May 22, 2024 5:31 pm
Optum Care acquires physician group from struggling Steward Health Care

Senator Edward J. Markey has raised concerns about Steward Health Care in Massachusetts, which is facing financial instability due to accumulated debt. The company operates nine health care facilities in the state and was previously owned by Cerberus Capital Management, which made $800 million in profit from Steward.

Markey criticized the healthcare system for prioritizing profit over patient outcomes and called for healthcare reform to address these issues. He believes that Steward’s financial instability could have a negative impact on hospitals in Massachusetts and beyond. To this end, he has invited Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3.

As the chair of the Senate HELP Subcommittee on Primary Health and Retirement Security, Markey emphasized the importance of moving away from Steward’s financial insecurity for the Massachusetts healthcare system. He hopes that Optum Care, which is purchasing Steward’s physician group, will prioritize controlling costs and prioritizing patients and providers. For more information, contact the writer at SMorse@himss.org.

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