Amazon Tackles Health Care With Warren Buffett, JPMorgan

Do you take Amazon Prime Health?

Amazon has teamed with Warren Buffett'due south belongings company Berkshire Hathaway and financial services behemothic JPMorgan Chase on a new effort aimed at serving the health intendance needs of their United states-based employees.

The companies are forming a new, not-for-turn a profit organization that will focus on creating "technology solutions that will provide US employees and their families with simplified, high-quality, and transparent health care at a reasonable cost."

In a statement, Jeff Bezos acknowledged that the U.s. health intendance system is "complex," and said the companies are "open-eyed about the degree of difficulty."

"Hard as it might be, reducing health care's burden on the economy while improving outcomes for employees and their families would be worth the effort," Bezos added. "Success is going to require talented experts, a beginner's mind, and a long-term orientation."

It's not entirely articulate how the effort will work. The companies are yet in the "early on planning stages" of this effort. Amazon Senior VP Beth Galetti, JPMorgan Chase Managing Director Marvelle Sullivan Berchtold, and Berkshire Hathaway Investment Officer Todd Combs will work together to oversee the initial formation of the articulation entity, which has not still been named.

"The longer-term management squad, headquarters location and cardinal operational details will be communicated in due class," they wrote in a printing release.

The declaration comes subsequently pharmacy chain CVS in December bought health insurance company Aetna for $69 billion, a merger that perchance makes more sense in light of this Amazon news. The New York Times when reporting on the CVS/Aetna merger noted that "rapid changes in technology" take allowed "new competitors – nearly notably Amazon" to become players in the wellness care space.

About Angela Moscaritolo

Angela Moscaritolo is PCMag'due south good on fitness and smart dwelling house products. Teaching yoga for nearly 10 years has helped her in evaluating a range of continued wellness products including fitness trackers, center rate monitors, rowers, smart scales, stationary bikes, strength training machines, treadmills, and more. Angela also tests smart abode devices from her ranch in Florida, including air purifiers, kitchen appliances, and robot vacuums, simply to name a few.

Source: https://sea.pcmag.com/news/19349/amazon-tackles-health-care-with-warren-buffett-jpmorgan

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