• Fri. May 24th, 2024

Steward Health Care Network’s Financial Struggles Lead to Sale of Physician Network to Optum Care: Massachusetts Health Policy Commission to Review Implications

BySamantha Jones

Mar 27, 2024
Struggling Steward Health Care to sell majority of operations to Optum Care

Steward Health Care Network in Boston is facing financial struggles and has accumulated millions of dollars in debt. In response to this, the hospital group has decided to sell a major part 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 who are 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.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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