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Amazon, Berkshire and JPMorgan Forming Healthcare Company Focused on ‘Innovation Not Profits’

21st Century Wire says…

Is this the future of healthcare in America?

You can bet data mining and ‘giving up privacy for lower costs’ will be central tenets of this new technocratic healthcare venture. The key figure heads in this deal are none other than Jamie Dimon, Warren Buffett, and of course, the Amazon Washington Post’s Jeff Bezos.

Fortunes await those moguls who are able to extract and sell Big Data – to be harvested from ‘clients’…

SEE ALSO: Why US and Swedish Companies Are Pushing Microchip Implants on Employees

Zero Hedge reports…

In a move that might explain why Amazon has been quietly acquiring pharmacy licenses (not to mention hitting daily all time highs) the e-commerce giant – along with Warren Buffett’s Berkshire Hathaway and JP Morgan Chase & Co. – announced on Tuesday morning that they would partner to form a new health-care venture.

As stated in the press release, “Amazon, Berkshire Hathaway and JPMorgan Chase & Co. announced today that they are partnering on ways to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs. The three companies, which bring their scale and complementary expertise to this long-term effort, will pursue this objective through an independent company that is free from profit-making incentives and constraints. The initial focus of the new company will be on technology solutions that will provide U.S. employees and their families with simplified, high-quality and transparent healthcare at a reasonable cost.”

And here, for once, we fully agree with Warren Buffett:

“The ballooning costs of health care act as a hungry tapeworm on the American economy,” Buffett said in the statement on Tuesday. “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.”

In their release, the trio said they are working toward building an independent company focused on technology solutions “that will provide [their] US employees and their families with simplified, high-quality and transparent healthcare at a reasonable cost.” They will pursue this end through an independent company that would be free from profit making and other constraints.

They cited the “ballooning costs of health care” as the inspiration for their decision.

Continue this story at Zero Hedge…





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