Massachusetts governor: Steward financial statement 'incomplete and insufficient'

Massachusetts Gov. Maura Healey is less than impressed with Dallas-based Steward Health Care's recently shared financial information after probing the health system for its records in a recent letter due to ongoing financial troubles.

"The financial information that Steward provided this week continues to be incomplete and insufficient," Karissa Hand, a spokesperson for Ms. Healey, said in a statement shared with Becker's. "What Steward must do from this point forward is clear — complete an orderly transition out of Massachusetts."

Steward on Feb. 23 shared a "six-point action plan" to address its financial struggles and get the health system back on track. It includes a $150 million financial agreement with its current lenders and new labor agreements for its employees.

"First and foremost, we want to continue to do the right thing for patients, our staff and our communities," Michael Callum, MD, executive vice president for physician services and interim president of the northeast region for Steward, said in a Feb. 23 news release. "That is our commitment going forward. In the future, that will take a different form, but the mission remains the same."

Steward's release said the health system has "worked to comply with every request of the Massachusetts Attorney General's Office and the executive office of health and human services" since November. The state disagrees, however.

"Steward admitted last week that they do not have the audited financial statements we have requested," Ms. Hand said in the statement. We are reviewing the information that was provided this week. The administration continues to urge Steward to provide more financial transparency, ensure safe staffing and supply levels, and allow for increased monitoring."

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