Walmart isn’t making sufficient cash off its new well being facilities, so it determined to shut up store. The retail large introduced in the present day that it’ll shutter all 51 well being facilities it opened up throughout 5 states since 2019. Walmart can be eliminating its digital care program after buying telehealth supplier MeMD in 2021.
“We decided there’s not a sustainable enterprise mannequin for us to proceed,” Walmart mentioned in an announcement in the present day.
“We decided there’s not a sustainable enterprise mannequin for us to proceed.”
Retail giants like Walmart, BestBuy, and Amazon have every tried to take their very own share of Individuals’ $3.6 trillion in well being spending annually. However whereas retailer heavyweights thought they might flip a revenue by making healthcare extra handy and inexpensive, the truth has been far more difficult.
“It is a troublesome determination, and like others, the difficult reimbursement setting and escalating working prices create an absence of profitability that make the care enterprise unsustainable for us at the moment,” Walmart mentioned in the present day. It’s an about-face from final 12 months when Walmart mentioned it deliberate to double its variety of well being clinics and develop into two new states in 2024.
Walmart didn’t share particular dates for when every Walmart Well being Middle would shut its doorways however mentioned that it might maintain serving present sufferers whereas they keep open. The corporate’s 4,600 pharmacies and roughly 3,000 Imaginative and prescient Facilities received’t be affected.
