Steward Health Care, a for-profit health system in Eastern Massachusetts, is facing financial distress and may have to close some facilities. Regulators are working to prevent layoffs and the loss of care. Steward runs nine hospitals in Boston suburbs and underserved areas, but has had financial difficulties for the past three years. The health system blames low Medicaid payment rates and being paid less than academic medical centers for commercial insurance. It was also revealed that they haven’t been paying full rent and may consider selling hospitals. The crisis is fast-moving and has raised concern about the potential impact on patient care and employment.
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Steward Health Care’s financial issues may hurt health care access
