How Amazon, Berkshire Hathaway and JPMorgan will impact health care
Amazon, JPMorgan, and Berkshire Hathaway health joint venture CEO pick
Warren Buffett, Jamie Dimon, and Jeff Bezos are among the CEOs thinking of new ways to curb healthcare costs. Jenny Cheng/Business Insider
- JPMorgan, Amazon, and Berkshire Hathaway have selected a CEO to run their new healthcare venture.
- The trio of employers have selected Dr. Atul Gawande, a surgeon who is also a professor at the Harvard T.H. Chan School of Public Health and Harvard Medical School.
- The venture, announced in January, is aimed at lowering healthcare costs for the companies' employees, though there haven't been many details about what that looks like.
The healthcare venture that JPMorgan, Amazon, and Berkshire Hathaway announced back in January finally has a CEO.
The three employers have selected Dr. Atul Gawande, a surgeon who is also a professor at the Harvard T.H. Chan School of Public Health and at Harvard Medical School, they said in a news release. The venture will be based in Boston.
The venture, announced in January, is aimed at lowering healthcare costs for the companies' employees, though there haven't been many details about what that looks like.
Gawande, in addition to practicing general and endocrine surgery at Brigham and Women's Hospital in Boston, is a staff writer for The New Yorker.
"This work will take time but must be done," Gawande said in the companies' news release. "The system is broken, and better is possible."
The three companies are self-insured employers, which means that when you're an employee going to a doctor's appointment, your employer, rather than a health insurer, is ultimately footing the bill for the MRI exam you receive.
"We're already the insurance company, we're already making these decisions, and we simply want do a better job," JPMorgan CEO Jamie Dimon told Business Insider in February.
The venture will be geared toward employees of the three companies rather than healthcare consumers overall in the US, though Dimon said all Americans stood a chance of benefiting.
"We said at the outset that the degree of difficulty is high and success is going to require an expert's knowledge, a beginner's mind, and a long-term orientation," Amazon CEO Jeff Bezos said in the statement.
Video: Amazon-Berkshire-JPMorgan Target Health Care Middlemen to Lower Costs
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