May 21, 2024 2:31 pm
Struggling Steward Health Care to sell majority of operations to Optum Care

Steward Health Care Network, a hospital group in Boston, is facing financial difficulties and has amassed millions of dollars in debt. To address these struggles, the hospital group has decided to sell a significant portion of its operations. They have filed a notice with the state of Massachusetts, stating that Optum Care, a subsidiary of UnitedHealth Group, will be purchasing Steward’s physician network. This means that doctors currently employed by Steward in nine different states will soon be working for Optum Care.

The sale does not include the physical hospitals owned by Steward, but there are indications that more transactions may be on the horizon. The Massachusetts Health Policy Commission (HPC), an independent state agency responsible for monitoring healthcare spending, still needs to review the proposed sale. According to HPC Executive Director David Seltz, the sale involves two large medical providers with significant implications for healthcare delivery and costs in Massachusetts. The HPC will examine potential impacts on health care costs, quality, access, and equity before the sale can be completed.

Steward currently owns ten hospitals in Massachusetts, including Morton Hospital in Taunton, St. Elizabeth’s Medical Center in Brighton, and Good Samaritan Medical Center in Brockton, among others. Mike Toole, the Managing Editor at wbz.com in Boston, has been working in the WBZ-TV newsroom for over 20 years and has previous experience in news and sports production at WABC-TV in New York.

The sale of Steward’s physician network marks a significant step towards addressing the hospital group’s financial struggles. With Optum Care taking over their operations

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