3-2 Milestone One Elevator Pitch

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1 3-2 Milestone One: Elevator Pitch Business Administration, Southern New Hampshire University BUS 400: Driving Business Opportunities Professor Michael VanPatten January 28, 2024

2 Good morning Everyone, For those of you I have not hard the pleasure of meeting, My name is Zac Colby and I am the new Chief Innovation Officer for Walmart, Inc. I would like to spend a few minutes with you this morning introducing you to a new idea that I believe with be highly valuable and profitable to Walmart. It is my belief that this new business venture will follow Walmarts vision and strategic mission. This new business expansion is outside of the traditional Walmart department stores of history, and it is to create an Urgent Care clinic for our customers. According to our 2023 Annual Report “our strategy is to make every day easier for busy families, operate with discipline, sharpen our culture and become more digital, and make trust a competitive advantage.” (Walmart, 2023). Walmart also has a strong philosophy on pricing which is everyday low prices or EDLP as well as cost which is everyday low cost or EDLC. These are two commitments we have made to our customers which means we will keep our costs low and also our prices. Our new Walmart Urgent Care departments will directly follow these two areas of our strategic plan where we will keep our costs as low as possible allowing us to provide healthcare services to our customers at a low rate. Our focus will be on non-life- threatening injuries and illnesses but we will partner with local hospitals and EMS Services for customers/patients who become life threatening or need further treatment that we do not provide. While in the first Healthcare venture which was partnered with the United Health Group did result in financial issues and as stated in the annual report, “Walmart Health clinical operations are also subject to numerous risks, including but not limited to: reductions in the third-party reimbursement rates for services; changes in our payer mix; changes in the health insurance market generally; our inability to retain and negotiate favorable contracts with private

3 third-party payers, including managed care plans; competition for patients from other healthcare providers, including those that offer telehealth services;…” (Walmart, 2023). I do feel that although there are a lot of risks Walmart Health did provide business educational opportunities which we have learned from, and Walmart Urgent care will be a low cost and low risk business opportunity. According to an article by Forbes.com the average urgent care costs are listed below: Annual Wellness Exam $138.20 Blood Draw $91.67 Blood Sugar Test $32.00 Chest X-ray $88.75 EKG $108.67 Flu Shot $35.29 HIV Test $60.00 IV Fluid $79.80 Minor Burn $122.00 MMR (measles, mumps, rubella) $112.00 Mono Test $41.75 Nebulizer machine $98.00 Pink eye & styes $142.00 Pregnancy Test $43.13 School Physical (K-12) and Sports Physical $51.00 Sinus Infections & Congestion $142.00 Sprains, strains and joint Pain $174.50

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4 Stitches 0-5 stiches $149.50 Strep or sore throat $75.00 Tdap (tetanus, diphtheria, pertussis) $81.29 Urinary Tract Infection (UTI) $142.00 X-ray $132.80 (Kissell,C., 2022) Based on the above information and with Walmart’s strategy to keep costs and prices low there should be a gain in revenue with this new business opportunity. Urgent care costs are lower than Emergency Rooms so the prices to the customer/patient are lower. This should also increase revenue to the pharmacy and the stores in general. There are numerous factors that will play into the profitability including payer mix, individual state and federal regulations and policies but based on Walmart’s financial position we are in a good position to make this business move. It is not projected to have immediate profitability, but Urgent Care facilities have done very well across the country and continue to do well. Walmart Urgent Care does enhance the company’s overall mission with making every day easier for busy families. Families need an easy and affordable option for urgent care needs such as acute injuries and illnesses. Walmart strives to keep prices low and this is another way we can do it. In conclusion with Walmart Urgent Care we together will be able to increase our revenue and also provide a much needed service to our customers and communities. Thank you very much for your time and I look forward to you supporting this new Walmart initiative.

5 References : Walmart. (2023). Annual Report . https://s201.q4cdn.com/262069030/files/doc_financials/2023/ar/Walmart- 10K-Reports-Optimized.pdf Kissell, C. (2022, October 16). How Much Does an Urgent Care Visit Cost in 2023? – Forbes Advisor . Www.forbes.com. https://www.forbes.com/advisor/health- insurance/urgent-care-cost/

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