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Daily Briefing

Around the nation: CVS reduces prices for menstrual products in its stores


CVS will reduce the prices of menstrual products in its stores by 25%, absorbing the sales tax on the products in several states, in today's bite-sized hospital and health industry news from New York, Rhode Island, and Tennessee.

  • New York: NewYork-Presbyterian and Columbia University Irving Medical Center on Friday agreed to pay just over $165 million to 147 patients who reported sexual abuse or misconduct from former gynecologist Robert Hadden. Previously, Hadden had worked at both organizations until 2012 and surrendered his medical license in 2016 after pleading guilty to state sex-crime charges. This new agreement adds to a $71.5 million settlement for an initial group of 79 patients that was reached last December. In total, the two health care organizations will have to pay roughly $237 million to Hadden's former patients. "We deeply regret the pain that Robert Hadden's patients suffered and hope that these resolutions will provide some measure of support for the women he hurt," Columbia University Irving Medical Center said in a statement. "All those who came forward should be commended." Currently, Hadden is awaiting trial in federal court for eight criminal counts of transporting women across state lines for sexual abuse. (Kaufman, Crain's New York Business/Modern Healthcare, 10/7)
  • Rhode Island: CVS on Tuesday announced that it will reduce the cost of its store brand tampons, menstrual pads, liners, and cups by 25% at its core pharmacy locations—absorbing the so-called "tampon tax" or sales tax added to these products. According to CVS, the price reductions will be effective on or before Oct. 13. Currently, 22 U.S. states tax menstrual products, and CVS said it is now paying applicable sales tax on these products on the behalf of customers in 12 states, including Arkansas, Georgia, Hawaii, and Texas. In addition, CVS said it evaluated "thousands of products" to ensure both "women's" and "men's" products like razors and shaving cream have equal prices. Overall, these changes are part of the CVS' "HERe, Healthier Happens Together" initiative, which also aims to expand women's health services in the company's Minute Clinics. (Falcon, Nexstar Media Wire/The Hill, 10/11)
  • Tennessee: HCA Healthcare has donated $1.5 million to Fisk University to support scholarships for students pursuing degrees in nursing at the school's Galen College of Nursing. According to a news release, the gift is part of HCA's goal of donating $10 million over the next three years to historically Black colleges and universities, as well as Hispanic serving organizations. "We are proud to partner with Fisk University as we work to build a diverse pipeline of healthcare professionals," said HCA Healthcare CEO Sam Hazen. "It is our hope that this latest investment provides more students with the opportunity to find fulfilling careers in nursing." Frank Sims, acting president of Fisk University, said the nursing scholarships from HCA are part of a long-term partnership aimed at helping students pursuing careers in health care. "HCA Healthcare remains Fisk's largest Nashville partner, and many students are eager to begin their professional lives right here in Nashville," Sims said. (Tucker, Becker's Hospital CFO Report, 10/11)

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