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PDF Editor FAQ
Are there any updates on the new Amazon, JP Morgan, and Berkshire Hathaway healthcare venture?
President Trump discovered, to his surprise, that health care is complicated. The initiative you refer to was only announced a few months ago. The people behind this are careful and thorough and are not likely to be saying much about what they are doing until they are ready to do it.Here is some info from a June 2018 Bloomberg article. Unfortunately, I can’t paste a link to this article because Bloomberg won’t allow it. However you can find it using google.Gawande, a Harvard surgeon and journalist was named last June as the person tasked with heading this project.It will initially affect only employees of these companiesGawande said the venture will seek to target three kinds of waste in the health-care system: administrative costs, high prices, and improper health-care usage. He didn’t say which intermediaries the venture might target, or what its plans are.“One source of waste is our very high administrative costs,” he said during a conversation with journalist Judy Woodruff at the Spotlight Health event. “There are a lot of middlemen in the system, and there have to be solutions that simplify that, take some of the middlemen out of the system.”Gawande also said the venture has a long time horizon, echoing past remarks from Berkshire CEO Warren Buffett and JPMorgan CEO Jamie Dimon. He raised questions about the future role of employers in the U.S. health-care system, as workers increasingly move between jobs or work in many smaller roles that don’t provide insurance in the gig economy.Here is a link to a more detailed NY Times article about the June 2018 appointment of Mr. Gawande to head this initiative. Amazon, Berkshire Hathaway and JPMorgan Name C.E.O. for Health InitiativeOn September 4, 2018, The Boston Business Journal reported that Jack Stoddard, former general manager for digital health at Comcast, was hired as the Chief Operating Officer for this new company.The appointment of Jack Stoddard, who most recently served as general manager for digital health at Comcast, was first reported by CNBC and confirmed to the Business Journal by a spokesperson at the health care venture. The still-unnamed company, which is focused on reengineering health care for the companies’ combined 1.2 million employees, announced in June that it will be headquartered in Boston and has named Brigham and Women’s surgeon Dr. Atul Gawande as its CEO.“We are very pleased to welcome Jack Stoddard to our team," the spokesperson said.Prior to working at Comcast, Stoddard was a top executive at health benefits startup Accolade. He also worked at Optum before the claims processing firm was acquired by UnitedHealthcare Group.The appointment comes four days after the New York Times ran a story pointing to Comcast as one of the most innovative companies when it comes to transforming health care for its employees. Gawande has also received national media attention for his views on addressing health care costs.Little specifics have been disclosed about the health care venture since Gawande was announced as CEO in June. Broadly, the organization has said it will strive to reduce health care costs and improve employee satisfaction in health care in a way free from profit-making incentives.It looks like this venture is busy gathering good talent. It may be awhile before they do anything concrete.
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