Retail giant Walmart is a force to be reckoned with, not only because of its vast reach in the market, but also because of its commitment to innovation in consumer services.

Walmart’s recent healthcare companies are an example of innovation, as the company strives to become a fixture in the multi-billion dollar healthcare industry.

In 2019, Walmart unveiled its first health center, offering a variety of ‘services including primary care, laboratories, x-rays and EKGs, counseling, dental, optical, hearing, community health (nutritional services, fitness) and education and health insurance registration all in one location, conveniently located outside the store with a separate entrance for customers. The clinic will offer low and transparent prices for major health services to local families, regardless of their insurance status. “Since then, the company has continued to expand the service to several locations, with the goal of” partnering with multiple health providers in the field to be the first health center of its kind to provide primary and emergency care. , laboratories, X-rays and diagnostics, advice, dental, optical and hearing services, all in one facility.

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One of the most important aspects to consider with this initiative is Walmart’s significant market penetration with its stores. As of April 2021, the company had more than 5,000 stores in the United States alone and nearly 5,000 more globally. If Walmart is able to expand its healthcare offering to just 25% of its stores, it could dramatically change the face of primary care in hundreds of communities.

Additionally, if physical offerings weren’t enough, Walmart in May announced plans to acquire telehealth provider MeMD, underscoring the company’s bold commitment to enter the growing telemedicine market. According to the official statement, the initiative “will enable Walmart Health to provide access to virtual care across the country, including urgent, behavioral and primary care, in addition to our in-person Walmart health centers.”

As explained by Dr. Cheryl Pegus, executive vice president of health and wellness at Walmart, “Telehealth offers a great opportunity to expand access and reach consumers where they are and complements our traditional Walmart Health locations. Today, people expect omnichannel access to care, and adding telehealth to our Walmart healthcare strategies enables us to deliver in-person and digital care across our multiple assets and solutions. There is also recent speculation that the retail giant is considering expanding this service to even more states.

Indeed, given the potentially massive reach that telehealth can offer, this line of service from Walmart could one day reach millions of people.

Additionally, in addition to its healthcare service initiatives, the company strives to provide end-to-end patient care. For many years, doctors have referred patients to Walmart’s famous “$ 4 prescription list”, which gave patients the option of buying generic prescription drugs at an affordable price. Such programs are critically important at a time when drug prices and consumer health care costs continue to rise.

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Last month, Walmart took another revolutionary step in the pharmaceutical industry by announcing “the launch of the very first private label analog insulin, which will revolutionize access and affordability of diabetes care by providing customers with cost savings. significant prices without compromising on quality. “The rising prices of insulin therapy have been a long-standing topic in the mainstream media for years, and Walmart is trying to provide respite; as detailed on the company’s website:“ Available exclusively through the Walmart’s private label ReliOn, the new offering includes analog insulin vials ($ 72.88) and FlexPen ($ 85.88). These products will save customers between 58% and 75% off the cash price. branded analog insulin products, which translates into savings of up to $ 101 per branded vial or $ 251 per package of branded FlexPens.

Dr Cheryl Pegus explains, “We know that many people with diabetes struggle to manage the financial burden of this disease, and we are focused on helping by providing affordable solutions. We also know that this is a condition that disproportionately affects underserved populations. With ReliOn NovoLog insulin, we add a high-quality diabetes drug to the already affordable ReliOn product line and continue our commitment to improving access and lowering the cost of care.

Indeed, it can become a revolutionary initiative.

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There is no doubt that the healthcare system is ripe for innovation and disruption. Walmart’s access to many resources, its well-established reach in the market, its brand awareness and expertise in the retail industry will potentially make the company a formidable force in the healthcare industry for generations to come. to come.

The content of this article is not implied and should not be relied upon or substituted for professional medical advice, diagnosis or treatment by any means, and is not written or intended as such. This content is for informational and topical purposes only. Consult a qualified healthcare practitioner for medical advice.