Walmart’s efforts to build a new kind of primary care service in rural communities — and to create a fresh line of revenue for itself — led to losses last year of $230 million, Endpoints News has learned. The company announced the surprise shutdown of the business in April, five years after launching it with great ambitions shared by many other retailers who have likewise attempted to enter the healthcare services industry. In its public announcement about the closure, Walmart blamed poor healthcare payments and rising operating costs for a lack of profits. But several senior and director-level current and former Walmart employees, speaking on condition of anonymity, said it had attracted only a small fraction of the number of patients that would have been needed to support the venture.
Read the full article: Walmart Shut down Its Healthcare Clinics after Losses Reached Nearly a Quarter of a Billion Dollars //
Source: https://endpts.com/walmart-shut-down-its-healthcare-clinics-after-losses-reached-nearly-a-quarter-of-a-billion-dollars/