Walgreens Boots Alliance, Inc.
’s
WBA
division Walgreens Health entered into a collaboration with Buckeye Health Plan to deliver innovative health and wellness services to Medicaid members in five northeast Ohio neighborhood locations this summer. Buckeye Health Plan is the third payer to team up with Walgreens Health to open Walgreens Health Corner locations.
These Walgreens Health Corner locations will provide eligible Ohio Medicaid members access to an integrated healthcare experience under the direction of Health Advisors, who are pharmacists or registered nurses. The Health Advisors will offer a variety of health and clinical services that supplement care received from primary care physicians and specialists. Patient care services and related outcomes will be shared with Buckeye Health Plan and other patient care providers to support personalized holistic care.
This latest collaboration follows a successful Walgreens Pharmacy pilot program with Buckeye Health Plan in 2021. It underscores Walgreens’ new vision to be the leading partner in reimagining local healthcare and wellbeing for all. For Buckeye Health Plan, this collaboration unlocks access to highly personalized, quality care from trusted local healthcare professionals while aligning with the company’s vision to transform community health, one person at a time.
An Overview of the Services Available to Ohio Medicaid Members
Walgreens Health has contracts to serve more than 2.27 million patients, with new partners in California and New Jersey across the commercial and Medicare plan patient groups, respectively. The current Walgreens Health Corners will increase from 55 to around 100 locations by the end of 2022, including the extra five in Ohio.
The Walgreens Health Corner locations will offer services like preventive care, wellness checks and assistance with managing chronic conditions. These services include select health screenings, scheduling mammography appointments, provision of test kits for colorectal cancer and diabetic urine screenings and counsel from Health Advisors on general health questions, to name a few. The services will be provided at no additional cost to qualifying Buckeye Health Plan members in northeast Ohio.
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Per Walgreens’ management, these services are intended to improve care management and coordination by giving Buckeye Health Plan members access to more affordable and convenient services where they live. They also aim to reduce gaps between recommended best practices for a patient’s care and the care that is given.
Industry Prospects
Per a report
by TechNavio, the health and wellness market is expected to see a CAGR of 6.29% from 2020 to 2025. The growing emphasis on effective health and wellness products and greater adoption of a healthy lifestyle by consumers worldwide, among other factors, can be attributable to market growth.
Given the market potential, Walgreens’ latest collaboration to deliver health and wellness services to eligible Ohio Medicaid members seems well-timed.
Other Notable Developments
Walgreens is engaged in several significant developments this month.
Walgreens initiated the administration of Pfizer and Moderna’s COVID-19 vaccines for the younger population, specifically children aged three years and older. The vaccine administration at select locations nationwide follows FDA’s Emergency Use Authorization (EUA) and new guidance from the Centers for Disease Control and Prevention (CDC), which states that children as young as six months are eligible to receive a Pfizer or Moderna COVID-19 vaccine.
The company also launched its clinical trial business to improve patient experience and enhance access and retention in sponsor-led drug development research. The flexible clinical trial model integrates Walgreens’ extensive foundation of patient insights, partner-enabled health and technology capabilities and in-person and virtual care options to overcome the obstacles related to engaging larger and more diverse communities.
Share Price Performance
The stock has underperformed its
industry
in the past year. WBA has declined 23% compared with the industry’s 2.8% fall.
Zacks Rank and Key Picks
Currently, Walgreens carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are
Alkermes plc
ALKS
,
AMN Healthcare Services, Inc.
AMN
and
Medpace Holdings, Inc.
MEDP
.
Alkermes has an estimated long-term growth rate of 25.1%. Alkermes’ earnings surpassed estimates in the trailing four quarters, the average surprise being 350.5%. It currently carries a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
Alkermes has outperformed the industry in the past year. ALKS has gained 14.4% against the industry’s 42.6% decline in the said period.
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, on average. It currently flaunts a Zacks Rank #1.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 7.6% against the industry’s 54.2% fall.
Medpace has a historical growth rate of 27.3%. Medpace’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%. It currently has a Zacks Rank #2 (Buy).
Medpace has outperformed its industry in the past year. MEDP has declined 20.2% compared with the industry’s 54.2% fall.
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