• Mon. Jun 17th, 2024

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

BySamantha Johnson

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

Recently, Steward Health Care in Massachusetts reached a deal to sell its physician group to Optum Care, as reported by Sen. Edward J. Markey D-Mass. According to Markey, Steward Health Care is facing financial insecurity due to accumulated debt. The company was previously owned by Cerberus Capital Management, a private equity company that made significant profits from Steward.

Sen. Markey expressed concern over Steward’s financial instability and urged for a transition away from their practices. He emphasized the importance of maintaining healthcare access and ensuring patients and providers are the top priority. Markey suggested that Optum Care must demonstrate their commitment to controlling costs and prioritizing patient care.

Markey highlighted the need for healthcare reforms that prioritize patient outcomes over profit motives. As the chair of the Senate Health, Education, Labor, and Pensions Subcommittee on Primary Health and Retirement Security, Markey has called for Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3rd.

Optum Care has been criticized for being part of larger insurance corporations that have faced criticism for high premiums and limited coverage options for consumers. In response to these concerns, Optum Care has stated their commitment to improving healthcare outcomes while keeping costs under control. They have also emphasized their focus on patient care as they take over the physician group from Steward Health Care.

The deal between Steward Health Care and Optum Care is still subject to regulatory approval before it can be finalized. If approved, this acquisition could have significant implications for healthcare in Massachusetts, particularly in terms of cost control measures.

For more information about this topic or any other questions related to it, readers can contact SMorse@himss.org

By Samantha Johnson

As a dedicated content writer at newsanguinely.com, I weave words into compelling stories that captivate and inform our readers. With a passion for storytelling and a keen eye for detail, I craft engaging articles that shed light on the latest news and trends. When I'm not typing away at my keyboard, you can find me exploring new ideas, researching diverse topics, and striving to deliver content that resonates with our audience. Join me on this journey as we uncover the stories that matter most.

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