The funding will go toward scholarship and loan repayment programs for healthcare students committing to work in hard-hit and high-risk communities, according to the White House.
The nonprofit system saw a major increase in spending on contracted medical services as well as a jump in supply costs.
Over the years, workers describe a dwindling partnership. Some believe it is this deterioration that led the organization to where it is today — recently on the brink of a major work stoppage following disputes over a new contract.
The St. Louis-based nonprofit reported operating income of $25 million for the quarter, a steep decline from the prior-year period.
The transaction, which will be financed through a mix of equity and debt, is expected to be completed in the first quarter of next year and is the latest in a recent string of large leveraged buyouts.
Recommendations from the new federal advisory committee will help inform policy changes to improve how charges and fees for ground ambulance services are disclosed to consumers, CMS said.
The ratings agency said staffing shortages, higher transportation costs and trouble sourcing some materials threaten healthcare revenue and operating margins in the near term.
The Rochester, Minnesota-based nonprofit reported robust financial results as revenue grew 10%, outpacing expense growth during a quarter in which rising costs challenged many systems due to heightened labor demands.
Along with outlining three new store formats — including sites for primary care delivery, a new area for the retail drugstore behemoth — CVS plans to close 900 stores over the next three years as consumer buying patterns change.
The decision comes as at least 10 states are opening up booster dose eligibility beyond the current, more limited authorizations while cases remain at high levels.