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Amazon, Berkshire, JPMorgan Link Up to Form New Health-Care Company


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2018 Jan 30, 9:23am   1,952 views  4 comments

by Patrick   ➕follow (55)   💰tip   ignore  

https://www.bloomberg.com/news/articles/2018-01-30/amazon-berkshire-jpmorgan-to-set-up-a-health-company-for-staff
News Tuesday that Bezos’s Amazon.com Inc., Buffett’s Berkshire Hathaway Inc. and JPMorgan Chase & Co., led by Dimon, plan to join forces to change how health care is provided to their combined 1 million U.S. employees sent shock waves through the health-care industry.

The plan, while in early stages and focused solely on the three giants’ staff for now, seems almost certain to set its sights on disrupting the broader industry. It’s the first big move by Amazon in the sector after months of speculation that the internet behemoth might make an entry. The Amazon-Berkshire-JPMorgan collaboration will likely pressure profits for middlemen in the health-care supply chain.

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It was enough to sink health-care stocks. Express Scripts Holding Co. and CVS Health Corp., which manage pharmacy benefits, slumped 9.7 percent and 5.7 percent, respectively. Health insurers such as Cigna Corp. and Anthem Inc. also dropped.


Good.

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1   justme   2018 Jan 30, 9:26am  

We can only hope something good will come out of this initiative. But all those expensive new medical buildings have already been built, and someone has to pay for them. I'm afraid it is going to be you and I that end up paying.
2   anonymous   2018 Jan 30, 10:22am  

Patrick says
News Tuesday that Bezos’s Amazon.com Inc., Buffett’s Berkshire Hathaway Inc. and JPMorgan Chase & Co., led by Dimon, plan to join forces to change how health care is provided


Yes, just imagine, going to the meat department at Whole Foods for your next colonoscopy. Sounds like fun!
3   zzyzzx   2018 Jan 30, 10:25am  

I'm envisioning something along the lines of how Kaiser Permente got started. Supposedly it was formed to provide medical services for the employees
https://en.wikipedia.org/wiki/Kaiser_Permanente
4   anonymous   2018 Jan 30, 10:45am  

Bezos, Buffet, and Dimon. Three people I trust even less than the current scumbags to be tasked with collecting Economic Rents in the name of American Healthcare

Buffet owns McDonalds and Coke, so he has a vested interest in continuing to make Americans sick

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