Amazon, Berkshire Hathaway, and JP Morgan Chase announced that they will be teaming up to form a unique health care company. This new health care company will be for their combined 1.2 employees. This collision can be the making of a new health care system for America. Not only will it provide cheaper health care it will also be free of political issues. The current health care system is constantly facing political backlash from both parties. The ever changing health care system is a weight on Americans.
The three tycoons have not released much information on exactly what the health care company will include but we do know a couple of things. In a joint statement they revealed that it will be “free from profit-making incentives and constraints.” And that the overall goal will be “improving employee satisfaction and reducing costs.”
This ideology is a breath of fresh air in the health care industry. The current health care industry can learn from the nonprofit models to strengthen the health care system.
If Amazon, Berkshire, and JP Morgan prove that the nonprofit approach is successful in providing cheaper health care without diminishing the quality of healthcare, it can be a significant step to contracting the idea to other employers.
We do not know how the Amazon, Berkshire, and JP Morgan collaboration will unfold, but if they live up to the hype of cheaper healthcare without losing quality, it will be a good start to restructuring the health care system.
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