• Fri. Jun 14th, 2024

Steward Health Care Sells Physician Group to Optum Care Amid Financial Struggles and Criticism from Senator Markey

BySamantha Jones

Mar 27, 2024
Optum Care acquires physician group from struggling Steward Health Care

Steward Health Care in Massachusetts is selling its physician group to Optum Care, as reported by Senator Edward J. Markey. The news comes as the company faces financial instability due to accumulated debt. Steward Health Care operates nine health care facilities in Massachusetts and was previously owned by Cerberus Capital Management, which made $800 million in profit from the company.

Senator Markey expressed concerns about Steward’s financial situation and the impact it has on hospitals in Massachusetts and beyond. He emphasized the importance of moving away from Steward’s financial insecurity for the Massachusetts healthcare system. He hopes that Optum Care will prioritize controlling costs and prioritizing patients and providers.

Markey criticized the healthcare system for focusing more on profit than patient outcomes. He believes that healthcare reform is necessary to address these issues. As the chair of the Senate HELP Subcommittee on Primary Health and Retirement Security, Markey has invited Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3.

For more information, contact the writer at SMorse@himss.org

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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