Wal-Mart (WMT) moves deeper into medical clinics
Posted by: in Companies Competitive StrategyFiled under: Launches, Consumer experience, Competitive strategy, Wal-Mart (WMT)
Wal-Mart (NYSE: WMT) wants to be your physician — sort of. The company plans to open hundreds of new clinics in its stores. They will be co-branded with medical groups and hospitals and some will be staffed by nurse practitioners.
“We have learned that people are willing to receive their health care from the front of a store or the back of a drugstore,” Dr. John Agwunobi, a medical doctor who is a Wal-Mart senior vice president, told The New York TImes.
Several drug store chains have already gotten into the business, so Wal-Mart is not alone. Since many Wal-Mart customers do not have health insurance, the retailer may be able to take a massive piece of the market with low pricing.
Wal-Mart and its partners do need to be concerned with malpractice issues. One reason medical costs are so high is massive malpractice insurance rates. Some patients who sue physicians and hospitals do get big awards.
A massive company like Wal-Mart is a ready-made target for people unhappy with a poor treatment result.
Douglass McIntyre is an editor at 247wallst.com.
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