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September 12, 2022:- According to a Reuters article by Arriana McLymore, Walmart (WMT.N) and healthcare giant UnitedHealth Group (UNH.N) are planning to furnish preventive care for people aged 65 and up and virtual healthcare services for all age classes, the companies stated on Wednesday.
The 10-year partnership symbolizes Walmart’s latest push into healthcare and could assist the retail giant in competing with CVS Health (CVS.N) and Walgreens Boots Alliance (WBA.O).
Walmart’s clinics could encourage new customers from UnitedHealth’s Medicare Advantage members. At the same time, UnitedHealth gains admission to the largest U.S. retailer’s footprint and a venue to register more people, Evercore ISI analysts Mike Newshel and Elizabeth Anderson stated in a research note.
Walgreens last October ingrained $5.2 billion in primary-care provider VillageMD, which has additionally 200 locations across 15 markets.
Walmart’s measure with UnitedHealth will target common diseases such as heart disease and diabetes among aging Americans.
The partnership is expected to initially offer seniors healthcare at 15 Walmart Health areas in Georgia and Florida when it gets underway in January. The emphasis will be on value-based healthcare, a pinnacle in which hospitals and doctors’ offices are reimbursed for the care they deliver through multiple Medicare Advantage plans.
Medicare Advantage schemes are run by private insurers and are a choice to original Medicare, the federal government’s health insurance plan for seniors.
The partnership will initially exclude coverage for members under the initial Medicare.
Unlike traditional fee-for-service standards, in which health insurers pay doctors a fee for each service delivered, value-based healthcare payments are linked to measures of a patient’s health. The model possesses dietary guides, cancer screenings, and frequent doctor visits.
“We wish that through this partnership, we would grow to serve hundreds of thousands of seniors,” Dan Schumacher, UnitedHealth Group chief strategy and growth officer, expressed.
“Our objective is to make (healthcare) accessible and keep it affordable using these solutions, especially in these medically underserved communities,” Dr. Cheryl Pegus, executive vice president of Health and Wellness at Walmart, communicated.
She said that Walmart already delivers:
Walmart’s healthcare personnel will be able to utilize Optum, a health services company held by UnitedHealth Group, which offers providers data analytics on patients. The collaboration also includes the anticipated launch of a Walmart and UnitedHealth Group co-branded Medicare Advantage plan in Georgia. Walmart and UnitedHealth Group had partnered in January to supply accessible, at-home COVID-19 tests.
