Giant companies like CVS, DaVita, Walmart, and Cigna are returning coronavirus stimulus cash. Here’s why they’re giving up millions.
Friday, 22 May 2020, 16:59:00
CVS Health, DaVita, Cigna, and Encompass are among the healthcare companies that are returning federal relief dollars intended to help healthcare providers weather the coronavirus pandemic. The funding automatically went to healthcare providers based on a formula that looked at how much they bill Medicare. Doctor’s offices, clinics, and hospitals were among the recipients of the stimulus, but so were larger companies that provide healthcare in addition to other services. The Trump administration said the funding came with “no strings attached. Later, it released guidance that suggested providers should consider returning the cash if they didn’t really need it. Visit Business Insider’s homepage for more stories . Healthcare companies are refunding millions of dollars of coronavirus bailout money from the Trump administration that was intended to help struggling hospitals and medical practices. Walmart , CVS Health , DaVita, Cigna, and Encompass are among the companies who are returning funding, company spokespeople confirmed to Business Insider.
— Business Insider
Why Intel and CVS stocks may lag over the next year
Thursday, 21 May 2020, 17:58:35
A majority of shareholders at CVS and Intel did not support CEO pay, which is a warning signal about stock performance .
— Fortune
CVS Health Expands Statewide COVID-19 Response By Opening 16 Additional New Drive-Thru Test Sites in Arizona
Thursday, 21 May 2020, 15:00:00
WOONSOCKET, R.I., May 21, 2020 /PRNewswire/ — In an ongoing effort to help slow the spread of the virus, CVS Health (NYSE: CVS) today expanded its COVID-19 testing program by announcing 16 additional test sites at select CVS Pharmacy drive-thru locations across Arizona. The opening of…
— PR Newswire
CVS to open 36 new drive-thru test sites in New York
Thursday, 21 May 2020, 12:00:58
CVS is opening 36 new drive-thru COVID-19 test sites in New York as part of a nationwide response to the coronavirus pandemic. New Yorkers can schedule an appointment beginning Friday to find their nearest testing site location in Nassau County, Suffolk County, Staten Island, or Inwood. Each site is expected to be able to perform…
— New York Post
CVS Returns $43M In Provider Relief Funds
Wednesday, 20 May 2020, 23:52:06
CVS Health has agreed to return $43.3 million in payments it received through the CARES Act’s Provider Relief Fund, Fox Business reported. In a letter to Health and Human Services (HHS) Secretary Alex Azar on Tuesday (May 19), CVS President and CEO Larry Merlo wrote that he hopes returning the funds will allow the agency […]
— PYMNTS
