by Mike Troy
Senior Walmart executives regularly invoke the name of Sam Walton when it serves to reinforce a point regarding the company's business model or the cultural principles on which Walton is said to have founded the company. Dr. John Agwunobi, president of health and wellness for Walmart U.S., took the practice a step further recently when he participated in a panel presentation with other top executives at a conference put on by the Center for Retailing Excellence at the University of Arkansas' Sam M. Walton College of Business.
When it was Agwunobi's turn to address an audience comprised primarily of Walmart suppliers, he shared a grainy video of Walton speaking at one of the company's Saturday morning meetings. It was early 1992, and Walton was seated next to then president and CEO David Glass. He was bemoaning the healthcare system, the markup charged for various tests he was receiving and a general lack of price transparency. "I wasn't there," Agwunobi said, "but he used that opportunity to deliver a very personal message that Walmart has a purpose."
That purpose, embodied by the company's "save money, live better" value proposition, has become a more powerful force, motivating Walmart's health-and-wellness strategies. "We want to lower the cost of health care so more people can have access to it," Agwunobi said. "Every employer in this environment is facing amazing increases in the price of health care, and we think we might have a way to help them."
He believes the concept of the productivity loop the company applies to other aspects of its business can work just as well in health care. By lowering prices so more people can buy products and services, the cost can be lowered to increase access so even more people can buy and prices can be lowered more and access improved further in a sort of virtuous cycle, according to Agwunobi.

