In response to Shane Mason's comments on my post on the Wal-Mart prescription drug program I feel it important to respond to them in this post.
Andy, you should pick your heroes more carefully. Want a good example of the free market, look at Cosco. At least research a bit before puking out a press release verbatim. Here are some factoids for you.
I have done a lot of research on Wal-Mart. Interestingly, one of the most informative documents I have found is called "Wal-Mart: A Progressive Success Story" written by Jason Furman who was an economic advisor to the Kerry Campaign. I don't always rely on conservative information.
I think Costco is an outstanding company that provides great pay, benefits, and opportunities. Their business model is very successful.
1. There are NOT 331 drugs, there are 123 drugs at verying dosages.
It's actually 143 different drugs in 331 different versions and dosages. I don't see this as being a big deal as this information is easily available on Wal-Mart's web site.
2. American Taxpayers spend over 9 BILLION each year on healthcare costs for Walmart employees as they choose to have over 775,000 employees without healthcare. Now, if they were the shining example of the free market that you want them to be, wouldn't they be offering health care to their employees. If that isn't how it is supposed to work, then how?
According to Furman's paper, Wal-Mart offers health insurance to both full and part-time employees where only 60% of firms economy wide offer health benefits and only 17% offer health benefits to part-time workers.
Wal-Mart also pays 70 % of the cost of benefits which is similar to the retail industry. More Wal-Mart employees are eligible for health insurance than in the retail sector as a whole and even slightly more than the nationwide total. Even though the company pays 70% of the cost only 48% of their employees have health insurance. This is compared to 46% in the retail industry.
Wal-Mart has 548,000 employees on the insurance which covers 948,000 people. 34% of Wal-Mart employees are offered health insurance but choose not to enroll, because they are already covered by a family member, choose to be on Medicaid rather then pay their portion of the premium, or choose not to have health insurance.
Finally, they have comparable deductibles to other PPO plans and are one of few companies that have no lifetime maximum for coverage.
3. You get one more for free, after that I am going to make you do your own research.
Wal-Mart’s List Includes Only 1 Percent of Generics on the Market, Less than 10 percent of Commonly Stocked Generics. The New York Times reported that more than 11,000 generic drugs are currently on the market, and other large pharmacies routinely carry more than 3,000 generics on their shelves. The number of drugs in the Wal-Mart program, which the company misleadingly represents as, “as 143 compounds,” represents only a tiny percentage of these numbers. [New York Times, 9/22/06; Generic Line, 10/4/06; Wal-Mart release, 10/19/06; News Observer (NC), 9/23/06]
Throwing out these huge numbers of generic drugs that are on the market means very little. Most are not commonly prescribed or dispensed. What is important and far more meaningful is that the $4 program is on a full 25% of the generics that Wal-Mart dispenses.
Relying on "research" from a anti-Wal-Mart group such as Wake Up WalMart is unreliable and biased.
Showing posts with label Wal-Mart. Show all posts
Showing posts with label Wal-Mart. Show all posts
Friday, December 01, 2006
Wednesday, November 29, 2006
Wal-Mart Introduces $4 Prescription Drugs to Montana
Due to the huge success of Wal-Mart's $4 prescription drug program that was launched in September in Tampa, they are extending the program to 49 states (North Dakota Wal-Mart's lease their pharmacies and are not included).
Missoula's two Wal-Mart pharmacies and 10 others statewide will join with stores in every state except North Dakota to offer the cut-rate price for up to a month's supply of 331 generic drugs.
That's roughly one-fourth of the prescriptions Wal-Mart dispenses nationwide.
Fifty of the drugs on the list will sell for $9 in Montana and a handful of other states, because of state laws, according to David Tovar, national spokesman for Wal-Mart. (Missoula pharmacists at Wal-Mart were directed to forward all media questions to its national office.)
Among the more popular $4 drugs on Wal-Mart's list are amoxicillin, an antibiotic, and the cardiac drugs lisinopril (brand name Prinovil) and atenolol (Tenormin).
“We had such a great response from our customers, our pharmacists and elected officials all over the country saying we'd love you to do this in our state, we decided to speed up the roll-out by a few months,” Tovar said.
Bill Simon, executive vice president of Wal-Mart's Professional Services Division, said in a written statement that the company has received “hundreds of letters and e-mails from customers over the last few months telling us how this program has changed their lives.”
Wal-Mart is going to save a lot of money for people who need it most.
In a media release, Wal-Mart estimated customers in the first 38 states to participate in the program will save $1.3 million each month on the diabetes medication metformin (brand name Glucophage), and $750,000 a month on warfarin (Coumadin).
CEO Lee Scott says it best...
Lee Scott, president and CEO of Wal-Mart, said in a written statement the program is “bringing more affordable medicines to our nation's seniors, working families and the uninsured.”
“We are proud to have introduced competition to an area where it has been too scarce for too long,” Scott said. “We hope others will continue to join us in making prescription medicines more affordable and accessible for all Americans.”
This is smart business for Wal-Mart. They will attract a lot of new customers into their stores who will increase their purchasing at their stores. This is the free market working it's magic.
Missoula's two Wal-Mart pharmacies and 10 others statewide will join with stores in every state except North Dakota to offer the cut-rate price for up to a month's supply of 331 generic drugs.
That's roughly one-fourth of the prescriptions Wal-Mart dispenses nationwide.
Fifty of the drugs on the list will sell for $9 in Montana and a handful of other states, because of state laws, according to David Tovar, national spokesman for Wal-Mart. (Missoula pharmacists at Wal-Mart were directed to forward all media questions to its national office.)
Among the more popular $4 drugs on Wal-Mart's list are amoxicillin, an antibiotic, and the cardiac drugs lisinopril (brand name Prinovil) and atenolol (Tenormin).
“We had such a great response from our customers, our pharmacists and elected officials all over the country saying we'd love you to do this in our state, we decided to speed up the roll-out by a few months,” Tovar said.
Bill Simon, executive vice president of Wal-Mart's Professional Services Division, said in a written statement that the company has received “hundreds of letters and e-mails from customers over the last few months telling us how this program has changed their lives.”
Wal-Mart is going to save a lot of money for people who need it most.
In a media release, Wal-Mart estimated customers in the first 38 states to participate in the program will save $1.3 million each month on the diabetes medication metformin (brand name Glucophage), and $750,000 a month on warfarin (Coumadin).
CEO Lee Scott says it best...
Lee Scott, president and CEO of Wal-Mart, said in a written statement the program is “bringing more affordable medicines to our nation's seniors, working families and the uninsured.”
“We are proud to have introduced competition to an area where it has been too scarce for too long,” Scott said. “We hope others will continue to join us in making prescription medicines more affordable and accessible for all Americans.”
This is smart business for Wal-Mart. They will attract a lot of new customers into their stores who will increase their purchasing at their stores. This is the free market working it's magic.
Tuesday, November 14, 2006
Ravalli County Votes For Wal-Mart
The voters of Ravalli County voted to repeal the zoning laws that essentially prohibited Big Box stores from being built. They clearly support and want Wal Mart in their community.
The Missoulian has a great opinion piece today explaining how the small businesses in Ravalli County can and should compete. It's going to take some effort and creativity and many will fail but they will be replaced by those who find a niche and exploit it.
Most important, however, is how they, the local retailers, treat their employees. That will have to improve in order for them to be competitive. The editorial had this to say which mirrors what I have said in previous blogs and in comments defending Wal Mart in other's blogs.
Treat your employees well. The rap on large retailers is that they don't pay well and are miserly about benefits. In fact, however, some of them pay their employees better and offer better benefits than small local merchants. The first step for any merchant worried about big box stores coming to town should make certain pay and benefits are competitive and - this should be the easier part - working conditions are good. Employees working for local merchants can aid their employers' survival and improve their own situations by finding ways to become more productive. Higher productivity makes higher pay possible.
Congratulations to Ravalli County employees and customers. The introduction of Wal Mart will force better prices, a higher level of service, better wages, better benefits, and better career opportunities!
The Missoulian has a great opinion piece today explaining how the small businesses in Ravalli County can and should compete. It's going to take some effort and creativity and many will fail but they will be replaced by those who find a niche and exploit it.
Most important, however, is how they, the local retailers, treat their employees. That will have to improve in order for them to be competitive. The editorial had this to say which mirrors what I have said in previous blogs and in comments defending Wal Mart in other's blogs.
Treat your employees well. The rap on large retailers is that they don't pay well and are miserly about benefits. In fact, however, some of them pay their employees better and offer better benefits than small local merchants. The first step for any merchant worried about big box stores coming to town should make certain pay and benefits are competitive and - this should be the easier part - working conditions are good. Employees working for local merchants can aid their employers' survival and improve their own situations by finding ways to become more productive. Higher productivity makes higher pay possible.
Congratulations to Ravalli County employees and customers. The introduction of Wal Mart will force better prices, a higher level of service, better wages, better benefits, and better career opportunities!
Friday, November 03, 2006
Wal-Mart Attendance Policy Gets Criticized
Wal-Mart just wants to have it's employees show up to work on time. It's difficult to run a business when some people are chronically late. They are taking steps to tighten up their policy and require employees to be on time. Is that asking too much?
If a Wal-Mart employee has seven unexcused absences, they are terminated. I think this is pretty generous. Seven. They are given 10 minutes of grace time before they are considered late. 10 minutes.
Why is this controversial? It's beyond me that there are Wal-Mart haters out there saying this is attempt to weed out unhealthy and costly long term workers as it seeks to cut labor costs. Are the critics saying unhealthy and long term workers the most irresponsible and can't get to work on time? I doubt it.
An employee gets seven chances before they're job is in jeopardy. This should easily account for any emergencies. Don't forget that they are in the clear if they call ahead of time. I am certain the the management of the local Wal-Mart will not penalize an employee if they had a family and/or medical emergency.
"After a year of adopting anti-family policy after anti-family policy, Wal-Mart adds further insult to injury by adopting a new restrictive attendance policy that treats hard-working associates like children while penalizing them if, God forbid, they face a child or friend with a medical emergency," said Chris Kofinis, a spokesman at WakeUpWalmart.com, a watchdog Internet site.
If a Wal-Mart employee has seven unexcused absences, they are terminated. I think this is pretty generous. Seven. They are given 10 minutes of grace time before they are considered late. 10 minutes.
Why is this controversial? It's beyond me that there are Wal-Mart haters out there saying this is attempt to weed out unhealthy and costly long term workers as it seeks to cut labor costs. Are the critics saying unhealthy and long term workers the most irresponsible and can't get to work on time? I doubt it.
An employee gets seven chances before they're job is in jeopardy. This should easily account for any emergencies. Don't forget that they are in the clear if they call ahead of time. I am certain the the management of the local Wal-Mart will not penalize an employee if they had a family and/or medical emergency.
"After a year of adopting anti-family policy after anti-family policy, Wal-Mart adds further insult to injury by adopting a new restrictive attendance policy that treats hard-working associates like children while penalizing them if, God forbid, they face a child or friend with a medical emergency," said Chris Kofinis, a spokesman at WakeUpWalmart.com, a watchdog Internet site.
Friday, September 22, 2006
Wal-Mart To Test $4 Generic Drugs
Wal-Mart, again, is helping low income consumers by offering 130 generic prescription drugs for only $4.00. They are testing it in Tampa to start and if it is successful it should go nation wide.
Here is another testament to Wal-Mart's commitment to it's core customer - the low income consumer.
Likely to benefit most from the discounter's plan unveiled Thursday will be Floridians without health insurance and seniors stuck in the coverage gap -- "doughnut hole" -- of Medicare's prescription drug program. Both groups now pay the total cost of their drugs and would save from a $4 prescription for drugs that usually sell for up to $30 per month.
The $4 plan covers 291 formulations of 130 drugs that Wal-Mart called the most commonly used generics. These include drugs for high blood pressure, heart disease, diabetes, infections, gastric distress, asthma and depression.
For example, consumers could save at least $8 on a 30-day supply of the heart drug lisinopril, which had cost $12 at Wal-Mart and costs about $20 at other drug chains. Also on the list is fluoxetine (generic Prozac), which costs about $25 for a 30-day supply at other chains.
Of course, the author of the above article couldn't help but take some swipes at the program and Wal-Mart.
Here is another testament to Wal-Mart's commitment to it's core customer - the low income consumer.
Likely to benefit most from the discounter's plan unveiled Thursday will be Floridians without health insurance and seniors stuck in the coverage gap -- "doughnut hole" -- of Medicare's prescription drug program. Both groups now pay the total cost of their drugs and would save from a $4 prescription for drugs that usually sell for up to $30 per month.
The $4 plan covers 291 formulations of 130 drugs that Wal-Mart called the most commonly used generics. These include drugs for high blood pressure, heart disease, diabetes, infections, gastric distress, asthma and depression.
For example, consumers could save at least $8 on a 30-day supply of the heart drug lisinopril, which had cost $12 at Wal-Mart and costs about $20 at other drug chains. Also on the list is fluoxetine (generic Prozac), which costs about $25 for a 30-day supply at other chains.
Of course, the author of the above article couldn't help but take some swipes at the program and Wal-Mart.
Tuesday, September 19, 2006
Wal-Mart Fights Back
Here is an article about how Wal-Mart is fighting back politically by starting a registration and education campaign for their 1.3 million employees and encouraging them to get the facts and vote.
It is to combat the negative criticism from the Democrats and Labor Union.
Way to go Wal-Mart!!!
It is to combat the negative criticism from the Democrats and Labor Union.
Way to go Wal-Mart!!!
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