Partner Roger Strode was quoted in the Home Health Care News article, “Coronavirus Could Lead to More Home Health Bankruptcies, Legal Experts Predict,” discussing the how many home health care businesses may not be hard hit financially by the pandemic.
“A lot of these small businesses, they don’t have massive amounts of days cash on hand,” he said. “There may be a number of them that are barely struggling to hang on right now, so consolidation may be quicker and easier because there may be a lot of them looking for a lifeline here. We may see a number of bankruptcies in this area, especially with some of these smaller agencies.”
While it’s harder than ever for providers to stay afloat, those who do will likely see more demand and respect for their services in the future, as the coronavirus makes patients and policymakers recognize the home as the safest setting of care, especially for the eldery.
“There’s gonna be a light at the end of the tunnel here as states start to open up again,” Strode said. “And providers are going to start doing elective procedures again. … So if you can hang on another couple of months, you might be fine.