• Thu. Jun 13th, 2024

Steward Health Care’s Financial Crisis: Selling Physician Network to Optum Care Boosts Finances Amid Payment Issues

BySamantha Johnson

Mar 27, 2024
UnitedHealth acquires doctor network from Steward Health Care

Steward Health Care, a troubled hospital operator in Massachusetts, is facing a financial crisis that has affected its eight hospitals. To stabilize its finances, the company has made the decision to sell its nationwide physician network to UnitedHealth’s Optum Care unit. This move is part of Steward’s overall plan to strengthen its national system of 33 hospitals, especially after falling behind in payments to various parties last year.

The doctors group known as Stewardship Health, is the entity being proposed for sale. On Tuesday, a subsidiary of Optum called Collaborative Care Holdings, LLC officially filed notice with the state’s Health Policy Commission regarding the sale. While the documents filed did not include a specific price tag for the sale, Optum officials did not provide immediate comment on the matter. This potential acquisition of the physician network by Optum Care could potentially provide a financial boost for Steward Health Care as it navigates its ongoing financial challenges.

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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