Berkshire Hathaway, Amazon, JP Morgan Chase to create nonprofit health care venture

Amazon Berkshire and JP Morgan to form new healthcare company

Amazon Berkshire and JP Morgan to form new healthcare company

And the combined weight of these companies will bring to bear resources that few other companies can match, says health-care expert and journalist Sam Baker of Axios.

The fine details have yet to be revealed, but the stated plan is to create a company that would be free from profit-making incentives.

"The ballooning costs of health care act as a hungry tapeworm on the American economy", Warren Buffett, Berkshire's fabled CEO, stated with trademark simplicity.

"Our people want transparency, knowledge and control when it comes to managing their healthcare", said Jamie Dimon, Chairman and CEO of JPMorgan Chase.

"On its face, it's hard to believe this is the person who's going to ante up and pursue an aggressive agenda on drug prices in the Trump administration", Dylan Scott, a Vox reporter, told us. Some of the advice has been edited for clarity and length.

Companies like employment-based health care, despite its costs, because it keeps the workforce captive.

And he's a longtime critic of the health care system. "They'd probably have to miniaturize them, wouldn't they?"

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Jeanette Wojtalewicz, chief financial officer with CHI Health, said the companies could look at employee data to determine what's driving their health care needs and pinpoint higher costs.

CHI's Wojtalewicz said such calculations are complicated. There's too much money to be made in standing down.

Futurists, who study and make predictions about technological and scientific innovations to come, are confident Amazon will play a significant role in health care.

Any movement to think "outside of the box" should be as welcomed as hope for the future. Medicare for All would allow for real negotiation over medical costs and would ensure that profit doesn't endanger care.

Editorial pages focus on the initiative to hold down employee health care costs put forth this week from Amazon, JP Morgan Inc. and Berkshire Hathaway. The employer-sponsored health insurance market provides coverage to approximately 160 million Americans. "If they can come up with a better tool, that's a good thing", she said.

"They recognize this is [a] long-term play to get involved in this". Keckley said. "This industry is ripe for disruption".

We also talked Thursday about President Trump's talk in the State of the Union about lowering drug prices.

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Thompson says that given Amazon and Berkshire's records, it's clear "that they have the potential to truly change the consumer experience for their employees, and frankly, that could become a model that could be used by other employers". It's intriguing to consider the possibilities of integrating health care into consumer routine. "I think we could easily move into that very soon".

With a combined net worth of approximately $1.6 trillion and almost 1 million employees, these three outstanding innovators and market makers certainly possess the clout to demand fundamental changes. Change incentives for providers.

A NEW people problem that businesses are facing today is that their low-wage employees are struggling to afford health insurance and healthcare on their own, putting greater pressure on the companies' turnover, recruiting and workers' compensation costs.

The Kaiser Permanente insurance network - among the largest not-for-profit providers in the U.S., covering 11.7 million people - arose from an unconventional, prepaid approach to insurance and health care.

Accessing healthcare in the United States is astronomically more expensive than in any other developed county. So, we are pleased to see them go down this path.

Additionally, not operating on a single-payer system means the overhead costs are much larger, contributing to the astronomical prices. "Potentially, it could be a help to all of us". In July, he complained about politicians arguing about "stupid (expletive)" instead of solving problems.

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