We don't do healthcare, but we're going to give it a go

Amazon, Berkshire Hathaway and JP Morgan Chase join forces to tackle employees' health-care costs

There were nearly no details available about how the company would function or how it would disrupt and simplify the complicated fabric of American health care. The company is also scouting sites for a second North American headquarters, where it plans to employ as many as 50,000 full-time workers, many of them in high-paying office jobs. For one thing, calling Amazon a tech company overlooks its physical presence across the globe, something that's growing with each new venture, like grocery shopping and delivery. "We have incentives that go the wrong way with physicians being paid by how many patients they see, not the quality they provide". Lilly tripled the price of insulin during Azar's tenure there.

The big bank can predict consumer trends, often knowing when a credit card user is going to go bankrupt before the individual himself knows, Friend noted. Sounds like leverage to me.

While then-candidate Trump specifically targeted drug makers with his rhetoric, now-President Trump is a bit more generic about bringing down drug costs. It will be interesting to watch as smaller vendors and healthcare organisations take it up in earnest and how soon we will see the benefits, if indeed there are any.

Washington was never good at standing up to the medical-industrial complex.

The company is one of America's largest conglomerates, and its concentrated leadership-that is, Buffett's strong personality and unparalleled track record-made it hard to document a succession plan that would be perceived as positive. And a separation between the public's wallet and Big Pharma's desire to extract huge profits is surely one wall Trump will never build.

It's impossible to assess the viability of their plans when there really aren't any, but it makes flawless sense that three large companies, recognizing that they are contributing to the record profits of other large companies ― i.e., insurance companies ― would want to take a stab at decreasing their own expenditures.

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The collaboration will likely pressure profits for middlemen in the healthcare supply chain. The investment community had been waiting for a succession plan at Berkshire; and the announcement might suggest that Abel and Jain, alone or together, might lead the company in the near future. Bezos, of Amazon, provides a proven ability to bring health care into the age of the internet and beyond.

The bottom line is that they're not the first employer that's tried to transform healthcare and they won't be the last. Their aim is to "disrupt" the forces that saddle them with exorbitant prices.

"The ballooning costs of health care act as a hungry tapeworm on the American economy", said Berkshire Hathaway Chairman and CEO Warren Buffett in the. Also of concern are the role of skyrocketing drug prices protected by patents and direct-to-consumer advertising; expensive end-of-life decisions; explosive potential use of genetic information; and prevention and management of chronic conditions derived from personal choices. "Employers offer a lot of resources to their employees to help them maximize their experience, and their No. 1 challenge is engagement". ("Ask your doctor about Humira.") In 2012, Humira cost a ridiculous $19,000 a year. Additionally, these companies may develop a more effective way to manage specialty drug spending, which drives an enormous amount of health care spending.

This could theoretically help make health care more affordable. No one says this will be easy, and doubters point to past failed corporate efforts.

Amazon's e-commerce operation could be used to send medication direct to patient's homes, saving them trips to a pharmacy. To that end, health systems and other organizations increasingly are encouraging people to establish relationships with a primary-care team that can catch and control chronic ailments before they spiral and costs mount. The effect of this announcement - if any - on the Australian healthcare sector is unknown so we'll sit back and watch, but in the meantime another private sector USA initiative is shortly to arrive here to do a bit of disruption itself.

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