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Amazon, Berkshire Hathaway and JPMorgan Are Forming Independent Healthcare Company to Service Their U.S. Employees
Capital Markets, FinTech
Amazon, Berkshire Hathaway and JPMorgan Chase announced on Tuesday that they are teaming up to form “an independent company that is free from profit-making incentives and constraints” that will service the healthcare needs of their employees in the United States.
While the press release announcing the partnership is fairly scant on details, it notes that “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.”
Mr. Kaplan said larger insurers were frustratingly inefficient when it came to fixing problems like people visiting the emergency room when they did not need to, or requiring a doctor’s visit for routine tasks like refilling a prescription.
“There should be a way to avoid things like that, but they’re not really innovating,” he said of the health insurance companies. “They’re talking a good game, but they’re not really doing it.”