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Envision files for bankruptcy: 6 details

Envision Files for Bankruptcy: 6 Details

Envision blames declining patient volumes, payers excluding Envision clinicians from their networks and not providing adequate reimbursement for care, the implementation of the No Surprises Act, rising inflation, and the national clinician shortage.  All of Envision’s debt — excluding a revolving credit facility for working capital — will be equitized or canceled, deleveraging about $5.6 billion. Envision said it will continue to operate as usual throughout the restructuring process.  Becker’s CFO Report, May 17, 2023

AOP Response: We’re not worried. We encourage all our practices to be in-network with all reasonable payors. Our financial stability doesn’t rely on sending patients bills to collect monies above contracted amounts. Moreover, unlike Envision and its private equity sponsor KKR, StonePoint has not leveraged AOP with excessive debt.

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