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

Steward Health Care Crisis Prompts Urgent Inquiry into Private Equity’s Impact on Massachusetts Healthcare

Massachusetts lawmakers are currently holding a hearing to discuss the impact of private equity ownership on healthcare. The focus of this hearing comes as Steward Health Care, which owns nine hospitals in Massachusetts, is facing a financial crisis. State Senator Campbell has expressed a need for more transparency from Steward Health Care.

Governor Maura Healey has criticized the management of Steward Health Care for the current situation. On Monday, lawmakers listened to a top government watchdog who warned about the implications of industry consolidation, for-profit ownership, and private equity investment in healthcare.

The Health Policy Commission Executive Director, David Seltz, shared data showing the increasing involvement of private equity interests in healthcare transactions in Massachusetts. The percentage of transactions involving private equity has more than doubled in recent years. This trend has raised concerns among lawmakers and healthcare officials, highlighting the need for urgent action to address these issues.

Overall, there is a growing focus on the impact of private equity, for-profit ownership, and industry consolidation on the healthcare system in Massachusetts and across the country. The recent crisis at Steward Health Care has brought these concerns to the forefront, prompting calls for reform. The urgency to address these issues is paramount to ensure the continued accessibility and affordability of healthcare services.

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