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SEPTEMBER 7 (Reuters) – Walmart (WMT.N) and health insurer UnitedHealth Group (UNH.N) will offer preventative care to people over the age of 65 and launch virtual healthcare services for all ages We plan to partner to provide said Wednesday.

The 10-year partnership represents Walmart’s latest commitment to healthcare, helping the retail giant to better compete with CVS Health (CVS.N) and Walgreens Boots Alliance (WBA.O). It might help.

Last October, Walgreens invested $5.2 billion in VillageMD, a primary care provider with more than 200 locations in 15 markets.

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Walmart’s work with UnitedHealth targets ailments that are common among older Americans, such as heart disease and diabetes.

When it launches in January, it will initially offer senior healthcare at 15 Walmart Health locations in Georgia and Florida. The focus will be on value-based healthcare, a model that reimburses for care provided by hospitals and clinics through multiple Medicare Advantage plans.

Medicare Advantage is a Medicare-approved plan by a private company that replaces Original Medicare, the federal health insurance plan for older adults.

This collaboration will initially exclude coverage for original Medicare members.

Unlike the traditional per-service pricing model, where health insurance companies pay doctors for each service provided, value-based healthcare payments are tied to patient outcomes and health. This model typically offers preventative measures such as dietary guides, cancer screenings, and frequent doctor visits.

Dan Schumacher, Chief Strategy and Growth Officer, UnitedHealth Group, said:

Dr. Cheryl Pegas, executive vice president of health and wellness at Walmart, said:

Walmart is already providing doctors, community health workers, behavioral health therapists and nurses to serve seniors who are “already looking to buy other products” at Walmart medical facilities, it said. she said.

Walmart healthcare workers can use Optum, a healthcare services company owned by UnitedHealth Group. Optum provides providers with patient data analytics. The collaboration also includes the planned launch of Walmart and UnitedHealth Group co-branded Medicare Advantage Plans in Georgia.

Walmart and UnitedHealth Group partnered in January to offer free, at-home COVID-19 testing.

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(Reporting by Arriana McLymore, New York; Editing by Leslie Adler)

Our standards: Thomson Reuters Trust Principles.

Ariana McLemore

thomson Reuters

Arriana McLymore reports on the business of law, including professional diversity, corporate practices, legal education, and the career life cycle of lawyers.

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