Recently, Walmart has decided to enter the $3.6 trillion healthcare industry by creating their own iterations of the popular “minute clinics” inside their stores. Walmart Heath will feature an array of healthcare services.
Shoppers can now get a checkup for $30, a teeth cleaning for $25, and x-rays/lab tests (all services available on the weekends, which is huge). Most interestingly though, is their take on counseling and mental health. You will be able to speak to a licensed counselor for only $1 per minute, which is substantially less than what it would cost even with top-tier insurance.
Walmart currently fills over 400 million prescriptions annually (most of which are generics) and that number is only expected to continue growing. According to Walmart’s President for US Health and Wellness estimates that this model of care can reduce costs up to 40%.
Is this a good thing for the healthcare/pharmaceutical industry, or is another example of the rich getting richer?