Feb 01 2018
Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co said yesterday they will form a company to cut health costs for hundreds of thousands of their employees, setting up a major challenge to an inefficient USA healthcare system.
The effort is in the early planning stages, the three companies said.
"When large and successful companies come together in this way, it's potentially disruptive", says Frank Easley, senior vice president of Aon's health and benefits group, about the Amazon, Berkshire and JPMorgan partnership. But we also do not accept it as inevitable. "The solution will reportedly be 'free from profit-making incentives and constraints".
Though details are sketchy, a top executive from each partner will initially lead the effort, which is meant to use technology solutions to simplify the healthcare system and, more broadly, increase transparency and ultimately, cut costs. "The three of our companies have extraordinary resources, and our goal is to create solutions that benefit our USA employees, their families and, potentially, all Americans".
(CNN) - Can three titans of modern industry bend health care away from its ruinous path of disorganization and waste, toward the kind of efficiencies these men regularly achieve in their core businesses? Nearly all companies in the health field were in retreat Tuesday.
Seine still rising in Paris; Louvre partially closed
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And for Pelicans' Center DeMarcus Cousins , news just broke that he may have suffered one of the worst sports injuries of all. As for the Pelicans , they'll be hard-pressed to deal for help replacing Cousins at the deadline due to their cap situation.
The possibility of an "Amazon effect" of better technology and lower prices sweeping through the employer-sponsored health insurance market, which covers about 160 million Americans, generated plenty of buzz and speculation.
Benefits experts quoted by The Associated Press speculated the new company could create a virtual marketplace that makes shopping for health care as easy as buying a shirt on Amazon.
While the technology giant and its coalition kept mum on the details of their new venture, the leaders said more information would be made available in the coming months. In the past five years, premiums for family insurance plans arranged by employers are up 19 percent, according to a recent study by the Kaiser Family Foundation and the Health Research & Education Trust.
Health-care spending was estimated to account for about 18 per cent of the U.S. economy previous year, far more than in other developed nations.
It is interesting to note that one of the largest USA reinsurance companies, Gen Re, is at the core of Berkshire Hathaway's empire. Amazon's entry into the health market has been perceived as imminent, even though the company had announced nothing publicly.
It has been watched very closely on Wall Street, which has seen Amazon disrupt numerous industries ranging from book stores to clothing chains. By doing so, Amazon, Berkshire and JPMorgan could gain more control over their spending and save money pharmacy-benefit managers now consume, he said. In a survey of physicians' perspectives published past year in the journal PLOS One, the average estimate was that 20 per cent of medical care was unneeded, including about a quarter of tests, a fifth of prescriptions and more than one in 10 medical procedures.
Feb 01 2018
Alex Smith traded by Chiefs to Redskins, sources say
Cousins played under the franchise tag the last two seasons in D.C. and was set to become a free agent this off-season. In Kansas City's 27-20 win over the Eagles in Week 2, Smith was 21 of 28 for 251 yards and a touchdown.
Jan 31 2018
Russian team banned from Winter Paralympics, athletes to compete as neutrals
Beucher claimed the IPC had been influenced by external pressure to create a way in which Russian athletes can compete. The IPC said in a statement that "it is maintaining the suspension of the Russian Paralympic Committee (RPC)".
Jan 30 2018
Nokia 2 to receive Android 8.1 Oreo update soon
The penta-lens camera system on the mysterious Nokia device is reported to come in a circular form with not five, but seven holes. It would be powered by last year's Snapdragon 835 processor, at least 4GB RAM, 128GB internal storage, and 3,250mAh battery.
Jan 29 2018
Carson Wentz ditches cane, showing progress in ACL rehab
Wentz, 25, said Friday that when he returns to the field in several months, he won't alter his playing style. He still expects to be ready for the 2018 regular-season opener in September.
Jan 29 2018
Pochettino questions Tottenham motivation after FA Cup escape
But it's about in the next few days to see if we have some possibilities with some players. We showed the ambition and the decision to play.
Jan 28 2018
Caroline was better - Halep congratulates Australian Open champion Wozniacki
Halep's serve had just been broken and she now trailed 6-5 in the third set, one game from losing. Cramping, she made a decision to stand and deliver in the next game, keeping the points short.
Jan 28 2018
Richardson says Suu Kyi living in a 'bubble'
There is a "power bubble that has been created around her", filled with people who "tell her how great things are", he said. Duterte said he had a chance to talk to Suu Kyi, Myanmar's state counselor, and told the latter not to mind her critics.
Jan 28 2018
SpaceX Performs First 'static Fire' Of Falcon Heavy Rocket
The company now only operates the Falcon 9 rocket, which consists of a core first stage booster and a second stage. The Falcon Heavy will have double the thrust of the next biggest rocket out there today, according to Musk.
Jan 26 2018
Trump Just Dropped a Few Bombshells on West Wing Reporters
Mueller's team is also examining whether Trump obstructed justice when he dismissed former FBI Director James Comey a year ago . Cobb also clarified if the special counsel does call upon Trump, his attorney would be there to guide him through the meeting.
Jan 26 2018
BJD suspends MP Baijayant Panda, he says charges false
He made the statement in reference to Patnaik's Private Secretary IAS officer V Kartikeyan Pandian. Panda was elected to Lok Sabha in 2009 and 2014 from Kendrapara Lok Sabha constituency.
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