Cano Health, a once highly valued primary care provider, has filed for bankruptcy, indicating a shift in the profitability of Medicare Advantage. The company's bankruptcy filing is a result of its attempt to reduce debt and could potentially lead to control being handed over to lenders. The government's crackdown on Medicare Advantage practices has impacted the program's profitability, as highlighted by Cano Health's situation. This development reflects a broader trend in the healthcare industry, where previously lucrative opportunities are now facing increased scrutiny and financial challenges.
Cano Health, which left the Valley last year, files for bankruptcy | #RGV https://t.co/JcoY0gqE1J
Steward Health Care’s financial demise has reverberated among the scores of small businesses and other vendors still waiting for the company to pay them for services they provided months or even years ago. https://t.co/IO5SYd22SH
Now that the gov't is cracking down on #MedicareAdvantage shenanigans, the program isn't the gold mine it once was. Exhibit A: Cano Health. "In #healthcare, you can find a loophole for a while, but eventually it will get closed." https://t.co/S4scnmbyZI via @statnews
Cano Health Files for Bankruptcy to Cut Debt, Could Hand Control to Lenders $CANO https://t.co/QrzXuKqmTN
The bankruptcy of primary care provider Cano Health, a company once valued at $4.4 billion, shows Medicare Advantage isn't the gold mine it once was. https://t.co/drGzp5hT7L