The three companies are entering into a partnership to address medical care issues for their US employees.
Amazon, JPMorgan Chase and Berkshire Hathaway have announced that they will be working together to discover ways to improve American health care for their U.S. employees.
The goal will be to boost their worker satisfaction while lowering costs related to illness and care.
The three giants will be looking to offer better American health care to their employees by way of an independent company. That firm will be free from incentives and restrictions typically associated with making profit. The primary focus of this independent company will be to come up with technology solutions that will make it possible for American workers and their families to receive simplified, transparent health care at a price they can actually afford.
The three partnered companies are hoping to come together with each of their resources and capabilities in order to take a whole new look at the challenges associated with providing quality health care, and the ways in which they can be overcome.
American health care’s rising costs are a “hungry tapeworm” to the U.S. economy, said Warren Buffet.
Amazon’s CEO and founder, Jeff Bezos, has explained that there is significant complexity to the U.S. health care system and the three companies are fully aware of the size of the challenge they are facing as they attempt to offer their employees improved coverage and care. That said, he feels that the effort is more than worthwhile as its accomplishment will help to ease the economic burden of health care while improving the wellness of employees and their families. “Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”
Similarly, “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. Rather, we share the belief that putting our collective resources behind the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes,” said Warren Buffett, Berkshire Hathaway CEO and chairman.
JPMorgan Chase chairman and CEO, Jamie Dimon, explained his take on the American health care challenge by saying that their employees are seeking “transparency, knowledge and control” when it comes to their health care management. The three companies can each contribute “extraordinary resources” with which they can come up with solutions to improve the health care of their U.S. employees as well as their families. His hope is that this will help to create an example that will eventually offer improvements for all Americans.