Getty/Mark Wilson
-
JPMorgan CEO Jamie Dimon thinks the US can do better when it comes to healthcare and spelled that out in his annual letter.
-
Dimon's teaming up with Amazon and Berkshire Hathaway to form an independent nonprofit venture to lower healthcare costs and improve the healthcare outcomes for their employees.
-
The details about the joint venture have been limited so far, but Dimon said the plan is to hire a management team for the venture that's focused on a few broad healthcare topics, including changing the way we pay for healthcare, empowering consumers to make better healthcare choices, and finding ways to cut down on costs within the existing system.
JPMorgan CEO Jamie Dimon thinks the US can do better when it comes to healthcare.
Specifically, Dimon wrote in his annual letter, that the US healthcare system can improve when it comes to treating chronic conditions that are preventable or reversible, spending less on administrative and fraud costs, and on getting better health outcomes for lower costs.
The failures of the healthcare system have wide-ranging impacts, according to Dimon, who said the real problem with the US deficit is the "uncontrolled growth of our entitlement programs," and that in turn "the core issue underpinning the entitlements problem is healthcare in the United States."
With that in mind, Dimon said there needs to be bipartisan group of experts focused on fixing healthcare.
"I am convinced that this can be done, and if done properly, it will actually improve the outcomes and satisfaction of all American citizens," he wrote in the letter.
To that end, in January, Dimon announced he's teaming up with Amazon and Berkshire Hathaway to form an independent nonprofit venture to lower healthcare costs and improve the healthcare outcomes for their employees. The three companies are self-insured employers, which means that when you're an employee going to a doctor's appointment, your employer is ultimately footing the bill for the MRI you receive, rather than a health insurer.
Eventually, Dimon said he hopes to "possibly help inform public policy for the country."
"The effort will start very small, but there is much to do, and we are optimistic," Dimon said in the letter.
The details about the joint venture have been limited so far, but Dimon said the plan is to hire a management team for the venture that's focused on few broad healthcare topics. Those include: