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Drug prices: Wal-Mart/Caterpillar plan may drive down employer health-care costs
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Program with Caterpillar aims to reduce employer health-care costs while increasing traffic to stores
Diapers. Barbies. Lettuce. Now medicine.
Wal-Mart Stores Inc., the world's largest retailer, is aiming its economic might at the health-care industry with a program that lowers prescription drug prices for employers. A pilot program with Caterpillar Inc. to streamline the way drugs are purchased has shown enough promise that Wal-Mart is in talks with several other firms to do the same, the companies said Friday.
"We hope we will drive down costs for the entire health-care industry," Michael Struhs, director of business development at Wal-Mart, said during a Webcast hosted by the Pharmacy Benefits Management Institute. "That is what we do. We operate efficiently and that allows us to lower costs, and those savings are passed on to our customers."
Wal-Mart Stores Inc., the world's largest retailer, is aiming its economic might at the health-care industry with a program that lowers prescription drug prices for employers. A pilot program with Caterpillar Inc. to streamline the way drugs are purchased has shown enough promise that Wal-Mart is in talks with several other firms to do the same, the companies said Friday.
"We hope we will drive down costs for the entire health-care industry," Michael Struhs, director of business development at Wal-Mart, said during a Webcast hosted by the Pharmacy Benefits Management Institute. "That is what we do. We operate efficiently and that allows us to lower costs, and those savings are passed on to our customers."
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