ASC operator Envision to file for bankruptcy

ASC operator and physician services company Envision plans to file for Chapter 11 bankruptcy, according to a May 10 report from The Wall Street Journal. The filing could happen as early as this weekend, according to the report. 

Envision has been battling high labor costs and was recently in a dispute with UnitedHealthcare in which the insurer alleged Envision was billing routine visits as unnecessarily complex care. 

Envision has about $7 billion of debt outstanding and has been exploring bankruptcy. It missed a March 31 quarterly reporting deadline and skipped an April interest payment. 

Financial experts expect an uptick in bankruptcies this year, according to the report. 

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