Amazon Partners and Other Big Names Enter Healthcare
It seems like every big name in the business wants a piece of healthcare. Apple is making deals with health networks to allow access to health records, while companies like CVS plan to merge with providers. It shouldn’t surprise you that Amazon CEO, Jeff Bezos, suggested partnering with Berkshire Hathaway and JPMorgan Chase to get a piece. These 3 company heads have decided to try and fix healthcare, but no solution or plan has been announced yet. So what does this mean for healthcare?
What Does Amazon & Co. Bring to the Table?
So what is the current situation that Amazon & CO would have to solve? Well for one, the price of insurance has skyrocketed the last few years, and it would be important to address. The venture hopes to provide employees and their families with simplified, high quality, and transparent healthcare at a reasonable cost. Combined, the companies have over 1 million employees, a fraction of what is already in the health insurance world. With the combined efforts of the company heads, they could provide an easier way to access medical records, develop payment plans for medical bills, and advances thanks to the huge funding.
Other Ideas to Fix Healthcare
Another idea under consideration is offshoring medical care and bringing in more foreign-trained doctors. Due to the cost of hospital stays and doctor visits in the United States, it would actually be cheaper to set up healthcare systems in other places and flying there than normal hospital stays in the United States. According to CMS, the United States spends about 3.2 trillion on healthcare each year – the highest out of all developed countries. If that was bad enough, we still aren’t even ranked in the top 5 best healthcare systems despite spending the most money on healthcare.
If successful, this venture could bring down current cost due to the increased competition. Their work is cut out for them, but their passion, technological advances, and funding could help them get the job done. When we hear more news, we will give you an update the story. For now, check out how Apple is taking their first steps into healthcare here.