It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: Pandora on September 11, 2012, 04:45:53 PM
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Giant discounter Wal-Mart says it will soon offer vaccinations for a wide variety of ailments. (http://news.investors.com/ibd-editorials/082412-623534-walmart-effect-comes-to-health-care.htm)
Can the "Wal-Mart Effect," which has helped slash U.S. inflation, do the same thing for soaring health care costs?
...A few years back, the highly respected National Bureau of Economic Research even estimated that the government's consumer inflation data were overstated by about 15%, due largely to the unrecognized impact of Wal-Mart's everyday low prices on the economy.
A separate 2007 study by the investment advisory and forecasting firm Global Insight estimated that in 2006, Wal-Mart's low prices saved consumers roughly $287 billion — or about $2,501 per household. The impact — especially on low-income consumers — has been enormous.
John Tierney, a New York Times columnist, even suggested that Wal-Mart receive a Nobel prize for helping to pull so many people out of poverty.
Well, the retail giant may be at it again —this time in health care. As reported last week, it's expanding customer offerings into vaccines.
... The Benton, Ark.-based company has been moving into health care since 2006, when it started selling generic drugs at a flat $4 fee. Now, in addition to the low-cost vaccines for influenza and pneumonia it offers at 2,700 stores, it's expanding into 10 other common vaccines, including shingles, meningitis, hepatitis and the human papillomavirus. This will give millions of Wal-Mart customers who never see a doctor the chance to get cheap preventive care.
Quietly, Wal-Mart's changing the face of health care. Last year, it played down the leak of a 14-page internal document that outlined its plans to "build a national, integrated, low-cost primary health care platform."
But the fact is, Wal-Mart is rapidly expanding its presence as a primary health care provider, and it's not alone. Other retailers are getting into the act, opening clinics and providing health services at low cost.
Is it having any impact? Retail prescription drug outlays rose just 1.2% in 2010, down from increases of 14% a year just a few years ago. And as the chart shows, health care spending increases have slowed sharply in recent years — partly due to Wal-Mart.
Once again, markets respond to problems — while government creates more. If we're lucky, Wal-Mart and other retailers may even help sink that other failed health care model, ObamaCare.
Ewwww! "It's WALMART!!!"
I can hear the Lefties screaming from here.
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I go to Walmart, but I don't find the prices that cheap. The few times I do go there is for convenience, numerous items at one stop.
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For most items that I usually would buy Wal-Mart prices are only $.02 - at most $1.02 less than any other store. That just doesn't justify the additional $5.00 in gas to get to them usually.
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In the big city one may be able to shop around and beat
their price; away from the big city their prices are most
competitive and the number of otherwise unavailable
products is large.
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I prefer to shop in stores where the products are packaged in boxes written in ENGLISH.
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I prefer to shop in stores where the products are packaged in boxes written in ENGLISH.
Wow, you must pay a premium for that! ;D
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I prefer to shop in stores where the products are packaged in boxes written in ENGLISH.
Wow, you must pay a premium for that! ;D
If you turn the box around, one of the sides, other than French and German will be printed in English.
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Wow, you must pay a premium for that! ;D
Yes, I do, it's called shopping at a different store.
If you turn the box around, one of the sides, other than French and German will be printed in English.
At our store the spanish side is always facing out. Heck if I'm going to turn it to the english side.