Walmart Inc. (NYSE:WMT)
Walmart Inc. (NYSE:WMT) and UnitedHealth Group (NYSE:UNH) announced on Wednesday that they will be working together on a value-based care initiative for senior citizens and Medicare beneficiaries over the next ten years through Medicare Advantage plans.
People 65 and older, some younger individuals with impairments, and patients with kidney disease that has progressed to end-stage are eligible for Medicare Advantage, an alternative to the government health insurance program known as Medicare.
The relationship, which is scheduled to begin in 2023 at 15 different Walmart Inc. (NYSE:WMT) Health stores in the states of Florida and Georgia, will extend to include locations in more regions.
According to the firms, the agreement “will assist speed the shift to value-based care by empowering physicians to focus on patient outcomes.” The analytics and decision support capabilities of UNH’s Optum unit will be leveraged as part of the collaboration.
In the value-based healthcare model, medical facilities like hospitals and doctor’s offices are eligible to receive payment for the treatment they provide to patients under a variety of Medicare Advantage plans.
As part of the cooperation, a co-branded Medicare Advantage plan will be made available to residents of Georgia beginning in January 2023.
In the same month, Walmart Health Virtual Care will join the network of in-network providers available to commercial clients enrolled in the Choice Plus PPO plan offered by UnitedHealthcare (UNH).
The cooperation between Walmart Inc. (NYSE:WMT) and UNH was announced just a few days after a competitor drugstore operator, CVS Health (CVS), revealed that they had reached an agreement to buy home healthcare firm Signify Health (SGFY) in a transaction valued at around $8 billion.
Featured Image- Megapixl @Selagin