Massachusetts Healthcare Provider Sold to Optum Care Amid Financial Struggles, Raising Concerns over Patient Care and Reforms

Optum Care acquires physician group from struggling Steward Health Care

In Massachusetts, Steward Health Care recently sold its physician group to Optum Care, according to reports from Sen. Edward J. Markey D-Mass. The company, which operates nine healthcare facilities in the state, is currently facing financial instability due to accumulated debt. Previously owned by Cerberus Capital Management, a private equity company that made significant profits from Steward, the sale marks a new chapter for the struggling healthcare provider.

Sen. Markey expressed concern over Steward’s financial insecurity 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. The senator suggested that Optum Care must demonstrate their commitment to controlling costs and prioritizing patient care as they take on ownership of Steward’s physician group.

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, he has called for Steward CEO Dr. Ralph de la Torre to testify at a congressional hearing in Boston on April 3rd.

The sale of Steward’s physician group to Optum Care raises questions about how this will impact patients in Massachusetts who rely on these physicians for care. It also highlights the growing issue of financial instability in healthcare providers across the country as they struggle to keep up with rising costs and declining reimbursement rates.

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