Tuesday, 30 January 2018

Amazon, Berkshire Hathaway and JP Morgan Chase to create independent healthcare co. for employees

quote [ Three major employers, Amazon, Berkshire Hathaway and JP Morgan Chase, announced Tuesday they were partnering to create an independent company aimed at reining in health care costs for their employees. ]

This is a follow up to my previous post about a not-for-profit generic drug company forming to fight rising health costs. Makes sense that the business giants would take the whole healthcare tar-baby in house at some point. Text in extended because WaPo.

Previous post on generic drugs:
http://www.sensibleendowment.com/entry.php/11111

Article from Bloomberg:
https://www.bloomberg.com/news/articles/2018-01-30/amazon-berkshire-jpmorgan-to-set-up-a-health-company-for-staff

WaPo article is short at this point, still under the "Breaking News" headline.
Reveal


Amazon, Berkshire Hathaway and JP Morgan Chase join forces to tackle employees’ health care costs

By Carolyn Y. Johnson January 30 at 8:31 AM, Washington Post

Three major employers, Amazon, Berkshire Hathaway and JP Morgan Chase, announced Tuesday they were partnering to create an independent company aimed at reining in health care costs for their employees.

The independent company would be jointly led by executives from all three companies and would be focused on technology that could increase transparency and simplify health care, according to the joint announcement. It will be free from the need to deliver a profit.

"The ballooning costs of healthcare act as a hungry tapeworm on the American economy. Our group does not come to this problem with answers. But we also do not accept it as inevitable," Warren Buffett, Berkshire Hathaway chairman said in a statement.

Few details were available about the new initiative, which is described as in the initial planning stages. The announcement comes amid anticipation that Amazon could disrupt health care as it has in other industries -- sending tremors through companies that make and supply prescription drugs.

“The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty,” Jeff Bezos, Amazon founder said in a statement. “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.”
[SFW] [health] [+7 Informative]
[by midden]
<-- Entry / Comment History

bbqkink said @ 1:39am GMT on 31st January
Damn you are more cynical than I am ..and I'm old.

bbqkink said @ 1:43am GMT on 31st January
Damn you are more cynical than I am ..and I'm old.
And like I said this will not lower "our"cost it will raise them. This will allow them to give their employees medical coverage and a lower cost to them...the rest of the insurance market will see rising cost as more people leave leave the risk pool.


bbqkink said @ 1:46am GMT on 31st January
Damn you are more cynical than I am ..and I'm old.
And like I said this will not lower "our"cost it will raise them. This will allow them to give their employees medical coverage and a lower cost to them...the rest of the insurance market will see rising cost as more people leave leave the risk pool.

This in combination with the the fuckery with the ACA will see a much smaller risk pool. increased hospital cost as the emergency rooms become primary medical care facilities again.



<-- Entry / Current Comment
bbqkink said @ 1:39am GMT on 31st January
Damn you are more cynical than I am ..and I'm old.
And like I said this will not lower "our"cost it will raise them. This will allow them to give their employees medical coverage and a lower cost to them...the rest of the insurance market will see rising cost as more people leave leave the risk pool.

This in combination with the the fuckery with the ACA will see a much smaller risk pool. increased hospital cost as the emergency rooms become primary medical care facilities again.




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