Americans currently spend $3.6 trillion annually on health care and services.
More than 150 million Americans also shop weekly at Walmart. Walmart officials are attempting to grab a portion of the trillions spent on health care by using their ability to provide low-cost pricing to consumers along with true price transparency to lure some of those customers into Walmart’s transformational Health Care Centers.
“Whatever a patient needs, she knows the price upfront – a huge departure from how health care usually works and a way to avoid the surprise billing by providers that an sick even patients with health insurance with unexpectedly high out-of-network charges. The first thing you see at Walmart Health is the price list” said a health-care entrepreneur when describing how Walmart Health Care works.
Most prices are so low that patients with insurance often avoid filing claims, instead choosing to pay cash for the services received at Walmart Health. The health clinics, which are currently operating in Georgia, are staffed with doctors who are happy to avoid insurance paperwork and spend time instead, treating patients. In addition, Walmart Health Care Centers provide low-cost routine blood tests, x-rays and other diagnostic tests on-site along with a well-stocked and low-price pharmacy.
“Walmart sets those prices by estimating the cost of common services, including copays and deductibles, then coming in well under that, often half as much.” This is true price transparency and you can read more about Walmart’s innovative strategy HERE.