The breaking news of three major players, Amazon, Berkshire Hathaway, and JPMorgan Chase, took over Tuesday morning, January 30th. Their release statement of forming together to create an independent health care company for their employees broke headlines. Although there were really no more details released, all skepticism, criticism, and praise began to come about. The real question is, what does this mean for us?
For these three major companies, it means creating a more efficient health care for their employees, but for the rest of us will that apply? With a little more research we can answer this question. In the few statements that were made, it was clear that they are planning on using technology to simplify care and bring down costs. There is a concern about economic inequality and they plan on making an impact on this matter, how will they go about this is yet to be determined. Each of these companies are leaders in transformative technology. What is transformative technology? According to Kim Stanley Robinson, a broader definition of “transformative technology” – one that includes not just hardware but “software” such as systems of law, economics, and justice – can help ensure that technology and society transform together in a synergistic and robust manner. Currently the state of government healthcare programs are unknown and medical costs continue to rise. Employees are continuing to pay larger premiums with higher deductibles and co-payments. As seen in the image above, family premiums have increased by 19% since 2012.
Thanks to an article done by UPROXX we can answer our first question, what does this mean for us?
A more efficient healthcare is good for everyone all around. Although it may not affect all of us directly right away, if these three major companies can create some kind of new and efficient model, then it can be applied to the rest of us down the line.
Getting rid of this ‘tapeworm’ in the system. The tapeworm is referring to employers who insure their employees pay about 83%. Cutting the costs of healthcare companies can put money back into the companies and the employee’s pockets.
Everyone has had it with the healthcare industry, with these three making this big of a statement, shows how much they are willing to lose and put in just to make a change in the industry.
What else are major companies doing to make changes in healthcare? Check out my next blog post Package Delivered.
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