Amazon consortium to form tech-focused healthcare company
The goal of the partnership, the companies say, is to improve employee satisfaction and reduce costs by bringing their scale and complementary expertise to this long-term effort. While the focus will be on the U.S. employees of their three companies, which total about one million employees combined, the resulting solutions could, they say, potentially benefit all Americans.
The companies plan to pursue this objective through an independent company that “is free from profit-making incentives and constraints.” The initial focus of the new company will be on technology solutions that will provide U.S. employees and their families with simplified, high-quality, and transparent healthcare at a reasonable cost.
“The ballooning costs of healthcare act as a hungry tapeworm on the American economy,” says Berkshire Hathaway Chairman and CEO, Warren Buffett. “Our group does not come to this problem with answers. But we also do not accept it as inevitable. Rather, we share the belief that putting our collective resources behind the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes.”
“The healthcare system is complex,” says Jeff Bezos, Amazon founder and CEO. “And we enter into this challenge open-eyed about the degree of difficulty. Hard as it might be, reducing healthcare’s burden on the economy while improving outcomes for employees and their families would be worth the effort. Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”
By bringing together three of the world’s leading organizations, the group says that it hopes to draw on its combined capabilities and resources to take a fresh approach to these critical healthcare challenges. The effort is currently in its early planning stages, and a longer-term management team, headquarters location, and key operational details will be announced at some later point.
Amazon
Berkshire Hathaway
JPMorgan Chase & Co.
Related articles:
Amazon secret lab exploring healthcare tech, says report
Apple health push brings medical records to iPhone
Blockchain-based personal health record platform empowers patients
GE, Nvidia partner on next-gen intelligent healthcare
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
