BOSTON — The Joint Committee on Health Care Financing will hold an oversight hearing on the effects of private equity ownership and investment in health care on Monday.
Lawmakers called for the hearing after news broke that Steward Health Care, a for-profit company that owns nine hospitals in Massachusetts, is grappling with a financial crisis and considering pulling out of the state.
The health system’s financial woes have created the potential for hundreds of thousands of Bay Staters to face disruption in accessing care and required state government to plan for various contingencies.
Senate President Spilka, House Speaker Mariano, and Joint Committee on Health Care Financing Chairs Sen. Friedman and Rep. Lawn said earlier this month that the hearing would “examine the relationship between health care regulators and private equity, and will solicit information and recommendations to help ensure that what is happening with Steward Health Care doesn’t happen again in the future.”
About a dozen experts have been invited to testify, including David Seltz of the Health Policy Commission, Mary Beckman of the Executive Office of Health and Human Services, Zirui Song, director of research at the Harvard Medical School for Primary Care, representatives from the National Conference of State Legislatures, and others.
This is a developing story. Check back for updates as more information becomes available.
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