30 Jan, 2018

Amazon Dives Into Healthcare With New Partners JPMorgan And Berkshire Hathaway

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The healthcare industry just took a turn.

Breaking news reported this morning that Amazon will be emerging into the healthcare scope by partnering with Berkshire Hathaway, and JPMorgan Chase & Co.  The news broke with a statement provided by the three companies, with a common goal in mind: to provide U.S. employees and their families transparent healthcare at a reasonable cost.

“The three companies, which bring their scale and complementary expertise to this long-term effort, will pursue this objective through an independent company that is free from profit-making incentives and constraints.” According to the statement. 

A New Kind Of Healthcare

This new company will be led by executives from all three power-house companies, in order to benefit their U.S. employees. But benefiting their employees may only be the goal for now. JPMorgan Chase CEO, Jamie Dimon, mentioned in a statement that “potentially all Americans” will be able to eventually benefit from the new healthcare solutions.

This news may not come as a surprise if you have been keeping up with Amazon’s latest moves. Last summer, CNBC reported that Amazon was trying to fill jobs that involved the medical scope, that was known as a secret “1492 squad.” Now, the secret is out. There have also been rumors that Amazon’s digital devices like Amazon Echo and Alexa could be potentially used in the healthcare industry, to benefit both patients and providers.

“The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty,” said Jeff Bezos, Amazon founder and CEO. “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.” Jeff Bezos stated. 

The powerhouse trio is trying to make a change with the resources they have in the US healthcare system, and this will definitely do just that. Since consumers and companies are met with the US healthcare costs being the highest in the world, Amazon’s new company has the ability to provide employees with a more affordable and transparent benefit plan, which has the ability to eventually affect all U.S. consumers.

Since this move is in the beginning stages of planning, long-term changes will come in due time. Amazon is famous for testing out ideas for their employees, then releasing the end product to the common consumer. We saw this in the retail scope with cashierless stores, and now the healthcare industry is being targeted.

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