Amazon, Berkshire, JPMorgan team up on health care

[Fluffernutter]

Will Walmart, UPS, Kroger, McDonalds, and IBM counter with their own plan?

 

[Scheme]

I thought big monopolistic companies were evil? Why would they do such a thing if they intentionally reduce profits?

Also, healthcare is only a band-aid fix for eating poorly and lack of exercise, it will only get worse if people don't realize this.

 

[aitkenmike]

I thought big monopolistic companies were evil? Why would they do such a thing if they intentionally reduce profits?

Also, healthcare is only a band-aid fix for eating poorly and lack of exercise, it will only get worse if people don't realize this.

They aren't trying to reduce their own profits, they are banding together to form a co-op to try and remove profits from the cost of providing their employees health care. That would increase their profits as they are likely hoping to reduce what they pay to cover employees health.

I still can't understand how the USA ended up in this moronic situation where decent healthcare is linked to one's employer. It is really the most ass backwards system.

 

[Beechwood]

Hopefully they will have success. There is lots of room for improving health care costs for businesses.

 

[HockeyBjj]

This seems a very capitalist and free market solution attempt to te health care issue

I wish them the best and hope it works out and is something other corporations can copy

 

[ultramanhyata]

Physicians and other healthcare providers dedicate a large amount of their lifetime to being able to become provides. Cutting their salaries is a slap in the face of providers.

The state reduces their educational burden. The same way it does in Europe where doctors make about 1/3 of what US doctors do.

But I think your solution to the health care crisis - allowing fewer people to receive care - is going places.

 

[MeatheadMike]

If you get laid off from your job, you have enough other things to worry about, and FOOD shouldn't be one of them.

If you get laid off from your job, you have enough other things to worry about, and RENT shouldn't be one of them.

If you get laid off from your job, you have enough other things to worry about, and a CAR shouldn't be one of them.

Anything else I'm missing meathead? Since we're spending other peoples' money we might as well go for it all.

For many shitposters it might have been enough to use one strawman. But you went the extra mile and crammed 3 into one post. Nice work.

 

[PainIsLIfe]

https://www.bloomberg.com/news/arti...jpmorgan-to-set-up-a-health-company-for-staff

Three corporate giants are teaming up to combat what billionaire Warren Buffett calls a “hungry tapeworm” feasting on the U.S. economy: health care.

Amazon.com Inc., Buffett’s Berkshire Hathaway Inc. and JPMorgan Chase & Co. said they plan to collaborate on a way to offer health-care services to their U.S. employees more transparently and at a lower cost. The three companies plan to set up a new independent company “that is free from profit-making incentives and constraints,” according to a short statement on Tuesday.




Thoughts? Will Trump tweet about his seething jealousy of Bezos? Is this the first step to improving health care?

Sounds like they're going to self insure in a pool.

My company self insured years ago until it decided we didn't want to be an insurance company and handed it over to blue cross.

 

[milkmandanl]

It's encouraging. But before you get your penis too erect over it, remember we are talking about the worlds richest men, who are currently paying for healthcare in some way for upwards of 1 million people, are discussing ways to remove the profit element fro healthcare. In short, they are trying to make more money. That should come as a surprise to noone.

They could all do it tomorrow by self insuring. They just don't want the distraction from their core business.

I’m wondering what they’ll do...
At a high level, healthcare has 2 key parts sellers of healthcare insurance policies (aka payers) and people who provide services (providers) that they bill back to the payers....

Will they buy providers and pay them a standard salary plus bonus? Will they fund their own insurance company?

I think they’ll buy Anthem....they’ll get a little of both and still manage to make a ton of cash. Then they would want an RX company, doesn’t have to be the top one though

They could try and build their own but that’s not their style.

 

[Liquid Smoke]

For many shitposters it might have been enough to use one strawman. But you went the extra mile and crammed 3 into one post. Nice work.

It's not a strawman. There are many necessities in life. Why should the tax payers have to foot the bill for health care?

 

[cooks1]

I’m wondering what they’ll do...
At a high level, healthcare has 2 key parts sellers of healthcare insurance policies (aka payers) and people who provide services (providers) that they bill back to the payers....

Will they buy providers and pay them a standard salary plus bonus? Will they fund their own insurance company?

I think they’ll buy Anthem....they’ll get a little of both and still manage to make a ton of cash. Then they would want an RX company, doesn’t have to be the top one though

They could try and build their own but that’s not their style.

The simplest way is just to do what other companies have done over the years and assume more of the risk. But with so many employees that just becomes an administrative headache. Which why companies self insuring is not popular as it used to be.

I will be interested to see. I am not optimistic though because their employees are spread over all 50 states.

Perhaps if they do something great it could be scaled up for the whole country. But employer models are not going to be the answer. Andy trying to use private insurance to cover most of the country is not going to be the answer.

 

[MeatheadMike]

It's not a strawman. There are many necessities in life. Why should the tax payers have to foot the bill for health care?

First of all, there is an economic/societal cost when people who (otherwise would be able to work) cannot because poor health prevents them.

Secondly if you can't afford your rent or car, you may still have options... move into a more modest place, get a used car instead of making payments on a lease/new car, take public transportation, cook at home instead of eating out etc. But if you need some kind of procedure or medication to live, you have no choice.

Furthermore tax payers are already partially footing the bill for healthcare via emergency room service, which is very expensive. Preventative maintenance would go a long way reduce this and is relativity cheap, but not if you don't have health care coverage.

 

[ralphc1]

Off topic, I was looking for windshield wipers on Amazon, and the site said "Your (year make and model of my car) uses 26" inch blades for the driver side." I don't recall ever putting this information on their site, so I guess they must have purchased it from somewhere.

Imagine when Amazon starts pushing you fungal creams and anti-psychotics...

If you have ever checked for parts for a specific vehicle on Amazon they will have that information.

 

[ralphc1]

Some claim that as much as 30% of healthcare costs are from billing and collection. A single payer solves that but it would also put those involved in those jobs out of work as well as those that sell insurance.

 

[milkmandanl]

Some claim that as much as 30% of healthcare costs are from billing and collection. A single payer solves that but it would also put those involved in those jobs out of work as well as those that sell insurance.

There’s BILLIONS to be made in billing.....to be fair most of that billions is made by ensuring claims go through and get paid the first time....

 

[Beechwood]

There’s BILLIONS to be made in billing.....to be fair most of that billions is made by ensuring claims go through and get paid the first time....

Medical coding is a big money maker for hospitals and doctors I read. America uses a different coding system, different from what the rest of the world uses. Some write if America adopted the medical coding system that other countries use, medical costs would be lowered nicely in the US.

Saw this article today on unnecessary testing done. Billions are wasted this way.

Unnecessary Medical Care: More Common Than You Might Imagine

https://www.npr.org/sections/health...dical-care-more-common-than-you-might-imagine

excerpt:

...Susie Dade, deputy director of the alliance and primary author of the report released Thursday, said almost half the care examined was wasteful. Much of it comprised the sort of low-cost, ubiquitous tests and treatments that don't garner a second look. But "little things add up," she said. "It's easy for a single doctor and patient to say, 'Why not do this test? What difference does it make?'"

ProPublica has spent the past year examining how the American health care system squanders money, often in ways that are overlooked by providers and patients alike. The waste is widespread – estimated at $765 billion a year by the National Academy of Medicine, about a fourth of all the money spent each year on health care....

 

[woodguyatl]

They aren't trying to reduce their own profits, they are banding together to form a co-op to try and remove profits from the cost of providing their employees health care. That would increase their profits as they are likely hoping to reduce what they pay to cover employees health.

I still can't understand how the USA ended up in this moronic situation where decent healthcare is linked to one's employer. It is really the most ass backwards system.

During WW2 there was a severe labor shortage so companies began raising salaries and wages to compete for labor. To prevent this from getting out of hand and hurting the war effort the Federal Government banned wage hikes, but did not include health care in wages. As a result companies began providing insurance of increasing value to attract employees. Also, at the same time, the IRS ruled that company healthcare payments could be expensed. And voila here we are today.

 

[Oliver Clothesoff]

I hope they do for Health Insurance what Amazon did for online shopping. Anything's better than what we have now. Well almost anything. I sure as hell don't want the Government to get into the the Health Care biz. That would be a disaster IMO.

 

[panamaican]

I'm extremely curious what they could do. The first thing that comes to mind is the administrative side of care - if you could cut that you'd save a ton. But how? You'd probably want to acquire an existing insurance company and roll out a new interface between providers, payers and patients - something that's mostly automated? But I can't imagine that's not already being done. Reduce the cost of care - replace doctors with automated care for pretty much anything simple? But I have no idea where the technology is for that? And I assume that's already in the works too.

Buy clinics and force your employees to go there? that would combine a new interface with lowered cost of provider care.

Find a way to subsidize residencies in exchange for exclusive contracts with the doctors who come out of those programs? Thus you up the number of providers and corner off a regular supply of them for your private clinics with new interfaces?

Biometric scanners at the entrance to the offices forcing employees to basically get a physical every day (or month) and then mandating preventative check ups to keep people in good regular health and thus forestalling health crises by early intervention?

Shooting the fat and elderly employees and burying them behind the office park?

The possibilities are endless.

 

[PainIsLIfe]

I'm extremely curious what they could do. The first thing that comes to mind is the administrative side of care - if you could cut that you'd save a ton. But how? You'd probably want to acquire an existing insurance company and roll out a new interface between providers, payers and patients - something that's mostly automated? But I can't imagine that's not already being done. Reduce the cost of care - replace doctors with automated care for pretty much anything simple? But I have no idea where the technology is for that? And I assume that's already in the works too.

Buy clinics and force your employees to go there? that would combine a new interface with lowered cost of provider care.

Find a way to subsidize residencies in exchange for exclusive contracts with the doctors who come out of those programs? Thus you up the number of providers and corner off a regular supply of them for your private clinics with new interfaces?

Biometric scanners at the entrance to the offices forcing employees to basically get a physical every day (or month) and then mandating preventative check ups to keep people in good regular health and thus forestalling health crises by early intervention?

Shooting the fat and elderly employees and burying them behind the office park?

The possibilities are endless.

Since you bring it up, we've started using something called Tele-doc, where you go online or call and a dr diagnoses your symptoms and writes a script or sends you to your regular dr if warranted.

It's $10/call and will save a small fortune on minor issues.