For more than a decade, Jackson Hospital & Clinic reported rising revenue while repeatedly failing to achieve financial stability, according to its IRS Form 990 filings.
From 2011 through 2022, the hospital’s annual revenue increased from roughly $183.5 million to nearly $333 million, an increase of more than 80 percent. Over that same period, however, the hospital recorded losses in six of those 12 years. Even in years when Jackson Hospital reported a surplus, margins were thin, typically below 2 percent. The most recent publicly available Form 990, for 2022, shows a net loss of approximately $8.4 million despite record revenue. IRS filings for 2023 and 2024 are not publicly available.
That long-running financial instability now intersects with the hospital’s Chapter 11 bankruptcy and a court-approved debtor-in-possession financing agreement that governs how the hospital operates while attempting to reorganize…