More than 300 rural hospitals are at immediate risk of closure because of the severity of their financial problems, according to a July 2023 report from the Center for Healthcare Quality and Payment Reform.
New York State ranks highest, with 43% of its 22 rural hospitals facing risk of shutting down.
Hospitals at immediate risk of closure have lost money on patient services for multiple years, excluding 2020 during the pandemic, and are not likely to receive sufficient funds to cover the losses with public assistance ending, according to the report. These hospitals also have low reserves and more debt than assets, Becker’s reports. Read more.
