Gov. Maura Healey’s office says debt-ridden Steward Healthcare has provided some, but not all, of the financial documents the state requested.
The Boston Globe reported that the company missed the Democratic governor’s Friday deadline to turn over key financial data that Healey’s office requested in a scathing letter sent to the Texas-based company on Tuesday. It is said that he did not comply with the law.
Steward, which operates nine facilities in the state, submitted audited financial statements for several years through 2021, but did not submit the same records in 2022, the newspaper reported. The administration said the document is key to assessing the health system’s financial health.
“The financial information provided by Stewards this week remains incomplete and insufficient,” Healy spokeswoman Carissa Hand told the paper. Mr. Hand did not say what steps Mr. Healy would take next to deal with the company.
“It’s clear what Stewards must do from this point forward: complete an orderly transition from Massachusetts,” Hand said.
MassLive previously reported that if the government doesn’t comply, the government will freeze hospital admissions, close beds and move patients to other hospitals. He warned that there was a possibility that he would be transferred to
The professional association representing Massachusetts physicians said Thursday that the potential collapse of any of Steward’s hospitals would disproportionately impact Black and brown people in the Bay State who rely on health care services. MassLive previously reported that there was a warning that this was a possibility.
Because of such risks, Dr. Barbara Spivak, president of the Massachusetts Medical Association, said the professional association:[appreciated] The administration is thoughtfully focused on local solutions in planning for continuity of care for patients. ”
- read more: Massachusetts documents raise concerns about Steward Healthcare’s finances as state heats up
“This will require coordination by local, regional, and statewide stakeholders and, among other things, establish a process for the expedited transfer of medical records and those who choose or are forced to redeploy to other facilities. We need to streamline the credentialing process for physicians and other health care providers who may be eligible for medical treatment,” Spivak said.
Spivak also signed a letter seeking information amid “growing concerns” from Cerberus Capital Management, the private equity firm that owned Steward Healthcare hospitals from 2010 to 2021. The group also expressed its gratitude to 11 members of the state Capitol delegation. About the hospital system’s increasingly precarious financial woes.
“This push has rightly shined a much-needed light on the need for transparency in private equity-backed health care systems that disclose all operational information that impacts patient care. “The commonwealth needs to require this information through law and regulation to ensure we are prioritizing patients over profit,” Spivak wrote.
Rep. Ayanna Pressley, who signed the letter, appeared on WBUR’s “Radio Boston” show Friday and said the destabilizing health care system’s finances represent “a public health crisis for communities across the commonwealth.” He said there was.
“This is a terrible example of how private equity ownership can harm our health care system and put people’s lives at risk,” said Pressley, a Democrat in the 7th District.
