"What happens when a company defined by utterly ruthless efficiency sets its sights on the flabbiest part of the U.S. economy? We shall see, now that Amazon has announced that it–along with Warren Buffett’s Berkshire Hathaway and the banking behemoth JPMorgan Chase–will be entering the dominion of health care.
“The three of our companies have extraordinary
resources, and our goal is to create solutions that benefit our U.S.
employees, their families and, potentially, all Americans,” said
JPMorgan chairman Jamie Dimon on Jan. 30, treading lightly
(“potentially”) on the enormous implications (“all Americans”) that were
apparent. As it takes shape, the as-yet-unnamed joint enterprise will
nominally serve, without seeking profit, only the 1.2 million people who
work for the three companies.
But the clear and worthy goal is to confront the Gorgon that has stymied politicians for decades."
"The U.S. health care system is the antithesis of Silicon Valley. Grossly
inefficient and user-unfriendly, it may be the least transparent
enterprise outside the Kremlin–and just as awash in money. The $3.3
trillion that Americans spent on health care in 2016 was close to
Germany’s entire GDP that year. It accounted for an astounding 18% of
the U.S. gross domestic product–twice the share other developed
countries typically spend on health–and produced a return on investment
that would get any CEO fired. Life expectancy in the U.S. is actually
going down." - What Happens When Amazon Takes on Health Care, 02/01/2018, time.com
Link to the entire article appears below: