The discount retailer already has made major inroads into accessible, affordable care through lower drug prices, walk-in clinics and electronic record-keeping. Why stop there?
I know who can fix our broken health care system -- and who can't:
* Not presumptive Republican nominee John McCain. He proposes a tax credit of $5,000 per family to encourage us to buy private health insurance.
* Not Democratic presidential candidate Hillary Clinton. She proposes universal health insurance supported by tax credits.
* Not Democratic presidential candidate Barack Obama. He proposes a mix of public and private health insurance with government subsidies to those who don't qualify for government insurance plans such as Medicaid.
I say, let Wal-Mart Stores (WMT, news, msgs) do it. Hold your guffaws. Stifle your impulse to scoff. Control those sputters of rage.
...
Government programs, rising costsThe goal, everyone agrees, is to maximize coverage, heighten competition and cut costs. Good goals, all. About 47 million Americans now lack health insurance. Health care costs are rising far faster than general inflation. And health care is on track to consume 25% of U.S. gross domestic product by 2025. That would be up from 16% today and 5% in 1960. (For more on the health care squeeze and the candidates' proposed fixes, see our multimedia package "
The Middle Class Crunch.")
...
Industry 'consultation' narrows competitionBut it hasn't worked out that way. A recent survey by the federal government of the private Medicare Advantage plans found they charge the government 17% more, on average, than it would cost Medicare to provide the same services. From 2009 to 2012, the government projects, the extra costs to the federal government will amount to $50 billion.
...
Letting Wal-Mart run the health care system would fix many of those problems. It's a company that understands how low prices can build market share and thus increase profits. Furthermore, it's a company with a culture of cutting costs that has shown no compunction in pushing suppliers to the wall over price. The Wal-Mart motto ought to be, "Make it cheaper, or we'll find someone who can." I'd love to see that attitude brought to bear in health care.
Moneycentral