GoKawiilZocdoc CEO Oliver Kharraz explains why Walmart Health and IBM Watson Health failed
In a Fortune commentary, Zocdoc founder and CEO Oliver Kharraz argues that Walmart's shuttered clinic network and IBM's sold-off Watson Health division both collapsed because they treated healthcare as a technology problem rather than a tangle of misaligned incentives and regulations. Walmart closed 51 clinics and its virtual care unit in 2024 after reimbursement and cost pressures made the business unsustainable, while IBM sold most of Watson Health in 2022 after sinking roughly $4 billion into it.