Steward Health Care to Participate in Hearing at Massachusetts State House on Monday – NBC Boston
Health

Private Equity Ownership at Steward Health Care: A Look at the Financial Crisis and the Need for Change

Amid the ongoing financial crisis at Steward Health Care, Massachusetts lawmakers are holding a hearing to examine private equity ownership in the healthcare sector. The crisis has raised concerns about the lack of transparency from companies like Steward, which owns nine hospitals in the state.

Governor Maura Healey has placed blame on the company’s management for this situation. Lawmakers heard from a government watchdog warning about the dangers of industry consolidation, for-profit ownership, and private equity investment in healthcare during the hearing.

Health Policy Commission Executive Director David Seltz presented data showing a significant increase in the involvement of private equity in healthcare transactions in Massachusetts over recent years. The percentage of transactions involving private equity interests has more than doubled, raising concerns about the future of healthcare in the state. Seltz emphasized the need for urgent action to address these trends before they escalate further.

The data presented by the Health Policy Commission underscores the growing concerns about the impact of private equity ownership in the healthcare industry. The need for transparency and accountability in healthcare practices is becoming increasingly urgent as the industry continues to evolve.

LEAVE A RESPONSE

As a content writer at newsauntering.com, I am Samantha Johnson—a wordsmith with a fervent love for storytelling and a keen eye for captivating readers. With a diverse background in journalism and digital marketing, I craft compelling narratives that engage, inform, and inspire our audience. Whether unraveling breaking news stories or delving into thought-provoking features, my aim is to deliver content that resonates and leaves a lasting impact. Join me on a journey through the ever-evolving landscape of news and narratives at newsauntering.com.