Walmart is teaming with Transcarent to make it easier for self-funded employers to access its healthcare services.
This is the first time Walmart has made such an agreement to offer its prices on pharmaceuticals and other healthcare services to employers. The partnership aims to allow employers to leverage the retail giant's size and scale to offer more convenient care and cost-effective health and wellness options.
Walmart said employer health costs are continuing to grow while many workers are confused by long lists of options that they may not benefit from.
“We are committed to providing care to customers and the communities we serve through an integrated, omnichannel approach that improves engagement, health equity and outcomes,” said Cheryl Pegus, M.D., executive vice president of Health & Wellness at Walmart, in a statement.
RELATED: Walmart deploys Epic medical records tech across its health centers, virtual care services
“Most of America lives within 10 miles of a Walmart, which makes us uniquely positioned to deliver the right care at the right time in the right way," Pegus said. "We are proud to bring our size and scale to make it simple to live healthier and leverage our collaboration with Transcarent to reach even more people where they live and work.”
Transcarent members can access Walmart's prescription benefits as well as care at the company's community clinics, optical services and telehealth, according to the announcement. The retailer also offers over-the-counter medications and vaccines, including for COVID-19.
In addition, it recently launched a low-cost insulin, called ReliOn NovoLog, in pens and vials, which can also help address costs, Walmart said.
“Together, Walmart and Transcarent have the scale and innovation required to transform the way health and care are delivered and paid for across the nation, regardless of a person’s economic or geographic situation,” said Glen Tullman, CEO of Transcarent, in a statement. “Transcarent is putting employers and employees back in charge of their health and care. Employees can trust that Transcarent will focus on value and quality first, provide clear and unbiased information, offer a full range of choices and share the rewards with employees that their better health decisions generate.”
Walmart has also pushed into the insurance market by launching a Medicare brokerage and forming co-branded Medicare Advantage plans in partnership with Clover Health.