February 7, 2018
PUBLISHED BY Laura Dyrda
SOURCE Becker's Hospital Review
When Amazon, JPMorgan Chase & Co. and Berkshire Hathaway launched their partnership in the healthcare space, they left more questions than answers about their new venture. The announcement shared few details on how the companies would partner, but ultimately shared the goal of providing high-quality, lower-cost healthcare to employees and their families.
All three companies are disruptors in their industries, but have little experience in healthcare. Here, 35 executives from across the healthcare industry share their reaction to the announcement and predictions for the future.
Q: How do you think the partnership will develop?
Phyllis Whiteley. Partner at Wildcat Venture Partners (San Mateo, Calif.): “We have already started to see this in the self-insured employer market, which is desperately trying to save costs and improve the healthcare experience for their patients. This administrative burden is still high, and technology should help with that. Having big technical powerhouses and thought leaders solve these problems is great. One only has to look at what Walmart and Lowe’s have done with Centers of Excellence to make way for companies like Carrum. The traditional third-party payers still focus on an administrative model and are less willing to invest in technologies. We still have a complicated regulatory and reimbursement challenge and an FDA that is slow to understand how to use new technologies. Initial changes may first be seen on reducing administrative costs and the care experience.”
Read the full article on Becker’s Hospital Review here.