The news: Walmart is teaming up with health tech company BetterUp for its caregiver-focused mental health platform, dubbed BetterUp for Caregivers.
More on BetterUp: The platform combines AI tech, behavioral science, and an online community to provide mental wellness resources to caregivers.
The bigger picture: Caregivers are facing high rates of stress and burnout—and they don’t always have the resources to address it.
The big takeaway: As demand for caregiving rises alongside the aging population, and more of healthcare moves into homes, Walmart is taking steps to be an early entrant in this nascent, yet growing market.
What’s the catch? Even though BetterUp’s service is bypassing insurance, it’s still expensive. It costs consumers $124.99 per month to use, per its website. Some caregivers could be better off using any private or public insurance they have.
To add, since it’s direct-to-consumer (D2C) offering, caregivers may not even know that this kind of service is available to them via Walmart. There are other competitors offering the same thing, too. So the question is, how does Walmart-BetterUp’s marketing strategy differ from others to capture caregiver consumers?
What’s next? All things considered, scalability for this new service might be hard, so Walmart could look to partner with home health agencies that are experiencing high rates of turnover among their caregiver employees.
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