Costco (Nasdaq: COST) is the latest retail giant to get into the behavioral health space, thanks to a new partnership with telehealth marketplace Sesame.
Through the new partnership, the Issaquah, Washington-based wholesaler is now offering its members discounted pricing on a number of outpatient medical services.
Costco is just one of a growing number of retailers that have ventured into behavioral health services.
As part of this new partnership, Costco members will be able to access virtual mental health therapy visits for $79. The partnership will also offer members virtual primary care visits for $29 plus health check-ups with labs and a follow-up consultation for $72. Members will also get 10% off Sesame’s in-person appointments.
Sesame does not accept insurance, meaning that all of the services are cash pay.
“Quality, great value and low price are what the Costco brand is known for,” David Goldhill, Sesame’s co-founder and CEO said in a statement. “When it comes to health care, Sesame also delivers high quality and great value – and a low price that will be appreciated by Costco Members when it comes to their own care.”
Sesame is a self-pay health care marketplace. The startup closed a $27 million Series B funding round in 2022, bringing its total raise to more than $50 million.
In addition to Costco, Walmart (NYSE: WMT) has also demonstrated an interest in behavioral health services. In 2020, reports surfaced that the company was offering a service where customers could speak with a counselor at certain Walmart Health centers for $1 a minute.
In 2022, Walmart and UnitedHealth Group (NYSE: UNH) rolled out a value-based care model at 15 Walmart locations, with behavioral health being a core part of the arrangement.
CVS Health (NYSE: CVS) is also deep in the behavioral health space. In May, the organization announced that it would staff six Los Angeles-based MinuteClinics with licensed mental health professionals. It had already done so in more than a dozen other state markets.
