In response to its significant debt, privately-owned Steward Health Care has announced that it will be selling all 31 of its hospitals in the U.S., including nine in Massachusetts. The company plans to auction off the hospitals to help pay down its $9 billion debt. Despite this, Steward hopes to keep all hospitals open long-term and avoid any interruptions in day-to-day operations.
Based in Dallas, Steward operates hospitals in eight states and has been the subject of a CBS News investigation that revealed unpaid bills and a risk of shortages in potentially lifesaving supplies. Massachusetts Governor Maura Healey has launched a hotline and website for patients with questions about the situation and has criticized Steward’s leadership in Dallas for greed, mismanagement, and lack of transparency that led to the bankruptcy filing. She emphasized the importance of preventing similar situations in the future.
Governor Healey’s hotline and website have been instrumental in providing support to patients during this difficult time. Auctions for hospitals outside of Florida will be held on June 28, while the nine Florida hospitals will be auctioned off on July 30. It remains to be seen what the future holds for these healthcare facilities, but one thing is certain: accountability and transparency are essential components of successful healthcare management.
