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

Lawmakers in Massachusetts are currently holding a hearing to discuss the issue of private equity ownership in healthcare, with a focus on Steward Health Care, which owns nine hospitals in the state. The company is facing a financial crisis and considering withdrawing from the state, which would impact the accessibility of healthcare for hundreds of thousands of people. 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 that the percentage of transactions involving private equity interests in healthcare transactions in Massachusetts has more than doubled in recent years. This trend has raised concerns among lawmakers and healthcare officials.

The recent crisis at Steward Health Care has brought these concerns to the forefront and prompted calls for reform. There is now a growing focus on the impact of private equity, for-profit ownership, and industry consolidation on the healthcare system not only in Massachusetts but across the country as well. The urgency to address these issues is paramount to ensure continued accessibility and affordability of healthcare services.

By Riley Johnson

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