There have been reports over the past year that Amazon might be thinking about breaking into the healthcare industry. It perhaps one of the more complex and challenging industries that the company has tried to disrupt, but it will go ahead and do it anyway. Amazon is setting into the healthcare industry in partnership with investing hero Warren Buffet and JPMorgan Chase.
There aren’t a lot of details available about this project right now as it’s still said to be in the planning stage according to The Washington Post, but the idea behind it seems to be reducing costs while improving patient care using technology.
“The ballooning costs of (health care) act as a hungry tapeworm on the American economy,” Berkshire Hathaway founder Warren Buffet added.
The new healthcare company will be independent of the founding companies and will also be “free from profit-making incentives and constraints.” Executives from Amazon, Buffet’s Berkshire Hathaway, and JPMorgan Chase will lead the firm. The company will primarily be focused on employer-granted health benefits.
“Our goal is to create solutions that benefit our US employees, their families and, potentially, all Americans,” said JPMorgan Chase CEO Jamie Dimon.
The new company will initially focus on using technology solutions that help provide the firms’ U.S. employees and their families with simplified, transparent, and high-quality healthcare at a reasonable cost.
Amazon CEO Jeff Bezos knows that this is easier said than done. “The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty,” he says, adding that “Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”
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