Bezos-Buffett-Dimon Venture Announces CEO and Hints at Their Plan of Action
We all have heard of the Bezos-Buffett-Dimon (BBD) health care super team, created to find a solution to healthcare. It seems that this is for real, with speculation of the group actually coming to fruition. Last Friday, the venture officially announced the company’s CEO. With a clear goal, 1 million employees ready to work, and now a CEO the three companies are ready to begin to take action. The overall agenda of the joint venture is to cut cost from the healthcare system. How will BBD be able to manage to get to the goal. We discuss this and more as we take a look at the ventures current updates. But before we do that, we suggest checking out our previous article over the topic https://empowerhealthinsuranceusa.com/amazon-partners-to-enter-healthcare/.
BBD Venture Approach
Friday, BBD announced that Harvard professor and author Atul Gawande would become the ventures CEO. The approach of the venture is somewhat different from previous efforts; they aren’t trying to come up with new payment models or shared goal elimination. Instead, they are going straight for the middle man. The company believes that by cutting the unnecessary, they might be able to reduce spending by 15-20 percent. This idea stems from Amazon’s platform where Amazon cuts out everyone except the original supplier and the post office. The venture believes they can replicate this into healthcare, due to the transaction cost, which haunt our goods and services today.
Wasted Money on the Middle Man?
Where are we wasting money in our healthcare system? One could argue that the waste stems from Pharmacy benefit management companies. Pharmaceutical companies have placed the blame on PBMs for the rise of drug cost. If the venture cuts the middleman out, they will control drug prices better driving prices down for consumers. Some believe that certain insurers create unnecessary transaction costs in the process. It’s important to note that to have someone knowledgeable over your plan and always able to assist you is priceless.
We will continue to update you on this venture as more information comes out!