Hours after financially troubled Steward Health Care went tumbling into an expected, but no less damaging, bankruptcy, Massachusetts lawmakers on Capitol Hill had their say on news that roiled the Bay State’s health care landscape.
U.S. Sen. Elizabeth Warren, D-Mass., called Steward’s bankruptcy filing in the early hours of Monday morning the “direct consequence of Wall Street private equity vultures looting our health care system.” “My first priority is keeping these Massachusetts hospitals open, protecting patients, and supporting frontline health care workers,” Warren said in a statement.
“The next step should be a serious reexamination of whether we should allow private equity in health care.
Last week, the state activated an “emergency operations plan” to ensure patients had continued access to the hospital system, MassLive previously reported.
Maura Healey and other senior state officials stressed that Steward’s hospitals in Massachusetts will remain open as the bankruptcy case wends its way through the courts.
“This bankruptcy is something our administration has been preparing for.
Steward Hospitals remain open.
You should continue to seek care when you need it at these facilities,” the Democratic governor said during a hastily convened press conference at the State House.
Legislators from Massachusetts on Capitol Hill weighed in on the news that rocked the Bay State’s health care scene just hours after financially struggling Steward Health Care precipitously filed for bankruptcy.
You. s. Sen. Elizabeth Warren, Democrat of Massachusetts. stated that Steward’s early Monday morning bankruptcy filing was a “direct consequence of Wall Street private equity vultures looting our health care system.”. “.
Warren stated in a statement, “My top priorities are preserving these Massachusetts hospitals, safeguarding patients, and assisting frontline healthcare providers.”. “The next move ought to be a thorough reconsideration of whether or not private equity should be permitted in the healthcare industry. In order to hold corporate actors accountable when they plunder our hospitals to increase their profits, I will be introducing new legislation in the Senate. Steward is just the most recent example of how private equity is putting communities in danger. “.
Since more details about Steward’s precarious financial situation—which includes tens of millions of dollars in debt—came to light, state and federal officials in Massachusetts have been closely monitoring the company, which operates eight facilities mostly in eastern Massachusetts, MassLive reported.
As previously reported by MassLive, the state last week activated a “emergency operations plan” to guarantee that patients could continue to access the hospital system.
In a declaration, U. S. Sen. Ed Markey, the Massachusetts Democrat. condemned Dr. Ralph de la Torre, the CEO of Steward, calling him a “private equity ally who put the Massachusetts health care system at risk” for making hasty decisions that prioritized investor profit over people’s lives and livelihoods, forcing the company into bankruptcy.
On Monday morning, Gov. Senior state officials, including Maura Healey, emphasized that Steward’s hospitals in Massachusetts will continue to operate while the bankruptcy case makes its way through the legal system.
“Our administration has been preparing for this bankruptcy.”. Remaining open are Steward Hospitals. It is important for patients to honor their appointments. The Democratic governor stated at a hurriedly called press conference at the State House, “You should continue to seek care when you need it at these facilities.”.
Healey declared that Steward’s Chapter 11 bankruptcy filing was the first move toward “our goal of getting Steward out of Massachusetts,” flanked by labor leaders, advocates, and senior aides. “.
With a scathing statement, U. S. Rep. The company “failed the tens of thousands of patients and workers it serves in Massachusetts and across the country, and Steward filing for bankruptcy today is another damning indictment of our for-profit health care system in America,” according to Ayanna Pressley, a representative whose district includes Steward facilities. “.
The application depicts a “public health crisis for our communities—particularly for the vulnerable patients who receive care at St. Pressley went on, saying she was appreciative of Healey and her lieutenants “for prioritizing an orderly transfer of ownership that protects our patients and providers—and we must do everything we can to keep Steward hospitals open and care accessible. Elizabeth’s in Dorchester.”. “.
