Chapter 11 filing data bankruptcies with more than $1 million in assets as a proxy for measuring financial distress in the overall U.S. economy and breakdowns of distress specifically in the real estate and health care services sectors.It is the only current measurement that tracks both Main Street and Wall Street statistics.

Other significant updates in the report include:

The Polsinelli-TrBK Distress Indices track the increase or decrease in all Chapter 11 filings with more than $1 million in assets since the fourth quarter of 2010. Unlike the public markets, the Polsinelli-TrBK Distress Indices include both public and private companies, creating a broader economic view and one that may show developing trends on Main Street before they appear on Wall Street.

To access the full report, graphs and all past analyses, visitwww.distressindex.com.

About Polsinelli

Polsinelli is an Am Law 100 firm with 950 attorneys in 21 offices nationwide. Recognized by legal research firm BTI Consulting as one of the top firms for excellent client service and client relationships, the firms attorneys provide value through practical legal counsel infused with business insight, and focus on health care, financial services, real estate, intellectual property, middle-market corporate, labor and employment and business litigation. Polsinelli PC, Polsinelli LLP in California.

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Senior Living Drives Health Care Industry Distress in Final Quarter of 2021 - GlobeNewswire

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