Steward Health Care Crisis Sparks Investigation into Private Equity Ownership in Massachusetts Healthcare

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

Lawmakers in Massachusetts are currently holding a hearing to examine private equity ownership in the healthcare sector, particularly amid the financial crisis at Steward Health Care. This crisis has brought attention to the lack of transparency from companies like Steward, which owns nine hospitals in the state.

If Steward were to pull out of Massachusetts, it would have a significant impact on access to healthcare for hundreds of thousands of people. Governor Maura Healey has criticized the company’s management for this situation. During the hearing, a government watchdog warned about the dangers of industry consolidation, for-profit ownership and private equity investment in healthcare.

The Health Policy Commission’s Executive Director David Seltz presented data showing that private equity involvement in healthcare transactions in Massachusetts has increased significantly 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 urgent need for action to address these trends before they escalate further.

The data presented by Seltz highlights growing concerns about private equity ownership and its impact on healthcare practices in Massachusetts. As the industry continues to evolve, transparency and accountability are becoming increasingly important to ensure that patients receive high-quality care and that their rights are protected.

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