Physician Practice, Clinic Bankruptcies on the Rise: 8 Things to Know

The Gibbins Advisors Interim 2026 Healthcare Bankruptcy Report was featured in a recent Becker’s Physician Leadership article by Francesca Mathewes, which outlined eight key takeaways from the report. The research tracks Chapter 11 filings in the healthcare sector from January 2019 through June 2026 for companies with more than $10 million in liabilities.

The article noted that overall filing activity held near its long-term average, with 12 filings in the first quarter of 2026 and 14 in the second, in line with the roughly 12.5 filings per quarter recorded since 2019. Meanwhile, bankruptcies among companies with $10 million to $50 million in liabilities are on pace to finish 2026 up 57% from 2025, and clinics and physician practices accounted for almost 30% of filings in the first half of the year — on pace for their highest annual total since 2019.

Gibbins Advisors Principal and Co-Founder Ronald Winters was quoted in the article: “The relative stability in healthcare bankruptcy filings is surprising considering the on-the-ground pressures we see operators facing every day. There is a lot bubbling under the surface that will ultimately need to be resolved in some form of restructuring, though not all will be resolved in court.”

Principal and Co-Founder Clare Moylan was also quoted: “The period through COVID and its aftermath was defined by labor and workforce challenges. While those issues remain, the next chapter for healthcare will be defined by the ability to get paid, and how much is paid, for services provided.”