Gardner, MA-based Heywood Healthcare has filed for Chapter 11 bankruptcy protection, citing a string of challenges “hindering its sustainability.”
The independent health system — which consists of Heywood Hospital in Gardner, Athol (Mass.) Hospital, Heywood Medical Group and The Quabbin Retreat — is facing many of the same issues as other community hospitals, according to Becker’s. Workforce shortages, supply chain issues and low reimbursement rates have contributed to financial instability.
In addition, the hospital has undergone a “costly and lengthy” electronic medical record transition while managing aging infrastructure and a “milestone construction project” — a new surgical pavilion set to open in April 2024. Read more.
