Wal-Mart to Enter Electronic Medical Records Arena
By Matthew Perrone, Associated Press
Washington (AP) - As the Obama administration begins investing billions in health information technology, Wal-Mart plans to use its unrivaled size to bring high-tech medical records to U.S. physicians. In recent years Wal-Mart, the world's largest retailer, has used its buying power to move into health care markets, negotiating steep discounts for prescription drugs and eye care products. With the government providing $17 billion of stimulus funding to encourage use of electronic medical records, the company sees an opportunity to serve as a low-cost, one-stop option for single doctors and small practices. A Wal-Mart spokesperson said Wednesday the company is partnering with computer giant Dell Inc. and software maker eClinicalWorks to launch a bundled electronic health records package for doctors, including installation and maintenance. The program will be offered through the company's Sam's Club discount-warehouse division, which caters to small businesses. A formal launch is expected this spring. "Because of our volume, our size and our relationships we can leverage what we do for our members every day into this service," said spokesperson Susan Koehler, in a telephone interview from the company's Bentonville, Ark., headquarters. Improving the nation's health information technology has been a rallying cry in Washington for years. Advocates say replacing paper files could reduce costly medical errors and duplicative testing. But after nearly a decade of promotion, there have been few gains to show for the technology. Less than 20 percent of the U.S. physicians use electronic medical records, and many complain about the upfront costs of going digital and the daunting technological hurdles for small businesses. Consulting group Avalere Health said this week it would cost about $124,000 for a single doctor to upgrade to electronic health records over five years. Wal-Mart believes it could shave somewhere between 30 and 50 percent off that figure, putting the price closer to $44,000, the maximum in incentive payments available to single-practice physicians. "We will streamline the process and be a single point of contact for them," Koehler said Under the plan, Dell will provide computers and other hardware while eClinicalWorks will provide and install the software. Wal-Mart's role will be to coordinate the process. The Obama stimulus package will pay out $17 billion in incentives beginning in fiscal 2011 to spur adoption of electronic medical records by doctors and hospitals. Those payments will gradually taper off through 2015 and then become penalties for those not using the technology. Investor's expectations for the plan have lifted shares of companies like Cerner Corp., the leader in hospital-installed electronic records, in recent months. Other companies poised to benefit include McKesson Eclipsys Corp. and Allscripts-Misys Healthcare Solutions Inc.
FD: This is not really new news. I found this piece from 2007
Wal-Mart Stores Inc. said on Tuesday it will expand its 2005 program of leasing space to local hospitals and other organizations to open 400 in-store, independent health clinics by 2010, with possibly 2,000 by 2015. The clinics will offer standard-priced, basic services like flu shots and cholesterol screening as they do in the 76 clinics currently operating in 12 states. CEO Lee Scott says the move will boost sales and draw customers into the stores, and also help solve America's healthcare crisis. While detractors color this an attempt to burnish Wal-Mart's image from low health coverage and low wage scandals, Wal-Mart counters that it is part of the "Better Health Care Together" coalition and says its $4 prescription program has saved customers $290 million on drugs since the program started last year. It now accounts for 35% of all Wal-Mart prescriptions, and 30% of those customers are uninsured. Target and Walgreens matched the prescription program, and CVS opened MinuteClinic's, continuing the general 'retailization-of-medicine' trend. Wal-Mart shares fell 0.5% to $48.69 yesterday.
FD: Free Market vs. National Healthcare
Looks like Wal-Mart plans to provide my basic medical healthcare needs at a price I can afford. However, I still want MY TAXES to cover my basic medical healthcare needs for everyone. YOU PAY TAXES, what do you want them spent on? DEBT service for Chinia?
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